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Vinylon Tube Market Overview
The Vinylon Tube
Market size is estimated to reach a value of US$425.6 million by the end of 2027 after growing at a CAGR of 4.1% during the forecast period 2022-2027. Vinylon is a synthetic fiber composed of polyvinyl alcohol by
using limestone and anthracite as raw materials. It is used in a wide range of
end-use which include building & construction, automotive, agriculture and
other end-uses. The expansion of vinylon tubes is primarily driven by their
usage in the construction industry. In 2020, the surge in the COVID-19 pandemic
negatively impacted construction activities as a result of the country-wise
shutdown of construction sites, shortage of labor and the decline of the supply
and demand chain all across the world, thus, temporarily affecting the growth
of the global vinylon tube industry. However, a steady recovery in new
development and construction contracts has been witnessed across many countries
around the world since 2021, which in turn, is driving the demand for vinylon
tubes. For instance, according to recent insights from the World Cement, the
global construction industry output increased by 5.7% in 2021. An increase in
construction activities along with the surging demand from the automotive industry
is expected to drive the growth of the vinylon tube market size in the upcoming
years. On the other hand, fluctuating prices of raw
materials may confine the growth of the market.
Vinylon Tube Market Report Coverage
The report: "Vinylon Tube Market Report – Forecast (2022-2027)” by IndustryARC,
covers an in-depth analysis of the following segments in the Vinylon Tube Market.
By Material: Polyvinyl
Alcohol, Anthracite and Limestone.
By Type: Water
Soluble, High Strength & High Modulus.
By End-use: Construction (Residential, Commercial, Others), Automotive (Passenger Cars, Light Commercial Vehicle, Heavy Commercial
Vehicles), Agriculture, Bait Tubes, Others.
By Geography: North
America (the USA, Canada and Mexico), Europe (UK, Germany, France, Italy,
Netherlands, Spain, Denmark, Belgium and the Rest of Europe), Asia-Pacific (China,
Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan,
Malaysia and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile
and Rest of South America), Rest of the World [Middle East (Saudi Arabia, UAE,
Israel and Rest of Middle East) and Africa (South Africa, Nigeria and Rest of
Africa)].
Key Takeaways
- High Strength & high modulus type held a significant share in Vinylon Tube Market in 2021, owing to its increasing demand from the industrial sectors such as building & construction, automotive and more.
- The building & construction segment held the largest share in Vinylon Tube Market in 2021, owing to the increasing demand for vinylon tubes from the construction sector across the world.
- Asia-Pacific dominated the Vinylon Tube Market in 2021, owing to its increasing demand from the construction sector of the region. For instance, in October 2021, the MoC (Ministry of Construction) of Vietnam proposed around 266 residential housing projects across the country which are scheduled to be completed from 2022 to 2025.
- A detailed analysis of strengths, weaknesses, opportunities and threats will be provided in the Vinylon Tube Market Report.
Figure: Vinylon Tube Market Revenue Share, By Geography, 2021 (%)
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Vinylon Tube Market Segment Analysis – By Type
High Strength
& high modulus type held a significant Vinylon Tube Market share of
over 18% in 2021, owing
to its increasing demand from the industrial sectors such as building &
construction, automotive and more. The properties of high
strength & high modulus vinylon tubes such as higher durability, strength
and modulus, along with low elongation and excellent resistance to extreme
weather, chemicals and UV rays make it ideal for use in construction and
automotive sectors. High Strength & high modulus tubes are used in the
construction sector for multiple applications involving the construction of
roofs, balconies, railings, staircases, beams and more. Meanwhile, it is also
used in the automotive industry for applications involving car suspension
systems, components of engine and transmission, along with components of body
and chassis and other similar applications. For instance, recent insights from
the World Cement state the global output from the construction industry increased
by 5.7% in 2021. Furthermore, according to the International Organization of
Motor Vehicle Manufacturers (OICA), the total global automobile production
reached 80.2 billion units in 2021, an increase of 3% as compared to 77.7
billion units in 2020.
