PVC Additives Market to Reach 4.08 Billion USD by 2021
The report "PVC Additives Market by Type (Stabilizers, Impact Modifiers, Processing Aids, Lubricants, Plasticizers), Fabrication Process (Extrusion, Injection Molding), Application (Pipes & Fittings, Profiles & Tubing, Rigid Sheet & Panel) - Global Forecast to 2021", The global PVC additives market was valued at USD 3.05 Billion in 2016 and is projected to reach USD 4.08 Billion by 2021, at a CAGR of 6.0% from 2016 to 2021.
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PVC Additives Market
The growth of the global PVC additives market is mainly driven by the increasing demand for PVC in varied applications and the replacement of conventional iron, concrete, and steel goods with lightweight plastics such as PVC in most of the industrial sectors, such as automotive, consumer goods, and building & construction.
Based on type, the global PVC additives market has been segmented into stabilizers, impact modifiers, processing aids, lubricants,plasticizers , and others. The stabilizers segment is expected to grow at the highest CAGR from 2016 to 2021. This growth is mainly attributed to the increasing demand for stabilizers in varied applications such as pipes & fittings, rigid & semi-rigid films, window profiles, wires & cables, and consumer goods, among others. Stabilizers are increasingly preferred over other additive types, owing to their superior properties, such as resistance to UV, weathering, and heat aging.
Based on fabrication process, the extrusion segment of the global PVC additives market is expected to grow at the highest CAGR during the forecast period. Extrusion is primarily utilized to process high volumes of plastics. The pellets, granules, flakes, or powders are fed into the extrusion machine and melted under high temperatures (depending upon the type of plastic to be extruded).
Based on application, the pipes & fittings segment is anticipated to grow at the highest CAGR between 2016 and 2021. This growth is mainly attributed to the rising demand for pipes & fittings in piping and plumbing, laying of gas pipelines, and sheathing of telecommunication and electrical cables. The demand for PVC additives in the pipes & fittings segment is estimated to witness significant growth, due to the replacement of conventional concrete, iron, and steel-based pipes & fittings with PVC pipes in the building & construction industry.
The PVC additives market in the Asia-Pacific region is expected to grow at the highest CAGR between 2016 and 2021. This growth is mainly attributed to the rise in infrastructure activities in Asia-Pacific countries, such as India, Taiwan, Indonesia, and China.
The global PVC additives market is led by various market players, such as Kaneka Corporation (Japan), Arkema S.A. (France), BASF SE (Germany), Songwon Industrial Co., Ltd. (South Korea), Akzo Nobel N.V. (Netherlands), Adeka Corporation (Japan), and Clariant AG (Switzerland), among others.
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