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PVC Compound Market By Product Types (Rigid PVC, Flexible PVC) By Manufacturing Process (Injection Molding, Extrusion,Others) By Application (Film and Sheet, Wire and Cabling, Pipe and Fitting, Flooring, Profiles and Tubes, Others) By End-Use Industry (Electrical and Electronics, Building and Construction, Packaging, Automotive, Others) - Growth, Future Prospects, And Competitive Analysis, 2016 -2028

About this report

The global PVC compound market report explores the critical analysis of the PVC compound industry using key parameters. The report consists of investment strategies, the need for investments in the PVC compound industry, and the multiple benefits for the investors. Importantly, this report sets out major changes in the global technical regulations for the PVC compound industry and how economic and non-economic barriers are assisting in growing the market. Moreover, the report analyzes the global, regional, and country-level historic and forecasted market size. The report also provides a comprehensive analysis of key investment propositions, demand and supply gap, competitors positioning, STAR analysis, SRC analysis, and Tornado analysis.Key technological developments and other analyses such as porter's five forces analysis, PESTEL analysis, value chain analysis, etc.

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Key Highlights of the report

How are the major segments performing in the PVC compound market?

  • In 2021, the injection molding segment was expected to dominate the global PVC compound market as many products are manufactured using injection molding, which differs greatly in size, complexity and application.
  • In 2021, the film and sheet segment was expected to dominate the market as PVC films and sheets can be customized and save costs, increasing consumer appeal.
  • In 2021, the electrical and electronics segment was expected to dominate the global PVC compound market as it is widely used to increase its electrical conductivity.
  • In 2021, the flexible PVCsegment was anticipated to hold a prominent share in the global PVC compound market as it has great strength and softness.

Which region dominated the PVC compound market?

In 2021, the Asia-Pacific dominated the market owing to the recycling capabilities of plasticized PVC medical instruments and increasing building and construction activities in evolving countries. Due to the recovery initiative in plasticized PVC compounds in the region and the PVC compound, manufacturers are engaged in developing new PVC compound products, propelling the region's demand for PVC compounds.

What is the competitive environment of the PVC compound market?

Companies in the market contend established on the product grade delivered. Major players in this market emphasize developing their manufacturing skills, R&D investments, infrastructural expansion, and leveraging integration possibilities around the value chain. With these techniques, global PVC Compound companies cater to growing demand, secure competitive effectiveness, create innovative products & technologies, decrease production expenses, and enhance their customer base. For instance, in January 2022, Westlake established GreenVin Polyvinyl Chloride (PVC), a lower-carbon alternative PVC. It is established by one of its subsidiaries, the Vinnolit subsidiary in Germany. It is primarily utilized in the construction, automotive and medical sectors. This will oblige the company to extend its product portfolio. Furthermore, In July 2020, KEM ONE partnered with Polyloop to develop PVC recycling. This partnership will combine their skills and expertise to develop new PVC recycling solutions at the Balan site.

Executive Summary

What was the impact of the COVID-19 pandemic on the PVC compound market?

COVID-19 impacted several manufacturing industries in the year 2020-2021 as it led to the closure of workplaces, disturbance of supply chains, and regulations on transportation. However, no significant impact was detected on PVC compound global operations and supply chain, as the import and export of vaccines and essential goods led to the growing demand for PVC compound. This increasing awareness and governmental push for the research, development, and introduction of new PVC compounds boost the global market growth.

Which are the key investments by the players in the PVC compound industry market?

These players are immersed in platform expansion and strategic collaborations to extend their portfolios and acquire a robust footing in the global PVC compound market. For instance, in April 2019, Mitsubishi Chemical Corporation (MCC) completed its acquisition of the PVC compound business of WelsetPlast Extrusions Private Limited in India. Plans now call for a new facility to manufacture thermoplastic elastomer for automotive interior components and other applications at MCPP India Private Limited subsidiary. Furthermore, In February 2020, INEOS and UPM Biofuels declared a long-term agreement to provide a renewable raw material for unique and creative bio-attributed polymers produced at INEOS Köln, Germany. The world’s first commercially obtainable bio-attributed PVC utilizes the residue from wood pulp manufacturing.

Some major players in the PVC compound market are Aurora Plastics, Benvic Europe, Ercros, Formosa Plastics Corporation, INEOS Compounds, Mexichem, PKN Orlen S. A., Roscom, Inc., Teknor Apex, and Westlake.

What are the Major Driving Factors for the PVC compound Market?

The growing utilization of PVC compounds across the various end-user industries is estimated to carve a way for market growth. The demand for food packaging in creating nations will probably drive the growth of the PVC compound market during the forecast period. In addition, the expanded usage of PVC compounds in residential and commercial structures is anticipated to expand the market's growth. Furthermore, the increase in business development will further drive the growth rate of the PVC compound market. Additionally, the growing disposable income in the advancing countries will drive market value growth. The expansion of the end-use is also projected to bolster the market's growth. Furthermore, as PVC blood bags are understood for their comprehensive shelf life and durability, the growing number of crisis division visits and the resulting expansion in blood donation requirements are anticipated to impact material adoption.

