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The global Vinyl Chloride Monomer Market is forecasted to reach USD 19.43 Billion by 2027, according to a new report by Reports and Data. The primary application of polyvinyl chloride monomer is to manufacture plastics. Vinyl chloride monomer is used to make polyvinyl chloride (PVC). PVC is used to make a wide variety of products, including plastics, pipes, hoses, and fittings for outdoor irrigation, furniture, packaging materials, wire and cable coatings, and automobile upholstery, credit or ATM cards, flooring, windows, housewares, wall coverings, plastic containers, outdoor furniture, wrapping film, automotive parts, and many others. In the past, the vinyl chloride monomer has also been used as a refrigerant. Pa66 Nylon Insulation Strip
Prolonged exposure to the market product can affect the central and peripheral nervous system and also cause liver damage. It can also lead to joint and muscle pain and scleroderma-like skin changes, which is also a symptom of Raynaud’s phenomenon. This may hamper the growth of the market.
The Asia Pacific leads the market for vinyl chloride monomer. China is the major contributor to the growth of the market in the region. The high demand is mainly due to the easy availability of raw materials and increasing urbanization. Expansion in the construction industry in the region is also augmenting market demand.
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Key players operating in the market:
AGC Chemicals, Petroquimica Innovay, Ineos Styrolution, Occidental Chemical Corporation, DowDupont, LG Chem, BASF SE, Lyondellbasell Industries, Reliance Industries, and, Qatar Vinyl Company, among others.
Further key findings from the report suggest:
Advancement in medical technologies and improvement in medical devices are propelling the demand for the market. Vinyl chloride monomer is used in the production of blood and intravenous bags, blood transfusion, kidney dialysis, artificial heart valves, and cardiac catheters.
Polyvinyl chloride has the advantage of being used in fabrication processes and conversion with great flexibility, in such a way that end products cover a wide range, including profiles and tubes, pipe and fittings, siding, wire and cable, floorings, windows, doors, film bottles, and sheet. PVC held approximately more than 80% of the market share.
Vinyl chloride monomer market is generally produced by hydrochlorination of acetylene and dehydrochlorination of ethylene dichloride. Reaction of anhydrous hydrogen chloridegas with acetylene over a mercuric chloride catalyst give vinyl chloride. This reaction is exothermic. The product yields and purity are usually very high. This industrial process of production was common before ethylene became widely distributed. China still uses this method to manufacture vinyl chloride due to the large reserves of coal from which acetylene is produced.
North America holds a significant share in the market owing to the low production cost in chlorine and ethylene raw materials. The shift towards the low feedstock cost and natural gas for the production of vinyl chloride in the U.S. and Canada, from shale gas, is propelling the demand for the market in the region. The region is forecasted to grow with a CAGR of 6.0% during the forecast period.
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Over the recent past, chemical and materials industry has observed rapid digital transformation, innovations and advancements in chemical processing, globalization, sustainability, and development of robust supply chain. Increasing incidence of uncertainties in chemical production and development have further increased focus on risk management solutions. Chemical and materials industry supplies raw materials to a number of end-use industries such as petrochemicals, solvents, manufacturing and construction, and healthcare, among others. Increasing integration of advanced technology in the manufacturing and production processes along with a growing focus on producing environmentally sustainable chemicals and materials is further expected to revolutionize the Vinyl Chloride Monomer market over the forecast period.
The report further offers key insights into strategic alliances and ventures undertaken by key companies in the market to cater to the growing global demand, capitalize on lucrative opportunities, and gain a robust footing in the market. It focuses on mergers and acquisitions, joint ventures, collaborations, product launches, brand promotions, and deals.
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Major Regions covered in the report:
North America (U.S.A., Canada, Mexico)
Europe (U.K., Italy, Germany, France, Rest of Europe)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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The post Vinyl Chloride Monomer Market Statistics, Size Analysis To Reach USD 19.43 Billion By 2027 appeared first on Market O Graphics.
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