The Global PVC Foam Market is expected to register a CAGR of around 3.8%, reaching a value of around USD 22.1 billion by the end of 2027.
PVC foam is lightweight, compressed foam board. It exhibits superior properties such as water resistance, corrosion resistance, fire resistance, high strength, durability, and cost-effectiveness. PVC foam is used as a substitute of wood and is an ideal choice of material for advertising, indoor & outdoor decoration, wall cladding, etc.
Market Driver:
PVC Foam are widely used to manufacture doors, furniture, outdoor advertising boards, shelves, kitchen cabinets, among others in the construction industry. Growth of the construction industry is attributed to the rapid industrialization and urbanization across the globe. PVC foams are inherently low-moisture absorbing, heat resistant, and sound absorbing, which makes them materials of choice for products such as seals, insulation, and HVAC applications.
Rise in urbanization is attributed to the migration of population to the urban areas, which is further driving the construction chemicals market. For instance, the Indian real estate sector is expected to reach a market size of USD 180 billion by 2020 and USD 1 trillion by 2030. It is contribution to the country’s GDP is expected to be approximately 13%.
Moreover, the rising infrastructural development in developed economies is expected to duel the demand for PVC foams. According to the US Census Bureau, the construction spending in December 2019 was USD 1,327.7 billion, out of which, the spending on private construction was around USD 1,000 billion.
Thus, growing building & construction industry is projected to propel the demand for PVC foams during the review period.
PVC foam is used in automotive application such as NVH (noise, vibration, & harshness) seals, gaskets, pads, closure strips, pillar stuffers, chassis, and others. It provides excellent acoustic/sound control and cushioning in and around windshields, door panels, instrument panels, headliners, and more.
PVC foam is lightweight, moisture, chemicals, and corrosion resistant, and has low water absorption. Moreover, it is flame retardant and self-extinguishing. Additionally, it is ideal substitute for aluminum, wood, and other composites, which is further driving the global demand for PVC foam in automotive industry. The total automobile production in 2018 stood at 95.6 million, with countries such as Russia, Indonesia, Malaysia, and Romania showing a double digit percentage change in automobile production.
Therefore, the demand for lightweight and fuel-efficient vehicles is driving the demand for PVC foam in automotive industry.
Market Restraint:
Petroleum products, resins, and inorganic chemicals are used in the manufacturing of PVC foam. Ethylene is used to produce vinyl chloride monomer, further used to manufacture PVC. The fluctuating price of ethylene due to supply demand gap of crude oil is a key restraining factor.
Furthermore, harmful effects of petroleum-based raw materials on environment and human health act as a hampering factor.
Figure 1: Ethylene Prices (USD/kg)
Source: UN Comtrade
Thus, fluctuating raw material prices is a key restraining factor for the market growth.
The report on the PVC foam market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
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Report Features |
Specifics |
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Historical/Estimated/Forecasted Market Size Years |
2018-2027 |
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Base Year for Market Calculation |
2019 |
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Forecasted Period |
2020-2027 (2020 estimated year, forecasted up to 2027) |
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Measured Units |
Value (USD Million) Volume (Million Sq. Meter) |
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Segments Included |
Type and Application |
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Regional Coverage |
North America, Asia-Pacific, Europe, Middle East & Africa, South Africa |
For the scope of the report, In-depth segmentation is offered by Forencis Research
PVC Foam Market, by Type
PVC Foam Market, by Application
PVC Foam Market, by Region
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE PVC FOAM MARKET STUDY
Note1: Tentative table of contents, may get updated during the course of research.
Note2: Company financial information is subject to availability in public domain
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE STUDY
