PVC Sheet Market Overview
PVC Sheet Market size is forecasted to reach a value of US$11.2 billion by the end of 2027 after growing at a CAGR of 4.2% during the forecast period 2022-2027. In the manufacturing of PVC sheets, various materials such as an elastomer, mercaptides, tetrahydrofuran, phthalates, and more are used to enhance the durability of the PVC sheets. The important benefits such as anti-aging qualities, free from cracks and bubbles, suited for a wide range of temperatures, and other advantages make them ideal for various end-use industries such as medical & healthcare, home furnishing, and more. The PVC Sheet Market is primarily driven by the growth of the building and construction industry. Moreover, the growth of the transport sector is anticipated to fuel the demand for PVC sheets. This, in turn, will drive the growth of the market in the projected forecast period of 2022-2027.
PVC Sheet Market COVID-19 Impact
The surge in the Covid-19 pandemic hampered the global PVC market growth in the year 2020. The imports and exports related to PVC declined due to the supply chain disruption. For instance, in 2020, the total worldwide imports of PVC were 119,025 tons, a decline of 6.9% over 2019. Moreover, in 2020, the global exports of PVC were US$10,479.2 million, a decline of 3.6% over the previous year. Thus, such a decline in the imports and exports of PVC impacted the production of PVC sheets, which resulted in a decline in the growth of the market. However, government measures were taken to restore the supply chain. This resulted in the growth of the PVC Sheet Market. Furthermore, it is anticipated that the impact of the Covid-19 pandemic will be phased out in upcoming years. This will result in the PVC sheet industry growth scenario before the Covid-19 time.
Report Coverage
The report: "PVC Sheet Market–Forecast (2022-2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the PVC Sheet Market.
Key Takeaways
- Asia-Pacific region dominated the PVC Sheet Market, owing to the increasing construction activities in the region. For instance, according to Invest India, there is a total of 115 future construction projects which are under the planning phase in India, and the value of these projects is about US$11.63 million, these projects include the construction of hotels, and offices buildings, shopping complex, and more.
- The increasing adoption of sustainable PVC is encouraging the PVC manufacturers to launch eco-friendly PVC sheets, which is driving the growth of the PVC Sheet Market.
- Moreover, the increasing application of PVC sheets in the healthcare sector to ensure hygiene and maintenance is projected is fueling the PVC Sheet Market growth.
- However, the fluctuation in PVC raw material prices is expected to restrain the market growth in the coming few years.
PVC Sheet Market Segment Analysis – By Type
The rigid segment held a significant share in the PVC Sheet Market in 2021 and is forecasted to grow at a CAGR of 4.4% during the forecast period 2022-2027. The properties of rigid PVC sheet such as non-flammable, superior resistance to weathering, higher dimensional stability, and more makes them highly durable. Moreover, when compared with a semi-rigid PVC sheet, it is cost-effective. Furthermore, type II and chlorinated polyvinyl chloride have stronger heat and chemical resistance, as well as improved impact resistance that is resulting in their surging adoption, which is high when compared with type I. Hence, the above-mentioned factors are resulting in the surging adoption of the rigid PVC sheet, which is benefiting the segmental growth of the rigid PVC Sheet Market.
PVC Sheet Market Segment Analysis – By End-Use Industry
The building and construction segment held a significant share in the PVC Sheet Market in 2021 and is forecasted to grow at a CAGR of 5.1% during the forecast period 2022-2027. The PVC sheets are utilized in the building and construction because PVC sheets can simulate hardwood and leather textures that meet a variety of aesthetic criteria. PVC flooring, which is replacing traditional tiles and is easier to install, is becoming a popular alternative for residential and commercial constructions. The economic growth, rising disposal income, and more such factors at the global are leading to a surge in the development of commercial construction projects related to hotels, shopping centers, and more. In September 2021, Pan Pacific Hotels Group started the expansion of its global pipeline with 13 new properties planned for 10 important gateway cities by 2024. The Group's inventory will be expanded by about 3,300 rooms, bringing its total to 48 hotels, resorts, and serviced apartments spread throughout 29 locations. Thus, the surging construction activities are propelling the demand for PVC sheets, which is expanding the market growth.
