Flooring & Wall Coverings to Hold Major Share in PVC Emulsion Market: Fact.MR
Published : 06 May 2021 Industry: Chemical & Materials
Demand for PVC emulsions is rising owing to growing application in synthetic leather manufacturing and flooring & wall coverings. Additionally, rise in demand for automotive mastic and fabric & surface coatings is augmenting sales of PVC emulsions across geographies.
According to a latest report by fact.MR, flooring & wall covering applications are expected to hold a major chunk of the industry revenue, while the focus of the manufacturers will be on North America, Europe, and Asia Pacific for increased sales and profits. The market is expected to expand at a steady CAGR of around 4% from 2021 to 2031.
Key Takeaways from Market Study
- Growing application in flooring & wall coverings to boost sales.
- The United States to lead North America’s market for PVC emulsions.
- Germany is set to exhibit hegemony in Europe for PVC emulsions.
- The market in Asia Pacific to show the fastest growth throughout the forecast period.
- China, Japan, the United Kingdom, Canada, and France to remain positive in terms of industry outlook.
“PVC emulsion manufacturers are gaining traction with increase in application in printing inks, adhesives, automotive sealants, and other key application sectors,”
says a Fact.MR analyst.
Demand from Automotive Sector Boosting Sales
PVC emulsions have wide application in the automotive sector, such as in automotive mastics, automotive sealants, and others. With rise in application in the automotive sector, manufacturers of PVC emulsions are coming across lucrative growth scope.
According to a report published by SelectUSA, the United States, Germany, and China have some of the biggest automotive industries in the world. As stated in the report, in 2018, U.S. light vehicle sales reached 17.2 million units, the fourth straight year in which sales reached or surpassed 17 million units. US$ 105 billion is spent on research & development (R&D) activities in automotive sector, globally, every year. This represents high demand for PVC emulsions from the global automotive sector.
Who is Winning in this Space?
The market is fragmented and thriving on key industry players. In order to sail through the cut-throat competition, prominent market players are launching a wider variety of products.
- Kem One recently launched its new range of PB1156 PVC, PB1172H PVC, and others.
- LG Chem launched its new range of flame- and corrosion-resistant PVC emulsion for wire sheaths, pipes, and other extensive applications, a couple of years back.
More Valuable Insights
In its latest report, Fact.MR offers an unbiased analysis of the PVC emulsion market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of application (flooring & wall coverings, synthetic leather manufacturing, automotive mastics & sealants, fabric coatings, surface coatings, printing inks & adhesives, and others), across seven major regions of the world (North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA).
About the Chemicals & Materials Division at Fact.MR
Chemicals & materials division analysts at Fact.MR have been categorically tracking the broader sub-industries to keep themselves abreast of the recent happenings in the market. Our practical approach to product design and pricing strategy contributes to the growth of businesses that are struggling to hit the ‘move-the-needle’ bottom line. With unmatched analytical diligence, the team at Fact.MR helps organizations design product differentiation strategies and introduce exclusive product(s) to their existing portfolio.
For more information, refer to our market research report or contact the PR author.
Consultant – Chemicals and Materials