Vinyl Chloride Monomer Market - By Application (PVC, Copolymer Resins, Chlorinated Solvents) By End-Use (Building & Construction, Healthcare, Agriculture, Electrical & Electronics, Automotive), By Region & Global Forecast to 2032

Vinyl Chloride Monomer Market Size

Vinyl Chloride Monomer Market size reached USD 65 billion in 2022 and is poised to depict more than 7% CAGR between 2023 and 2032. Emphasis on PVC production capacity expansion to foster global market trends.
 

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PVC (polyvinyl chloride) is utilized as a common plastic material for building and construction, given its abrasion resistance, mechanical strength, cost-effectiveness, safety, and low environmental impact. In developed nations, expenditure on residential construction and infrastructural renovation projects has risen. In September 2022, the in the U.S. residential construction sector registered revenue of over USD 925 billion. Such factors will augment the demand for materials with technical advantages in building and construction applications and consequently boost the vinyl chloride monomer market development.
 

Despite the favorable growth trajectory, the use of VCM is associated with negative health impacts. Short-term exposure to this compound may impact the central nervous system and result in dizziness, headaches, and drowsiness, limiting product usage to some extent. However, there has been a rising emphasis on amplifying PVC manufacturing expansion.
 

Vinyl Chloride Monomer Market Analysis

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The Vinyl chloride monomer market from the PVC applications is projected to witness nearly 7.5% CAGR through 2032, considering its recyclability, cost-effectiveness, and reliability. PVC plastics are becoming more used in the production of tubes, pipes, windows, floors, and other building materials. Given its combination of exceptional versatility and unique technical features, PVC can assist meet the needs of modern architecture and medical solutions. Considering its resistance to weathering, chemical corrosion, roots, abrasion, and shock, which all contribute to product consumption, it is also a recommended option for long-lasting and outdoor products.
 

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Vinyl chloride monomer market revenue from the building & construction end-use segment will surpass USD 100 billion by 2032. The strong government focus on infrastructural development and megacity construction projects is a key factor bolstering product use, especially in emerging nations. Based on data from IBEF, in Union Budget 2022-2023, the Indian government allocated USD 130.57 billion to push the growth of the infrastructure sector. Such initiatives will escalate the adoption of durable and cost-effective PVC across the building and construction sector and in consequence, fuel the demand for vinyl chloride products.
 

Additionally, the vinyl chloride monomer market value from the healthcare end-use segment is slated to cross USD 1.5 billion by 2032, as a result of its broad application scope in life-saving blood bags and medical devices. There has also been a rise in awareness of the high performance, safety, versatility, and low cost of PVC, making it suitable for use in single-use medical device manufacturing. Rising budget allocation to boost health systems will therefore drive VCM usage.
 

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North America vinyl chloride monomer market is estimated to observe over 7.5% CAGR through till, on account of the mounting healthcare expenditure in the region. As per statistics from the Centers for Medicare & Medicaid Services, in 2021, healthcare spending rose by 2.7% to reach USD 4.3 trillion in the U.S. Since VCM is utilized in the production of blood bags, catheters, dialysis bags, and IV bags, the surging health spending will add impetus to the regional industry expansion.
 

Vinyl Chloride Monomer Market Share

The competitive landscape of the vinyl chloride monomer industry comprises companies such as:

• Westlake Corporation
•  ACG Chemicals AG
•  Shin-Etsu
•  Formosa Plastics Group
•  Qatar Vinyl Company Petroquimica
•  Innovay, and Reliance Industries

 These companies are focusing on production capacity expansion and other initiatives to reinforce their presence in the global market.
 

Impact of COVID-19 Pandemic

The COVID-19 outbreak asserted long-term impacts on healthcare systems worldwide. To ensure rapid recovery from the crisis, several institutions have been introducing financial support for the healthcare industry. For instance, in October 2022, the European Investment Bank provided USD 14 million to strengthen the healthcare system and boost recovery from the pandemic. Such investment will likely proliferate medical device development and consequently fuel global VCM industry value.
 

This vinyl chloride monomer market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in million tons and revenue in USD Billion from 2018 to 2032 for the following segments:

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By Application

• PVC
• Copolymer resins
• Chlorinated solvents

By End-user

• Building & construction
• Healthcare
• Agriculture
• Electrical & electronics
• Automotive
• Others

The above information is provided on a country basis for the following:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Russia
  • Spain
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Australia
• Latin America
  • Brazil
  • Mexico
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa