Oct 17, 2017 SOURCE: BusinessWire

High Demand from Construction Industry to Boost the VCM Market | Technavio

Technavio market research analysts forecast the global vinyl chloride monomer (VCM) market to grow at a CAGR of close to 6% during the forecast period, according to their latest report.

This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171017006047/en/

Technavio has published a new report on the global vinyl chloride monomer market from 2017-2021. (Graphic: Business Wire)

The market study covers the present scenario and growth prospects of the global VCM market for 2017-2021. The report also lists PVC and others as the two major application segments, of which the PVC segment accounted for 96% of the market share in 2016.

According to Ajay Adikhari, a lead analyst at Technavio for plastics, polymers, and elastomers research, “The global VCM market is expected to grow at a steady pace during the forecast period owing to the moderate expansion of end-user segments. It is one of the world’s largest commodity chemicals. Its increasing use in the production of PVC for the fast-paced construction and infrastructure industry in APAC will further propel the growth of the market.”

This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing

Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.

Technavio analysts highlight the following three market drivers that are contributing to the growth of the global VCM market:

Increased demand from construction industry
Rise in demand from healthcare industry
High demand for PVC in APAC

Looking for more information on this market? Request a free sample report

Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.

Increased demand from construction industry

VCM is mainly used in the production of PVC, which is mostly used in the construction industry. The global construction market is expected to grow at a rapid rate during the forecast period, which augurs well for the growth of the market.

The increase in population in countries of the Middle East and Africa such as Qatar, the UAE, and Saudi Arabia will lead to huge growth in infrastructural developments. APAC is anticipated to lead the construction market with large scale infrastructural development underway in China and India.

Rise in demand from healthcare industry

The healthcare industry in developing countries is undergoing rapid change. With the rise in population in these countries, the demand for medical devices has increased. VCM is widely used in the production of PVC, which is used as a thermoplastic material in medical devices. It is widely used in blood bags. These collection bags are unbreakable and flexible and serve as the foundation for new and advanced blood banks.

Owing to its low cost, PVC is widely used for various medical purposes in recent years. It helps to meet the rising price of medical products and packaging. With the expansion of the healthcare industry, the global VCM market is also developing at a steady rate.

High demand for PVC in APAC

APAC accounted for 51% of the market share in the global PVC market in 2016. The vigorous demand for PVC in APAC is expected to be the main driving factor for the growth of the global VCM market. China is anticipated to lead the demand for PVC in terms of sales and consumption of PVC.

“The rising demand for PVC in the electrical and electronics sector, especially from China and Taiwan is expected to support the growth of VCM market during the forecast period. The main reason behind the development of the PVC market in the country is the high growth in the automobile and medical device industries,” says Ajay.

Browse Related Reports:

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at media@technavio.com.