Thus, such surging developments associated with the construction and automotive
industries are expected to increase the demand for high
strength & high modulus
vinylon tubes, owing to their above-mentioned properties. This is expected to boost the growth of the
market during the forecast period.
Vinylon Tube Market Segment Analysis – By End-use Industry
The construction industry held the largest Vinylon Tube Market share of over 25% in 2021, owing to the increase in
construction activities across the world. For instance, in October 2021, the
Ministry of Construction of Vietnam proposed VND 30 trillion (US$1.3 billion)
credit package to build low-cost residential homes for workers. Likewise,
another 278 building construction projects including 276,000 units with a total
area of 13.8 million square meters are currently under development in Vietnam.
All of these projects are scheduled to begin in 2022 and be completed by the
end of 2025. Furthermore, recent insights from Construct Connect state that
the U.S. government has funded around US$20 billion for the construction of a
real estate and development project called One Central project in Chicago. The
project is under the schematic design phase and currently undergoing
construction in 2022.
Vinylon tube
composed of polyvinyl alcohol, anthracite and limestone is primarily used in
the construction industry for applications involving the construction of roofs,
staircases, balconies, railings, beams and other components of the building
structure, owing to its high strength, durability and modulus, along with low
elongation and excellent resistance to extreme weather, chemical and UV rays. Thus,
such surging developments in the construction sector across the world are
expected to increase the demand for vinylon tubes, owing to their above-mentioned
usage. This is
expected to expand the vinylon tube market size during the forecast
period.
Vinylon Tube Market Segment Analysis – By Geography
Asia-Pacific
held a dominant Vinylon Tube Market share of over 43.0% in the year 2021. The
consumption of vinylon tubes is particularly high in this region due to its
increasing demand from the construction sector. For instance, in August 2021,
the construction of the airport terminal commenced in Rajkot, India. The
airport will cover an area of 1,032 hectares, while its new terminals will be
capable of handling 1,300 passengers at a time. The new airport is scheduled to
be operational in 2023. Moreover, recent insights from Invest India state that
there are around 115 future construction projects that are currently under the
planning phase in India in 2022. The total investment in these construction
projects is around US$11.63 million. It includes the construction of hotels,
shopping complexes, office buildings and more. Furthermore, the government of
China approved 695 building and construction projects with a total investment
of 3 trillion yuan (US$471 billion) in January 2022.
In this way, an increase in such new building and construction projects in multiple countries across the region is expected to increase the demand for vinylon tubes for use in roofs, staircases, balconies, railings, beams and other components of the building structure. This is anticipated to propel the growth of the market during the forecast period.
Vinylon Tube Market Drivers
An increase in construction activities
Construction
activities are considered to be the pillar of growth for a country and also
play a major role in increasing the overall global economy. The factors such as
urbanization and the rapid pace of development to aid the economic growth of
the countries are driving the construction activities in multiple regions
across the world. For instance, according to Volvo CE, the construction sector
saw an increase in construction activities across multiple regions since the
fourth quarter of 2020. South America saw an increase of 12%, Asia by 39%,
Europe by 20% and China by 28% in 2020. Furthermore, YIT Corporation commenced
the construction of numerous residential apartment building projects in
Finland, the CEE countries and Russia in December 2021, with total investments
of around EUR 200 million (US$236.5 million). The projects are scheduled to be
completed by the end of 2023.
The
properties of vinylon tubes such as low elongation, excellent resistance to
extreme weather, chemical and UV rays along with high strength, durability and
modulus make them ideal for use in the construction of roofs,
staircases, balconies, railings, beams and other components of the building
structure. Hence, an increase in global construction
activities is expected to increase the demand for vinylon tubes, owing to its
above-mentioned properties. This is anticipated to drive the growth of the
market in the upcoming years.
