Vinyl chloride monomer (VCM) is a
vital part of petrochemical industry. VCM is mainly used for producing poly
vinyl chloride (PVC) which is mostly used in the construction and piping
industry. It is also used in electrical, agricultural, and heath care sectors.
Other minor uses of VCM include manufacture of ethylene diamine for the
production of resins and manufacture of chlorinated solvents. VCM is produced
by hydro-chlorination of acetylene and the de-hydro-chlorination of ethylene
dichloride. This process is polluting the environment and is highly energy
consuming but the low cost of coal fields gives an advantage to China.
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The global VCM market is expected to
grow at a moderate rate with a single digit compounded annual growth rate
(CAGR). Asia is the largest consumer of VCM, contributing more than 50% of the
total VCM consumption, followed by North America and Europe. The high demand
for PVC is the major driving force for the VCM industry. Almost all the VCM
produced globally is used for PVC production. The United States is the largest
manufacturer of VCM owing to lower prices of feedstock and technological
development, followed by China. VCM growth in developing countries is higher
than developed countries as demand for PVC production is higher due to booming
infrastructure in these countries.
Substitution of PVC by traditional
materials is the key driving force for the VCM industry. But lack of
diversification in end-use industries and environmental and health issues will
hinder the growth of industry in the near future. Technological development can
overcome this barrier and many players in the market have already started
taking initiatives in this regard. Other challenges faced by industry are
volatility of feedstock prices and competition from other polyolefin’s
hampering the VCMs capacity addition.
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VCM market is highly consolidated as
top five companies contribute more than half of the total VCM production. Some
of the leading participants in the VCM industry include Occidental Chemical
Corporation, Dow Chemicals, and Georgia Gulf Corporation.
This research report analyzes this market
depending on its market segments, major geographies, and current market trends.
Geographies analyzed under this research report include
- North America
- Asia Pacific
- Europe
- Rest of the World
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