San Francisco, California (PRWEB) August 25, 2014
The global market for polyvinyl chloride (PVC) is expected to reach USD 79.11 billion by 2020, according to a new study by Grand View Research, Inc. Increasing construction and infrastructure spending in emerging markets of Asia Pacific and Latin America is expected to remain a key driving factor for global PVC demand. In addition, growth of global automotive industry is also expected to have a positive influence on the market. Volatile raw material prices coupled with the stringent regulatory scenario, particularly in North America and Europe to limit or minimize PVC use for medical applications are expected to remain key challenges for market participants. In order to overcome such challenges, the industry has shifted its focus towards developing bio-based alternatives to PVC which is expected to provide future opportunities for market participants.
Construction emerged as the leading application segment and accounted for 55.7% of the total market volume in 2013. Increasing construction spending in BRICS nations on account of organization of global events such as FIFA World Cup and Summer Olympics in these nations is expected to drive the demand for PVC in construction industry. Electrical & electronics is expected to be the fastest growing application segment at an estimated CAGR of 5.4% from 2014 to 2020. Growth of Chinese and Taiwanese electronics industry is expected to spur growth for PVC in electrical & electronics industry.
The report “Polyvinyl Chloride (PVC) Market Analysis By Application (Construction, Consumer, Packaging, Electrical & Electronics, Transportation) And Segment Forecasts To 2020” is available now to Grand View Research customers at http://www.grandviewresearch.com/industry-analysis/polyvinyl-chloride-pvc-market.
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Further key findings from the study suggest:
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For the purpose of this study, Grand View Research has segmented the polyvinyl chloride (PVC) market on the basis of application and region:
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