H2 2023: During H2 2023, in the Asia Pacific region, PVC prices remained mixed. The PVC price trend observed in the Quarter 3 of 2023 experienced an overall upward trajectory in the APAC region due to increased demand from the construction sector and robust market activity in the middle of the quarter 3. This surge was driven by factors such as expectations of a significant boost in downstream construction demand, leading to heightened offtake across regional markets. Simultaneously, the supply-side dynamics were influenced by rising Calcium Carbide prices in China and soaring crude oil costs, causing a ripple effect that constrained PVC production rates and created a bullish market environment. The disruptive impact of a typhoon event in August 2023 in China exacerbated supply challenges, resulting in constrained regional PVC availability. In response, market players raised prices to protect their profit margins, aligning with an uptick in international offers. However, as the quarter concluded, PVC prices shifted in a southward direction amid stabilized demand and ample stock availability. This stabilization was supported by a slowdown in procurement activities in the construction industry of the APAC region. Sufficient stock levels compelled traders and manufacturers to stabilize their quotations in both Asian and international markets.
H1 2023: During H1 2023, the top producer of Poly Vinyl Chloride (PVC) on an Asia Pacific scale was Formosa Plastics. In the first half of 2023, the Asia Pacific region was the top consumer of Poly Vinyl Chloride (PVC) by region, but the price of Poly Vinyl Chloride (PVC) fluctuated. Formosa Plastics, a global leader in PVC production capacity, encountered a setback in January 2023 when it necessitated the temporary closure of its plant in Taiwan for maintenance purposes, extending until the conclusion of February 2023. Despite its global prominence, the maintenance shutdown impacted the PVC market dynamics of China . The Asia Pacific region, a major consumer of PVC worldwide, experienced a decline in demand during H1 2023. This downturn was exacerbated by sluggish demand from the construction sector and a subsequent drop in PVC prices. The market saw an influx of inventories coupled with competitive pricing, contributing to the overall decline in PVC prices. The construction industry in Asia faced a significant reduction in projects, leading to widespread inventory availability and, consequently, heightened price volatility in the PVC market. The pipes and fittings industries, dependent on construction demand, witnessed lower offtakes, further influencing the PVC market. The lackluster demand in the construction sector, combined with slow offshore trading operations, particularly impacted pricing movements in the Asia Pacific region in H1 2023. Additionally, China's economic recovery, marked by insufficient progress, contributed to subdued consumer buying enthusiasm, shaping the overall scenario in the Chinese PVC market during this period.
The Asia Pacific Poly Vinyl Chloride (PVC) market demand stood at 17 million tonnes in 2023 and is expected to grow at a CAGR of 4.65% during the forecast period until 2033. Polyvinyl Chloride (PVC) is a versatile material with widespread applications across industries. In the construction sector, it is extensively employed for pipes, fittings, profiles, and cables due to its commendable durability, corrosion resistance, and cost-effectiveness. The electrical and electronics industry benefits from PVC's excellent electrical insulation properties, using it in the production of cables, insulation, and wiring for both power and communication purposes. Polyvinyl Chloride is a cost-effective and adaptable thermoplastic polymer. Its extensive applications span the building and construction sector, where it is utilized for manufacturing door and window profiles. Additionally, PVC is employed in various other applications such as the production of drinking and wastewater pipes, wire and cable insulation, medical devices, and more.
The Asia Pacific region emerges as the predominant force in shaping the Poly Vinyl Chloride (PVC) market landscape. This regional dominance is intricately tied to the rapid expansion of the electrical and electronic sector, which serves as a pivotal catalyst propelling the growth of the PVC market in Asia Pacific. The region stands out as a hub of dynamic innovation and prolific production, consistently striving to deliver superior-quality products that align with future market demands while ensuring cost-effectiveness. The rapid growth of the construction sector, which rely on PVC for fittings and pipes, has established Asia Pacific as a key player in the global PVC market.
Based on the end-user industry, the Asia Pacific Poly Vinyl Chloride (PVC) market is segmented into Pipe and Fittings, Profiles and Tubes, Films and Sheets, Bottles, Wires and Cables, and Others. The largest market share of PVC goes with high proportion in Pipes and Fittings about 42% in the year 2023.
Major players in the production of Asia Pacific Poly Vinyl Chloride (PVC) are Vinnolit GmbH, Formosa Plastics, ShinEtsu Chemical, LG Chem, Thai Plastic & Chemicals, Reliance Industries, Taiyo VinylM, Chemplast Sanmar, Hanwha Chemical, Finolex Industries, Hanwha Chemical, China General Plastics, TPC Vina Plastic, Vinyl Malasia, Engro Polymer & Chemicals, Ocean Plastics, Shin Daiichi Vinyl, DCW Ltd., and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2023
Estimated Year: 2024
Forecast Period: 2025-2033
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Objective of the Study:
• To assess the demand-supply scenario of Poly Vinyl Chloride (PVC) which covers production, demand and supply of Poly Vinyl Chloride (PVC) market in the globe.
