Liquid Waste Management Market Size Worth $117.3 Billion By 2025

The global liquid waste management market size is expected to reach USD 117.3 billion by 2025, expanding at a CAGR of 3.8%, according to a new report by Grand View Research, Inc. Increase in the number of water-borne diseases has resulted in a rise in toxicity and safety concerns across the globe, which has emerged as a key factor driving the market.

Liquid waste generated from industrial manufacturing activities contains chemical compounds and toxic materials, which are hazardous for the environment, leading to growing demand for liquid effluent management activities. Increasing manufacturing activities to meet the surging consumer demand have resulted in significant rise in wastewater production, which is expected to benefit the industry expansion.

The liquid waste management market is highly regulated by agencies such as Environmental Protection Agency (EPA) and Registration, Evaluation, Authorisation and Restriction of Chemicals (REACH). Various laws including Environmental Protection Act, 1993 specify steps to be carried out by industry players including undertaking Environmental Impact Assessment (EIA) and preparing Environmental Impact Statement (EIS).

The market is characterized by presence of a few large players that lay focus on mergers and acquisition in order to reduce the competition. However, competitive rivalry in the market is expected to be low owing to increasing technological challenges and stringent waste processing regulations, which discourages the new entrants.

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https://www.grandviewresearch.com/industry-analysis/liquid-waste-management-market

Further key findings from the report suggest:

Residential sector accounted for 42.7% market share in terms of revenue in 2018 on account of augmented water usage in residential applications leading to increasing amount of per capita wastewater generation, thereby fueling the segment growth
In terms of revenue, the commercial sector is expected to expand at a CAGR of 4.0% from 2019 to 2025 owing to increasing wastewater generation from the hospitality industry, coupled with high demand for water in the medical sector
Pharmaceutical industry is expected to register a CAGR of 4.5% in terms of revenue over the forecast period on account of increasing pharmaceutical production driven by population growth across the globe
U.S. accounted for 22.2% market share in terms of revenue in 2018 owing to presence of established industrial and commercial activities leading to a large volume of wastewater generation, along with stringent regulations imposed by EPA in the country
Major players operating in the liquid waste management market are integrated across all the stages of the process, including collection, transportation, and disposal of liquid waste, which aids in cost saving and increased profits.

Electric Vehicle Supply Equipment Market Worth $104.3 Billion By 2025

The global electric vehicle supply equipment market size is expected to reach USD 104.3 billion by 2025, registering a CAGR of 33.1% from 2019 to 2025, according to a new report by Grand View Research, Inc. The market is driven by development of charging equipment and infrastructure at various highway and destination locations such as hotels, shopping malls, and national parks. Growing demand for electric vehicle charging equipment is prompting manufacturers of charging equipment to innovate and launch new products. For instance, in 2017 Qualcomm Incorporated designed and built a wireless Dynamic Electric Vehicle Charger (DEVC) system capable of charging an electric vehicle (EV) dynamically at up to 20 kW at highway speeds (100 km/h).

Growing adoption of EVSE among logistics operators and FMCG manufacturers such as FedEx and Frito-Lay North America, Inc. is expected to drive demand over the forecast period. Frito-Lay North America, Inc. has installed charging stations at the Bronx, Albany, Rochester, Buffalo, and New Paltz. Moreover, various government agencies are providing funding to logistics companies for development of fleet charging stations. Besides this, increasing adoption of electric cars for shared electric mobility and development of autonomous electric cars is expected to drive the demand for EVSE for fleet charging.

Falling prices of lithium-ion batteries are expected to provide ample opportunities to electric vehicle manufacturers and in turn, drive the demand for EVSE. For instance, in March 2018, United Parcel Service (UPS) increased the number of electric vehicles in its fleet in London from 65 to 170 under the ‘Onsite Energy Storage Batteries’ initiative. The move is supported by a smart-grid charging technology developed under the ‘Smart Electric Urban Logistics (SEUL)’ project in partnership with Cross River Partnership and UK Power Networks. UPS envisages reducing its delivery costs and carbon emissions associated with its fleet of vehicles. These initiatives are expected to drive the demand for EVSE over the next few years.

