Vinyl Chloride Monomer Market Size, Share & Forecast 2025

 

Report Overview:

The global Vinyl Chloride Monomer Market was estimated at USD 16.1 billion in 2024, and is forecast to climb to around USD 28.0 billion by 2034, at a compound annual growth rate (CAGR) of 5.7% between 2025 and 2034. VCM a colorless, flammable gas is primarily used as the base raw material to manufacture polyvinyl chloride (PVC). PVC plays a critical role across industries including construction, packaging, healthcare, electrical, and automotive, thanks to its versatility, durability and cost efficiency .

Regionally, North America’s VCM market was valued at approximately USD 7.7 billion, reflecting strong industrial and building sector demand. The oxy‑chlorination process dominates VCM production, with a 57.4% share in 2024, prized for its efficiency and lower operating costs. The PVC application segment represents about 79.7% of total VCM usage. The building and construction end‑use sector leads demand, accounting for 44.8% of VCM consumption globally

Key Takeaways

  • Global market is expected to reach USD 28 billion by 2034, up from USD 16.1 billion in 2024, at a 5.7% CAGR.
  • Oxy‑chlorination process holds 57.4% of VCM production share in 2024.
  • PVC accounts for 79.7% of VCM application usage share in 2024.
  • Construction industry drives nearly 44.8% of total VCM demand in 2024.
  • North America market valued at USD 7.7 billion in 2024, underpinning industrial demand

Vinyl-Chloride-Monomer-Market-Size

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Key Market Segments:

By Production Process

  • Oxychlorination
  • Balanced Process
  • Direct Chlorination

By Application

  • PVC
  • Copolymer Resins
  • Chlorinated Solvents
  • Others

By End Use

  • Building and Construction
  • Healthcare
  • Agriculture
  • Electrical and electronics
  • Automotive
  • Others

DORT Analysis

Drivers
Growing PVC demand in construction, infrastructure and plumbing fuels strong VCM use. VCM‑derived PVC is favored for cost‑effectiveness, corrosion resistance and ease of installation. As construction activity rises in urbanizing markets, VCM volumes follow. Demand from automotive, packaging and healthcare sectors adds to momentum.

Opportunities
Investment in bio‑based VCM and greener production methods offers longer‑term growth. Producers focusing on eco‑friendly alternatives can tap into sustainability‑focused buyers. Expansion into emerging regions like Asia‑Pacific, led by India and China, also presents broad prospects, driven by rising infrastructure and industrialization.

Restraints
VCM is classified as a known human carcinogen, and production can emit toxic by‑products, prompting stringent regulatory scrutiny and environmental concerns. These factors may limit capacity expansion or slow approvals. Additionally, raw material price volatility and energy‑intensive production processes squeeze margins.

Trends
A shift toward efficient production technologies like oxy‑chlorination supports supply expansion while reducing costs and emissions. Recycling and reuse strategies for PVC are becoming more important, as are pilot initiatives in European facilities aimed at new PVC recycling technologies. Regional shifts show stronger growth in Asia‑Pacific versus more regulated European markets .

Market Key Players:

  • Agc Chemicals
  • BASF
  • Evonik Industries
  • Formosa Plastics Group
  • INEOS Group
  • Jubail Chevron Phillips
  • LG Chem
  • Lyondellbasell Industries
  • Mitsubishi Chemical Holdings Corporation
  • Nissan Chemical Industries, Ltd.
  • Nova Chemical
  • Occidental Chemical Corporation
  • Qatar Vinyl Company
  • ShinEtsu Chemical Co., Ltd.
  • Wacker Chemie AG
  • Westlake Corporation

Conclusion:

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