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Global PVC Compound Market
The latest report by ICRWorld Research states that the global pvc compound market is expected to grow at a substantial rate in the coming future. The study also discusses the market size and growth prospects distributed regionally while also stating the motivating and restraining factors influencing the global pvc compound market. Polyvinyl chloride (PVC) is used for various medical applications such as manufacturing of flanges for Copper-T, oxygen mask, blood bags, urine bags, glucose bags, disposable tubes and more, food and packaging applications such as producing bottles, blister packaging films and crown caps, industrial applications such as petrol tubes, profiles, co-extrusion strap, hoses for fuels and oils and gaskets, building and construction and consumer and institutional.
Rising substitution for glass, natural rubber, metals, wood and man-made materials, such as concrete is expected to drive the growth of the market. The increased demand for plastic due to its industrial applications due to its versatile benefits, easy molding abilities and the capacity to form various shapes also motivates the growth of the market. However, there are a few restrictions limiting the growth of the market. Political instability leads to volatility in crude oil prices which in turn affects the entire supply chain cycle and hence may impede the growth of the market. Furthermore, the market is highly integrated from the initial stage to the final stage and major companies have established healthy supply partnerships which may also have a greater impact on the prices of plastic compounding.