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https://www.grandviewresearch.com/industry-analysis/electric-vehicle-supply-equipment-market

Further key findings from the report suggest:

The DC power segment is anticipated to register the fastest growth over the forecast period as a result of ongoing investments by governments in countries such as U.S., Germany, and France for the development of sustainable electric highways
The EV charging kiosk segment is expected to exhibit a high CAGR over the forecast period as a result of technological developments such as Near-Field Communication (NFC) and Radio Frequency Identification (RFID) for digital payments at EV charging stations
The super charging segment is expected grow significantly over the forecast period owing to rising emphasis of governments on setting up charging stations for e-buses
The destination charging application segment is expected to expand at a rapid pace over the coming years as a result of growing focus of automotive manufacturers for the development of electric vehicle charging stations at hotels, shopping malls, and resorts
Key players in market are AeroVironment Inc.; ABB Ltd.; ChargePoint, Inc.; ClipperCreek, Inc.; Chargemaster PLC; Eaton Corporation; Leviton Manufacturing Co., Inc.; Leviton Manufacturing Co., Inc.; Leviton Manufacturing Co., Inc.; and Siemens.

High Purity Base Metals Market Size Worth $398.04 Billion By 2027

The global high purity base metals market size is expected to reach USD 398.04 billion by 2027, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 2.6% from 2020 to 2027. Increasing efforts by companies to deliver high-performance products and solutions are anticipated to boost the demand for high purity base metals over the forecast period.

Purity levels of base metals are available in different grades, such as 99.99%. In order to achieve this level of purity, metals have to undergo several processing steps. For instance, high purity aluminum is achieved through three-layer electrolysis or combining fractional distillation and three-layer electrolysis. In the electrolysis, aluminum ions are reduced in an electrolytic cell that contains three separate liquid layers. In the distillation, aluminum is refined by taking leverage of solubility differences.

Aluminum accounted for the largest volume share in the global high purity base metal market in 2019. It is the most inexpensive base metal and it finds applications in various end-use industries, automotive being the major industry. Lightweight and low cost are the major factors driving the demand for the product. High purity aluminum is popular in the electronics segment where it finds application in television, computer, and other display materials.

Lead is another vital product segment of the market. Advancements in the technologies have enabled to achieve high levels of purity in lead. Pure lead is alloyed with other elements for various commercial applications, such as extruded products like rods, wire, traps, ribbon, and pipes. It is also used in rolled products, such as thin foils, which are further used in crucial applications, including corrosion-resistant equipment for the chemical industry, waterproof membranes, roofing, and x-ray and gamma-ray shielding.

The ongoing COVID-19 pandemic has majorly affected the production and supply of these high purity base metals, causing their prices to decline. For instance, copper, lead, and zinc prices declined by -22%, -10%, and -19%, respectively in March 2020 from the previous month, owing to the emergence of the coronavirus. The shutdown of mines and manufacturing plants is affecting the prices.

North America is anticipated to be one of the fastest-growing regional markets in the forecast period. The region is impacted by COVID-19, which has led to a negative growth rate of the market in 2020; however, the situation is expected to stabilize in the next couple of years. Infrastructural developments and increasing production of electric vehicles are expected to boost the consumption of high purity base metals over the forecast period. For instance, the construction spending in the U.S. for the first seven months of 2020 was increased by 8.1% from the same period in the previous year. This is a positive sign for the market growth in the country.

The competitive rivalry is high in the market owing to the presence of numerous established players. The market players are engaged in mergers & acquisitions and capacity expansions for gaining a competitive edge in the market. For instance, in May 2020, Aurubis AG, a leading copper recycler, completed the acquisition of Metallo, which is its second acquisition in Belgium.