PVC Sheet Market Segment Analysis – By Geography
Asia-Pacific region is the dominating region as it holds the largest share in the PVC Sheet Market in 2021 up to 43%. Due to the rapid pace of industrialization in the Asia-Pacific region, there is a surge in the development of office buildings, residential houses, and more. The government initiatives toward residential construction, growth of the commercial sector, and more such factors are fueling the growth of the construction industry in the Asia-Pacific. For instance, In February 2021, Authorities in Bac Giang's northern region, Vietnam have established a goal of developing 20 urban zones by 2025, with infrastructural development receiving special priority. The city will accelerate the construction of some urban residential zones as well as transportation projects from 2021 to 2025. Moreover, the construction works began with an investment of US$4,335 million for the project at Zhangzhou Development Zone Shuangyu Island Secondary Development, China. The development work began in the third quarter of 2021 and is expected to be completed in the third quarter of 2025. Similarly, the Malaysian government suggested several incentives to increase homeownership in its budget for 2021. Therefore, the growth of the building and construction activities is projected to fuel the demand for PVC sheets. This, in turn, will accelerate the market growth in the upcoming years.
PVC Sheet Market Drivers
Growth of the Transport Sector
The PVC sheet has properties such as lightweight, flame resident, and more. These properties are important to make the components highly durable. So, in the transport sector, PVC sheet is employed in the protective shields, inner cabinet frame, and more to ensure higher shelf life. The factors such as the growth of the logistics and supply, increasing demand for consumers, and other such factors are accelerating the growth of the transport industry. For instance, according to the OrganisationInternationale des Constructeursd'Automobiles (OICA), in 2021 the global automotive production increased to 80,154,988 units, which was about 3% higher than in 2020. Moreover, in 2020 the global passenger car production was 55,908,989 units, and in 2021 it was 57,054,295 units, an increase of about 2%. Moreover, according to airbus the widebody aircraft production in the year 2019 was 153, an increase of 59.4% over the previous year. Thus, the growth of the transport sector is boosting the demand for PVC sheets, which is driving the growth of the market.
Rising Product Innovation Related to PVC Sheet
The PVC Sheet manufacturers are launching sustainable PVC sheets to comply with the surging restrictions, which may limit the market growth in the long run. Moreover, the growing end-user interest in eco-friendly PVC sheets is resulting in the development of new PVC sheet products. For instance, in April 2020, Achilles Corp. developed AM-01, an eco-friendly, soft PVC sheet created with biomass as a raw material. The sheet has been approved by the Japan Organics Recycling Association (JORA) with the Biomass Mark, and Achilles has utilized it to commence sales of the world's first biomass-based desk mat. Moreover, in October 2019, Vycom, a market-leading developer of highly innovative plastic sheet products, introduced its Celtec DigiLiteTM light density PVC sheets, which enable economy to maintain the the same print quality as Celtec premium signboard materials. Therefore, such new product launches related to PVC sheets are propelling the growth of the PVC Sheet Market.
PVC Sheet Market Challenges
Fluctuation in Raw Material Prices
The PVC sheet has the advantages of higher strength, low cost, and more, which makes it ideal for multiple applications. Nonetheless, fluctuations in the pricing of PVC, mercaptides, tetrahydrofuran, and other materials result in additional costs to the overall cost of the PVC sheet. For instance, according to the British Plastics Federation, PVC prices rose for the seventh month in a row in January 2021, continuing their upward trend. They were propelled once more by the tight market conditions and the still-vigorous demand. As a result, PVC base material producers were able to raise prices above the comparable C2 cost increase once more. Thus, the growth of the PVC price directly impacts the overall pricing of the PVC sheet, which is projected to limit the market growth in the upcoming years.
Global PVC Sheet Industry Outlook
Technology launches, acquisitions, and increased R&D activities are key strategies adopted by players in the PVC Sheet Market. PVC sheet top 10 companies are:
- 3A Composites
- Gurit
- Diab
- Armacell International S.A.
- CoreLite, Inc.
- Changzhou Tiansheng New Materials CO., LTD.
- POTENTECH (GUANGDONG) LIMITED
- Maricell S.r.l.
- Novagard Solutions, Inc.
