Crosslinked PVC Market

Crosslinked PVC Market Outlook (2023 to 2033)

This elaborate Fact.MR survey places the global crosslinked PVC market value at US$ 1.36 billion in 2023. Expanding at a noteworthy CAGR of 6.1% over the next ten years, worldwide crosslinked PVC sales are forecasted to reach US$ 2.46 billion by the end of 2033.

Crosslinking of polymers is a chemical process that alters their physical properties using crosslinking agents or reagents. Crosslinked PVC (polyvinyl chloride) is also formed through this process. The process of crosslinking has been shown to improve the mechanical and physical properties of polymers making them more attractive for different applications across several industry verticals.

Increasing urbanization and industrialization are primary factors that are projected to drive the demand for crosslinked PVC across the forecast period. Expanding automotive manufacturing industry, growing demand for electronics, the launch of new construction projects, and a high focus on sustainability are other factors that are also forecasted to create an opportunistic scenario for crosslinked polyvinyl chloride suppliers going forward.

On the flip side, a ban on the use of plasticized PVC products, volatility in raw material pricing, and implementation of stringent mandates to control pollution from generated manufacturing establishments are estimated to be major challenges that crosslinked PVC producers will have to overcome over the next ten years and beyond.

Report Attributes	Details
Crosslinked PVC Market Size (2023)	US$ 1.36 Billion
Projected Market Value (2033F)	US$ 2.46 Billion
Global Market Growth Rate (2023 to 2033)	6.1% CAGR
South Korea Market Value (2033F)	US$ 66.65 Million
Japan Market Growth Rate (2023 to 2033)	3.1% CAGR
United States Market Value (2023)	US$ 394.6 Million
Historical Global Market Growth Rate (2018 to 2022)	2% CAGR
Key Companies Profiled	Kaneka Corporation Sicomin Epoxy Systems SAE International Westlake Chemical Corporation Ineos Shin-etsu Chemicals Limited

Which Factors Could Influentially Augment Crosslinked PVC Sales?

“Surging Automotive Production and Growing Infrastructure Development”

Growing urbanization and industrialization in emerging economies have led to a substantial hike in demand for infrastructure development. Preference for PVC products such as pipes, fittings, and flooring is rising rapidly in the construction industry and this coupled with the frequent launch of new construction projects is slated to bolster crosslinked polyvinyl chloride shipments across the forecast period and beyond.

A surging focus on sustainability is also estimated to favor the use of crosslinked PVC owing to its recyclability as compared to other materials used in different industry verticals. The high flame retardance and heat resistance of crosslinked PVC makes it an ideal choice for manufacturing electrical wires and cables for high and medium-voltage applications.

Manufacturers are focusing on swapping out traditional materials with new materials such as crosslinked PVC as they try to achieve their sustainability goals and attain zero carbon footprint. The rising number of people moving into the upper middle class has led to increased demand for vehicles around the world and this is promoting the automotive manufacturing sector.

A more comprehensive assessment of factors such as local supply, pricing trends, product standards, safety regulations, and new developments has been discussed extensively in this crosslinked PVC industry study by skilled analysts at Fact.MR, a market research and competitive intelligence provider.

Country-wise Insights

Why Asian Countries are Key Markets for Crosslinked PVC Companies?

“Supportive Government Initiatives Bolstering Manufacturing Industry Creating Opportune Scenario in the Region”

Industrialization is a crucial aspect of economic growth and to promote it governments of emerging economies in the Asia Pacific region have been launching incentives and initiatives to attract new investments. The availability of cheap labor and raw materials makes countries such as China, India, South Korea, and Japan safe havens for crosslinked polyvinyl chloride manufacturers.

• In December 2022, Indian Oil Corporation Ltd., a multinational oil & gas company owned and operated by the Ministry of Petroleum and Natural Gas of India, announced that it was investing more than US$ 400 billion in building a PVC manufacturing facility in Gujrat, India.
• Crosslinked PVC demand in Japan is slated to amass a valuation of US$ 81.45 million by the end of 2033.

Increasing electronics manufacturing, growing investments in infrastructure development, and rapid urbanization are other prospects that favor crosslinked PVC sales in the APAC region. The presence of a robust manufacturing sector and the high use of PVC in different industry verticals make China a highly attractive place for crosslinked PVC vendors over the coming years.

• From 2023 to 2033, sales of crosslinked PVC in China are forecasted to increase at a healthy 6.8% CAGR.

Why is the United States an Opportune Space for Crosslinked PVC Suppliers?

