Global demand for polyvinyl chloride (PVC) has been steadily growing over the last decade, according to a new report from market analysis firm GBI Research.
According to the report entitled, Polyvinyl Chloride (PVC) Global Market to 2020 – Growth From Asia-Pacific Construction, Packaging and Electrical Sectors Continues to Drive Demand, increased demand for energy efficiency will drive demand.
The findings have revealed that demand for PVC is growing fastest in Asia, region accounting for more than 65% of global PVC demand, according to Packaging News.
China is the major consumer, followed by India, while Japan’s demand has largely stabilized.
Therefore, the demand from Asia-Pacific will decide the PVC market in the future.
Global PVC demand in 2000 was 22.181m tons, which rose to 32.3m tons in 2011.
Global demand is expected to grow at an annual rate of 4.9% per year between 2011 and 2020, to reach 49.5m tons in 2020.