The vinyl chloride monomer market was valued at approximately USD 16.1 billion and is projected to reach USD 28 billion by 2034, growing at a CAGR of 5.7%. VCM is a vital industrial chemical mainly used to produce polyvinyl chloride (PVC), a plastic widely applied in construction, automotive, electrical, and packaging sectors. The increasing demand for PVC-based products especially in developing countries is pushing the VCM market upward.
PVC’s versatility and durability make it ideal for pipes, wire coatings, and medical devices. A large portion of VCM production nearly 80% goes directly into making PVC. North America, with its mature industries, is currently leading the market, holding a significant share of around USD 7.7 billion in 2024. Technological improvements like oxychlorination have also helped manufacturers produce VCM more efficiently and at lower costs, making it more accessible to a growing global market.
