PVC FOAM MARKET: SUMMARY
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.
PVC FOAM MARKET: DRIVERS & OPPORTUNITIES
- Growing Demand for PVC Foam in Building & Construction Industry
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.
- Use of PVC Foam in Automotive Industry
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.
- Fluctuating Raw Material Prices
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.
PVC FOAM MARKET: KEY SEGMENTS
- Segmentation based on type: Rigid and Flexible.
- Segmentation based on application: Construction, Automotive, Aerospace, Packaging, Marine, and Others.
- Segmentation based on region covers: North America, South America, Europe, Asia-Pacific, Middle East & Africa and South America, with individual country-level analysis.
PVC FOAM MARKET: REPORT SCOPE
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.
Historical/Estimated/Forecasted Market Size Years
Base Year for Market Calculation
2020-2027 (2020 estimated year, forecasted up to 2027)
Value (USD Million) Volume (Million Sq. Meter)
Type and Application
North America, Asia-Pacific, Europe, Middle East & Africa, South Africa
KEY COMPANIES COVERED
- ARMACELL (Germany) (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- 3A Composites GmbH (Switzerland)
- Palram Industries Ltd.(Israel)
- CoreLite (US)
- Stadur Produktions GmbH & Co.KG (Germany)
- POTENTECH (GUANGDONG) LIMITED (China)
- Gurit (Switzerland)
- DERFLEX (China)
- Ecoste (India)
- Composites One (US)
- Kemron Wood Plast Private Limited (India)
- Sun Acrylam Private Limited (India)
- Biopac India Corporation Ltd. (India)
- Other Key Companies
PVC FOAM MARKET: REPORT SEGMENTATION
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
- North America
- South Korea
- Australia & New Zealand
- Rest of Asia-Pacific
- The Netherlands
- Rest of Europe
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
KEY QUESTIONS ANSWERED BY THE REPORT
- What are the prominent developments affecting the market worldwide and its growth?
- What will be the impact of the developments in the market on the industry and on the market players in the future?
- What are the evolving variations of the market globally?
- What are the evolving functions of the market globally?
- What are the prominent aspects that will affect market growth globally during the study period?
- Who are the key players operating in the market across the globe?
- How are the key players leveraging in the present market scenario worldwide?
- PVC Foam Market Providers
- PVC Foam Market Solution and Services Suppliers, Distributors and Dealers
- End-Users of Varied Segments of PVC Foam Market
- Government Bodies and Intellectual Institutions
- Associations and Industrial Organizations
- Research & Consulting Service Providers
- Research & Development Organizations
- Investment Banks & Private Equity Firms
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE PVC FOAM MARKET STUDY