Vinyl Chloride Monomer (VCM) Market Size, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI3877
Vinyl Chloride Monomer Market size is likely to propel significantly from 2019 to 2025 due to strong product demand from construction, healthcare and electronics industry. It is an organochloride manufactured by heating ethylene dichloride (EDC) in the presence of oxygen. It is mainly utilized to process polyvinyl chloride (PVC), which is a colorless, highly toxic flammable gas that readily forms a liquid under increased pressure or at reduced temperatures. It is one of the largest producing petrochemical in the world, with the U.S. producing the largest chunk of VCM globally due to its cost advantage in chlorine and ethylene raw materials. On the other hand, China is the largest consumer of VCM. Global vinyl chloride monomer market is poised to grow substantially owing to rising building & construction sector in developing nations which will boost PVC demand for piping applications over the forecast timespan.
Product act as a precursor to polyvinyl chloride (PVC), which is then utilized by building & construction, automotive, healthcare, electrical sector etc. Growing applicability of PVC in such end-users for pipe & fittings, floorings, windows, cable & wires, floorings, tubes, etc. has created new possibilities for vinyl chloride monomer market. Growing industrial activities which involves piping in food & chemical processing, landfill liners are likely to trigger product demand, thus likey to drive the overall vinyl chloride monomer (VCM) market size by 2025.
Evolution in medical technologies which involves fabrication of medical equipment such as blood and intravenous bags, cardiac catheters, and artificial heart valves will augment product demand resulting in propelling market growth. Vinyl Chloride is described by the U.S. Department of Health and Human Services National Toxicology Program (NTP), as a known human carcinogen. Prolonged exposure to VCM in humans and animals is known to cause angiosarcoma of the liver. Environmental concerns such as carbon emission, global warming along with health-related issues are likely to hamper the global vinyl chloride monomer market size in the near future.
Based on the raw material, global vinyl chloride monomer market size can be divided into chlorine, ethylene, and oxygen. Vinyl chloride monomer is produced through thermal cracking of ethylene dichloride. Ethylene dichloride vapor breaks down, to produce anhydrous hydrogen chloride and vinyl chloride when heated in a cracking furnace under high pressure. On the other hand, chlorine is derived from brine and it also possess excellent inherent flame-retardant properties that are directly passed on to vinyl end-products, such as electrical conduit and wiring, which require high resistance to flame.
The end-use areas of vinyl chloride monomer market include building & construction, healthcare, agriculture, electrical & electronics, consumer durables and others. VCM act as a precursor in several industries. More than half of the total vinyl chloride consumption is for commercial, residential, and nonresidential construction products. Rising urbanization, along with growing construction spending by the governments in emerging economies to improve rail network, roads, residential areas, water supply etc. will have positive impact on the global vinyl chloride monomer market size in the coming years. Europe has made certain stringent policies to promote sustainable construction techniques which will help reduce greenhouse gas emissions and also improve energy efficiency.
Asia Pacific is projected to be the major vinyl chloride monomer market due to high degree of industrialization and construction activities in Asia Pacific countries and presence of huge production capability of VCM in the region. On the other hand, U.S. is the principal VCM manufacturer on account of technological development and low-cost raw materials availability. Availability of inexpensive ethane feedstock derived from shale gas, has led to gradual expansion of the U.S. vinyl chloride and PVC production capacities which will ultimately boost exports during the forecast period.
Global vinyl chloride monomer market is highly fragmented with presence of various industry players at global as well as local levels. Key players operating in this industry are Occidental Chemical Corporation, AGC Chemicals, Jubail Chevron Phillips, Ineos Styrolution, Lyondellbasell Industries, Reliance Industries, Qatar Vinyl Company Petroquimica Innovay, Bayer, Nova Chemical, DowDupont, BASF, LG Chem, Formosa Plastics Group, Axiall, Georgia Gulf Corporation etc.
Vinyl Chloride Monomer (VCM) Market, By Raw Material, 2014-2025 (Kilo Tons) (USD Million)
Vinyl Chloride Monomer (VCM) Market, By Application, 2014-2025 (Kilo Tons) (USD Million)
- Building & construction
- Electrical & Electronics
- Consumer durables
The above information has been provided for the following regions and countries:
- North America
- South Korea
- Latin America
- South Africa
- Saudi Arabia
- Occidental Chemical Corporation
- AGC Chemicals
- Jubail Chevron Phillips
- Ineos Styrolution
- Lyondellbasell Industries
- Petroquimica Innovay
- Nova Chemical
- LG Chem
- Formosa Plastics Group
- Georgia Gulf Corporation
- Reliance Industries
- Qatar Vinyl Company
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