China driving growth of PVC
Global demand for PVC has grown from 22 million tonnes in 2000 to 32 million tonnes in 2011, according to a new report from GBI Research, with more than 65% of the demand coming from Asia and China.
The higher demand was accounted by various industries such as electrical, packaging and construction, followed by the automotive, agriculture, footwear and other end-use industries. The firm also says a 4.9% of CAGR is expected over the next 7 years, with the market to produce up to 49.5 million tonnes by 2020.
And with PVC getting a bad light in the industry, GBI says sustainability is driving the market in Europe, where thanks to the Vinyl 2010 programme, Europe recycled 260,842 tonnes of PCV in 2010, which is higher than target of 200,000 tonnes.