Market Players to Address Sustainability Challenges Linked to PVC in Upcoming Years
The PVC emulsion market is expected to witness considerable growth in the upcoming years, owing to widening applications of PVC across a range of industrial domains. The growing adoption of emulsion polymerization process at industrial and academic scale in recent years is expected to provide considerable boost to the PVC emulsion market during the forecast period. PVC emulsion polymers are being extensively used in a range of applications, including thermoplastics, rubbers, binders, adhesives, and coatings– a factor that is likely to propel the PVC emulsion market during the assessment period.
At present, the increasing demand for polyvinyl chloride products is anticipated to play an imperative role in shaping the growth of the global PVC emulsion market during the forecast period. Research and development activities are set to play a vital role in bolstering the growth of the market for PVC emulsion in the upcoming years, as market players continue to improve their market position. The booming automotive sector in developing regions, including Latin America and Asia Pacific is likely to provide considerable opportunities to the players involved in the PVC emulsion market.
While the automotive sector is likely to open up new growth avenues, the healthcare sector is expected to emerge as a prominent end-use sector due to which, the global PVC emulsion market is projected to witness steady growth in the near future. As a result of these factors, along with the growing emphasis on the development of environment-friendly PVC emulsion products, the global PVC emulsion market is expected to surpass the US$ 3.6 Bn mark by the end of 2030.
High Demand from Numerous End-use Sectors to Aid Market Growth
The surge in the demand for PVC emulsion from a range of industrial sectors for various applications is expected to augment the global PVC emulsion market. Prominent end-use sectors include healthcare, automotive, and construction. On the global scale, PVC is the fifth most highly manufactured plastic, and as per current observations, the trend is anticipated to continue in the upcoming years. The construction sector is likely to provide abundant opportunities to the players and stakeholders involved in the current PVC emulsion market landscape due to consistent rise in the demand for PVC flooring across the world. Moreover, as governments across both developing as well as the underdeveloped regions emphasize on urban and industrial development, the number of construction projects have witnessed an exponential growth in recent years. Thus, the demand for PVC emulsion products is growing.
In the healthcare sector, PVC is used as PVC-based IV bags, urine bags, blood bags, catheters, and disposable gloves. Rising concerns pertaining to the toxicity of chlorine and monomer production are projected to hamper the growth of the global PVC emulsion market during the assessment period.
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Market Players to Address Supply Chain Challenges amid Ongoing COVID-19 Pandemic
The onset of the COVID-19 pandemic has affected operations and growth of nearly all major core industrial sectors, including automotive, construction, and oil & gas. Stringent restrictions on cross-border trade, temporary shutdown of the industrial sector in major manufacturing hubs of PVC, and fluctuating economy of the market are some of the key factors anticipated to negatively impact the global PVC emulsion market in 2023. Furthermore, a significant decline in the demand for PVC-based products from nearly all major industries is another reason for the slow down of the global PVC emulsion market in 2023. Restrictions on trade and transportation followed by the suspension of major freight carriers during the second and the third quarter of 2023 have resulted in major hurdles across the supply chain. Due to this, the players involved in the current PVC emulsion market landscape are expected to address these challenges in the upcoming months.
PVC Emulsion Market: Overview
- According to Transparency Market Research’s latest research report on the global PVC emulsion market for the base year 2019 and the forecast period 2023 to 2030, rise in construction activities across the globe is likely to boost the demand for PVC emulsion during the forecast period
- In terms of revenue, the global PVC emulsion market is estimated to cross US$ 3.6 Bn by 2030, expanding at a CAGR of ~4% during the forecast period