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PVC Emulsion Market Drivers, Key Players, Share, Market Size And Forecast To 2033
PVC Emulsion Market
According to The Business Research Company's, The pvc emulsion market size has grown strongly in recent years. It will grow from $3.12 billion in 2023 to $3.28 billion in 2024 at a compound annual growth rate (CAGR) of 5.0%. The growth in the historic period can be attributed to advancements in polymer chemistry, cost-effectiveness of pvc emulsion compounds, application in niche markets, advantages in noise reduction, stability and durability properties..
The pvc emulsion market size is expected to see strong growth in the next few years. It will grow to $4.01 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%. The growth in the forecast period can be attributed to regulatory compliance and standards, increased focus on sustainable practices, global shift towards electric vehicles, expansion of urban mobility solutions, global events and supply chain dynamics.. Major trends in the forecast period include advancements in pvc emulsion technology, customization and design innovation, smart tire technologies, tire recycling initiatives, technological integration in manufacturing, collaborations and partnerships..
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Market Drivers and Trends:
The expansion in the construction sector is significantly contributing to the growth of the PVC emulsion market going forward. The construction sector refers to the sector involved in production and trade that focuses on creating, maintaining, and repairing infrastructure. PVC emulsions in construction are used in the coating of construction materials to provide a barrier to oxygen, moisture, and anti-corrosion properties. Additionally, it is utilized in the production of false ceilings due it its flexibility, conducive bending, and lightweight properties. For instance, in September 2022, according to Zippia, a US-based online recruitment service provider, approximately 1,337,800 new housing units were completed in 2021, a 4% increase from 2020 in the US. Moreover, the construction of residential buildings grew from 12,00,000 in 2019 to 13,81,000 in 2020 a 15.08 percent increase. Therefore, expansion in the construction sector is driving the growth of the PVC emulsion market.
Product innovation is the key trend gaining popularity in the PVC emulsion market. Major companies operating in the PVC emulsion market are focused on innovative products to sustain their position. For instance, in October 2022, Westlake Vinnolit, a Germany-based company operating in polyvinyl chloride resins introduced GreenVin PVC, a bio-attributed PVC based on renewable ethylene. GreenVin® bio-attributed PVC is created using renewable electricity and renewable ethylene from biomass. Additionally, GreenVin bio-attributed PVC releases 90% less CO2 during production as compared to traditionally produced Vinnolit PVC.
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Major Key Players of the Market:
Chemplast Sanmar Limited; Finolex Industries Limited; SCG Chemicals Co Ltd.; Kaneka Corporation; Formosa Plastics Corporation; VESTOLIT GmbH & Co KG; Vinnolit GmbH & Company KG; LG Chem Ltd.; RusVinyl LLC; Vinythai Public Company Limited; Nissin Chemical Industry Co Ltd.; Suzhou Zhengbang Chemical Fiber Co Ltd; Mexichem SAB; INEOS Group Limited; Solvay SA; Arkema SA; Asahi Kasei Corporation; BASF SE; Celanese Corporation; China General Plastics Corporation; Dow Chemical Company; DuPont de Nemours Inc.; Eastman Chemical Company; Ercros SA; Evonik Industries AG; OxyVinyls LP; Hanwha Chemical Corporation; INOVYN ChlorVinyls Limited; Kaneka Corporation; KEM ONE SAS
PVC Emulsion Market 2024 Key Insights:
• The pvc emulsion market will grow to $4.01 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%.
• Rise Of Construction Industry To Drive Market Growth
• Product Innovations Transforming The Pvc Emulsion Market
• North America was the largest region in the PVC emulsion market in 2023
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