Emulsion PVC Market size is expected to reach USD 50 billion by the end of 2036, growing at a CAGR of 7% during the forecast period i.e., 2024-2036. In the year 2023, the industry size of emulsion PVC was USD 6 billion. The growth of this market can be attributed to the escalating global population added up by the increasing demand for consumer goods among the population. Owing to its amazing water resistivity and cheap price emulsion PVC is used on a large scale in the production of consumer products such as sports components, toys, and stationary products. From an estimated 2.5 billion people in 1950, the world's population increased by 1 billion in 2010 and 2 billion since 1998, reaching a total of 8.1 billion by mid-November 2022.
Furthermore, increasing demand for synthetic leather in multiple end-use sectors for example in the automotive, and textile industries are supporting lucrative growth opportunities for the emulsion PVC market in the projected period. Additionally, emulsion PVC is widely utilized in the manufacturing of cushions, seat covers, and jackets.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024 - 2036 |
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CAGR |
~7% |
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Base Year Market Size |
~USD 6 billion |
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Forecast Year Market Size |
~USD 50 billion |
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Regional Scope |
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Application (Toys, Gloves, Synthetic Leather, Electrical Cables, Sports Equipment, Stationary)
Based on application, the synthetic leather segment is predicted to account for 30% share of the global emulsion PVC market by the end of 2036. PVC emulsion is widely used in the production of synthetic leather because of its superior qualities, which include flexibility, durability, and water resistance, which make it the perfect material for the job. Vinyl chloride monomer is the starting point for PVC emulsion, a particular kind of polymer that is created via emulsion polymerization. PVC emulsion is used as a coating substance to a fabric substrate in the production of synthetic leather, giving the material a feel and look like to that of real leather. PVC emulsion coating gives synthetic leather superior qualities including durability, water resistance, and abrasion resistance.
End Use (Construction, Automotive, Healthcare)
Based on end use, construction segment is predicted to account for 40% share of the global emulsion PVC market during the forecast period. The growth of the PVC emulsion market will be strongly supported by developments in the construction industry. The construction industry is composed of sectors that are involved in production and trade, which have an interest in building, maintaining, or improving infrastructure. To provide a barrier against oxygen, moisture, and anticorrosion properties, PVC in construction is used to coat building materials. In 2020, there was a 15.08 percent increase in the construction of residential buildings from 12,00,000 in 2019 to 13 81,000.
Our in-depth analysis of the global market includes the following segments:
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Product Grade |
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End Use |
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Application |
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APAC Market Forecasts
The emulsion PVC market in the Asia Pacific region is set to hold the largest revenue share of 35% during forecast period. In the Asia Pacific region, China has emerged as a leading supplier of emulsion PVC and is likely to maintain its position in the forecast period. The growth of the PVC emulsion industry in this country is supported by growing construction and automobile industries. The construction sector in China is expected to grow by 5% a year, according to the report. By 2023, and the country is increasingly focused on green buildings to support this growth. According to the report, China's National Green Building Council has laid down a standard of green building for government buildings such as hospitals, schools, museums, and sports venues. This is not only contributing to the construction industry's expansion but also giving rise to new possibilities for suppliers of emulsions PVC.
North American Market Statistics
The emulsion PVC market in the North America is predicted to grow substantially during the projected period. The growth of this market in the region can be primarily driven by the presence of established industries and growing technological advancement. Growing research and development are offering emulsion PVC with enhanced recyclability and eco-friendly manufacturing processes appealing to an expanding environmentally oriented market segment. Besides this, increasing advancement in emulsion PVC properties such as heat resistance, flame retardancy, and better performance is anticipated to boost the integration of emulsion PVC at various applications in multiple sectors in the region.
Author Credits: Smruti Ranjan, Rajrani Baghel
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