ICIS, a global market information service provider for the energy and chemical industry, recently stated that by 2034, the global polyvinyl chloride (PVC) market size will increase by 16 million tons, nearly a third more than in 2024. India, Southeast Asia, and the Middle East are emerging as new centers. Although the global chemical industry is facing issues such as overcapacity and adjustments in the trade pattern, India has become the biggest contributor to the growth of global PVC demand. Supported by the growth in the construction, water resource management, and transportation sectors, India will achieve the highest compound annual growth rate in terms of global PVC demand.

Analysts predict that by 2030, India′s total PVC consumption will double, and the per capita consumption will increase from 2.6 kilograms to 5 kilograms. Umesh Nayak, President of the Polymer Business of Reliance Industries in India, said, "PVC is not just a material but has become a pillar of infrastructure. From pipes, cables, fittings to flooring and films, it is crucial for India′s economic growth."

Although the outlook for India′s PVC industry is optimistic, challenges still remain. It is expected that the global overproduction of PVC will persist until 2029. Relevant stakeholders have repeatedly emphasized the need to take the following measures: Firstly, establish tariff safeguard measures to prevent the dumping of cheap PVC and its derivatives from abroad; secondly, increase investment in the downstream manufacturing industry to reduce dependence on the import of finished products; thirdly, promote policy and institutional reforms to support the rapid construction of infrastructure; fourthly, achieve a circular economy and comply with environmental, social, and governance (ESG) standards, as sustainability has become one of the core factors in investment decisions.