Vinyl Chloride Monomer Market - By Application (PVC, Copolymer Resins, Chlorinated Solvents) By End-Use (Building & Construction, Healthcare, Agriculture, Electrical & Electronics, Automotive) & Global Forecast to 2032
Published Date: July - 2024 | Publisher: MRA | No of Pages: 240 | Industry: Chemical | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationVinyl Chloride Monomer Market - By Application (PVC, Copolymer Resins, Chlorinated Solvents) By End-Use (Building & Construction, Healthcare, Agriculture, Electrical & Electronics, Automotive) & Global Forecast to 2032
Vinyl Chloride Monomer Market Size
Vinyl Chloride Monomer Market size was valued at over USD 83.6 billion and is estimated to register more than 7.7% CAGR between 2024 and 2032 driven by its crucial role in the production of polyvinyl chloride (PVC), which is widely used in various industries due to its versatility and durability.
To get key market trends
The booming construction industry, especially in emerging economies, is significantly increasing the demand for PVC pipe, fittings and profiles incorporated with vinyl chloride monomer (VCM). Increasing reliance of the automotive industry on lightweight and durable materials to improve fuel efficiency and reduce carbon emissions has led to the surge in the demand for PVC products.
| Report Attribute | Details |
|---|---|
| Base Year | 2023 |
| Vinyl Chloride Monomer Market Size in 2023 | USD 83.6 Billion |
| Forecast Period | 2024 - 2032 |
| Forecast Period 2024 - 2032 CAGR | 7.7% |
| 2032 Value Projection | USD 164.2 Billion |
| Historical Data for | 2021 - 2023 |
| No. of Pages | 175 |
| Tables, Charts & Figures | 220 |
| Segments covered | Application, End-Use |
| Growth Drivers |
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| Pitfalls & Challenges |
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What are the growth opportunities in this market?
"Hey there, The plastic industry is on a roll, thanks to some big companies stepping up their game in production and rolling out new products. Think better factories and eco-friendly ways to make this stuff. And guess what? People are loving it! The world is getting more crowded, and cities are booming. So, it's no wonder that we're seeing more and more PVC products in our lives—from buildings to water pipes. And let's not forget about hospitals. PVC is a lifesaver when it comes to medical supplies like tubes and bags, and its safety makes it a go-to in the healthcare world. So, yeah, the plastic industry is on a roll and doesn't look to be slowing down anytime soon."
Environmental concerns related to the manufacture and use of chemicals, especially carcinogens, have led to stricter regulations, increased compliance costs and limited industry expansion. Fluctuations in the price of crude oil, derived from ethylene is affecting production costs and complicating pricing strategies. Technological developments may also carry risks, forcing firms to innovate and differentiate to remain competitive, subsequently limiting the product demand to some degree.
Vinyl Chloride Monomer Market Trends
The demand for PVC in the construction, automotive and packaging industries is growing as it offers durability, flexibility, and cost-effectiveness. For instance, in May 2024, INEOS Inovyn launched PVC pilot plants in Belgium to advance PVC recycling technologies. Rapid advances in manufacturing are helping to improve efficiency and reduce environmental impacts, making vinyl chloride monomer more attractive. Increasing urbanization and infrastructure, especially in emerging economies, are also fueling the product demand. Increased awareness of sustainable practices has also led to innovations in PVC recycling and reusing, stimulating the market growth.
Vinyl Chloride Monomer Market Analysis
Learn more about the key segments shaping this market
Imagine a plastic material that's everywhere around you, from the pipes in your house to the window frames in your car. That's PVC, a super-useful and affordable material that's expected to be a money-maker by 2032. Why is PVC so popular? It's strong, can handle chemicals without getting ruined, and is easy to work with. It's like a superhero in the construction world, used for everything from pipes and plumbing to window frames and flooring. Even in hospitals, cars, and packaging, PVC is the star. But it's not just about being super handy. PVC is also getting a makeover to be more eco-friendly. Companies are coming up with new ways to make it and recycle it, making it a better choice for our planet. Plus, as cities keep growing and we need more buildings and roads, the demand for PVC is only going to go up. So, get ready for PVC to keep playing a big role in our lives for years to come.
Learn more about the key segments shaping this market
Based on end user industry, the VCM industry from the building & construction segment generated over USD 50.8 billion in 2023 and will witness 7.8% CAGR from 2024-2032. PVC is highly valued in construction due to its durability, low maintenance and low cost, making it ideal for pipes, fixtures, windows, doors, and floors. The shift towards more sustainable and energy-efficient construction solutions has stimulated the reuse of PVC as it offers excellent insulation and durability. All these factors combine to drive the product demand in PVC manufacturing, thereby increasing the market growth.
Looking for region specific data?
North America vinyl chloride monomer market industry size will record USD 23.4 billion by 2032. Advancements in shale gas extraction have provided a stable and cost-effective supply of ethylene in the region. Availability of well-established pharmaceutical companies have resulted in extensive R&D activities. Regulatory frameworks, such as the Toxic Substances Control Act (TSCA) to ensure compliance with safety and environmental regulations are building consumer confidence. Stringent building codes and regulations that promote the use of sustainable and safe building materials are fueling the growing adoption of PVC, stimulating the regional market growth.
