Hyderabad, July 21, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled “North America Polyvinyl Chloride (PVC) Market Report (2023-2028),” the market is estimated at USD 4.98 million in 2023. It is expected to register a CAGR of 2.81% during the forecast period.
COVID-19 had adversely affected the North American construction sector due to government-imposed bans and restrictions. However, since these restrictions were lifted in 2021, the sector has been doing well since. This is anticipated to boost the market growth. The increasing use of plastics in the construction industry and increasing applications in the healthcare industry are expected to drive the North American PVC market.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 4.98 million |
| Market Size (2028) | USD 5.72 million |
| CAGR (2023-2028) | 2.81% |
| Study Period | 2018-2028 |
| Forecast Units | Value (USD million) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape, and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | Because of its lightweight, polyvinyl chloride (PVC) is widely used in the automotive industry. |
| United States is the second-largest market for electric vehicles. |
Who are the Top Companies in the North America Polyvinyl Chloride (PVC) Market?
The North American PVC market is consolidated, with key market shares held by prominent players.
The noteworthy players holding the North American PVC market are:
-
- Amco Polymers
- Aurora Plastics LLC (Nautic Partners LLC)
- Formosa Plastics Corporation
- Ineos
- LG Chem
- Occidental Petroleum Corporation
- Orbia (Mexichem SAB de CV)
- SABIC
- Shin-Etsu Chemical Co. Ltd
- Westlake Corporation
Other Reports That Might Be of Your Interest:
- Wood-based Panel Market Report - The wood-based panel market size is expected to grow from 393.28 million cubic meters in 2023 to 459.70 million cubic meters by 2028 at a CAGR of 3.17% during the forecast period (2023-2028).
- Asia-Pacific PVC Market Report - The Asia-Pacific polyvinyl chloride (PVC) market is projected to register a CAGR of more than 4.5% during the forecast period.
Key Highlights from the North America Polyvinyl Chloride (PVC) Market Report:
Growing Demand from the Construction Industry
- PVC pipes have been utilized in building and construction for over 60 years since they offer valuable energy savings during production, low-cost distribution, and a safe, maintenance-free lifetime of service. They are widely used for pipeline systems for water, waste, and drainage as they encounter no buildup, scaling, corrosion, or pitting and provide smooth surfaces, reducing the energy requirements for pumping.
- PVC flooring has many benefits, viz., durability, freedom of aesthetic effects, ease of installation, ease of cleaning, recyclability, etc. Therefore, its flooring has been used over the years. Another segment in the building and construction industry where PVC is used is roofing, mainly due to its low maintenance requirements.
United States Anticipated to Dominate the Market
- PVC is widely used in the automotive industry since it is lightweight. PVC is flexible, has thermal stability, fire resistance, and high gloss. It can be molded into numerous flexible and rigid products and supports extrusion, injection molding, compression molding, and blow molding. The United States is the second-largest automotive manufacturer following China. In 2021, it produced 9.16 million units, an expansion of 3.8% compared to 8.8 million units in 2020.
- United States is the second-largest market for electric vehicles. According to the EV Revenues, in 2021, the country’s total plug-in vehicle registrations amounted to around 6,56,900 units, registering a growth rate of 100% compared to 2020.
What are the Latest Developments in the North America Polyvinyl Chloride (PVC) Market?
- In December 2022, Wavin introduced a portfolio of bio-based drinking water solutions to provide water utilities and infrastructure contractors with a sustainable product line. Its new products are made with a biobased PVC that substitutes ethylene with an alternative bio ethylene derived from a biomass waste stream and utilizes vegetable oil.
- In August 2022, Aurora Plastics extended its operations located in Streetsboro, Ohio. With over 100 million pounds of additional capacity, the expansion enables the company to enhance its thermoplastic compounding capabilities in rigid PVC, rigid PVC alloys, and CPVC.
Mordor Intelligence has Segmented the North America Polyvinyl Chloride (PVC) Market Based on Product Type, Application, End-user Industry, and Geography:
- By Product Type
- Rigid PVC
- Clear Rigid PVC
- Non-clear Rigid PVC
- Flexible PVC
- Clear Flexible PVC
- Non-clear Flexible PVC
- Low-smoke PVC
- Chlorinated PVC
- By Application
- Pipes and Fittings
- Films and Sheets
- Wires and Cables
- Bottles
- Profiles, Hoses, and Tubings
- Other Applications
- By End-user Industry
- Healthcare
- Automotive
- Electrical and Electronics
- Packaging
- Footwear
- Building and Construction
- Other End-user Industries
- By Geography
- North America
- United States
- Canada
- Mexico
- Rest of North America
- Europe
- United Kingdom
- Spain
- Germany
- France
- Italy
- Russia
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Australia
- Rest of Asia-Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- North America
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the North America Polyvinyl Chloride (PVC) Market Report (2023-2028).
Mordor Intelligence constantly tracks industry trends. Some relevant market reports from the analysts that might be of interest to you:
- Europe PVC Market Report - In Europe, polyvinyl chloride (PVC) is expected to register a CAGR of around 3% during the forecast period.
- PVC Stabilizers Market Report – The PVC stabilizers market is expected to have a volume of 1,721.32 kilotons and register a CAGR of over 3.5% during the forecast period.
- Polyvinylidene Fluoride (PVDF) Market Report - The Polyvinylidene Fluoride (PVDF) Market is projected to register a CAGR of 18.30%.
About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the industry’s competitive landscape.
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