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The impact of COVID-19 pandemic can be felt across the chemical industry. The growing inability in the production and manufacturing processes, in the light of the self-quarantined workforce has caused a major disruption in the supply chain across the sector. Restrictions encouraged by this pandemic are obstructing the production of essentials such as life-saving drugs.
The nature of operation in chemical plants that cannot be easily stopped and started, makes the operational restrictions in these plants a serious concern for the industry leaders. Restricted and delayed shipments from China have created a price hike in the raw materials, affecting the core of the chemicals industry.
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The slacking demand from different impacted industries such as automotive is negatively influencing the growth of the chemical industry. In light of the current crisis, the market leaders are focused to become self-reliant which is expected to benefit the economic growth of different economies in the longer term. Companies are triggering events to restructure and recover from the losses incurred during the COVID-19 pandemic.
Persistence Market Research (PMR) has recently published a report on polyvinyl chloride (PVC). The report is a meticulous research work of market research analysts. The report provides a comprehensive outlook of the global polyvinyl chloride market along with the growth trajectory of the market in terms of future, present, and historical values. Information on key players, regions, and various segments of the global polyvinyl chloride market has also been highlighted in the report. Polyvinyl Chloride can be manufactured from an extensive variety of hydrocarbons, for example, subordinates of plants including sugarcane and coal. Right now, PVC is extracted from ethylene, which is a result of oil and gas industry.
It is in this way known as a petrochemical item. Polyvinyl Chloride has an extensive variety of uses, which incorporate funnels, electric links, unplastisized polyvinyl chloride for building and construction activities, healthcare furniture and apparel, and plasticizers among others. It exists in an extensive variety of consumer items that incorporate jugs, charge cards, stick movies and bundling among others and development materials, for example, window outlines, funnels, links, deck and backdrop among a scope of products. The cost of PVC solely depends on the type of raw materials that are being used in the process.
According to PMR, the global polyvinyl chloride market is expected to exhibit a stable CAGR in the course of the forecast period. The global polyvinyl chloride market is projected to touch a valuation of US$ 91,811.5 Mn by 2026.
Key Segmental Insights
On the basis of region, the global polyvinyl chloride market has been segmented into North America, Latin America, Europe, Japan, Asia Pacific except Japan, and the Middle East and Africa. Amongst all these regions, Asia Pacific emerged as the leader in 2016 accounting for a Herculean share in the market in the same year. It is expected to touch a valuation of over US$ 58,318 Mn by the end of 2026. This growth of the region can be attributed to the growing use of PVC across the several industries in the region. In developing countries such as Vietnam, Indonesia, India, and China, the PVC market is anticipated to rise at an extensive pace with its application growing in industries such as automotive, construction, and manufacturing, among others.
In terms of product type, the global market for polyvinyl chloride has been bifurcated into rigid and flexible. Between these two, the rigid type emerged as the leading segment and is expected to stay in the dominant position by the end of the forecast period.
On the basis of end-user, the global polyvinyl chloride market has been segmented into construction, automotive, packaging, electrical and electronics, consumer goods, and other end users. Among all these, the market is expected to be led by the construction sector with the use of PVC rising in this sector.
Based on application, the market has been segmented into pipes and fittings, profiles and tubes, films and sheets, cables, bottles, and other applications. Amongst these, pipes and fittings is likely to surface as the leading application for polyvinyl chloride in the long run with the PVC being the most preferred product in pipe fittings.
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