Westlake Chemical Corporation’s WLK Germany-based subsidiary, Vinnolit, recently launched GreenVin Polyvinyl Chloride (PVC), a lower-carbon alternative PVC and one of the most widely utilized plastics in the construction, automotive and medical sectors. The brand is modeled on European high-quality renewable energy certificates (Guarantees of Origin) associated with the production of the lower-carbon PVC and caustic soda.There is a surging market demand for lower-carbon plastics because of the awareness of sustainability among customers. In the light of this, GreenVin PVC and the entire GreenVin product line are part of the company’s commitment to contributing to a better future. Depending on the PVC type, the reduction in carbon dioxide with GreenVin PVC is about 25% compared to conventionally produced Vinnolit PVC.The introduction of the new PVC product follows the market launch of GreenVin caustic soda earlier this year. The recent launches are expected to expand the company's vinyl chloride and hydrogen products in the future.As outlined in its 2020 ESG (Environmental, Social, & Governance) Report, procuring green power is an important step toward achieving carbon dioxide-neutral PVC supply. The company’s efforts also support the energy transition and the European Green Deal. Additionally, Vinnolit is working with partners to offer bio-attributed PVC, based on bio-ethylene.Westlake shares have grown 28.5% over the past year compared with the industry’s 32.9% rise. The company’s estimated earnings growth rate for the current year is pegged at around 562%.Image Source: Zacks Investment ResearchIn the third quarter of 2021, Westlake reported earnings of $4.69 per share, topping the Zacks Consensus Estimate of $4.01. The company’s revenues were $3,055 million, which jumped 61% year over year and topped the Zacks Consensus Estimate of $2,716.2 million.In its third-quarter earnings call, the company noted that it expects the recently completed acquisitions of LASCO Fittings, Boral North America and Dimex, totaling around $2.6 billion, to initiate a stage of development and growth for its building products business. The LASCO buyout is expected to add to Westlake subsidiary NAPCO’s product portfolio with a focus on new markets and products. The Dimex acquisition adds a range of post-industrial recycled plastic consumer and building products. Westlake has also secured a leading position in the growing building products and construction markets through the Boral North America buyout. The company is optimistic that the investments will strengthen its footprint in the sustainable building product markets and provide long-term growth opportunities.Westlake Chemical Corporation Price and Consensus Westlake Chemical Corporation price-consensus-chart | Westlake Chemical Corporation QuoteZacks Rank & Other Key PicksWestlake currently carries a Zacks Rank #1 (Strong Buy).Other top-ranked stocks in the basic materials space are Dow Inc. DOW, flaunting a Zacks Rank #1, and Univar Solutions Inc. UNVR and Celanese Corporation CE, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Dow has an expected earnings growth rate of 447% for the current year. The Zacks Consensus Estimate for earnings for the current year has been revised 8.7% upward over the past 60 days.Dow beat the Zacks Consensus Estimate for earnings in all the four trailing quarters. The company pulled off a trailing four-quarter earnings surprise of roughly 14.12%, on average. Its shares have also gained around 2.5% over a year.Univar has an expected earnings growth rate of 55.2% for the current year. The Zacks Consensus Estimate for the current year has been revised around 9% upward over the past 60 days.Univar beat the Zacks Consensus Estimate for earnings in all the four trailing quarters. The company delivered a trailing four-quarter earnings surprise of roughly 24.1%, on average. Its shares have also rallied around 54.7% over a year.Celanese has an expected earnings growth rate of 139.7% for the current year. The Zacks Consensus Estimate for the current year has been revised 9.1% upward over the past 60 days.Celanese beat the Zacks Consensus Estimate for earnings in all the four trailing quarters. The company pulled off a trailing four-quarter earnings surprise of roughly 12.7%, on average. Its shares have also rallied around 23.3% over a year. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Westlake Chemical Corporation (WLK): Free Stock Analysis Report Dow Inc. (DOW): Free Stock Analysis Report Celanese Corporation (CE): Free Stock Analysis Report Univar Solutions Inc. (UNVR): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research