The market for bio-based polyvinyl chloride (PVC) is expected to grow at a CAGR of over 4% during the forecast period. The major factor driving the growth of the bio-based polyvinyl chloride market is the strict government guidelines due to increasing environmental safety and protection concerns. On the other side, the unfavorable situation emerging because of the abrupt outbreak of COVID-19 is foreseen to thwart the growth of the market studied.
Key Highlights
- Building & construction industry is anticipated to dominate the bio-based PVC market during the forecast timeframe.
- Asia-Pacific is expected to be the largest market due to the large-scale consumption of bio-based polyvinyl chloride products in various end-user industries in the region.
Key Market Trends
Building & Construction Industry to Dominate the Bio-Based PVC Market
- Bio-based Polyvinyl Chloride (PVC) finds application in various areas in the building and contruction sector including pipes, cables, flooring, and others.
- In 2019, the global spending of the building & construction industry was estimated at about USD 11 trillion and it is expected to reach around USD 14 trillion by 2025.
- The United States contributed roughly USD 91.5 billion for new non-residential commercial construction in 2019. This spending is anticipated to reach more than USD 89.4 billion by 2023.
- Saudi Arabia, an oil-rich nation, is planning to shift its economic focus from oil, and therefore, the Saudi government has decided to invest over USD 450 billion in the development of its infrastructure under its Saudi Arabia vision plan 2030. It is expected to increase the revenue of the market studied.
- All the aforementioned factors are expected to drive the bio-based polyvinyl chloride market during the forecast period.
Asia-Pacific Region to Dominate Bio-Based Polyvinyl Chloride Market
- Asia-Pacific region holds a prominent share in the bio-based polyvinyl chloride market globally and is expected to dominate the market during the forecast timeline.
- By the end of 2020, Asia-Pacific is projected to lead the construction spending accounting for almost 46% of the share globally with counties like China, India, Indonesia making the major contribution in the industry.
- In 2019, the value of the Asia-Pacific luxury packaging market is estimated to be USD 4.78 billion and is anticipated to reach USD 7.02 billion by 2025.
- In 2019, the value added in the construction industry in China is estimated to be around 7090.4 Billion RMB.
- Thus, rising demand from various industries is expected to drive the market studied in the region during the forecast timeframe.
Competitive Landscape
The market for bio-based polyvinyl chloride is consolidated. Some of the players in the market include INOVYN, Bio-Tec Environmental, LLC, INEOS, ENSO Plastics, and Sylvin Technologies, Inc.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
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Table of Contents
1 INTRODUCTION
4 MARKET DYNAMICS
5 MARKET SEGMENTATION
6 COMPETITIVE LANDSCAPE
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Bio-Plastic Solutions, LLC
- Bio-Tec Environmental, LLC
- ENSO Plastics
- INOVYN
- Neste
- Nomaco
- Sylvin Technologies, Inc.
Methodology
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