Vinyl Chloride Monomer Market Share
Leading VCM firms are focusing on expanding production capacities through investments in advanced technologies and new facilities for ensuring a reliable supply to meet the growing demand. Strategic partnerships and mergers are leading to increased market share and operational efficiency. Manufacturing innovations, such as the creation of sustainable and environmentally friendly PVCs are further helping them address regulatory concerns and consumer preferences.
Vinyl Chloride Monomer Market Companies
Major players operating in the vinyl chloride monomer industry include
- ACG Chemicals AG
- Formosa Plastics Group
- Innovay
- Qatar Vinyl Company Petroquimica
- Reliance Industries
- Shin-Etsu
- Westlake Corporation
Vinyl Chloride Monomer Industry News
- In April 2023, AGC Inc. developed a Process Digital Twin technology for chemical plants and commenced operations at its VCM manufacturing plant in Indonesia
- In May 2023, Tarkett launched a non-PVC plank and tile flooring collection, highlighting its holistic approach to assisting organizations in meeting their sustainability goals.
The vinyl chloride monomer market report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue and volume (USD Million) (Tons) from 2024 to 2032, for the following segments
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By Application
- PVC
- Copolymer resins
- Chlorinated solvents
By End-user
- Building & construction
- Healthcare
- Agriculture
- Electrical & electronics
- Automotive
- Others
The above information is provided on a country basis for the following
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- Italy
- France
- Russia
- Spain
- Asia Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Australia
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
Table of Content
Report Content
Chapter 1 Methodology & Scope
1.1 Market scope & definition
1.2 Base estimates & calculations
1.3 Forecast calculation
1.4 Data sources
1.4.1 Primary
1.4.2 Secondary
1.4.2.1 Paid sources
1.4.2.2 Public sources
Chapter 2 Executive Summary
2.1 Industry 3600 synopsis
Chapter 3 Industry Insights
3.1 Industry ecosystem analysis
3.1.1 Key manufacturers
3.1.2 Distributors
3.1.3 Profit margins across the industry
3.2 Industry impact forces
3.2.1 Growth drivers
3.2.1.1 Raising Consumer spending on construction and infrastructural renovation projects
3.2.1.2 Increasing use of vinyl chloride monomer in healthcare sector
3.2.1.3 Growing consumption of polyvinyl chloride in the automobile industry
3.2.2 Market challenges
3.2.2.1 Negative health impact of vinyl chloride monomer
3.2.3 Market opportunity
3.2.3.1 New opportunities
3.2.3.2 Growth potential analysis
3.3 Raw material landscape
3.3.1 Manufacturing trends
3.3.2 Technology evolution
3.3.2.1 Sustainable manufacturing
3.3.2.1.1 Green practices
3.3.2.1.2 Decarbonization
3.3.3 Sustainability in raw materials
3.3.4 Pricing trends (USD/Ton)
3.3.4.1 North America
3.3.4.2 Europe
3.3.4.3 Asia Pacific
3.3.4.4 Latin America
3.3.4.5 Middle East & Africa
3.4 Regulations & market impact
3.5 Porter’s analysis
3.6 PESTEL analysis
Chapter 4 Competitive Landscape, 2023
4.1 Company market share analysis
4.2 Competitive positioning matrix
4.3 Strategic outlook matrix
Chapter 5 Market Size and Forecast, By Application, 2024-2032 (USD Million, Kilo Tons)
5.1 Key trends
5.2 PVC
5.3 Copolymer resins
5.4 Chlorinated solvents
Chapter 6 Market Size and Forecast, By End User, 2024-2032 (USD Million, Kilo Tons)
6.1 Key trends
6.2 Building & construction
6.3 Healthcare
6.4 Agriculture
6.5 Electrical & electronics
6.6 Automotive
6.7 Others
Chapter 7 Market Size and Forecast, By Region, 2024-2032 (USD Million, Kilo Tons)
7.1 Key trends
7.2 North America
7.2.1 U.S.
7.2.2 Canada
7.3 Europe
7.3.1 Germany
7.3.2 UK
7.3.3 France
7.3.4 Italy
7.3.5 Spain
7.3.6 Rest of Europe
7.4 Asia Pacific
7.4.1 China
7.4.2 India
7.4.3 Japan
7.4.4 South Korea
7.4.5 Australia
7.4.6 Rest of Asia Pacific
7.5 Latin America
7.5.1 Brazil
7.5.2 Mexico
7.5.3 Argentina
7.5.4 Rest of Latin America
7.6 MEA
7.6.1 Saudi Arabia
7.6.2 UAE
7.6.3 South Africa
7.6.4 Rest of MEA
Chapter 8 Company Profiles
8.1 Westlake Corporation
8.2 LG Chem (LG Corp)
8.3 Reliance Industries
8.4 Formosa Plastics Group
8.5 Qatar Vinyl Company Petroquimica Innovay
8.6 Nova Chemical
8.7 Jubail Chevron Phillips
8.8 Lyondellbasell Industries
8.9 Occidental Chemical Corporation
8.10 DowDupont
8.11 AGC Chemicals (AGC Inc.)
8.12 Bayer
8.13 Ineos Styrolution (INEOS AG)
8.14 Axiall (Westlake Chemical)
8.15 BASF
- ACG Chemicals AG
- Formosa Plastics Group
- Innovay
- Qatar Vinyl Company Petroquimica
- Reliance Industries
- Shin-Etsu
- Westlake Corporation
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