Analysis of the Global PVC Industry Regional Market in 2023

June 27, 2023

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Core data of this article: global PVC production capacity, global PVC production, and global PVC demand

China is a major global supplier of PVC

From the perspective of the chlor alkali industry, according to Fortune Business Insight, the market size in the Asia Pacific region currently accounts for 59% of the global market size; Next is North America, accounting for 18%. Following closely behind is Europe, accounting for 16%.

From the perspective of the PVC industry, due to the high production costs of PVC in Europe and Japan, the global PVC production capacity is mainly concentrated in Northeast Asia, with China having about half of the global PVC production capacity. China, the United States, and Japan are important PVC production regions worldwide, with production capacity accounting for about 40%, 10%, and 5%, respectively.

In terms of export scale, Japan and South Korea have always been the main sources of PVC imports from India. But in the past two years, China has gradually become a new major source of import for India. In 2022, China's PVC exports to India reached 600000 tons, and China's PVC exports to other regions have also surged. Mainly due to the sharp decrease in PVC production in the European region. Since the outbreak, the export volume of Pvc Resin in China has increased by about 400%

New production capacity of 9 million tons in the next 5 years, mainly in China and India

Harry Thomas, inorganic director of S&P Global Commodity Insight, said that the strong prospect of the global vinyl market has triggered a new investment boom. It is expected that at least 9 million tons of PVC capacity will be added in 2023-2027, and most of the new capacity will be concentrated in China and India, the two demand growth centers. Adani Group of India will put 1 million tons/year PVC production capacity into production in 2025 and another 500000 tons/year in 2027; Xincheng Industry will invest 1.5 million tons/year of PVC production capacity in 2026.

China is a major global demand country for PVC

Harry Thomas, inorganic director of S&P Global Commodity Insight, said that the growth rate of China's PVC demand is expected to slow from about 4% to 3% annually, but China's PVC demand accounts for about 44% of the global total demand. The size of the Indian market is still relatively small, with PVC demand slightly exceeding 4 million tons in 2022. However, it is expected that the demand growth rate will soar from an average annual growth rate of 4% in 2017-2022 to 6% or even higher in 2023-2027.

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