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India Polyvinyl chloride (PVC) Market Outlook, 2027

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  • 70 Pages
  • June 2022
  • Region: India
  • Bonafide Research
  • ID: 5632249
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Polyvinyl chloride has been around longer than most plastics. It is one of the most commonly used thermoplastic polymers across the globe. PVC is a naturally white and very brittle plastic. Due to the versatility factor, PVC can be as rigid as industrial pipes, as pliable as plastic wrap, and as thin and flexible as wall-covering. It can also be completely clear or matched to any colour desired. PVC was accidently discovered twice, once in 1832 by French chemist Henri Victor Regnault and then rediscovered in 1872 by a German man named Eugene Baumann. PVC is used extensively across a wide range of technical, industrial, and everyday applications. In India, a surge in applications for PVC in the healthcare industry is the major driving force for the PVC market. In addition to that, government policies in the budget of financial year 2020 for enhancement in the facilities for piped water supply in rural areas have provided a much-needed push to the PVC industry across the country. Further, India is highly dependent on PVC imports to fulfill the imbalance between demand and production. These demands for PVC are anticipated to be in healthy digits during the forecast period, which will force more PVC to be imported.

According to the report titled 'India Polyvinyl Chloride (PVC) Market Outlook, 2027' the PVC market is projected to grow at 11.89% CAGR by 2026-27. In recent years, the strongest PVC consumption has been concentrated in India. The common drivers of consumption tend to be a large population base with a stable political climate. Economical and versatile, PVC is used in various industries such as agriculture, construction/infrastructure & housing, packaging, automotive, electrical & electronics, healthcare, and fast-moving consumer goods. Among these industries, construction, infrastructure, and housing are projected to acquire more than 35% of the market share during the forecast period. PVC makes a major contribution to the quality, safety, and cost-effectiveness of construction materials. PVC also offers low environmental impacts compared to other components. In addition to the new projects, PVC is also widely used in refurbishment, where it often replaces traditional materials such as metal and wood. Further, as PVC is durable, dependable, and light in weight, flexible PVC plays an important role in the packaging industry.

India ranks second worldwide in farm output. By adopting PVC in this sector, the Indian market is projected to achieve higher momentum by 2026-27. PVC pipes are primarily needed in agriculture for the purpose of transportation and storage of water and act as useful equipment for hydroponic systems and irrigation across the field. According to the report, the Indian PVC market is segmented into six prominent grades that include piping & fittings, flooring, films, sheets, wire & cable insulation, and window profiles. Among these grade types, the piping & fitting segment is projected to lead the market with more than 70% market share. In India, PVC pipes are majorly used in the production of water-distribution and underground irrigation pipes. On the other hand, with a well-established status all over the world, PVC windows are gaining higher momentum with more and more usage in India in major cities to begin with. This segment is projected to grow at a significant growth rate during the forecast period.

Based on the polymerization technique, the Indian PVC market is segmented into three types: suspension, bulk mass, and emulsion. In India, about 80% of PVC production involves suspension polymerization. Further, based on the distribution channel, direct/industrial sales are anticipated to lead the market during the forecast period, followed by retail and other sales channels. As Vinyl Monomer and chlorine are the major raw materials required to produce PVC, the production and availability of these two in India also plays a crucial role in determining the yearly production of PVC in the country. The Indian PVC market is anticipated to witness healthy growth after the government scheme of self-reliant India, emphasising domestic production and consumption of products.

Major market players for PVC in India include Reliance Industries, Finolex Industries Limited, Chemplast Sanmar Limited, DCW Limited, DCM Shriram Limited, Occidental Petroleum Corporation, Formosa Plastics Group, and Mistui Chemicals. No new local PVC resin production capacities are coming in the next couple of years. However, both Adani’s and Reliance’s proposed PVC plants are set to commence commercial production only in 2024. Further, the report includes pricing and raw material analysis, demand-supply ratio, major consumers and leading importers present in the India PVC market. These topics can provide deep knowledge about the PVC market in India.

Covid-19 Impact:

The COVID-19 pandemic resulted in an economic crisis across the globe. India was also heavily impacted during the outbreak. Since the rise in the demand for PVC is directly linked to the GDP, this situation has been a major challenge for the Indian economy. The major PVC-consuming industries, such as electrical, automotive, and building and construction, were severely hit by the pandemic. Due to the lockdown and social distancing scenario, production units were at a halt and the supply chain was also disrupted. However, by the end of 2020, manufacturers will have regained their progress at a higher pace. Also, a change in consumer preference and growing adoption of PVC in various new applications are projected to fuel the market's growth by 2026-27.

Major Companies present in the market:

Reliance Industries Limited, Finolex Industries Limited, Chemplast Sanmar Limited, DCW Limited, DCM Shriram Limited, Occidental Petroleum Corporation, Formosa Plastics Group, Mistui Chemicals, Hanwha Chemical Corporation, LG Chem

Considered in the report:

  • Geography: India
  • Historical year: 2016-20
  • Base year: 2021
  • Estimated Year: 2022
  • Forecast year: 2023-27

Based on types:

  • Suspension Polymerization
  • Bulk Mass Polymerization
  • Emulsion Polymerization

Based on Grade:

  • Pipes and Fittings
  • Flooring
  • Films
  • Sheets
  • Wire and Cables insulation
  • Window Profiles

Based on Industry:

  • Agriculture
  • Construction & housing
  • packaging
  • Automotive
  • Electrical and Electronics
  • Healthcare

Based on Region:

  • East
  • West
  • North
  • South

Based on Distribution channel:

  • Direct/Institutional Sales
  • Retail & other Sales

The approach of the report:

This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this the published started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once the publisher has primary data with us the published started verifying the details obtained from secondary sources.