Surging demand from the automotive industry
Vinylon Tube composed
of polyvinyl alcohol, anthracite and limestone is primarily used in the
automotive industry for applications involving car suspension systems,
components of engine and transmission, along with components of body and
chassis and other similar applications. The properties of vinylon tubes such as
high strength, durability and modulus, along with low elongation and excellent
resistance to extreme weather, chemical and UV rays make them ideal for use in
such automotive applications. For instance, according to a recent study published
by the German Association of Automotive Industry during the fourth quarter of
2020, the new registration of motor vehicles reached 16,763 units in
Europe, 37,467 units in Asia, 3080 units in South America, 17,421 units in
North America, 12,733 units in Western Europe and 5180 units in other regions
worldwide. Moreover, according to the International Organization of Motor
Vehicle Manufacturers (OICA), the production of heavy-duty vehicles in Europe
reached 3,08,300 units in 2021, an increase of 31% in comparison to 2,36,328
units in 2020. It further states that the total automobile production in 2021
in Europe, America, Asia and Africa increased by 25%, 17%, 28% and 37%
respectively in comparison to 2020. Hence, an increase in global automotive production
is expected to increase the demand for vinylon tubes for use in various
components of an automobile, owing to its above-mentioned properties. This is
expected to accelerate the growth of the vinylon tube market in the upcoming
years.
Vinylon Tube Market Challenge
Fluctuating prices of raw materials
Some of the raw
materials required for the production of vinylon tubes are obtained from crude
oil. As a result, fluctuations in the prices of crude oil may hinder the growth
of the market. For instance, in 2020, the international benchmark for petroleum
prices across the world also known as Brent crude prices decreased to US$9.12
per barrel, which was the lowest record since December 10, 1998. Likewise, in
April 2020, India’s Crude Oil Basket (COB) reached US$19.90 per barrel, which
was the lowest record since February 2002. During the first 11 months of the
year 2020-21, the average annual price of India’s COB was around US$42.72 per
barrel, which decreased by 30% more than the average COB price in 2019-20.
Furthermore, as per revised estimates for 2020-21, the COB has increased by
around 35% from its initial budget estimate. In this way, such uncertainty
regarding the price of crude oil may affect the prices of raw materials that
are used in the production of vinylon tubes. Thus, such instability and
fluctuating prices of raw materials may limit the growth of the vinylon tube
industry during the forecast period.
Vinylon Tube Industry Outlook
Technology launches, acquisitions and increased R&D activities are
key strategies adopted by players in the Vinylon
Tube Market. The top 10 companies in the Vinylon Tube Market are:
- Nippon Vinylon Co. Ltd.
- KSeng Seng
- Rusli Vinilon Sakti
- Dezhou Huatai Co. Ltd.
- Wuhan Daxin Co. Ltd.
- Cangzhou Zhonghai Co. Ltd.
- Shandong Bowen Co. Ltd.
- Cangzhou Zhongyu Co. Ltd.
- Cangzhou Zhongchuang Co. Ltd.
- Cangzhou Huaxin Co. Ltd.
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LIST OF TABLES
1.Global Vinylon Tube Market, by Type Market 2023-2030 ($M)2.Global Vinylon Tube Market Analysis and Forecast by Type and Application Market 2023-2030 ($M)
3.Global Vinylon Tube Market, by Type Market 2023-2030 (Volume/Units)
4.Global Vinylon Tube Market Analysis and Forecast by Type and Application Market 2023-2030 (Volume/Units)
5.North America Vinylon Tube Market, by Type Market 2023-2030 ($M)
6.North America Vinylon Tube Market Analysis and Forecast by Type and Application Market 2023-2030 ($M)
7.South America Vinylon Tube Market, by Type Market 2023-2030 ($M)
8.South America Vinylon Tube Market Analysis and Forecast by Type and Application Market 2023-2030 ($M)
9.Europe Vinylon Tube Market, by Type Market 2023-2030 ($M)
10.Europe Vinylon Tube Market Analysis and Forecast by Type and Application Market 2023-2030 ($M)
11.APAC Vinylon Tube Market, by Type Market 2023-2030 ($M)
12.APAC Vinylon Tube Market Analysis and Forecast by Type and Application Market 2023-2030 ($M)
13.MENA Vinylon Tube Market, by Type Market 2023-2030 ($M)
14.MENA Vinylon Tube Market Analysis and Forecast by Type and Application Market 2023-2030 ($M)