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https://www.grandviewresearch.com/industry-analysis/high-purity-base-metals-market

Further key findings from the report suggest:

Asia Pacific held the largest volume share of more than 71.0% in 2019 owing to China, which is the major consumer of refined copper and lead in the world
The transportation end-use segment held the largest revenue share in 2019 on account of the rising production of electric vehicles, which will boost the demand for copper in the coming years
By product, the copper segment is expected to register the fastest growth rate of 3.1% in terms of volume from 2020 to 2027 on account of its rising demand in the construction, automotive, and electronics industries
The building and construction end-use segment is expected to witness the fastest growth in terms of revenue over the forecast period on account of rising infrastructural developments across the globe
Market growth declined in 2020 owing to sluggish demand from the end-use industries caused by the shutdown in manufacturing operations, which resulted in surplus product availability, and thus a decline in prices

Aircraft MRO Market Size Worth $104.46 Billion By 2025

The global aircraft MRO market size is expected to reach USD 104.46 billion by 2025, registering a CAGR of 4.7% during the forecast period, according to a new report by Grand View Research, Inc. The growing influx of aircraft OEMs into the MRO sector traditionally dominated by specialized maintenance providers has opened up new avenues for the market growth.

As per the International Air Transport Association (IATA), MRO activities contribute to about 15% of the total operating cost of the airlines. The OEMs as well as specialized MRO providers are making significant investments in new technologies to enhance their service quality and operational efficiency. Profitability of aviation industry hinges on the maintenance of old fleet rather than the sale of new aircraft, which has elevated the importance of the aircraft MRO market.

The service providers in the market constitute of separate department of airline operators or independent MRO providers. These service providers are transforming into full-service suppliers and their role is expected to become a one stop-shop to cater to all of the airline’s MRO needs. For instance, Lufthansa Technik have advanced technical capabilities and have succeeded in selling power-by-the-hour contracts.

In North America, independent MRO providers offer lucrative opportunities for experienced and skilled workers and attractive pay packages to address the growing demand for maintenance activities. For instance, mechanics and avionics technicians lead the laborers’ demand, followed by electrical and software engineers. In 2018, the region witnessed a steep rise in outsourcing for MRO spending.

France-based Airbus S.A.S.-one of the most prominent aircraft manufacturers-is developing its Air+ program, which offers the opportunity to MRO providers of collaborating with other players to seek the best services and to develop customized MRO solutions. The company is also keen on setting MRO service centers in Asia Pacific countries such as India within a partnership mode.

Since February 2019, AFI KLM E&M have been deploying mobile climbing robots in its line maintenance operations. The company is looking forward to integrate climbing robots with Donecle drones for aircraft inspections, used since 2016.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/aircraft-mro-market

Further key findings from the report suggest:

Aircraft and engine manufacturers such as Rolls-Royce and Boeing are putting additional focus on aircraft maintenance business and offering total care solutions
The opportunities for independent MRO providers are expected to remain buoyant as airlines are expected to continue outsourcing maintenance work for them to focus on their core business, although OEMs are gradually foraying into the MRO space considering the profitability involved
Electronic systems are swiftly replacing the mechanical systems. Increasing complexity of the electronic systems is expected to create demand for the skilled workforce for aftermarket service and repair activities

Automotive Electronic Control Unit Market Worth $84.29 Billion By 2025

The global automotive electronic control unit market size is expected to reach USD 84.29 billion by 2025, growing at a 4.4% CAGR over the forecast period, according to a study conducted by Grand View Rese0arch, Inc. The increasing demand for hybrid and luxury vehicles, rising deployment of infotainment systems, and growing preference for ADAS and automated safety systems are fueling the demand for automotive electronic control units (ECUs). Additionally, a growing number of functionalities to control several electronic components in the vehicle such as, dashboard instruments, engine, telematics, and powertrain, has also resulted in significant growth in the average number of ECUs used per vehicle.

