Rockville , July 28, 2023 (GLOBE NEWSWIRE) -- As per Fact.MR, a provider of market research and competitive intelligence, the global crosslinked PVC market has reached a revenue of US$ 1.36 billion in 2023 and is forecasted to climb to US$ 2.46 billion by the end of 2033. Asia Pacific is estimated to account for a dominant share of the global market by the end of the forecast period (2023 to 2033).
Rapid urbanization and industrialization around the world have been fueling the demand for infrastructure development, which in turn, is forecasted to benefit crosslinked PVC sales in the future. Growing awareness regarding the benefits of crosslinked PVC and surging use in automotive manufacturing are also predicted to bolster market development over the next ten years. However, volatility in the pricing of raw materials is anticipated to be a major challenge for crosslinked PVC suppliers through 2033 and beyond.
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This elaborate crosslinked PVC market survey by skilled analysts at Fact.MR, a market research and competitive intelligence provider, has detailed new developments made by leading companies in the market, such as Kaneka Corporation, Sicomin Epoxy Systems, and SAE International, among others.
Report Attributes | Details |
| Forecast Period | 2023 - 2033 |
| Value Projection (2033) | US$ 2.46 Billion |
| Growth Rate (2023-2033) | 6.1% CAGR |
| No. of Pages | 170 pages |
| No. of Tables | 84 Tables |
| No. of Figures | 112 Figures |
Key Takeaways from Market Study
- The global crosslinked PVC market stands at a valuation of US$ 1.36 billion in 2023.
- Over the next ten years, crosslinked PVC demand is projected to increase at a healthy CAGR of 6.1%.
- The global market is anticipated to reach a value of US$ 2.46 billion by 2033.
- Growing industrialization, high demand for infrastructure development, rising automotive manufacturing, surging demand for electronics, and high investments in R&D of novel materials to comply with modern sustainability standards are key market drivers.
- Implementation of bans on the use of plasticized PVC products and volatility in raw material pricing are key constraints of the market.
- The market in the United States is forecasted to attain a value of US$ 745.56 million by 2033, expanding at 6.6% CAGR across the forecast period.
- Crosslinked PVC demand in the automotive industry is predicted to rise at 6.5% CAGR from 2023 to 2033.
- Flexible crosslinked PVC shipments are projected to increase at 5.8% CAGR over the next ten years as their preference rises in several industry verticals.
“China is estimated to maintain its hegemony in the Asia Pacific market and could be a hotbed for crosslinked PVC companies well beyond 2033,” says a Fact.MR analyst
Country-wise Insights:
Increased Residential Building Activity Is a Major Driver of the US Market
The number of homes being built in the country has significantly increased as a result of the recent spike in interest in the residential real estate market in the United States. Over the next ten years, it is predicted that increasing demand for crosslinked PVC products in residential construction would support exports of the material by itself.
According to extrapolation, the US market for crosslinked PVC will grow at a compound annual growth rate (CAGR) of 6.6% from 2023 to 2033 and generate revenues of US$745.56 million by the end of the projected period.
On the other hand, the recent increase in interest rates by the US Federal Reserve has slowed down the pace of home development. For some time in the future, the aforementioned aspect is anticipated to generate uncertainty for crosslinked PVC suppliers in the United States; but, if everything goes according to plan for the nation's economy, the market is anticipated to rebound.
Key Companies Profiled in this report
- Kaneka Corporation
- Sicomin Epoxy Systems
- SAE International
- Westlake Chemical Corporation
- Ineos
- Shin-etsu Chemicals Limited
Winning Strategy
Crosslinked PVC manufacturers should extensively focus on expanding their production capacity to satisfy high demand originating from the flourishing construction and automotive sectors. Companies should also focus on making their products eco-friendly and sustainability compliant to stay relevant in the eco-conscious landscape of the future.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global crosslinked PVC market, presenting historical demand data (2018 to 2022) and forecast statistics for the period (2023 to 2033).
The study divulges essential insights on the market based on type (rigid crosslinked PVC, flexible crosslinked PVC), moulding process (calender moulding, injection moulding, extrusion moulding), and end-use industry (building & construction, automotive, packaging, electricals & electronics, others), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
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