Vinyl Chloride Monomer Market - By Application (PVC, Copolymer Resins, Chlorinated Solvents) By End-Use (Building & Construction, Healthcare, Agriculture, Electrical & Electronics, Automotive) & Global Forecast to 2032

Vinyl Chloride Monomer Market Size

Vinyl Chloride Monomer Market size was valued at over USD 83.6 billion and is estimated to register more than 7.7% CAGR between 2024 and 2032 driven by its crucial role in the production of polyvinyl chloride (PVC), which is widely used in various industries due to its versatility and durability.
 

The booming construction industry, especially in emerging economies, is significantly increasing the demand for PVC pipe, fittings and profiles incorporated with vinyl chloride monomer (VCM). Increasing reliance of the automotive industry on lightweight and durable materials to improve fuel efficiency and reduce carbon emissions has led to the surge in the demand for PVC products.
 

Improvements in industrial production and product expansion by large industry players are also fueling the market growth. Manufacturing innovations have increased the productivity and environmental sustainability of VCM production while reducing costs and emissions. The growing global population and urbanization is further driving the increasing use of PVC products in buildings, infrastructure, and consumer goods. As per UN. Org, around 55% of the global population lives in urban areas, which is predicted to rise to 68% by 2050.  The increasing adoption of VCM in the healthcare industry for products, such as medical tubes and IV bags given its safety profile and compliance with medical standards will favor the market growth.
 

Environmental concerns related to the manufacture and use of chemicals, especially carcinogens, have led to stricter regulations, increased compliance costs and limited industry expansion. Fluctuations in the price of crude oil, derived from ethylene is affecting production costs and complicating pricing strategies. Technological developments may also carry risks, forcing firms to innovate and differentiate to remain competitive, subsequently limiting the product demand to some degree.
 

Vinyl Chloride Monomer Market Trends

The demand for PVC in the construction, automotive and packaging industries is growing as it offers durability, flexibility, and cost-effectiveness. For instance, in May 2024, INEOS Inovyn launched PVC pilot plants in Belgium to advance PVC recycling technologies. Rapid advances in manufacturing are helping to improve efficiency and reduce environmental impacts, making vinyl chloride monomer more attractive. Increasing urbanization and infrastructure, especially in emerging economies, are also fueling the product demand. Increased awareness of sustainable practices has also led to innovations in PVC recycling and reusing, stimulating the market growth.
 

Vinyl Chloride Monomer Market Analysis

Based on application, the market value from the PVC segment is expected to reach USD 159.3 billion by 2032 due to its widespread applications and beneficial properties. PVC is a versatile and cost-effective material, widely used in the manufacture of pipes, fixtures, windows and flooring. With its durability, chemical resistance and ease of installation, it has grown popular in industries, such as automotive, healthcare and packaging. Innovations in PVC formulations and recycling techniques to enhance its environmental footprint are also making it an attractive choice. The continuing urbanization and infrastructure development in emerging markets will further amplify the demand for PVC products.
 

Based on end user industry, the VCM industry from the building & construction segment generated over USD 50.8 billion in 2023 and will witness 7.8% CAGR from 2024-2032. PVC is highly valued in construction due to its durability, low maintenance and low cost, making it ideal for pipes, fixtures, windows, doors, and floors. The shift towards more sustainable and energy-efficient construction solutions has stimulated the reuse of PVC as it offers excellent insulation and durability. All these factors combine to drive the product demand in PVC manufacturing, thereby increasing the market growth.
 

North America vinyl chloride monomer market industry size will record USD 23.4 billion by 2032. Advancements in shale gas extraction have provided a stable and cost-effective supply of ethylene in the region. Availability of well-established pharmaceutical companies have resulted in extensive R&D activities. Regulatory frameworks, such as the Toxic Substances Control Act (TSCA) to ensure compliance with safety and environmental regulations are building consumer confidence. Stringent building codes and regulations that promote the use of sustainable and safe building materials are fueling the growing adoption of PVC, stimulating the regional market growth.  
 

Vinyl Chloride Monomer Market Share

Leading VCM firms are focusing on expanding production capacities through investments in advanced technologies and new facilities for ensuring a reliable supply to meet the growing demand. Strategic partnerships and mergers are leading to increased market share and operational efficiency. Manufacturing innovations, such as the creation of sustainable and environmentally friendly PVCs are further helping them address regulatory concerns and consumer preferences.
 

Vinyl Chloride Monomer Market Companies

Major players operating in the vinyl chloride monomer industry include:

• ACG Chemicals AG
• Formosa Plastics Group
• Innovay
• Qatar Vinyl Company Petroquimica
• Reliance Industries
• Shin-Etsu
• Westlake Corporation
   

Vinyl Chloride Monomer Industry News

• In April 2023, AGC Inc. developed a Process Digital Twin technology for chemical plants and commenced operations at its VCM manufacturing plant in Indonesia
   
• In May 2023, Tarkett launched a non-PVC plank and tile flooring collection, highlighting its holistic approach to assisting organizations in meeting their sustainability goals.
   

The vinyl chloride monomer market report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue and volume (USD Million) (Tons) from 2024 to 2032, for the following segments:

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By Application

• PVC
• Copolymer resins
• Chlorinated solvents

By End-user

• Building & construction
• Healthcare
• Agriculture
• Electrical & electronics
• Automotive
• Others

The above information is provided on a country basis for the following:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Russia
  • Spain
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Australia
• Latin America
  • Brazil
  • Mexico
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa