High-performance Plastics to reduce Vehicle Weight and Enhance Fuel Economy
The corporate average fuel economy standard has forced manufacturers in the automotive industry to develop vehicles that incorporate high-performance plastic materials. The focus on minimizing carbon emissions and enhancing fuel economy by way of reducing the weight of a vehicle has given polyvinyl chloride the impulsion as a lightweight material for manufacturing automobiles. It has been estimated that a 10% reduction in vehicle weight, results in approximately 5–7% rise in fuel savings.
However, this market faces certain drawbacks, such as volatility in raw material prices, and are hazardous in nature. These factors may act as a roadblock to the growth of the market.
Building and Construction - Fastest Growing Segment by Usage
The North American polyvinyl chloride (PVC) market in the building and construction segment is expected to grow significantly during the forecast period. PVC pipes are being used in building and construction for over 60 years as it offers valuable energy savings during production, low-cost distribution and a safe, maintenance-free lifetime of service. Another part in building and construction industry, where PVC is used is in roofing, as it has low maintenance requirements and lasts for more than 30 years. With the growth of the repair construction industry in the United States, the demand for the usage of PVC is consistently increasing, which, in turn, will promote the growth of the North American PVC market.
United States to Lead the Market
The United States is the largest market and accounted for almost 76% in the North American polyvinyl chloride market in 2017 and is expected to expand at a CAGR of 2.11% during the forecast period. After the collapse of the United States housing bubble, construction bounced back, thereby increasing the demand for PVC products. Rebounding building construction expenditures will increase the demand for plastic pipe, which is used for gas distribution, drain, waste, and vent pipe. PVC is the leading plastic resin used to make pipe in the industry, and is expected to remain the market leader in 2023. HDPE (accounting for the second largest share of plastic pipe demand) is expected to see the strongest gains in demand through 2023, thus promoting market growth.
Major Players: Shin-Etsu Chemical Limited, Formosa Plastics, Covestro, Occidental, and Ineos, among others.
Reasons to Purchase the Report
- To understand the impact of end-user applications on the market.
- Analyzing various perspectives of the market with the help of Porter’s Five Forces Analysis.
- Countries expected to witness the fastest growth during the forecast period.
- Identify the latest developments, market shares, and strategies employed by the major market players.
- 3-month analyst support along with the Market Estimate sheet (in Excel).
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1.1 Research Phases
1.2 Study Deliverables
1.3 Scope of the Report
2. Executive Summary
3. Market Insights
3.1 Industry Value Chain Analysis
3.2 Industry Attractiveness - Porter's Five Forces Analysis
3.2.1 Bargaining Power of Suppliers
3.2.2 Bargaining Power of Consumers
3.2.3 Threat of New Entrants
3.2.4 Threat of Substitute Products and Services
3.2.5 egree of Competition
4. Market Dynamics
4.1.1 High-performance Plastics to Reduce Vehicle Weight and Enhance Fuel Economy
4.1.2 Increasing Application in the Healthcare and Medical Devices Industries
4.2.1 Hazardous in Nature
4.3.1 Accelerating Usage of Electric Vehicles
4.3.2 Recycled PVC
4.3.3 Growing Repair Construction Industry
5. Market Segmentation and Analysis (Market Size, Growth, and Forecast)
5.1 By End-user Industry
5.1.1 Building & Construction
5.1.3 Electrical & Electronics
5.2 By Product Type
5.2.1 Pipes & Fittings
5.2.2 Film & Sheets
5.2.3 Wire & Cables
5.2.5 Profiles, Hose, & Tubing
5.3 By Application
5.3.1 Rigid PVC
220.127.116.11 Clear Rigid PVC
18.104.22.168 Non-Clear Rigid PVC
5.3.2 Flexible PVC
22.214.171.124 Clear Flexible PVC
126.96.36.199 Non-clear Flexible PVC
5.3.3 Low-smoke PVC
5.3.4 Chlorinated PVC
5.4 By Stabilizer Type
5.4.1 Lead-based Stabilizers (Pb Stabilizers)
5.4.2 Barium-based Stabilizers (Ba-Zn Stabilizers)
5.4.3 Calcium-based Stabilizers (Ca-Zn Stabilizers)
5.4.4 Tin-based Stabilizers (Sn Stabilizers)
6. Regional Market Analysis (Market Size, Growth, and Forecast)
6.1 United States
6.4 Rest of North America
7. Competitive Landscape
7.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
7.2 Market Share Analysis***
7.3 Strategies Adopted by Leading Players
8. Company Profiles (Overview, Financials**, Products & Services, and Recent Developments)
8.1 BASF SE
8.4 Formosa Plastics Group
8.5 Huntsman Corp.
8.6 Ineos Chlorbinyls Ltd
8.7 Kem One
8.9 Mexican S.A.B
8.10 Occidental Petroleum Corp.
8.11 Rectical SA
8.12 Shin-Etsu Chemical Co. Limited
8.13 Westlake Chemical Corporation
*List not exhaustive
**Subject to availability on public domain
- BASF SE
- Formosa Plastics Group
- Huntsman Corp.
- Ineos Chlorbinyls Ltd.
- Kem One
- Mexican S.A.B
- Occidental Petroleum Corp.
- Rectical SA
- Shin-Etsu Chemical Co. Limited
- Westlake Chemical Corporation