Vinyl Chloride Monomer Market Size By Application (PVC, Copolymer Resins, Chlorinated Solvents) By End-Use (Building & Construction, Healthcare, Agriculture, Electrical & Electronics, Automotive), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032

Industry Statistics

Vinyl Chloride Monomer Market size reached USD 65 billion in 2022. Considering the increased spending on residential construction, industry is set to depict more than 7% CAGR through 2023-2032.
 

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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 profitability of vinyl chloride monomer manufacturers.
 

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.
 

Unique technical properties boost interest in PVC for construction and medical applications

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Vinyl chloride monomer market size from PVC applications is projected to register over 7.5% CAGR through 2032, considering its recyclability, cost-effectiveness, and reliability. PVC plastics are gaining traction in the development of tubes, pipes, windows, flooring, and other construction products. Due to the combination of extreme versatility and unique technical properties, PVC can help meet the needs of modern architecture and medical solutions. It is also a preferred choice for long-life and outdoor products, considering its resistance, to weathering, chemical corrosion, rooting, abrasion, and shock, contributing to product consumption.
 

Budget allocation for infrastructure and medical device manufacturing to spur VCM use

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Vinyl chloride monomer market share from building & construction end-use segment will register revenue worth over 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, VCM 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 over the estimated timeline.
 

North America becomes a prominent revenue pocket for vinyl chloride monomer producers

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North America vinyl chloride monomer market size is expected to record over 7.5% CAGR through 2023-2032, 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 expansion of the regional VCM industry over the estimated timeline.
 

Strategic manufacturing expansions to strengthen VCM industry landscape

Competitive landscape of the vinyl chloride monomer market comprises companies such as Westlake Corporation, ACG Chemicals AG, Shin-Etsu, Formosa Plastics Group, Qatar Vinyl Company Petroquimica, Innovay, and Reliance Industries, among others. These companies are focusing on production capacity expansion and other initiatives to reinforce their presence in the global industry.
 

Impact of COVID-19 pandemic on vinyl chloride monomer market outlook

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 over the forecast period.
 

The global 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:

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