Global PVC resin supply and demand growth slows down

September 21, 2023

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According to data statistics, as of 2022, the total global production capacity of Pvc Resin reached 59.3 million tons per year, with a production capacity of approximately 45.57 million tons. The global consumption of PVC powder is approximately 44.52 million tons, and the average load of PVC Resin plants is 76.85%. Due to unstable factors such as costs and demand caused by the epidemic, the operating rate of the equipment has decreased compared to the previous year.

From the perspective of regional distribution, global PVC powder production is mainly concentrated in Northeast Asia, North America, and Europe. In 2022, the production capacity of the three major regions was 33.12 million tons/year, 9.59 million tons/year, and 7.11 million tons/year, respectively, accounting for 55.85%, 16.17%, and 11.99% of the global total production capacity.

From the perspective of demand distribution, Northeast Asia, North America, and Europe are the main regions for global PVC Resin consumption. In 2022, the PVC powder consumption in these three regions was 22.98 million tons, 4.1 million tons, and 4.8 million tons, respectively, accounting for 51.62%, 9.21%, and 10.78% of the global total consumption. China is the world's largest consumer of PVC resin, accounting for approximately 44.19% of the world's total consumption.

From the perspective of production capacity concentration, the global PVC resin production capacity concentration is relatively high, with the top ten PVC resin manufacturers accounting for 33.24% of the world's total production capacity. Among them, Xinyue is the world's largest PVC powder manufacturer, with China's Xinjiang Zhongtai, Xinjiang Tianye, and Shaanxi Beiyuan joining the list of large PVC manufacturers worldwide.

From the perspective of application fields, the global consumption of PVC resin in 2022 was 44.52 million tons, with a consumption structure mainly consisting of pipes, film packaging, and profiles. Pipes accounted for 45%, film packaging accounted for 18%, profiles accounted for 17%, wires and cables accounted for 8%, floor leather accounted for 3%, and other fields accounted for 9%.

In the future, building materials such as pipe profiles and flooring will drive the growth of PVC resin demand. It is expected that by 2025 and 2030, the global demand for PVC resin will reach 48 million tons and 52 million tons, respectively.

It is expected that the global production and demand of PVC resin powder will increase synchronously in the future, and the overall supply and demand will be basically balanced. The new production capacity of PVC resin powder will mainly come from Northeast Asia, the United States, and the Indian subcontinent, while demand will be mainly driven by Asia and emerging economies. It is expected that the global production capacity of PVC resin powder will reach 64 million tons/year and 66 million tons/year respectively by 2025 and 2030.

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