COVID19: PVC ADDITIVES MARKET TO REACH USD 5.2 BILLION BY 2027 | CAGR 4.5% — FORENCIS RESEARCH
Global PVC Additives Market: Key Highlights
- According to the new market research report “PVC Additives Market by Type (Stabilizers, Impact Modifier, Plasticizers, Phthalates, Lubricants), by Fabrication Process (Extrusion, Injection Molding), by Application (Pipes & Fittings, Profile & Tubing, Rigid Sheet & Panel, Wires & Cables, Bottles), by Region (North America, Asia Pacific, Europe, Middle East & Africa, South America) — Global Forecast (2020 to 2027)”, the global PVC Additives market is estimated to reach USD 5.2 Billion by 2027 at a CAGR of around 4.5% during the review period.
- Polyvinyl chloride (PVC) is a versatile and resource-efficient thermoplastic with the widest range of applications of the plastics family making it useful in several industries
- PVC is one of the most popular plastics used in building and construction. It is used in drinking water and wastewater pipes, window frames, flooring and roofing foils, wall coverings, cables and many other applications as it provides a modern alternative to traditional materials such as wood, metal, rubber and glass.
- The European Council of Vinyl Manufacturers (ECVM) estimates that around 150kg of plastics are used within an average vehicle.
Global PVC Additives Market: Key Market Dynamics
- PVC is replacing the conventional material in all the end-use industries due to its superior properties, which is likely to drive the global PVC additives market
- the increasing investment in the construction sector, growing medical and automotive sector has expected to drive the global PVC additives market during the forecasted period.
- However low R&D expenditure in the emerging markets a major restraining factor for the growth of the PVC Additives market
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Global PVC Additives Market: Regional Overview
The Asia-Pacifc region is expected to account for the largest share in the global PVC additives market during the forecast period, owing to more emphasis on construction and infrastructure segment. Moreover, growing automotive sector in the this region also a major factor that driving the PVC additives market in the Asia-Pacifc Region.
Europe is a quite matured markets for PVC Additives and are expected to grow at slower rate compared to the Asia-Pacific region. The increasing use of plastics to reduce vehicle weight and enhance fuel economy, growing demand from the construction industry, and increasing applications in the healthcare industry is driving the PVC additives market in the Europe region. Moreover, stringent regulations in the energy sector imposed by the government, increased consumer awareness on environment safety & carbon emissions also boosting the PVC market in this region.
Global PVC Additives Market: Key Players Overview
- BASF SE.:
BASF SE is one of the leading chemical company across the globe. The Company’s portfolio comprised of six business segments including Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care and Agricultural Solutions. The Chemicals segment consists of the Petrochemicals and Intermediates divisions. The Materials segment consists of Performance Materials and Monomers divisions. BASF SE has Approximately 3,000 research project and 361 production plant worldwide. In January 2020, BASF SE has developed an Ultradur (Ultradur B4040 G11 HMG HP green 75074) that can be used for co-extrusion with PVC.
- Arkema SA:
Arkema SA engaged in the manufacturing of both industrial chemicals and performance products. The company operates through four business segments namely, advanced material, coating solutions, adhesives, and intermediates. Through these business segments, Arkema SA offers market solutions such as 3D printing, adhesives & sealants, automotive & transportation, building & construction, coating, paints, inks, composite & advanced materials, electronics & electricals, oil & gas, cooling & refrigeration and many others. Arkema SA has its strong presence globally sales over 55 countries with approximately 144 manufacturing sites, 6 research & development sites.
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