According to the research report titled ‘Polyvinyl Chloride (PVC) Market Share, Size, Trends & Industry Analysis Report By Grade; By Application; By End-Use, By Regions Segments & Forecast, 2019 – 2026’, available with Market Study Report, global polyvinyl chloride (PVC) market is reckoned to record a 7.2% CAGR during 2020-2026, subsequently accounting for USD 108.12 billion by the end of the study period.
 

Growing product demand from several applications such as packaging, automotive, building & construction, and electrical & electronics is one of the key factors driving the growth of global polyvinyl chloride market. Polyvinyl chloride is basically a vinyl chain polymer and is known to be the largest produced synthetic commodity chemical.
 

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The product consists of an amorphous structure and offers oil, chemical, and fire resistance. It is also durable, abrasion resistant, and offers an exceptional mechanical strength, and hence is augmenting global polyvinyl chloride industry remuneration.
 

Additional factors such as growing population, rising per capita income, rapid expansion of construction sector, and mounting demand for vehicular components are adding traction to the overall market size. Increasing production of steel and construction pipes owing to shifting preferences towards developing green infrastructure could however hamper global polyvinyl chloride industry expansion.
 

Regardless, technological breakthroughs have resulted in the development of PVC-O, PVC-M, and modified PVC, which in turn could contribute towards the overall business dynamics.
 

From the regional perspective, Asia-Pacific currently accounts for the largest market share and is set to register consistent growth throughout the study period. China, being the largest PVC importer, coupled with growing demand for the product from Thailand, Indonesia, Vietnam, and India are favoring the regional market scenario.
 

The United States and Europe are also some of the prominent markets for polyvinyl chloride.
 

Formosa Plastics Corporation, Solvay S.A., Xinjiang Zhongtai Chemical Co. Ltd., Vinnolit GmbH & Company KG, Shin-Etsu Chemical Co. Ltd., Ineos Chlorvinyls Ltd., Axiall Corporation, Mexichem, S.A.B. de C.V., Occidental Petroleum Corporation, and KEM ONE are the prominent companies operating in global polyvinyl chloride market.