The global crosslinked PVC market generated US$ 1.36 billion in sales in 2023, and by the end of 2033, it is expected to reach US$ 2.46 billion. By the conclusion of the forecast period (2023 to 2033), Asia Pacific is anticipated to hold a significant portion of the global market.
The demand for infrastructure development has been fueled by the world’s rapid industrialization and urbanization, which is expected to eventually increase sales of crosslinked PVC. Over the next ten years, it is also anticipated that rising use in the automotive industry and rising knowledge of the advantages of crosslinked PVC will support market growth. However, crosslinked PVC is expected to face significant difficulties due to the fluctuation in the price of raw materials.
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This elaborate crosslinked PVC market survey by skilled analysts at Fact.MR, a market research and competitive intelligence provider, has detailed new developments made by leading companies in the market, such as Kaneka Corporation, Sicomin Epoxy Systems, and SAE International, among others.
Key Takeaways from the Market Study
- The global crosslinked PVC market stands at a valuation of US$ 1.36 billion in 2023.
- Over the next ten years, crosslinked PVC demand is projected to increase at a healthy CAGR of 6.1%.
- The global market is anticipated to reach a value of US$ 2.46 billion by 2033.
- Growing industrialization, high demand for infrastructure development, rising automotive manufacturing, surging demand for electronics, and high investments in R&D of novel materials to comply with modern sustainability standards are key market drivers.
- Implementation of bans on the use of plasticized PVC products and volatility in raw material pricing are key constraints of the market.
- The market in the United States is forecasted to attain a value of US$ 745.56 million by 2033, expanding at 6.6% CAGR across the forecast period.
- Crosslinked PVC demand in the automotive industry is predicted to rise at 6.5% CAGR from 2023 to 2033.
- Flexible crosslinked PVC shipments are projected to increase at 5.8% CAGR over the next ten years as their preference rises in several industry verticals.
Increased Residential Building Activity Is a Major Driver of the US Market
Due to the recent surge in interest in the residential real estate market in the United States, there are now many more homes being built across the nation. It is anticipated that during the following 10 years, rising demand for crosslinked PVC products in residential construction will sustain exports of the substance by itself.
Extrapolation indicates that at the end of the forecast period, the US market for crosslinked PVC will generate revenues of US$745.56 million at a compound annual growth rate (CAGR) of 6.6%.
On the other side, the US Federal Reserve’s recent hike in interest rates has reduced the rate of home construction. The aforementioned factor is projected to cause concern for crosslinked PVC suppliers in the United States for some time in the future; but, if all goes as planned for the country’s economy, the market is anticipated to recoup.
Key Companies Profiled in this report
- Kaneka Corporation
- Sicomin Epoxy Systems
- SAE International
- Westlake Chemical Corporation
- Shin-etsu Chemicals Limited
Why Asian Countries are Key Markets for Crosslinked PVC Companies?
A key component of economic growth is industrialization, and governments of developing nations in the Asia Pacific area have been introducing incentives and measures to draw in new investors. Crosslinked polyvinyl chloride producers have safe havens in nations like China, India, South Korea, and Japan thanks to the accessibility of cheap labour and raw materials.
The Ministry of Petroleum and Natural Gas of India stated in December 2022 that the global oil and gas corporation Indian Oil Corporation Ltd. will invest more than US$ 400 billion in the construction of a PVC manufacturing facility in Gujrat, India.
By the end of 2033, the demand for crosslinked PVC in Japan is anticipated to reach an estimated value of US$81.45 million.
Crosslinked PVC manufacturers should extensively focus on expanding their production capacity to satisfy high demand originating from the flourishing construction and automotive sectors. Companies should also focus on making their products eco-friendly and sustainability compliant to stay relevant in the eco-conscious landscape of the future.
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Key Segments of Crosslinked PVC Industry Research
- By Type :
- Rigid Crosslinked PVC
- Flexible Crosslinked PVC
- By Moulding Process :
- Calender Moulding
- Injection Moulding
- Extrusion Moulding
- By End-use Industry :
- Building & Construction
- Electricals & Electronics
- By Region :
- North America
- Latin America
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global crosslinked PVC market, presenting historical demand data (2018 to 2022) and forecast statistics for the period (2023 to 2033).
The study divulges essential insights on the market based on type (rigid crosslinked PVC, flexible crosslinked PVC), moulding process (calender moulding, injection moulding, extrusion moulding), and end-use industry (building & construction, automotive, packaging, electricals & electronics, others), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
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