High Demand from Building & Construction Industry to Drive the PVC Foam Market

Global PVC Foam Market: Key Highlights

• According to the new market research report “PVC Foam Market by Type (Rigid, Flexible), by Application (Construction, Automotive, Aerospace, Packaging, Marine, and Others), by Region (North America, Asia Pacific, Europe, Middle East and Africa, South America) – Global Forecast (2019 to 2027)”, the global PVC foam market is expected to be valued at USD 22.1 billion, exhibiting a CAGR of around 3.8% during the review period
• PVC foam is a lightweight, compressed foam board and exhibits properties such as water resistance, corrosion resistance, fire resistance, high strength, durability, etc.
• It is widely used for advertising, indoor & outdoor decoration, and wall cladding among others
• Increasing inclination towards bio-based PVC foams is expected to offer lucrative opportunities to the players in this market
• However, fluctuations in raw material costs is a key hampering factor for the market growth

Global PVC Foam Market: Key Market Dynamics

• Fast paced industrialization and urbanization across the globe is the prime driver for the global PVC foam market
• It is extensively used for manufacturing doors, furniture, outdoor advertising boards, shelves, kitchen cabinets
• Increasing disposable income of the consumers has resulted in renovation as well as new construction activities, thus promoting the demand for PVC foams
• Another major driver of the global PVC foam market is its use on the automotive industry
• It is widely used in applications such as application such as NVH (noise, vibration, & harshness) seals, gaskets, pads, closure strips, pillar stuffers, chassis, and others
• Countries such as Russia, Indonesia, Malaysia, and Romania are witnessing a high production rate for automobiles, which is likely to propel the demand for PVC foams

Global PVC Foam Market: Regional Overview

• North America

North America is expected to hold significant share in the global PVC Foam market, on account of the rising spending in infrastructural development. The US Census Bureau states that the construction spending in the US in December 2019 was USD 1,327.7 billion.

• Asia-Pacific

Asia-Pacific emerged as the fastest-growing region for the PVC Foam market, owing to the ever-expanding industrial base in the region. Major contributors to the market growth include China, India, and Japan, among others. With government initiatives such as Net Zero Imports and Make in India are expected to result in rapid industrial development, thus resulting in construction activities, further driving the PVC foam market.

Global PVC Foam Market: Key Players Overview

• CoreLite:

CoreLite is a global manufacturer of advanced foam & balsa core materials. It has 4 manufacturing facilities across the globe and sells its products in more than 40 countries.

In December 2018, the company entered in partnership with Biesterfeld Spezialchemie to sell its CoreLite core materials in Germany, UK, and the Baltic States. The CoreLite product range includes BALSASUD Core, CoreLite PET, CoreLite PVC foams, and CoreLite Board.

• ARMACELL:

ARMACELL is a leading provider of engineered foams and develops innovative and safe thermal, acoustic, and mechanical solutions. In October 2017, the company acquired Danmat, Ølstykke, Denmar and integrated insulation cladding products based on PVC and polyurethane.

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