Vinyl Chloride Monomer Market - By Application (PVC, Copolymer Resins, Chlorinated Solvents) By End-Use (Building & Construction, Healthcare, Agriculture, Electrical & Electronics, Automotive), By Region & Global Forecast to 2032

Vinyl Chloride Monomer Market - By Application (PVC, Copolymer Resins, Chlorinated Solvents) By End-Use (Building & Construction, Healthcare, Agriculture, Electrical & Electronics, Automotive), By Region & Global Forecast to 2032

Vinyl Chloride Monomer Market is anticipated to demonstrate massive growth through 2032, owing to the rising consumption of polyvinyl chloride in the automobile industry. VCM (Vinyl Chloride Monomer) is one of the largest petrochemicals in world. At present, the United States stands to be the leading VCM manufacturing country, owing to its low production costs for ethylene and chlorine raw materials. Meanwhile, China is one of the largest consumers of VCM.

Key players operating in the vinyl chloride monomer market are constantly investing in R&D, launching new products, and engaging in mergers, acquisitions, and partnerships to reinforce their presence in the marketplace. For instance, in 2021, Westlake Chemical Corporation acquired Dimex LLC from Grey Mountain Partners, as a part of the firm’s commitment to the environment and recycling and taking actions that contribute to a sustainable, circular economy.

In yet another instance, Qatar Vinyl Co announced the establishment of its new plant with a capacity of 350,000 tons per year of polyvinyl chloride (PVC), in Mesaieed. As per company officials, the project is estimated to be completed by mid-2025. The PVC plant will become the first in Qatar and is slated to be incorporated with QVC’s current ethylene dichloride (EDC), vinyl chloride monomer (VCM), and caustic soda facilities in Mesaieed.

Overall, the vinyl chloride monomer industry is segmented in terms of application, end-user, and region.

Considering the application, the chlorinated solvents segment is expected to exhibit over 5.5% CAGR through 2032. The wide usage of chlorinated solvents in end-use sectors such as automotive, aerospace, refrigeration & air conditioning, textile, cleaning, and degreasing is expected to impact the market outlook over the forecast years positively.

Based on end-user, the agriculture end-use segment accounted for over 11.5% of the market share in 2022 and is estimated to depict massive growth through 2032. The rising emphasis on accelerating the agricultural production coupled with the scarcity of agricultural land is anticipated to propel the demand for sophisticated farming methods. In addition, innovations in energy-efficient methods, along with a growing dependence on greenhouse gases for increasing returns, will propel the demand for VCM-based end-use goods in the agriculture sector in the coming years.

Regionally, the Europe vinyl chloride monomer market share is expected to exceed over USD 23.5 billion by the end of 2032. The constantly growing automobile industry in Europe is estimated to boost the regional growth. Besides, the rising inclination towards electric and hybrid vehicles among Europeans, considering the rising environmental awareness and high fuel costs, will drive market expansion further.