Global Polyvinyl Chloride (PVC) capacity is poised to see considerable growth over the next five years, potentially increasing from 60.27mtpa in 2021 to 69.73mtpa in 2026, registering total growth of 16%.
GlobalData’s latest report, ‘Global Polyvinyl Chloride Industry Outlook to 2026 – Capacity and Capital Expenditure Forecasts with Details of All Active and Planned Plants’, states that around 39 planned and announced plants are slated to come online, primarily in Asia followed by North America.
Within Asia, China has six planned and announced PVC projects, with a total capacity of about 3.25mtpa by 2026. The country is expected to spend a capital expenditure (capex) of $1bn. Xinjiang Zhongtai Chemical Company Baicheng PVC Plant, with a capacity of 1.00mtpa, is expected to commence production of PVC in 2024.
North America has four planned and announced projects. Major capacity additions will be from Formosa Plastics Corporation Point Comfort PVC Plant. The capex for the plant is $0.35bn by 2026.
Formosa Plastics Group, Xinjiang Zhongtai Chemical Co Ltd and Tianjin Bohai Chemical Industry Co Ltd will be the top three companies globally in terms of planned and announced capacity additions over the upcoming years.