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

Vinyl chloride monomer market size is estimated to witness more than 7.7% CAGR between 2024 and 2032 driven by the increasing demand for polyvinyl chloride (PVC). Of late, PVC is widely used in a variety of industries, including construction, automotive, and packaging, due to its versatility, durability, and cost-effectiveness. In the construction sector, PVC is used in applications, such as pipes, flooring, and siding, where its resistance to corrosion and weathering makes it highly desirable.

Innovations in vinyl chloride monomer (VCM) manufacturing, such as the development of more efficient and Eco- friendly production techniques, are enhancing the overall efficiency and reducing the costs associated with production. Moreover, stricter environmental regulations are encouraging the adoption of cleaner technologies and sustainable practices to help to mitigate the impact of production on the environment, subsequently stimulating the market growth. For instance, in January 2023, the Vinyl Institute initiated Viability for promoting the recycling of post-consumer PVC.

The industry is classified into application, end use, and region.

Based on application, the vinyl chloride monomer market from the co polymer resins segment is poised to witness robust CAGR from 2024 to 2032 due to the increasing demand for specialized polymer applications that require enhanced properties and performance. co polymer resins offer tailored characteristics, such as improved flexibility, impact resistance, and chemical resistance, further adding to their preference.

VCM market size from the healthcare end use segment will generate notable revenue during 2024-2032 attributed to the extensive use in medical applications. The versatility, safety, and cost-effectiveness in PVC makes it a preferred material for a wide range of healthcare products, including medical tubing, IV bags, and disposable syringes. The ability to be sterilized and compatibility with various medical procedures will add to the segment growth.

Asia Pacific vinyl chloride monomer industry is slated to witness decent growth rate through 2032 owing to the rapid industrialization and urbanization. As APAC countries undergo extensive infrastructure development, including residential, commercial, and industrial projects, the need for PVC products, such as pipes, flooring, and electrical cable insulation will further increase.