What are the Major Risks for the PVC compound Market?

With the growing number of restrictions around the globe due to the pandemic, there has been a hit in demand and supply. This factor will challenge the market growth of the PVC compound. Furthermore, Changes or volatility in the costs of raw materials and machinery equipment pose a significant threat to the market's growth. Further, inconsistent availability of raw materials at one distinct location is demeaning the market's growth. The availability of alternatives at an affordable range will further derail the market growth rate.

Which is the key application in the PVC compound market?

The building and constructionsegment is anticipated to hold a prominent share in the global PVC compound market. PVC compound is a cost-effective compounding product with water resistance, freeing the walls from corrosion with changing environmental conditions. It is used in windows, roofing, fencing, wallcoverings, and flooring. Plasticized PVC compound is used in building walls to withstand tough weather conditions; PVC protects outer walls by resisting heat. The plasticized PVC compound acts as a trusted and relevant material in cables and electrical wirings. And with that, plasticized PVC compound doesn't lead to fire due to short circuits or any other kind of problem and protects the wires from corrosion, which happens due to time.

How is the PVC compoundmarket performing in regions?

The Asia Pacific region is anticipated to hold a prominent share in the global PVC compound market due to the manufacture of plastic products. Owing to features corresponding to quick industrial development, increasing manufacturing segments, and high funds for organizational growth, India and China are observing a prominent growth for Polyvinyl chloride. Moreover, the Government of India is implementing various measures to encourage the country's domestic electronics manufacturing industry and exports. For instance, India's electronic goods exports were esteemed at USD 11.7 billion in 2021. In May 2021, exports of electronic goods were valued at USD 950.17 million. This development in electronic products in the country will probably drive the demand for PVC in the electronic industry over the forecast period.

North America will score the highest growth rate owing to the major players' increased focus on this region. Moreover, the prevalence of advanced infrastructure in the region will further create lucrative growth opportunities. Furthermore, the US has one of the world's largest construction industries. In 2021, as per the US Census Bureau, the total value of residential housing during FY was USD 217,30 million, up by 21.8%, corresponding to USD 178,362 million for FY 2019-2020.

What is the regulatory landscape for the PVC compound market?

The improper disposal of legacy plastic waste and the recycling and reuse of such can guide the constant circulation of toxic additives into the environment, endangering plant and animal life and human health. The environmental hazards posed by dangerous additives have been managed by international regulations like the Registration, Evaluation, and Authorization of Chemicals (REACH) ordinance and the Stockholm Convention. They set entries for dangerous chemicals, including some legacy additives, which control trading and waste management, and desire a fast phase-out of dangerous combinations. At the same time, non-governmental, governmental, and industrial players reinforce a circular economy of goods, including plastics, which will further improve recycling allocations for waste plastics. 

What is the Market Size of PVC compound regarding value?

The global PVC compound market is anticipated to grow at a substantial CAGR of 5.00% in the upcoming years. The global PVC compound industry was estimated to be worth USD 11.2 billion in 2021 and was expected to be worth USD 15.01 billion by 2028.

What are the major players planning for the future of the PVC compound market?

Growing regional existence and investment in downstream applications are anticipated to deliver a competitive edge in the market. For instance, in January 2021, Shintech declared a capital investment of USD 1.25 billion to support its integrated PVC business, Shin-Etsu Chemical Co. Ltd, which will also increase the production capacity of Shintech Inc., its US subsidiary. Shintech’s PVC production capacity is anticipated to reach 3.62 million metric tons annually.

Segmentation of Global PVC Compound Market-

Global PVC Compound Market – By Product Types

  • Rigid PVC
  • Flexible PVC

Global PVC Compound Market – By Manufacturing Process

  • Injection Molding
  • Extrusion
  • Others

Global PVC Compound Market – By Application

  • Film and Sheet
  • Wire and Cabling
  • Pipe and Fitting
  • Flooring
  • Profiles and Tubes
  • Others

Global PVC Compound Market – By End-Use Industry

  • Electrical and Electronics
  • Building and Construction
  • Packaging
  • Automotive
  • Others

Global PVC Compound Market – By Region

  • North America
    • US.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • South-east Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East and Africa

Frequently asked questions about the global PVC compound market

COVID-19 has significantly impacted the market due to the rapid adoption of remote working and cloud infrastructure.

Asia Pacific accounted for the most heightened share in the global PVC compound market.

The major drivers for this market are increasing demand for PVC in building and construction activities and growth in consumer electronics.

The flexible PVC segment had a major share in the global market in 2021.

The film and sheetsegment had a major share in the global market in 2021.

PVC Compound Market Scope

Report Attribute Details
Market Value in 2021 USD 11.2 billion
Market Value in 2028 USD 15.01 billion
CAGR 5.00%
Benchmarking Year 2021
Past data 2016 – 2021
Forecast period 2022 – 2028
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Trusted By
Godaddy
Published Date:  Oct 2022
Category:  Chemicals
Report ID:   60712
Report Format:   PDF
Pages:   120
Rating:    4.6 (40)
Delivery Time: 24 Hours to 48 Hours   
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