Vinyl Chloride Monomer Market size is anticipated to be worth USD 160 billion by 2032, as per a recent research report announced by Global Market Insights Inc.
The report indicates that the rise in healthcare expenditure will be a prominent reason behind the burgeoning vinyl chloride monomer production. Vinyl plays a crucial role in IV bags and other medical device development, the escalating investment in healthcare will likely boost the progress of vinyl chloride monomer manufacturers. With the growing elderly population, pharma product sales will further increase, thereby presenting lucrative opportunities for industry expansion over the estimated timeline.
Mounting consumer electronics sales to fuel VCM use in copolymer resin applications
Vinyl chloride monomer market value from the copolymer resins applications is projected to cross USD 1.5 billion by 2032. High strength, impact resistance, durability, and toughness are among the key attributes propelling the usage of vinyl chloride products in copolymer resin applications. The demand for premium consumer electronics has risen considerably over recent years. The report claims that this factor will hasten VCM adoption since copolymer resins are utilized in engineering components, given their low moisture absorption, chemical resistance, and other key features.
Rising electrification & public transport vehicle production drives vinyl chloride monomer demand
The vinyl chloride monomer industry share from the automotive end-user segment will register over 8.5% CAGR through 2023-2032. The report claims that this is a result of the paradigm shift in the automotive sector toward electrification. PVC is among the main polymers used in automotive plastics, due to its capability to withstand electrical currents and heat. With the increased need for mobility solutions and the subsequent rise in passenger car and public transportation vehicle production, therefore, the vinyl chloride monomer will surge globally.
Browse key industry insights spread across 250 pages with 316 market data tables & 44 figures & charts from the report, “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” in detail along with the table of contents:
Urbanization & construction sector growth to escalate VCM development in APAC
Latin America vinyl chloride monomer market share is also slated to depict over 7.5% CAGR through 2032, which can be credited to the increasing population and foreign investment in building and construction. Likewise, in middle- and high-income households in Argentina and Brazil, consumer investments in electrical and electronic devices have also surged. Moreover, industrialization and rising disposable income will add impetus to the growth of VCM manufacturers across the region.
Business expansion strategies to define the competitive industry landscape
The competitive landscape of the global vinyl chloride monomer market consists of companies such as Westlake Corporation, Qatar Vinyl Company Petroquimica, ACG Chemicals AG, Shin-Etsu, Formosa Plastics Group, Innovay, and Reliance Industries, among others. These market participants are incorporating varied growth strategies such as innovative product launches, partnerships, collaborations, mergers, and acquisitions to expand their consumer base and reinforce their footprint across the global market.