PVA Glue Market to Expand at a CAGR of Over 6%
According to latest research by Fact.MR, PVA glue market is projected to grow at a steady pace during 2021-2031.While the market is set to show recovery from crisis in the mid-term of the projection period, for the long term, demand is expected to showcase higher than the historical growth. Increasing adoption of DIY crafts and repairing around the house is driving PVA glue demand, owing to its properties like quick fix and easy absorption. This is expected to project growth in the PVA glue sales.
What is Driving PVA Glue Sales?
With growing attention towards standard of living, rise in consumer spending on home decor and furniture has been observed, in past few years. This has significantly contributed to the growing demand for PVA glue, owing to its variety of application in assembling different wooden parts. Similarly, PVA glue offers several benefits compared to other adhesive glue such as, high tensile, strength, and easy absorption.
Furthermore, in last few year, its use has expanded across other industries, among which textile industry has been at the front. PVA glue is extensively used for clothes as well, which in turn contribute in increasing PA glue sales, owing to its distinguishing characteristic of readily absorbing porous material.
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COVID-19 Hinder the Global Sales of PVA Glue
During pandemic, PVA glue demand witnessed a downslide, owing to complete shutdown across various industries. Additionally, the PVA glue sales figures shrunk due to disruptions in raw material supply and reduction in consumption. However, online retailers including Amazon, Alibaba and others, supported the PVA glue sales by engaging stable sales amid pandemic.
However, after few months later to lockdown, PVA glue observed growth in demand, due to increasing interest of consumers in renovation, crafting and refurnishing furniture. This has indirectly attracted demand for PVA glue. Additionally, the PVA glue manufacturers have been targeting residential customers more than commercial customers, owing to growing demand from residential consumers. Furthermore, PVA glue manufactures have been expanding their product portfolio over online sites, to address the on-going demand. For instance, Itsy Bitsy started to offer several PVA glue including, stick PVA glue, Art PVA glue and others, though online stores. These factors are anticipated to increase the PVA glue demand over the foreseeable years.
U.S and Canada PVA Glue Demand Outlook
According to Thomas Publishing Company, in 2018, the U.S. textile industry was around US $70 billion, owing to export value of US $ 23 billion. Growing number of textile players in market is anticipated to create more demand for PVA glue. This has significantly showcased growth in U.S. PVA glue market in past few years. North America leads the PVA glue market, owing to large number of textile companies.
Similarly, U.S and Canada carry have presence of several PVA glue manufacturers such as Plastic Products, Inc., CP Adhesives, Inc. and others. However, another factors supporting the U.S. PVA glue demand is large number of home improvement and hardware stores across the U.S. For instance, over 2,500 home improvement stores are present in U.S. that sell household hardware materials and products for DIY utility. Similarly, Canada has over 1,500 hardware stores, which in turn supports the PVA glue demand.
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Europe Demand Outlook for PVA Glue
Similar to their North American counterpart, the demand of PVA glue has been increasing at a rapid pace in European countries, owing to growth in its procurement by several applications. Some of the European countries including Germany, U.K, Italy, and Spain are witnessing significant growth in the PVA glue sales due to the presence over 500 DIY stores.
Additionally, PVA glue demand in Europe is also growing due to increasing number of furniture manufacturing players. Europe has presence of major furniture manufactures including, IKEA, Steinhoff, and JYSK, which further intensifies the regional demand.
Who are the Key Manufacturers and Suppliers of PVA Glue?
Some of the key market participants of key PVA glue are
- Palmer Holland Inc.
- Ensinger Penn Fibre Inc.
- Howard J. Moore Company Inc.
- Plastic Products Inc.
- Nexeo Plastics
- CP Adhesives Inc.
- Mil-Spec Industries
- McWhorter Inc.
Some emerging Chinese suppliers of PVA glue includes
- Hangzhou Joinleader New Materials Co. Ltd.
- YU-KUANG CHEMICAL INDUSTRY CORPORATION
- Hejian Anjiefa Building Material Co. Ltd.
- Shijiazhuang Yijierongshang Import And Export Trading Co. Ltd.
- Qinghe Yongxing Industrial Co. Ltd.
An Adaptive Approach to Modern-day Research Needs
PVA Glue Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
By Product Technology
By End Users
- Industrial Purpose
- Residential Customers
By Distribution channel
- Direct Sales/B2B
- Online Retail
- Home Improvement Stores
- Modern Trade
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Others
- Western Europe
- Eastern Europe
- Asia Pacific
- Australia and New Zealand (ANZ)
- Greater China
- Rest of Asia Pacific
- Middle East and Africa
- GCC Countries
- Other Middle East
- North Africa
- South Africa
- Other Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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