August 03, 2023 07:30 ET | Source: Transparency Market Research Transparency Market Research
Albany, New York, UNITED STATES China Polycarbonate Sheets
Wilmington, Delaware, United States, Aug. 03, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global PVC foam sheet market was valued at US$ 28.9 Bn in 2022 and is projected to reach US$ 42.8 Bn by 2031.
Surge in popularity of lightweight packaging solutions in several industries is bolstering the demand for PVC foam sheets. High adoption rate of these sheets in the construction industry is ascribed to favorable features of PVC foams such as non-toxicity, dimensional accuracy, ease of installation, water resistance, and lightweight. Increase in adoption of PVC foam sheets by architects and interior designers is anticipated to broaden market outlook. Significant demand for PVC foam sheets in the signage and graphics sector presents substantial business opportunities for market players. Based on application, the furniture & interior design segment is projected to account for major market share during the forecast period.
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The business landscape is highly competitive, with small- and medium-sized players competing against large companies and among each other. Most key players are investing significantly in R&D activities and expanding product portfolio in order to increase market share.
Prominent companies in the PVC foam sheet market are:
3A Composites, Ecoste, Armacell International S.A., Potentech (Guangdong) Limited, Stadur Produktions GmbH & Co.KG, Regal Plastics, Acrypoly, Gilman Brothers, Biopac India Corporation, Emco Industrial Plastics, All-Foam Products Company, Acrylic House, Meghmani Group, and Kemron are key entities operating in this sector.
Significant Usage in Building & Construction Applications
PVC foam sheets are extensively utilized in the building & construction industry due to numerous performance characteristics such as high impact resistance and durability. Widespread utilization of these in pipes, cables, window profiles, wall cladding, flooring, and roofing is anticipated to augment market development in the next few years. Additionally, PVC foam sheets are resistant to fire, UV rays, abrasion, and moisture; hence, these are preferred for building exteriors such as facades and exterior cladding. PVC foam sheets are also becoming popular in the construction industry due to their environmental benefits.
Increase in Adoption in Automotive Industry
Automotive is a lucrative end-use segment of the market. Increase in applications of PVC foams in a range of interior and exterior automotive parts is expected to augment market growth. PVC foam sheets are widely utilized in the making of HVAC ducting, tail lights & head lamps, door panels, and center high mounted stop light (CHMSL) gaskets. Rise in demand for automotive materials that reduce sound and vibrations in vehicles is a key factor anticipated to bolster adoption of PVC foam sheets in automotive components.
Key Growth Drivers of PVC Foam Sheet Market
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Asia Pacific is anticipated to account for the leading market share during the forecast period. South Korea, Japan, India, and Japan are significant markets in the region. Considerable rate of adoption of PVC foam sheets in automotive and building & construction applications is anticipated to propel the market in Asia Pacific. Increase in utilization of PVC foam sheets in building applications, such as cladding, roofing, and interior decoration, can be ascribed to favorable performance characteristics such as moldability, durability, and cost-effectiveness. Significant utilization of PVC foam sheets in furniture in developing countries is driving sales in the region.
The global PVC foam sheet market is segmented based on
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