Rising Imports and Government Impetus to Boost Domestic Manufacturing will propel the Growth of PVC Emulsion Industry in India: Ken Research

Government initiatives to boost domestic manufacturing include increase in the import duty on the import of PVC from 7.5% to 10% under the Budget 2019-2020. The import duty on final products such as vinyl flooring from 10% to 15% is an effort to promote domestic production.

Chemplast Sanmar plans to increase its PVC paste production capacity by 70 KT within Tamil Nadu in the future in two phases, recognizing the immense potential for the polymer in the country.

The growth of end-user industries particularly artificial leather, coir mats and adhesives & sealants are expected to drive the demand for PVC emulsion in the country in the future.

Cheaper Raw Material: Under the Union Budget 2019-2020, the government reduced the import of Ethylene Dichloride (EDC), which is one of the major raw materials for PVC emulsion production, form 2.5% to zero. This is in an effort to reduce cost of manufacturing and to give a push to domestic production.

Changing Consumer Preferences: Consumers these days demand a huge variety in terms of colors, designs and more in products such as flooring, wall covering, fabrics and more. The use of PVC emulsion while manufacturing these products makes it possible to impart unique properties such as color, gloss, design and opacity and offer diversity. There is also a rising shift away from traditional rubber backed coir mats and rubber conveyor belts towards PVC backed coir mats and PVC conveyor belts due to the various desirable properties of PVC emulsion/paste.

For More Information on the research report, refer to below link:-
https://www.kenresearch.com/metal-mining-and-chemicals/chemicals/india-pvc-emulsion-market-outlook-to-2025/342039-101.html

Future Challenges in PVC Emulsion Industry: The raw material used for production of PVC emulsion namely, EDC and VCM, are majorly imported into the country and fluctuation in their prices would affect the domestic prices and production process. There is also a shift towards sustainable and eco-friendly products. PVC products are non-biodegradable and add to the global waste problem, which is expected to negatively impact the industry.

Plummeting Demand in Light of Covid-19 Outbreak: PVC Emulsion production and demand has come to a standstill in the first quarter of FY’2021 owing to the imposed lockdown and social distancing norms. The industry will be affected by the halt in global trade as a significant proportion of the domestic demand is met through imports. The effect of the pandemic is expected to be seen well throughout the year owing to the global economic slowdown and decline in demand. Steady recovery is expected post the current black swan event with manufacturing in end-user industries returning to normalcy.

Analysts at Ken Research in their latest publication "India PVC Emulsion Industry Outlook to FY’2025- Rising Consumption in Artificial Leather and Usage in Toy Manufacturing to Elevate Demand" observed that the increasing consumption of PVC paste/emulsion by various industries such as artificial leather, coir mats, vinyl flooring & wall covering is propelling the demand for PVC emulsion. Reduction in custom duty on raw material import, government impetus to boost domestic manufacturing and growth of end-user industries is expected to drive the demand in the industry in the future. The India PVC Emulsion industry in terms of demand is expected to grow at a CAGR of 8.0% during the period FY’2020(P) – FY’2025.

Key Segments Covered:-
By Production
Import
Domestic

By End-Users (Domestic Volume)
Synthetic Leather
Flooring
Films and Sheets
Coir Mats
Adhesives & Sealants
Conveyor Belts
Wall Coverings
Others

By End-Users (Import Volume)
Synthetic Leather
Printing Ink
Toys
Coir Mats
Conveyor Belts
Others

Companies Covered:-
Finolex Industries Limited
Chemplast Sanmar Limited

Key Target Audience:-
PVC Emulsion Companies
PVC Paste Companies
PVC Suspension Companies
PVC Emulsion/Paste Importers

Time Period Captured in the Report:-
Historical Period: FY’2014 - FY’2020(P)
Forecast Period: FY’2020(P) - FY’2025

Key Topics Covered in the Report:-
India PVC Emulsion Market Overview
PVC Emulsion Value Chain Analysis and Manufacturing Processes
India PVC Emulsion Market Size on the Basis of Domestic Demand, Production Capacity, Volume and Revenue, FY’2014-FY’2020(P)
India PVC Emulsion Market Segmentations, FY’2020(P)
End-User Analysis
Trends & Developments, Issues & Challenges and Governments Regulations in the Industry
Trade Scenario in India PVC Emulsion Industry
SWOT Analysis
PVC Emulsion/Paste Grades in India and Competitiveness
Competition Scenario and Company Profiles of Major Companies
Future Outlook and Projections for India PVC Emulsion Industry including Market Size and Segmentations, FY’2025
Analyst Recommendations

Related Reports:-
https://www.kenresearch.com/metal-mining-and-chemicals/chemicals/india-coupling-agents-compatibilizers-market/175027-101.html

https://www.kenresearch.com/manufacturing-and-construction/machinery-and-parts/indonesia-plastic-pipes-and-fittings/321672-97.html

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Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249

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