China set to fuel global demand for PVC
By European Plastics News
Posted 17 August 2012
Continuing demand from Asia – and notably China – will help to drive up global volumes for PVC by more than a third to nearly 50 million tonnes by 2020, according to a new report.
Research conducted by GBI Research said that global PVC demand will show a compound annual growth rate (CAGR) of 4.9% during the next eight years, pushing the market up to 49.5 million tonnes.
Demand for PVC has grown steadily over the years, from 22.2 million tonnes in 2000 to 32.3 million tonnes in 2011, said GBI. More than 65% of demand stems from Asia, where China is driving the majority.
The leading end-use segments in 2011 were construction (17 million tonnes) packaging (3.7 million tonnes) and electricals (2.7 million tonnes).
The automotive, agriculture, footwear and other end-use sectors accounted for the remainder.
GBI Research said energy efficiency and conservation were increasingly important and singled out European markets for their PVC sustainability.
Thanks to the Vinyl 2010 programme, Europe recycled 260,842 tonnes of PCV in 2010, well above its target of 200,000 tonnes.
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