ALBANY, N.Y., Sept. 15, 2020 /PRNewswire/ -- Owing to a number of growth factors, global polyvinyl chloride (PVC) market is set to witness an increase in market worth from about USD 63 billion in 2018 to about USD 88 billion by the end of the period of 2019 to 2027. Compound annual growth rate (CAGR) of the market will be approximately 4%.
As per Transparency Market Research (TMR), "Growing population, rapid urbanization, and increasing construction volumes are all set contribute to the projected growth for the global polyvinyl chloride (PVC) market over the forecast period. Another notable factor here is growth of online trading and increase in disposable incomes."
Key Drivers of Growth in Global Polyvinyl Chloride (PVC) Market Study:
TMR has enumerated a number of growth factors in its report. Some of the prominent ones, pushing the global polyvinyl chloride (PVC) market on an upward growth trajectory over the stated period, include the following:
Rapid industrialization and urbanization is leading to growth in the global polyvinyl chloride market
Construction volumes are anticipated to grow significantly over the forecast period, paving way for higher demand for PVC
Increase in population is supporting growth in the market notably owing to creating demand for buildings
By 2050, global population will increase from 7.7 billion to 9.7 billion – an addition of 2 billion more people on the planet
Competitive Landscape of Global Polyvinyl Chloride (PVC) Market:
Transparency Market Research has evaluated and detailed out information on the vendor landscape of the market. From financials and recent developments to product details and business strategies, the information is comprehensive.
Successful players, who are well-known, in the global polyvinyl chloride (PVC) market's fragmented vendor landscape are Shin-Etsu Chemical Co., Ltd., Formosa Plastics, Inovyn, ChemChina, Mexichem S.A.B. de C.V., Westlake Chemical Corporation, and Occidental Petroleum Corporation, among others.
Some of the top strategies that have been noted being deployed by players operating in the market in the recent past include expansion of production facility, planning and executing new projects, and so on.
Blow Molding Machine Market - In terms of value, the global blow molding machine market is expected to reach US$ 65.1 Bn by 2030, expanding at a CAGR of ~4% during the forecast period. The extrusion type segment held a major share of the global blow molding machine market in 2019. Low tool and die costs, rapid production, and ability to mold complex parts make extrusion blow molding machine ideal for usage in the manufacture of a wide range of plastic parts. In terms of raw material, the polyethylene segment accounted for a significant share of the global blow molding machine market in 2019. Ease of molding, availability, high stiffness, environmental stress cracking resistance (ESCR), and load melt strength, and excellent rigidity make polyethylene an ideal raw material for usage in the manufacture of various blow molding parts.
Adhesive Tapes Market – Electronic industry is also a major contributor to the growth of global adhesive tapes market. The industry uses these tapes in forms of insulators and collectors for the electronic components to be used in a device. The adhesive tapes are made from compounds like rubber, acrylic, and silicon, which are some of the best insulators. Moreover, the flexibility offered by these tapes also plays a crucial role in fueling their use in electronic devices. Based on these applications and benefits the electronic industry is projected to fuel the growth of global adhesive tapes market from 2019 to 2027.
Polyvinyldiene Chloride Resins Market - Demand for polyvinyldiene chloride resins is high in the packaging sector. Demand for packaged food has been rising in emerging regions due to the rapid urbanization and growth in disposable income of consumers. Key applications of polyvinyldiene chloride resins in the food industry include packaging of poultry, cured meats, cheese, snack foods, tea, coffee, and confectionaries. Increase in population in countries such as China and India is anticipated to boost the food packaging industry in these countries. This, in turn, is expected to drive the polyvinyldiene chloride resins market. Rise in demand for polyvinyldiene chloride resins in the medical sector (osmotic bags) is also estimated to fuel the polyvinyldiene chloride resins market.
Polyvinylidene Fluoride (PVDF) Membrane Market - The PVDF membrane market is driven by growth in end-user industries such as coatings, photovoltaic films, oil & gas, and electrical. Increase in research & development (R&D) activities is the key factor driving the market. Various associations, end-user manufacturers, and PVDF manufacturing companies aim to invest significantly in technology innovations in PVDF membrane to replace other metals and plastics. This provides new opportunities for the PVDF membrane market. However, factors such as increasing use of substitutes, rising environmental & health concerns, and unstable prices are expected to hamper market growth during the forecast period.
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