Intended audience

This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to construction industry, agriculture industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

Table of Contents

1. Executive Summary2. Report Methodology
3. Market Structure
3.1. Market Considerate
3.2. Market Definition & Assumptions
4. India Demographics Insight5. Global Polyvinyl Chloride (PVC) Market Outlook
6. India Polyvinyl Chloride (PVC) Market Outlook
6.1. Production Scenario
6.2. Market Size By Value
6.3. Market Demand By Volume
6.4. Market Share
6.4.1. By Type
6.4.2. By Grade
6.4.3. By Industry
6.4.4. By Region
6.4.5. By Distribution channel
6.4.6. By Company
7. Trade Dynamics
7.1. Import Scenario
7.1.1. By Value
7.1.2. By Volume
7.2. Export Scenario
7.2.1. By Value
7.2.2. By Volume
8. Pricing and Raw Material Analysis9. India PVC Demand-Supply Senario10. India Economic Snapshot11. Top Five Countries with Surplus Capacity12. Major Consumers of PVC in India13. Leading Importers of PVC in India14. New Opportunity/Applications of PVC
15. Company Profiles
15.1.1. Reliance Industries
15.1.2. Finolex Industries Limited
15.1.3. Chemplast Sanmar Limited
15.1.4. DCW Limited
15.1.5. DCM Shriram Limited
15.1.6. Occidental Petroleum Corporation
15.1.7. Formosa Plastics Group
15.1.8. Mistui Chemicals
15.1.9. Hanwha Chemical Corporation
15.1.10. LG Chem
16. Strategic Recommendations17. Disclaimer
List of Figures
Figure 1: India Population 2015-2019 ( In Crore)
Figure 2: India Population Age Structure (EST. 2019)
Figure 3: India Urban VS Rural (Crore)
Figure 4: Global Polyvinyl Chloride (PVC) Market Size By Value 2016 to 2027 (In USD Billion)
Figure 5: India Production Forecast By Volume 2015-16 to 2026-27 (Thousand Tonnes)
Figure 6: India Polyvinyl Chloride (PVC) Market Size By Value 2015-16 to 2026-27 (INR Crore)
Figure 7: India Polyvinyl Chloride (PVC) Market Size By Volume 2015-16 to 2026-27 (In Million Tons)
Figure 8: India Polyvinyl Chloride (PVC) Market Share By Type (2015-16, 2020-21 & 2026-27)
Figure 9: India Polyvinyl Chloride (PVC) Market Share By Region (2015-16, 2020-21 & 2026-27)
Figure 10: India Polyvinyl Chloride (PVC) Market Share By Distribution Channel (2015-16, 2020-21 & 2026-27)
Figure 11: Import of PVC in India By Value 2014-15 to 2020-21 (INR Crore)
Figure 12: Import of PVC in India By Volume 2014-15 to 2020-21 (In Thousand)
Figure 13: Export of PVC in India By Value 2014-15 to 2020-21 (INR Crore)
Figure 14: Export of PVC in India By Value 2014-15 to 2020-21 (INR Crore)
List of Tables
Table-1: India Tier-wise Classification Of Cities
Table-2: India Region-wise Classification Of Cities
Table 3: Global Ethylene Dichloride Market By Value (2016 to 2027F) (in USD Billion)
Table 4: Global Vinyl chloride Monomer Market Size By Value (2016 to 2027F) (in USD Billion)
Table 5: India Production Capacity 2015-16 to 2021-22 in KTA (Kilo-Tonnes Per Annum)
Table 6: India Production Scenario 2015-16 to 2021-22 in KTA (Kilo-Tonnes Per Annum)
Table-7: India Polyvinyl Chloride (PVC) Market Share By Grade (2015-16, 2020-21 & 2026-27)
Table-8: India Polyvinyl Chloride (PVC)Market Share By Industry (2015-16, 2020-21 & 2026-27)
Table 9: India Polyvinyl Chloride Market Share By Company (2020)
Table-10: Detail of HS Codes Relating to PVC in India
Table 11: Import for top Countries in terms of Value (in Rs. Lacs) from 2015-16 to 2021-22
Table 12: Import for top Countries in terms of Volume (in thousands) from 2015-16 to 2021-22
Table-13: Detail of HS Codes Relating to PVC in India
Table 14: Export for top Countries in terms of Value from 2015-16 to 2021-22
Table 15: Export for top Countries in terms of Volume from 2015-16 to 2021-22
Table 16: Cost Structure for India Polyvinyl Chloride (PVC) Market
Table 17: India Polyvinyl Chloride (PVC) Demand-Supply Scenario
Table18: India Economic Profile - 2020
Table 19: Top Five Countries with Surplus Capacity
Table 20: Top Thirty Importers Of PVC in India
Table-21: Key Facts of Reliance Industries
Table-22: Key Facts of Finolex Industries Limited
Table-23: Key Facts of Chemplast Sanmar Limited
Table-24: Key Facts of DCW Limited
Table-25: Key Facts of DCM Shriram Limited
Table-26: Key Facts of Occidental Petroleum Corporation
Table-27: Key Facts of Formosa Plastics Group
Table-28: Key Facts of Mistui Chemicals
Table-29: Key Facts of Hanwha Chemical Corporation
Table-30: Key Facts of LG Chem

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Reliance Industries
  • Finolex Industries Limited
  • Chemplast Sanmar Limited
  • DCW Limited
  • DCM Shriram Limited
  • Occidental Petroleum Corporation
  • Formosa Plastics Group
  • Mistui Chemicals
  • Hanwha Chemical Corporation
  • LG Chem