INEOS, Westlake Corporation and Formosa Plastics Corporation dominated the Global Plasticized Polyvinyl Chloride (PVC) Compound Market in 2021

Plasticized PVC compound are recycled on the basis of two groups, one is pre-consumer waste and another is post-consumer waste. The pre-consumer waste is the type of waste which is generated while the plasticized PVC is converted into final products. Another form of recycled group is post-consumer waste in which the end products are recycled such as medical devices, pipes and windows. Recycling depends on the type of plasticized PVC compound used, which is either rigid or flexible.   

The global plasticised polyvinyl chloride (PVC) compound market is expected to reach USD 5,920.19 million by 2029 from USD 4,383.36 million in 2022, growing with a substantial CAGR of 4.4% in the forecast period of 2022 to 2029. The increasing demand for tubes and profiles in a variety of sectors has increased the usage of plasticized PVC compound in the production of molding tubes and profiles. Hence, the growing demand for tubes and profiles is expected to drive the market growth.           

Growing building and construction activities in developing countries across the world will drive the market's growth rate

Plasticized PVC compound is the cost-effective compounding product that has resistance to water and therefore makes the walls free from corrosion with the changing environmental conditions. It is majorly used in windows, roofing, fencing, wallcoverings, and flooring. Plasticized PVC compound is used in building walls as it can withstand tough weather conditions; with that, PVC protects outer walls by resisting heat. Plasticized PVC compound acts as a trusted and relevant material that is used in cables and electrical wirings. And with that, plasticized PVC compound doesn't lead to catch any fire due to short circuit or any other kind of problem and protects the wires from corrosion, which happens due to the passage of time.  

Report Scope and Market Segmentation

Segment Analysis:

The global plasticised polyvinyl chloride (PVC) compound market is categorized into four notable segments which are based on form, manufacturing process, application, and end-use.

• On the basis of form, the market is segmented into dry and wet. In 2022, the dry segment is expected to dominate global plasticised polyvinyl chloride (PVC) compound market with 75.60% market share as it has great strength and softness and is widely used in number of applications which is going to increase its demand in the forecast period.
• On the basis of manufacturing process, the market is segmented into injection molding, extrusion, and others. In 2022, the injection molding segment is expected to dominate the global plasticized polyvinyl chloride (PVC) compound market as a large variety of products are manufactured using injection molding which differs greatly in size, complexity and application which is going to increase its demand in the forecast period.
• On the basis of application, the market is segmented into film and sheet, wire and cabling, pipe and fitting, profiles, and tubes and others. All the segments are further segmented by product into dry and wet. In 2022, the film and sheet segment is expected to dominate the global plasticized polyvinyl chloride (PVC) compound market as plasticised PVC films and sheets can be customized and save cost, increasing its consumer appeal which is going to increase its demand in forecast period.
• On the basis of end-use, the market is segmented into medical, building and construction, packaging, automotive, consumer goods, electrical and electronics, and others. All the segments are further segmented by product into dry and wet. In 2022, the electrical and electronics segment is expected to dominate the global plasticized polyvinyl chloride (PVC) compound market as plasticized polyvinyl chloride (PVC) compound is widely used to increase their electrical conductivity which is going to increase its demand in forecast period.

Major Players  

Data Bridge Market Research recognizes the following companies as the market players in plasticised polyvinyl chloride (PVC) compoundmarket: 3M (U.S.), XPEL, Inc. (U.S.), Dow (U.S.), Eastman Chemical Company (U.S.), Hexis S.A.S (France),PremiumShield (U.S.) STEK-USA (U.S.), Reflek Technologies Corporation (U.S.), GRAFITYP (Belgium), ORAFOL Europe GmbH (Germany), DuPont (U.S.), DAIKIN (Japan)Optic Shield (Czechia), Solvay (Belgium), SCHWEITZER-MAUDUIT INTERNATIONAL, INC. (U.S.), Saint-Gobain (France) and Avery Dennison Corporation (U.S.).

Market Development

• In December 2021, Roscom Inc was acquired by Geon Performance. This development helped the company to increase its revenue and work effectively.
• In January 2022, Westlake launched GreenVin Polyvinyl Chloride (PVC), a lower-carbon alternative PVC. It is launched by one of its subsidiaries, Vinnolit subsidiary in Germany. It is mostly used in construction, automotive and medical sectors. This will help company to increase its product portfolio.  

Regional Analysis

Geographically, the countries covered in the plasticised polyvinyl chloride (PVC) compound market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

As per Data Bridge Market Research analysis:

Asia-Pacific is the dominant region in plasticised polyvinyl chloride (PVC) compound market during the forecast period 2022 - 2029

Asia-Pacific is dominating the market due to the recycling abilities of plasticized PVC medical devices and growing building and construction activities in developing countries. Due to the recovery initiative in plasticized PVC compounds in the region and the plasticized polyvinyl chloride (PVC) compound, manufacturers are engaged in developing new plasticized polyvinyl chloride (PVC) compounds products in the region is propelling the region's demand for plasticized polyvinyl chloride (PVC) compound.

North America is estimated to be the fastest growing region in plasticised polyvinyl chloride (PVC) compound market the forecast period 2022 - 2029

North America will score the highest growth rate due to the major players' increased focus on this region. Moreover, the prevalence of advanced infrastructure in the region will further create lucrative growth opportunities.

COVID-19 Impact

COVID-19 impacted various manufacturing industries in the year 2020-2021 as it led to the closure of workplaces, disruption of supply chains, and restrictions on transportation. However, no significant impact was noticed on their plasticized polyvinyl chloride (PVC) compound global operations and supply chain, as the import and export of vaccines and essential goods led to the increasing demand for plasticized polyvinyl chloride (PVC) compound. This growing awareness and governmental push for the research and development and introduction of new plasticized polyvinyl chloride (PVC) compounds increase the growth of global plasticized polyvinyl chloride (PVC) compound market.

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