New York, NY -- (SBWIRE) -- 05/02/2019 -- Polyvinyl chloride (PVC) is the third-most widely produced polymer, after polyethylene and polypropylene. PVC is one the most widely used plastics and is produced by polymerization of the monomer vinyl chloride. PVC has an amorphous structure with polar chlorine atoms and has fire retardant properties and oil/chemical resistance. PVC is widely used in construction, packaging, automotive and electrical industries due to the various properties such as light weight, good mechanical strength, abrasion resistance and toughness associated with it. PVC can be bifurcated into two basic forms: rigid and flexible. The rigid form of PVC can be used in manufacturing of pipes, doors and windows and plastic bottles. The flexible form of PVC can be used in plumbing, electrical cable insulation, imitation leather and signage.

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On the basis of product type, PVC market is classified as wire and cable, pipes and fittings, bottles and others. Based on the application, PVC market is divided into two segments: rigid polyvinyl chloride and flexible polyvinyl chloride. The PVC market is also segmented on the basis of their end-users: automotive, electrical, construction, packaging and others.

Asia Pacific is the largest market for PVC market accounting for more than 50% of the global PVC market. Asia Pacific region is expected to show a good growth rate over a forecasted period due to high growth potential of building and construction industry. China represents the largest market for PVC in the Asia Pacific region. Europe is the second largest market for PVC, followed by North America.

The market of Polyvinyl chloride (PVC) is expected to witness a double digit growth rate in the coming years. Some of the major drivers contributing the overall market growth of Polyvinyl chloride (PVC) market include high growth in the building and construction sector, high growth in the automobile industry and growing medical devices. Some of the major restraints for PVC market include increasing competition from steel and concrete pipes and prohibited use of PVC in the construction of green building.

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Some of the major companies operating in the PVC market include Occidental Petroleum Corporation, Solvay S.A., Shin-Etsu Chemical Co. Ltd., Formosa Plastics Group, Ineos Chlorvinyls Ltd, Xinjiang Zhongtai Chemical Co. Ltd., Mexichem S.A.B., KEM one and Axiall Corporation.