PVC Industry Thrives Amid Global Urbanization

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Researched by Industrial Info Resources (Sugar Land, Texas)--Versatile and economical, durable and flexible, polyvinyl chloride (PVC) is a thermoplastic polymer used widely due to its ability to withstand pressure; resist water and heat; and insulate electricity. In the past few years, PVC has emerged as the third-most widely produced synthetic plastic polymer worldwide. It also is ideal for use in the packaging, vehicle and textile industries, as it is rigid and prone neither to moisture nor corrosion. Trends in fashion spurred demand for PVC shoes and accessories.

As stated by McKinsey in a July 2022 report, PVC has about 45% lower greenhouse gas (GHG) emissions than reinforced concrete, and 35% less than ductile iron, making it an ideal choice for the construction sector. About 70% PVC produced worldwide ends up in construction, where it is used in durable, cost-effective and recyclable products like pipes, windows, cables, flooring and roofing, according to the European Council of Vinyl Manufacturers (ECVM).

Industrial Info is tracking more than 100 active capital-spending projects, totaling more than US$17 billion in investment, aimed at producing PVC. Most of the spending is geared toward grassroot projects (US$6 billion), unit additions (US$10 billion) and plant expansions (US$875 million).

Asia accounts for 76.5% of the overall spending across 72 projects, led by China (US$6.9 billion), India (US$2.4 billion) and Russia (US$1.2 billion). Other countries driving potential investments are Egypt, the U.S., Kazakhstan and Uzbekistan.

The three major players in the market are Zhejiang Satellite Holding Group Company Limited (Jiaxing, China), Adani Group (Gujarat, India) and Platinum Industries Limited (Maharashtra, India). As the leading investor, Zhejiang is planning to add units to its plant in Lianyungang, Jiangsu, to produce 2.4 million metric tons per year of PVC resins. The project is scheduled to commence in December 2025 and be completed by March 2028. Subscribers to Industrial Info's Global Market Intelligence (GMI) Chemical Processing Project and Plant databases can learn more from a detailed project report and plant profile.

Subscribers can click here for a full list of detailed reports for PVC projects worldwide, and click here for a full list of related plant profiles.

Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).