Market Research Suggests Consumption of PVC Set To Grow Rapidly

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21st August 2012 13:56 - Chemicals

A new report by GBI Research suggests that global demand for Polyvinyl Chloride (PVC) is expected to reach almost 50 million tons by 2020, showing a compound annual growth rate of 4.9% between 2011 and the end of this decade. PVC is used for a wide range of applications, including pipes, packaging, electrical insulation and in the automotive and construction sectors.

This rising demand is driven by Asia, which accounts for over 65% of global demand for PVC. Whilst demand in developed countries such as Japan has stabilised somewhat, emerging economies such as China and India are creating a large amount of the new requirement for PVC through the huge consumption potential of their large populations. Due to this Asia-centric demand, the industry is seeing it as increasingly important to engage the region in energy efficiency and conservation efforts such as the Vinyl 2010 program.

This program has proved a major success in the European Union, recycling around 261,000 tons of post-consumer waste in 2010 and exceeding the ten year target of 200,000 tons. The EU has since launched a Vinyl Plus program, to further assist sustainability in the region.

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