• To analyse and forecast the market size of Poly Vinyl Chloride (PVC)
• To classify and forecast Asia Pacific Poly Vinyl Chloride (PVC) market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Poly Vinyl Chloride (PVC) market in the globe.
To extract data for Asia Pacific Poly Vinyl Chloride (PVC) market, primary research surveys were conducted with Poly Vinyl Chloride (PVC) manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Asia Pacific Poly Vinyl Chloride (PVC) market over the coming years.
ChemAnalyst calculated Poly Vinyl Chloride (PVC) demand across the Asia Pacific region by analysing the volume of Poly Vinyl Chloride (PVC) consumed by the end-user industries and the forecast is calculated based on the growth rate of end-use industries. ChemAnalyst sourced these values from industry experts and company representatives and externally validated them by analyzing the historical sales data of respective manufacturers to determine the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Poly Vinyl Chloride (PVC) manufacturers and other stakeholders
• Organizations, forums and alliances related to Poly Vinyl Chloride (PVC) distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Poly Vinyl Chloride (PVC) manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years, thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Asia Pacific Poly Vinyl Chloride (PVC) market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2023
17 million tonnes
Market size Volume by 2033
27 million tonnes
Growth Rate
CAGR of 4.65% from 2024 to 2033
Base year
2023
Estimated Year
2024
Historical Data
2015 – 2022
Forecast period
2025 – 2033
Quantitative units
Demand in million tonnes and CAGR from 2024 to 2033
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process, Foreign Trade.
Segments covered
By End-Use: (Pipe and Fittings, Profiles and Tubes, Films and Sheets, Bottles, Wires and Cables, and Others)
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Market Data & Insights
Table of Content
1. Industry Market Size
It is an essential metric for market analysis, as it provides insights into the overall size and growth potential of Poly Vinyl Chloride (PVC) market in terms of value and volume.
2. Capacity By Company
On our online platform, you can stay up to date with essential manufacturers and their current and future operation capacity on a practically real-time basis for Poly Vinyl Chloride (PVC).
3. Capacity By Location
To better understand the regional supply of Poly Vinyl Chloride (PVC) by analyzing its manufacturers' location-based capacity.
4. Plant Operating Efficiency
To determine what percentage manufacturers are operating their plants or how much capacity is being currently used.
5. Production By Company [Quarterly Update]
Study the historical annual production of Poly Vinyl Chloride (PVC) by the leading players and forecast how it will grow in the coming years.
6. Demand by End- Use [Quarterly Update]
Discover which end-user industry (Pipe and Fittings, Profiles and Tubes, Films and Sheets, Bottles, Wires and Cables, and Others) are creating a market and the forecast for the growth of the Poly Vinyl Chloride (PVC) market.
7. Demand by Region
Analyzing the change in demand of Poly Vinyl Chloride (PVC) in different regions, i.e., China, Japan, South Korea, India and the Rest of APAC, that can direct you in mapping the regional demand.
8. Demand by Sales Channel (Direct and Indirect)
Multiple channels are used to sell Poly Vinyl Chloride (PVC). Our sales channel will help in analyzing whether distributors and dealers or direct sales make up most of the industry's sales.
9. Demand-Supply Gap
Determine the supply-demand gap to gain information about the trade surplus or deficiency of Poly Vinyl Chloride (PVC).
10. Company Share
Figure out what proportion of the market share of Poly Vinyl Chloride (PVC) is currently held by leading players across the globe.
11. Country-wise Export
Get details about quantity of Poly Vinyl Chloride (PVC) exported by major countries.
12. Country-wise Import
Get details about quantity of Poly Vinyl Chloride (PVC) imported by major countries.
13. Manufacturing Process
Discover insights into the intricate manufacturing process of Poly Vinyl Chloride (PVC).
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into the worldwide outages affecting the commodity of interest. With every shutdown, it also reflects the impact on
supply of the product in the market at a Global level.
What was the size of Asia Pacific Poly Vinyl Chloride (PVC) market in terms of volume in 2023?
Ans:
The size of Asia Pacific Poly Vinyl Chloride (PVC) market has grown significantly in the historic period of 2015-2022 and reached approximately 17 million tonnes in 2023.
Q2.
Which industry is leading as the leading consumer of Poly Vinyl Chloride (PVC)?
Ans:
Pipe and Fittings industry is the leading consumer of Poly Vinyl Chloride (PVC).
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