Moreover, the governments and regulatory bodies are mandating the installation of several safety systems in a vehicle, such as adaptive cruise control, adaptive front lighting, and anti-lock braking system, among others, to increase road safety. Recently, the AUTOSAR Alliance has been formed to standardize the approach of the designing and developing of layers between ECU hardware and application software. Additionally, in April 2016, the European New Car Assessment Programme (NCAP) was launched to reduce the risk of accidents by mandating the integration of lane-departure warning and anti-lock braking systems in vehicles during their production phase. This is anticipated to make the integration of hardware and software more scalable and flexible.

Furthermore, the automotive ECU market directly depends upon the automotive production across the globe. Thus, the increasing automotive production across emerging economies would fuel the demand for automotive ECUs over the forecast period. Several government initiatives to mandate the installation of advanced safety systems in vehicles, coupled with the growing preference of consumers for luxury and hybrid vehicles are the key factors boosting the research & development spending on automotive ECUs. For instance, In October 2017, NXP Semiconductors N.V. revealed NXP S32 platform, an all-new control and compute concept for electric, autonomous and connected cars.

The Asia Pacific region dominated the market in 2018, a trend that is expected to continue over the forecast period. This is attributed to the significant investments in the automotive industry in emerging countries, such as China, South Korea, Japan, and India. Additionally, the Chinese market is estimated to reach USD 36.65 billion by 2025, growing at a CAGR of 9.5% from 2019 to 2025. Continuous technological innovations to reduce the ECU count per vehicle is also expected to create substantial opportunities in the Asia Pacific region.

The North American market is projected to expand at a considerable CAGR over the forecast period owing to several regulations and declarations made by the governments in the region to positively influence the demand for electric vehicles. For instance, the Californian government has set up a target of reaching 1.5 million zero-emission vehicles, thus boosting the regional demand.

Some of the key players operating in the market are Altera (Intel Corporation), Autoliv Inc., Continental AG, Delphi Technologies, Denso Corporation, Hyundai Mobis, NXP Semiconductors N.V., Robert Bosch GmbH, Valeo Inc., and ZF Friedrichshafen AG, among others. The global automotive ECU market is consolidated with the presence of a few players holding a majority share of the market.

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https://www.grandviewresearch.com/industry-analysis/automotive-ecu-market

Further key findings from the study suggest:

The ADAS & safety systems application segment is anticipated to dominate the automotive electronic control unit market owing to stringent government regulations and rising consumer awareness pertaining to safety features in vehicles. The segment is estimated to reach USD 27.6 billion by 2025.
The Internal Combustion Engine (ICE) vehicles segment is estimated to hold a majority share of the market owing to the increasing production of vehicles in emerging economies.
The 32-bit segment held the largest market share of 91.0% in 2018. This share is expected to decline over the forecast period due to the rising demand for 64-bit ECUs to integrate advanced electronic functions in the vehicle.
The passenger car segment held the largest market share of 86.9% in 2018. This share is estimated to increase over the forecast period owing to the growing consumer preference for luxury and hybrid vehicles with advanced electronic and safety systems.
The Asia Pacific regional market is estimated to account for 62.8% of the overall automotive ECU industry in 2018, owing to the increasing production of vehicles in emerging economies, such as China, India, South Korea, and so on.
Prominent market players include Autoliv, Inc., Delphi Technologies, Denso Corporation, Robert Bosch GmbH, ZF Friedrichshafen AG.

Dump Truck Market Size Worth $72.4 Billion By 2025

The global dump trucks market size is expected to reach USD 72.4 billion by 2025 at an 8.6% CAGR during the forecast period, according to a study conducted by Grand View Research, Inc. Growing construction and mining activities, increased government spending on sustainable infrastructure, and technological advancements propelling demand for advanced dump trucks are anticipated to drive the market. The demand for these vehicles is linked to rising population, urbanization, and infrastructure developments. Increasing construction and mining activities in Asia Pacific, especially in India, China, and Australia, will drive the market over the forecast period.

