What is Polyvinyl Chloride?
Polyvinyl Chloride is a tough chemically resistant synthetic resin made by polymerizing vinyl chloride. It is the third-most widely produced synthetic polymer of plastic in the world. The demand for PVC is increasing as they are cheap, durable, hard, easy-accessible, tensile, and very dense as compared to other plastics. They have wide applications including, films and sheets, wires and cables, pipes and fitting, bottles, roofing and ceiling, flooring, and others. Rigid PVC, Low-smoke PVC, and Chlorinated PVC are different types of PVC used in different industries. Increasing industrialization boosts the use of PVC in various end-use industries including automation, electronics, healthcare, packaging, and others. Stringent government regulations on the use of PVC due to its harmful effect are likely to hinder market growth.
Here are some of the driving factors that are increasing opportunities for the Polyvinyl Chloride market growth:
Growing demand for PVC in the end-use industry:
According to the European Bioinformatics Institution, about 40 million metric tons of PVC are produced every year. This shows the growing demand for PVC by end-use industries. The use of PVC is maximum in both residential and private sectors. Increasing demand for fast-moving consumer goods is likely to boost the Polyvinyl chloride market. PVC is a versatile material that offers many possible applications, hence used in large amounts by FMCG, construction, textile, automobile, packaging, electronics, and industrial equipment. Hence increasing the use of PVC by end-use industries will drive Polyvinyl Chloride for raising the shelf-life, and durability of products.
Growing building and construction industry:
According to the India Brand Equity Foundation, India's urban population increased by 230 million (1970-2010). The population of the world’s urban areas is increasing by 200,000 people per day. This shows the rising need for building and construction by the urban population. PVC is used in various applications of construction for water drinking distribution, drainage systems, cables, flooring, roofing, windows, and door. The rising demand in the building and construction industry drives the PVC market.
Here are some of the restraining factors that are increasing opportunities for Polyvinyl Chloride market growth:
The harmful effect of PVC on the environment:
Polyvinyl Chloride is non-biodegradable in nature which decreases soil fertility. The consumption of improperly disposed plastic bags causes ill effects and even death of animals as well as marine species. The waste from the plastic manufacturing industry is thrown into the water resources which causes water pollution. The toxins like phthalates and bisphenols released after PVC burning increase heart diseases, and disrupt neurodevelopment and reproductive function. To reduce plastic pollution, The Plastic Waste Management (Amendment) Rules, 2022, came into effect on July 1, 2022. The rule banned the nationwide manufacture, import, stocking, distribution, and sale of plastic and also tells to use specific single-use plastic items that have low utility and high littering potential. Hence declining use of plastics hindered the PVC market. Reducing, reusing, and recycling will again boost the plastic demand and ultimately drive the PVC market.
Conclusion:
Rigid PVC, Low-smoke PVC, and Chlorinated PVC are different types of PVC used in different industries. They are widely used in industries as they are cheap, durable, hard, easy-accessible, tensile, and very dense as compared to other plastics. Growing demand for PVC in the end-use industries like FMCG, construction, textile, automobile, packaging, and electronics and also growing building and construction sector across the world will drive the Polyvinyl Chloride market.
Author's Detail:
Manoj Phagare /
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Manoj Phagare is a dynamic and results-driven research analyst with a passion for transforming raw data into actionable insights. Armed with a solid foundation in market research and data analysis and working in various domains including chemical & materials and paints & coatings. He thrive on the challenge of uncovering patterns, trends, and opportunities that drive strategic decision-making.His analytical mindset, coupled with effective communication skills, allows him to bridge the gap between data analysis and practical business applications.
In his current role, Manoj is a key player in market research and competitive analysis. He have a proven track record of synthesizing disparate data sources, employing statistical models, and delivering comprehensive insights. He have played a pivotal role in shaping evidence-based strategies that fueled the success of key business initiatives and Collaborating with cross-functional teams.Manoj remains an invaluable asset in the dynamic landscape of market research.
