Global demand for polyvinyl chloride (PVC) is expected to increase about 3.2% per year until 2021, according to market research organization Ceresana.
PVC is a key product of the chemical industry and, along with polypropylene and polyethylene, one of the most widely produced plastics. Approximately 39.3 million tonnes of PVC were consumed globally in 2013.
Asia-Pacific has 56% of the global market share, making it the largest sales market. The report says this market is also poised to see the strongest growth in the foreseeable future. North American and Western European markets are back on a growth path following losses in previous years.
The construction industry is the prime sales market for PVC products. In China, while there has been slowing, construction in China is still growing at higher rates than in most other countries.
In India, which Ceresana calls one of the world PVC market's "growth motors," demand is expected to increase 4.9% per year.