The use of coal and other minerals for industrial applications is likely to increase over the next decade, thereby complementing the growth of the mining industry, which is further expected to drive the market. Autonomous haul trucks have the potential to improve performance, reduce cost, and improve safety to overcome challenges at mining sites. Also, electric and advanced dump trucks are in great demand owing to global concerns over reduction of carbon emission from passenger and commercial vehicles. Therefore, governments of various countries have made it mandatory for automotive manufacturers to comply with emission standards to reduce their carbon footprint. This, along with numerous R&D activities for integration of advanced battery technologies, is likely to augment demand of electric dump trucks over the forecast period.

Such factors are pushing automotive OEMs and technology companies to develop vehicles that are cost-effective and aid in emission reduction. For instance, Komatsu America Corp. announced the launch of a 400-ton haul truck with an electric drive system. The product has significant features like enhanced productivity, high power performance, superior operating comfort, and improved safety. Additionally, it eliminates fuel consumption and hence contributes to reduction in carbon emission.

Asia Pacific accounted for the largest revenue share in 2018 owing to large-scale mining activities in the region. China being one of the largest producers of coal in the world, accounted for the majority share in the global dump truck market. Mining dump trucks are used to haul, transport, and deliver raw material from one site to the other. North America will register the highest CAGR owing to construction activities that make use of these vehicles for hauling of heavy materials, land moving, and carrying construction and demolition waste.

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https://www.grandviewresearch.com/industry-analysis/dump-trucks-market

Further key findings from the study suggest:

The global market is expected to develop at a CAGR of 8.6% from 2019 to 2025 and reach USD 72.4 billion by 2025. Rising construction activities due to increased investments in infrastructure will drive the market over the forecast period
Based on type, rear dump trucks dominated the market and the segment is expected to continue the trend over the forecast period, registering a CAGR of 7.9%
Asia Pacific held the largest share in the overall dump truck market and accounted for USD 28.2 billion in 2018. Increasing construction and mining activities in the region, especially in India, China, and Australia, is anticipated to drive the market through 2025
Key players include AB Volvo, Komatsu Ltd., Daimler AG, and Caterpillar. These companies accounted for the majority share in the overall market in 2018.

Vehicle Access Control Market Size Worth $17.3 Billion By 2025

The global vehicle access control market size is expected to reach USD 17,257.9 million by 2025, registering a CAGR of 10.6% from 2019 to 2025, according to a new report by Grand View Research, Inc. Growing concerns over safety and security of vehicles in developing as well as developed nations are expected to drive the demand for access control systems for vehicles over the forecast period. Vehicle access control solutions can also contribute toward efficient traffic management as they can also be used to control vehicle access across tollways, bridges, and public buildings, thereby driving the market growth.

The rising instances of car thefts all over the world are particularly necessitating the installation of vehicle access control systems. For instance, a total of 773,139 vehicles were stolen in the U.S. in 2017, which was approximately 1% higher than the previous year. Improved security features offered by the modern vehicle access control systems is particularly encouraging car owners to equip their cars with these systems.

The biometric segment is expected to witness the fastest growth owing to the ability of biometric systems to ensure a high level of security for vehicles. Biometric solutions can be based on various technologies, such as fingerprint recognition, face recognition, and iris recognition. Given that biometrics, such as fingerprints and irises, are characteristic to every individual and are unique and unrepeatable, any solution based on biometrics can provide unmatched security.

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https://www.grandviewresearch.com/industry-analysis/vehicle-access-control-market

Further key findings from the study suggest:

Implementation of innovative vehicle access control technologies, such as keyless entry, tracking, and fingerprint-enabled ignition switch, to enhance the driver’s experience is expected to drive the market growth
The tollways segment dominated the vehicle access control market in 2018 and is expected to witness healthy growth over the forecast period owing to the continued implementation of RFID systems across highways to improve the traffic management
The commercial buildings segment is expected to witness the fastest growth owing to the growing need to prevent unknown or unauthorized people from bringing their vehicles inside commercial buildings
The Asia Pacific regional market is expected to register the fastest growth over the forecast period as manufacturers in the region are trying aggressively to reduce the deployment costs so that these systems can also be featured in low- and mid-end cars
Key market players, such as Continental AG, Robert Bosch GmbH, Hella GmbH, Nuance Communication, Smartrac N.V., and Lear Corporation, are pursuing various strategies to strengthen their foothold in the market.

