New Research Says Europe Leads PVC Recycling CampaignAugust 17th, 2012 | Category: Industry News
Global demand for Polyvinyl Chloride (PVC) has seen a steady increase over the last decade, and energy efficiency drives promise to push demand even higher, states a new report by market analysis experts GBI Research.
The new report, Polyvinyl Chloride Global Market to 2020 – Growth From Asia-Pacific Construction, Packaging and Electrical Sectors Continues to Drive Demand, studies the synthetic resin, which is widely used in the construction industry due to its durability, strength and the cost advantage that it provides.
The report notes that energy efficiency and conservation are becoming increasingly important globally, and the major PVC region of Europe has been concerned with PVC sustainability for some time. The Vinyl 2010 program was launched in the European Union, primarily aiming to secure voluntary commitment to the enhancement of sustainable production and use of PVC. This program proved a major success, and during 2010, around 260,842 tons of post-consumer PVC waste was recycled, exceeding the 10-year target of 200,000 tons, according to the report. Based on this achievement, the EU has now launched a Vinyl Plus program, which is expected to further the cause of PVC sustainability in the region.
According to the new study, the demand for PVC is highest in Asia, from where more than 65 percent of global PVC demand stems, with China driving the majority of the demand. Demand in developed countries such Japan has largely stabilized, but the growing economies and large populations of developing countries such as India and China, means that they have huge consumption potential. Because of this, demand from Asia-Pacific is expected to drive the PVC market in the future.
Global PVC demand stood at 22,181,797 tons in 2000, before increasing to 32,308,053 tons in 2011, according to the report, adding that global demand is expected to grow at a CAGR of 4.9 percent between 2011 and 2020, to reach 49,534,145 tons in 2020.
The construction, packaging and electrical sectors were the leading end-use segments for PVC in 2011, with 17,973,299 tons, 3,660,405 tons and 2,721,256 tons of demand respectively, accounting for around 75 percent of global PVC demand altogether, the study reports.