According to Custom Market Insights (CMI), The Global Southeast Asia Recycled Polyvinyl Chloride Market Size was valued at USD 386.88 million in 2021 and is estimated to reach USD 563.15 million by the end of 2030 at a CAGR of approximately 5.53% during the forecast period 2022-2030.
Recycled polyvinyl chloride is the most often used plastic outside of Southeast Asia. The recycling process entails the recycling of feedstocks and mechanical waste. The main obstacles for market participants are anticipated to be higher cost-effectiveness and simpler accessibility of conventional polyvinyl chloride than recycled polyvinyl chloride. Additionally, specialized technology, equipment, and most crucially polyvinyl chloride trash collecting services are needed for the manufacture of recovered polyvinyl chloride.
“Southeast Asia Recycled PVC Market Size, Trends and Insights By Type (Post-industrial Recycled PVC, Post-consumer Recycled PVC), By Application (Packaging, Cables, Building Construction, Pipes and fitting, Electrical Electronics, Automotive, Other), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032” report at https://www.custommarketinsights.com/report/southeast-asia-recycled-pvc/
Market Dynamics
Drivers
The growing use of Southeast Asia recycled PVC in the automotive sector will aid market growth.
In order to improve safety and lessen injuries in the event of an incident, recycled PVC is widely employed in the automotive sector. The overall demand for the PVC market is projected to increase as a result of rising auto manufacturing. For instance, a study written for the India Brand Equity Foundation in July 2022 states that India produced 22.93 million cars in FY22. These factors are anticipated to increase the demand for the PVC market during the period.
Restraints
Availability of another substitute
The main obstacles for market participants are anticipated to be higher cost-effectiveness and simpler availability of conventional polyvinyl chloride than recycled polyvinyl chloride. Additionally, specialized technology, equipment, and most crucially polyvinyl chloride trash collecting services are needed for the manufacture of recovered polyvinyl chloride. In terms of market share, post-consumer recycled PVC became the dominant raw material in 2021. Southeast Asia’s demand for post-consumer recycled PVC is expected to expand along with the demand for consumer electronics and middle-class households’ rising disposable income.
Opportunities
Increasing demand from the building construction sector
One of the main drivers of the growth of the worldwide recycled PVC market is factors like rising demand from the building and construction sector. In many architectural applications, polyvinyl chlorides are utilized for cables, pipes, floors, and window coverings. For instance, the construction industry is predicted to reach $1.4 trillion by 2025, according to a piece published by Invest India in the month of July 2022. These elements combine to produce the most advantageous conditions for the expansion of the recycled PVC market.
Challenges
A volatile organic molecule called VOC is produced throughout the projected time by melting. Additionally, heat is required to melt plastics, which produces carbon emissions that contribute to global warming and are hazardous to plants and animals. These are some of the most difficult aspects of the recycled PVC business, and they prevent much of the market’s expansion.
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Report highlights
Based on type, the segment includes post-industrial recycled PVC and post-consumer recycled PVC.
The post-industrial recycled PVC type segment dominated the market in 2021 and is expected to grow over the forecast period with a total market share of 72%. The post-industrial recycled PVC is plastic scrap generated as waste from industrial processes, and it is reused in the same material. Post-industrial recycled PVC finds application in various end-use industries. In addition, the region has a good presence in the electronics and automotive sectors, due to which the demand for post-industrial recycled PVC has escalated. These factors are anticipated to increase the overall demand for recycled PVC in the upcoming years.
Based on application, the segment includes packaging, cables, building construction, pipes and fitting, electrical electronics, automotive, and others. It is expected that the global packaging industry segment to hold a dominant position during 2022 -2031 and holds 39% of the total share.
The packaging industry is growing at a rapid pace in Singapore. For instance, according to an article published by EIN Presswire in November 2019, the packaging industry is expected to grow at 4.2% CAGR during the forecast period. In addition, recycled PVC has excellent organoleptic properties which do not impart taint or taste to foodstuffs owing to which it is extensively used in the packaging industry.
Regional Snapshots
Region-wise, the market is studied in the Southeast Asia region. Country Involves Singapore, Philippines, Vietnam, Thailand, Myanmar, and others.
With a greater than 33.0% sales share in 2021, Singapore controlled the recycled PVC market. The primary sector driving Singapore’s economic expansion is electronics. Additionally, the creation of finished electronics products generates numerous spin-offs to other industries that support the economy, such as logistics service providers, firms that develop electronic manufacturing systems, distributors of chemicals and materials, and producers of precision components. In the coming years, recycled PVC production in Singapore is anticipated to increase as a result of the rising demand of electronic goods.
Key Players
- Veolia
- SUEZ
- Rejeki Adigraha
- C.L. Plastic Co., Ltd.
- Global Plasts Center Co., Ltd.
- Withaya Intertrade Co., Ltd.
- Dong Phat Plastics
- CÔNG TY TNHH SẢN XUẤT THƯƠNG MẠI ĐỆ NHẤT
- TIN THANH PLASTIC MANUFACTURING – TRADING CO., LTD.
- Tran Thanh Phat
- Polindo Utama PT
- Production Recycling Indonesia
- K K Asia (HK) Ltd
- Taiplas Recycle Co., Ltd.
Table of Contents: https://www.custommarketinsights.com/report/southeast-asia-recycled-pvc/#table-of-contents
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