Vinyl Chloride Monomer Market to Reach USD 27.03 Billion by 2032: Research Study by Reports and Data

The global vinyl chloride monomer market size was USD 15.9 Billion in 2022 and is expected to reach USD 27.03 Billion in 2032, and register a revenue CAGR of 6% during the forecast period. With its distinctive qualities, including corrosion resistance, durability, and affordability, Polyvinyl Chloride (PVC) is increasingly in demand from end-use industries such as construction, automotive, and electrical and electronics, which is majorly driving the market revenue growth.

Increased building activities, particularly in developing economies, have been sparked by the expanding population, rapid urbanization, and industrialization. This demand for PVC is expected to drive revenue growth of the vinyl chloride monomer market. Likewise, the need for PVC-based materials, such as films, sheets, and profiles, which are utilized in automotive interiors and exteriors, is being fueled by rising demand for lightweight and fuel-efficient automobiles. Furthermore expected to contribute to market revenue growth is PVC's increasing use in electrical and electronic items including wires, cables, and insulation

Rising demand for medical-grade PVC materials, which are utilized in a variety of medical applications such as tubing, Bags, and containers, is another factor driving revenue growth of the vinyl chloride monomer market. Growing need for Medical Devices and the prevalence of chronic diseases have increased the demand for medical-grade PVC materials, which is expected to drive the vinyl chloride monomer market revenue growth.

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