Vinyl Chloride Monomer Market Size, Share, Industry, Forecast and outlook (2024-2031)

Global Vinyl Chloride Monomer Market is segmented By Raw Material (Ethylene, Acetylene, Chlorine, Oxygen, Others), By Application (Floppy Disks, Housings, Keyboards, Flexible Food Wrap, Personal Care Products, Floor Mats, Dashboards and Arm Rests, Kidney Dialysis and Blood Transfusions, Others), By End-User (Building and Construction, Packaging, Electronics, Automotive, Medical Devices, Industrial, Others), By Region (North America, Europe, South America, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031

Vinyl Chloride Monomer Market Overview

The report on global vinyl chloride monomer market size, shares, recent trends, competitive intelligence, future market outlook. Vinyl chloride monomer usage in manufacture polyvinyl chloride (PVC) is on the rise. Demand from packaging, electronics in ‘Europe’ is spiking. Competitive rivalry intensifies with INEOS, Occidental Petroleum Corporation and others active in the market.

Vinyl chloride monomer is a colorless, flammable gas at room temperature primarily used to manufacture polyvinyl chloride (PVC), non-flammable, very stable, durable plastic lightweight. Moreover, at concentrations of about 3.6% VCM in the air, VCM can be an explosion hazard. Direct contact with open flames or a high-energy heat source will result in combustion and corrosive, noxious gases. If combustion occurs, foam, and extinguish fires using dry chemicals or Co2. In addition, VCM will polymerize if exposed to air, elevated temperatures, or other activating substances. VCM can be stored in vessels that are made of ordinary construction materials. Also, VCM is stable with common metals other than aluminum & aluminum alloys and copper & copper alloys (including brass). When moisture is present, VCM can corrode steel and iron. Avoid VCM contact with moisture, strong alkalis, pure oxygen, alkali metals, open flames and welding arcs, and other high-temperature sources, which induce thermal decomposition to be irritating and corrosive hydrochloric acid.

Vinyl Chloride Monomer Market Summary

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Vinyl Chloride Monomer Market Dynamics

High demand and an increase in accommodation development are major factors expected to boost the market in the forecast period. In addition, the instant growth of urbanization and the high demand for housing are expected to drive market growth. Moreover, the increase in reconstruction and construction activities of residential, industrial, and commercial buildings increases the demand for PVC, which is expected to boost the global market growth during the forecast period. Government policies and economic development in developing countries result in rising architectural, industrial, and construction activities, and it is another factor that is expected to boost market growth during the forecast period. According to analysis, with total annual revenues of almost USD 9.5 trillion and added value of USD 3.5 trillion, the construction industry accounts for about 5.8% of global GDP. More specifically, it accounts for about 4.9% of the total GDP in developed countries, while in developing countries, it tends to account for more than 7.8% of GDP. The industry is expected to grow significantly during the forecast period, with predicted revenues of USD 15 trillion by 2025. More than 99.8 million people are already employed today in construction worldwide.

However, a high price compared to conventional paints is a crucial factor expected to hamper the global VCM market growth. Furthermore, the VCM causes various types of effects such as:

Inhalation

Hours of exposure to high but attainable concentrations (over 1000 ppm) may affect central nervous system depression with effects such as drowsiness, dizziness, disorientation, numbness, tingling or burning sensation of the hands and feet, nausea, impaired vision, cardiac arrhythmias, headache, difficulty breathing, unconsciousness or even death.

Chronic effects

VCM is a known human carcinogen due to overexposure, has produced specific cancer, and is associated with cholangiocellular and hepatocellular cancer. Occupational exposure has also resulted in skin and bone changes, especially in the extremities such as the fingers. In addition, repeated exposure may result in dose-related sensory disorders, blood system damage, nervous system effects, lymphatic system changes, pulmonary insufficiency, liver malfunction, and dermatitis.