“Rising Residential Construction Activity – Prime Driver for United States Market”

The market for residential real estate in the United States has become a hot topic in recent years, which has led to a substantial increase in the number of homes being constructed in the country. Growing demand for crosslinked PVC products in residential construction is estimated to single-handedly bolster shipments of crosslinked polyvinyl chloride over the next ten years.

• Crosslinked PVC demand in the United States is extrapolated to rise at 6.6% CAGR from 2023 to 2033 and amass a revenue of US$ 745.56 million by the end of the forecast period.

Contrastingly, the recent hike in interest rates by the Federal Reserve in the United States has had a dampening effect on residential construction activity. The aforementioned factor is projected to create ambiguity for crosslinked PVC suppliers in the United States for some time in the future but the market is expected to bounce back if all goes well for the country’s economy.

Which European Countries are Investment-worthy Markets?

“Germany, United Kingdom – Potential Moneymaking Spaces”

High focus on sustainability and the presence of key automotive companies in Germany makes it a highly opportune marketplace for crosslinked PVC suppliers. The country is home to automotive giants such as BMW, Audi, Mercedes, Volkswagen, etc. and most of these companies are shifting towards using lightweight materials such as PVC and other polymers to improve efficiency and comply with modern safety standards.

Rising sales of luxury vehicles owing to the increasing number of high net-worth individuals in countries such as the United Kingdom and Germany are also projected to favor crosslinked PVC shipments over the next ten years. High adoption of electric vehicles by consumers in European countries is also predicted to create new opportunities for crosslinked PVC manufacturers in the future.

• By the end of 2033, sales of crosslinked PVC in the United Kingdom are projected to reach US$ 182.68 million.

Category-wise Insights

Where is Crosslinked PVC Demand Projected to Soar in the Future?

“Automotive Industry to Lead Global Revenue Generation”

The global crosslinked polyvinyl chloride market, based on end-use industry, is segmented into building & construction, automotive, packaging, electricals & electronics, and others.

Sales of vehicles have been increasing rapidly over the past few years and as disposable income of people around the world increases, it is projected to further bolster demand for crosslinked PVC. The growing need for lightweight automotive components to improve efficiency and comply with stringent safety mandates implemented by regulatory authorities and governments is also anticipated to uplift the demand for crosslinked PVC in the long run.

The growing use of PVC components in vehicles is a prime prospect that is projected to favor growth in this segment throughout the forecast period. The surging popularity and adoption of electric vehicles (EVs) are also anticipated to bolster shipments of crosslinked PVC through 2033.

• Usage of crosslinked PVC in the automotive industry is projected to increase at a healthy 6.5% CAGR over the next ten years.

Preference for Which Type of Crosslinked PVC is Higher?

“Use of Flexible Crosslinked PVC to Remain High”

The global crosslinked PVC market, based on type, is segmented into rigid crosslinked PVC and flexible crosslinked PVC.

Flexible crosslinked PVC products are preferred by the majority of industries owing to their several advantages over their rigid counterparts. High strength, high abrasion, and better outdoor weathering characteristics are some key benefits that are driving the preference for flexible crosslinked PVC over rigid crosslinked PVC.

• From 2023 to 2033, sales of flexible crosslinked PVC are anticipated to rise at 5.8% CAGR.

Analyst’s Opinion

Crosslinked PVC manufacturers should invest in research and development of products that are compliant with the new sustainability norms being implemented. Companies should also be focusing on increasing their manufacturing capacity to meet the increasing demand from industry verticals such as automotive, construction, etc.

Crosslinked polyvinyl chloride suppliers looking to improve their business scope in emerging economies should focus on taking advantage of supportive government initiatives and incentives. However, the rising inflation and deteriorating economic conditions of many countries pose a significant threat to crosslinked PVC manufacturers as this business requires heavy capital, and risking it in these times may or may not be worth it.

Competitive Landscape

Leading crosslinked PVC manufacturers are focusing on expanding their business scope by developing new PVC products designed for specific applications.

• In October 2021, OKI Electric Cable, a subsidiary of OKI Group, announced the launch of a new ORP-30F Cable and OFV-30F Cable. The OFV-30F incorporates cross-linked PVC (polyvinyl chloride) to provide impeccable heat resistance.

Key Segments of Crosslinked PVC Industry Research

• By Type :

  • Rigid Crosslinked PVC
  • Flexible Crosslinked PVC

• By Moulding Process :

  • Calender Moulding
  • Injection Moulding
  • Extrusion Moulding

• By End-use Industry :

  • Building & Construction
  • Automotive
  • Packaging
  • Electricals & Electronics
  • Others

• By Region :

  • North America
  • Latin America
  • Europe
  • APAC
  • MEA