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The global market for polyvinyl chloride resins is one of the markets with growing demand in the plastic and polymer industrial sector. It is currently on the rise and is valued at $XXm as of 2014. The global PVC resins market is estimated to grow at a CAGR of X% through the forecast period of 2015-2020 owing to the numerous advantages it offers over other polymer resins such as high durability, versatility, economic viability, chemical resistance, recyclability, thermal and electrical insulation and so on.
The global market for polycarbonate resins in 2014 is spread throughout the Americas, Europe, Asia-Pacific and Rest of the world. China, U.S. and Western European countries such as U.K. and Germany lead the global PVC resin market, which when combined accounted to over 60% of the market share.
As the construction industry in industrially developed regions such as North America and Europe recovers from recession effects, the demand for PVC is estimated to rise. In Japan, PVC resins are used in the making of PVC windows to minimize heating and cooling expenses, owing to PVC’s thermo-insulating properties.
Building and construction and piping applications account for more than half of the market revenue in 2014 with increasing usage of PVC in pipe fittings, mosquito nets, fencings, doors, windows and window frames and so on. Their replacements to construction materials such as metals, glass and wood is steadily increasing which contributes to the growth of PVC industry for building and construction purposes.
The usage of resins, especially polyvinyl chloride in the medical industry is primarily for consumables and disposable items. It is estimated that in 2016, the global resin market would be dominated by polyvinyl chloride (PVC) resins which will occupy about 35% of the global resins market catering for disposable medical supplies.
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