Environmental Effects

If VCM is released into the soil, it is expected to have high mobility. Volatilization from moist soil surfaces is expected to be a necessary outcome process based on its vapor pressure. Moreover, if VCM is released into water, it is not expected to adsorb to suspended sediments and solids in the water. The biodegradation half-life of vinyl chloride in anaerobic and aerobic waters was reported as 110 and 28 days, respectively. In addition, VCM is practically non-toxic to fish on an acute basis. If released into the air, VCM will exist solely as a gas in the ambient atmosphere. It will be degraded in the atmosphere by reaction with photochemically-produced hydroxyl radicals; the half-life for this air reaction is estimated to be 54 hours.

Vinyl Chloride Monomer Market Segmentation Analysis

By raw material, the market is segmented into ethylene, acetylene, chlorine, oxygen, and others. By application, the market is segmented into floppy disks, housings, keyboards, flexible food wrap, personal care products, floor mats, dashboards & armrests, kidney dialysis & blood transfusions, and others. By end-user, the market is segmented into packaging, electronics, automotive, medical devices, industrial, building & construction, and others.

The different types of PVC packaging materials such as foil, bottles, cling film, and cap sealing is used in the various food packaging industry. Moreover, more than half of the total vinyl chloride (VC) consumption is for commercial, residential, and non-residential construction products. In addition, growing urbanization and growing construction spending by the governments in emerging economies to improve rail networks, residential areas, roads, water supply, etc., will have a positive impact on the global vinyl chloride monomer market size during the forecast period.

Global Vinyl Chloride Monomer Market Geographical Share

APAC holds a significant global vinyl chloride monomer market share due to increased industrialization and construction activities. China and India are major countries that are the major market growth contributor in this region. Moreover, the increasing demand of the end-user industry and the emerging economy is expected to increase the market size for VCM. In addition, the growing consumption of VCM in PVC due to increasing demand for building and construction, and packaging is expected to drive the market growth during the forecast period. The APAC packaging market's revenue was USD 68 billion in 2016 and is expected to reach USD 111 billion by 2021, growing at a CAGR of 8.4%. China and India are the significant drivers of the packaging market in this region.

Europe is expected to contribute significant market growth during the forecast period due to stringent policies to promote sustainable construction techniques, which will help reduce greenhouse gas emissions and improve energy efficiency as CESBA is a joint initiative towards promoting harmonization of sustainable building assessments for public buildings throughout Europe. This transnational harmonization is an essential building block to meet the EU target for all new buildings to be nearly zero-energy by 2020.

Vinyl Chloride Monomer Market Companies and Competitive Landscape

The vinyl chloride monomer market is fragmented with the presence of regional and global players. The competitive contour lies with the increase in the regional company and growing investment in upstream applications. INEOS, Occidental Petroleum Corporation, AGC Chemicals, Vynova Group, BASF SE, Dow Chemical, Westlake Chemical, LG Chem, Reliance Industries, and Tokuyama are the major player in the monomer market. The major players adopt several growth strategies such as product launches, acquisitions, and collaborations, contributing to growing the vinyl chloride monomer market globally.

INEOS

Vinyl chloride monomer (VCM) is the primary raw material used in the manufacture of polyvinyl chloride (PVC) resins and is produced by ethylene and chlorine, which produces EDC that is then transformed into VCM by thermal cracking. Moreover, the polymerization of VCM then forms PVC resin. PVC is made into two main product types, each subdivided into a range of grades to meet specific applications' requirements. PVC is manufactured according to two types of polymerization techniques: suspension PVC and emulsion PVC.

Furthermore, general-purpose PVC includes resins produced for general applications through suspension technology and represents the most significant proportion of worldwide volumes produced. Specialty PVC comprises resins produced via emulsion polymerization (including micro-suspension, mini-emulsion, seeded emulsion, latex, and nano-emulsion). PVC is used in various building and construction applications, health care, automobile, electronics, and other sectors, in products ranging from siding and piping, blood bags, and tubing to cable and wire insulation, windshield system components, and more.