- CHANGZHOU UTEK COMPOSITE CO., LTD
Recent Developments
- In May 2021, Ex-Tech Plastics based in the U.S was acquired by Good Natured Products headquartered in Canada for US$14 million. The acquisition's primary goal was to expand the plastic sheet business, which comprised PVC sheets.
- In April 2020, Achilles Corp., based in Japan, designed the AM-01, an eco-friendly, soft polyvinyl chloride (PVC) sheet made with biomass as a raw material.
- In August 2019, Curbell Plastics based in the United States acquired Texas-based Nationwide Plastics, which also included the acquisition of the plastic sheets manufactured from PVC.
Relevant Reports
Report Code: CMR 1215
Report Code: CMR 61011
LIST OF TABLES
1.Global PVC Sheet Market, by Type Market 2023-2030 ($M)2.Global PVC Sheet Market Analysis and Forecast by Type and Application Market 2023-2030 ($M)
3.Global PVC Sheet Market, by Type Market 2023-2030 (Volume/Units)
4.Global PVC Sheet Market Analysis and Forecast by Type and Application Market 2023-2030 (Volume/Units)
5.North America PVC Sheet Market, by Type Market 2023-2030 ($M)
6.North America PVC Sheet Market Analysis and Forecast by Type and Application Market 2023-2030 ($M)
7.South America PVC Sheet Market, by Type Market 2023-2030 ($M)
8.South America PVC Sheet Market Analysis and Forecast by Type and Application Market 2023-2030 ($M)
9.Europe PVC Sheet Market, by Type Market 2023-2030 ($M)
10.Europe PVC Sheet Market Analysis and Forecast by Type and Application Market 2023-2030 ($M)
11.APAC PVC Sheet Market, by Type Market 2023-2030 ($M)
12.APAC PVC Sheet Market Analysis and Forecast by Type and Application Market 2023-2030 ($M)
13.MENA PVC Sheet Market, by Type Market 2023-2030 ($M)
14.MENA PVC Sheet Market Analysis and Forecast by Type and Application Market 2023-2030 ($M)
LIST OF FIGURES
1.US Global PVC Sheet Industry Market Revenue, 2023-2030 ($M)2.Canada Global PVC Sheet Industry Market Revenue, 2023-2030 ($M)
3.Mexico Global PVC Sheet Industry Market Revenue, 2023-2030 ($M)
4.Brazil Global PVC Sheet Industry Market Revenue, 2023-2030 ($M)
5.Argentina Global PVC Sheet Industry Market Revenue, 2023-2030 ($M)
6.Peru Global PVC Sheet Industry Market Revenue, 2023-2030 ($M)
7.Colombia Global PVC Sheet Industry Market Revenue, 2023-2030 ($M)
8.Chile Global PVC Sheet Industry Market Revenue, 2023-2030 ($M)
9.Rest of South America Global PVC Sheet Industry Market Revenue, 2023-2030 ($M)
10.UK Global PVC Sheet Industry Market Revenue, 2023-2030 ($M)
11.Germany Global PVC Sheet Industry Market Revenue, 2023-2030 ($M)
12.France Global PVC Sheet Industry Market Revenue, 2023-2030 ($M)
13.Italy Global PVC Sheet Industry Market Revenue, 2023-2030 ($M)
14.Spain Global PVC Sheet Industry Market Revenue, 2023-2030 ($M)
15.Rest of Europe Global PVC Sheet Industry Market Revenue, 2023-2030 ($M)
16.China Global PVC Sheet Industry Market Revenue, 2023-2030 ($M)
17.India Global PVC Sheet Industry Market Revenue, 2023-2030 ($M)
18.Japan Global PVC Sheet Industry Market Revenue, 2023-2030 ($M)
19.South Korea Global PVC Sheet Industry Market Revenue, 2023-2030 ($M)
20.South Africa Global PVC Sheet Industry Market Revenue, 2023-2030 ($M)
21.North America Global PVC Sheet Industry By Application
22.South America Global PVC Sheet Industry By Application
23.Europe Global PVC Sheet Industry By Application
24.APAC Global PVC Sheet Industry By Application
25.MENA Global PVC Sheet Industry By Application