Rubber Tired Gantry Crane Market Size Worth $1.64 Billion By 2025

The global rubber tired gantry crane market size is expected to reach USD 1.64 billion by 2025, according to a new study by Grand View Research, Inc. Advancements in technologies, such as Active Load System (ALS), are expected to fuel the market growth over the forecast period. RTGs equipped with ALS technology help in increasing the stability of the container during transportation.

The increasing seaborne trade due to rapid industrialization has led to the development of port infrastructure across the globe. The growth in seaborne trade can be attributed to the increasing population, especially in developing regions. Moreover, flexible taxation across various regions for the import of goods has led to an increase in incoming container traffic. This stimulates the implementation of robust container handling equipment such as RTGs.

The recent advancements in technology have helped in increasing the efficiency of cranes during loading and unloading of the container from the ship. Cranes are being remotely controlled through a wireless medium established at a common control center that enhances driver safety and operational convenience.

The growth in vessel size due to an increase in global trade has stimulated the usage of RTGs in various ports for improving container handling capacity. The equipment operates with fewer performance deviations and carries out container stacking in a lower number of moves, thereby saves fuel and time of operation.

Market participants are increasingly focusing on green technology due to stringent government regulations pertaining to pollution and emission limits across various regions. Moreover, the use of RTGs equipped with electric drives can be optimized to consume less power.

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http://www.grandviewresearch.com/industry-analysis/rubber-tired-gantry-rtg-crane-market

Further key findings from the study suggest:

The 16-wheeler RTGs segment dominated the overall market in 2016 and was valued at USD 563 million. Easy maneuverability and high load carrying capacity are expected to propel the demand for these products
Electric cranes contributed remarkably toward industry growth and were valued at USD 269.1 million in 2016
Hybrid RTGs are widely adopted as they are equipped with optional diesel generator sets that are expected to prevent the downtime and keep the equipment functional
The hybrid-powered RTG segment is expected to gain traction over the forecast period and was valued at USD 92.0 million in 2016. These RTGs facilitate port terminals and crane operators in reducing fuel expenses
The demand for this equipment in the Asia Pacific region was relatively higher, owing to its operational efficiency. The region is expected to grow at a CAGR of 4.4%from 2017 to 2025
Ports in North America are expected to receive funding from regional governments for port infrastructure development. The funds will be invested in container handling equipment and terminal development for capacity expansion
The key industry participants include Anupam Industries Limited, Konecranes, SANY GROUP, TNT Crane & Rigging, Liebherr, ElectroMech Material Handling Systems (India) Pvt. Ltd., Kalmar, Mi-Jack Products, Shanghai Zhenhua Heavy Industries Co., Ltd., and Reva Industries Ltd.

Rail Mounted Gantry Crane Market Worth $399.7 Million by 2025

The global rail mounted gantry crane market size is expected to reach USD 399.7 million by 2025, according to a new study by Grand View Research, Inc. The increasing global trade, vessel sizes, and port investments are the primary factors driving the market.

The growth of marine transport has compelled ship owners to introduce large-sized vessels that are capable of transporting a large number of containers simultaneously. Such factors are also pressurizing port operators to improve their existing facilities for catering the increasing number of large-sized vessels.

The growing trade activities across Asia Pacific and Middle East & Africa (MEA) regions are anticipated to increase transshipments. The growth in transshipments is expected to propel the need of bigger vessels, so that it becomes easier to transport more number of containers between two ports at a time. Thus, driving the need of cranes that can handle large number of containers, at a much faster speed.

RMG cranes are popular as ideal choices, owing to stringent government regulations pertaining to pollution control, as they are environment-friendly and are capable of running entirely on electricity. Moreover, the incorporation of intelligent systems, such as container positioning system, non-contact anti-collision system, and remote operation, in RMG cranes has enabled port authorities to reduce operational hazards and attain operational efficiency.

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http://www.grandviewresearch.com/industry-analysis/rail-mounted-gantry-rmg-crane-market

Further key findings from the study suggest:

The 0 – 40 tons segment dominated the overall market in 2016. However, the 40.1 & above tons segment is expected to reach the highest market share by 2025 and is expected to grow at the highest CAGR of 4.6% over the forecast period.
Instances, such as increase in vessel size and expansion of Panama Canal, are expected to propel the demand for RMG cranes (with higher lift capacity)
The European market occupied a significant share in the global market and is expected to grow at a CAGR of 3.0% over the coming years
The Asia Pacific regional market is presumed to emerge as the fastest-growing market with USD 155.6 million by 2025
Chinese companies are making huge investments on port developments (local and global). In 2017, the Chinese government announced its plan to invest USD 50 billion in Brazilian port infrastructure.
The key industry participants include Anupam Industries Limited, Konecranes Plc, Doosan Heavy Industries Vietnam Co., Shanghai Zhenhua Heavy Industries Co., Ltd., Mi-Jack Products, MAC PORT-Macchine Operatrici Portuali s.r.l., SANY GROUP, Terex Corporation, TNT Crane & Rigging, and Liebherr Group

Polyvinyl Chloride Market Size Worth $79.11 Billion By 2020

The global polyvinyl chloride market size is expected to reach USD 79.11 billion by 2020, according to a new study by Grand View Research, Inc. Increasing construction and infrastructure spending in emerging markets of Asia Pacific and Latin America is expected to remain a key driving factor for global polyvinyl chloride (PVC) demand. In addition, growth of global automotive industry is also expected to have a positive influence on the market. Volatile raw material prices coupled with the stringent regulatory scenario, particularly in North America and Europe to limit or minimize PVC use for medical applications are expected to remain key challenges for market participants. In order to overcome such challenges, the industry has shifted its focus towards developing bio-based alternatives to PVC which is expected to provide future opportunities for market participants.

Construction emerged as the leading application segment and accounted for 55.7% of the total market volume in 2013. Increasing construction spending in BRICS nations on account of organization of global events such as FIFA World Cup and Summer Olympics in these nations is expected to drive the demand for PVC in construction industry. Electrical & electronics is expected to be the fastest growing application segment at an estimated CAGR of 5.4% from 2014 to 2020. Growth of Chinese and Taiwanese electronics industry is expected to spur growth for PVC in electrical & electronics industry.

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http://www.grandviewresearch.com/industry-analysis/polyvinyl-chloride-pvc-market

Further key findings from the study suggest:

Global PVC demand was 38.50 million tons in 2013 and is expected to reach 53.81 million tons by 2020, growing at a CAGR of 5.0% from 2014 to 2020.
Asia Pacific emerged as the leading regional market for PVC and accounted for 58.1% of total market volume in 2013. Growth of construction industry, particularly in China, India and Indonesia is expected to drive PVC demand in the region.
Middle East & Africa is expected to be the fastest growing region for polyvinyl chloride market at an estimated CAGR of 5.9% from 2014 to 2020. Growth of major end-use industries such as construction, automotive and electrical & electronics in Saudi Arabia and South Africa is expected to drive the demand for PVC in this region.
Some of the major companies in operating in the global PVC market include Shin-Etsu Chemical Co. Ltd., Formosa Plastics Group, Axiall Corporation, Mexichem S.A.B., BASF, Georgia Gulf Corp., Arkema S.A., and Westlake Chemica Corp, Sinopec Group, Solvay S.A., KEM One and Xinjiang Zhongtai Chemical Co. Ltd.