Showing posts with label India PVC Emulsion Market Trends. Show all posts
Showing posts with label India PVC Emulsion Market Trends. Show all posts

Monday, June 29, 2020

Increasing Number of Applications and Demand from the Artificial Leather Industry are Stimulating the Demand for PVC Emulsion in India: Ken Research


Rising Number of Applications: In the past few years, consumption of PVC emulsion has increased in a plethora of end-use applications such as for manufacturing synthetic leather, vinyl flooring and wall coverings, coir mats, gloves, toys, printing ink and many more. The artificial leather industry reached ~INR 61 billion in 2019 and was analyzed to be the largest user of PVC emulsion in India.

Rising Imports: The lack of new domestic manufacturing capacity addition and consistent rise in consumption has led to a significant rise in the imports of PVC emulsion/paste into the country over the review period. South Korea, Colombia Taiwan, Japan, China are among the top exporting countries for PVC emulsion imports in India. The price of imported PVC emulsion and raw materials including EDC & VCM impact the domestic prices of PVC emulsion/paste.

Growth of Automotive Industry: The total automobile production in India reached ~2.6 crore units in FY’2020. The automotive industry is a large consumer of PVC emulsion which is used to manufacture adhesives, sealants and synthetic leather upholstery. The growth of the automotive industry in the country has stimulated the rise in the demand for PVC emulsion.

Impact of Covid-19: The PVC Emulsion industry in India is expected to witness decline in FY’2021 due to the imposed lockdown in the first quarter of the year & halt in production activity, sales and logistics during the period. The temporary shutdown of end-user manufacturing facilities in the first quarter of the year is also impacting demand. The pandemic has also brought global trade to a standstill which would ultimately impact the industry as a significant proportion of the domestic demand is catered through imports. However, the industry is expected to witness steady recovery in the following financial year with manufacturing activities and trade resuming. The domestic producers also have the opportunity to increase production and garner greater market share in the absence of imports.

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, adhesives & sealants & 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

For More Information on the research report, refer to below link:-

Related Reports:-


Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
+91-9015378249


India PVC Emulsion Market Outlook to 2025: Ken Research

The report titled India PVC Emulsion Market Outlook to 2025-Rising Consumption in Artificial Leather and Usage in Toy Manufacturing to Elevate Demandprovides a comprehensive analysis of the current positioning of the PVC emulsion/paste industry in India. The report covers various aspects including the market size, ecosystem & value chain analysis, end-user analysis, import-export scenario, trends and roadblocks faced by the industry. The report concludes with market projections for future of the PVC Emulsion industry in India including forecasted industry size by revenue and domestic demand by FY’2025 and segmentations and the analysts’ take on the future.

India PVC Emulsion Market Overview and Size
The Indian PVC Emulsion market is a major contributor to the growth of various key end-user sectors in the country. While suspension PVC dominates the Indian PVC resin industry, PVC emulsion/paste has witnessed significant growth in demand in the recent years. Both emulsion and micro-suspension processes of manufacturing PVC paste are prevalent in India. The PVC Emulsion/Paste industry in India in terms of demand in metric tons has grown at a CAGR of 7.8% over the period FY’2014-FY’2020(P). A large number of end-user industries such as artificial leather, flooring, coir mats, adhesives and sealants, conveyor belts among others have driven the demand for PVC paste in India. The domestic demand is catered by both imports as well as domestic production. The government is recently making efforts to stimulate domestic production in the country which is expected to positively impact the industry.

India PVC Emulsion Market Segmentations:
Production: The domestic demand for PVC emulsion is met by both imports and domestic production. The domestic production capacity is stagnant since the last few years which have led to the rise in imports into the country. In FY’2019, the top five countries South Korea, Columbia, Taiwan, Japan and China accounted for ~68.0% of the total import on the basis of value of imports.

End-Users (Domestic Volume): The synthetic leather industry was analyzed to be the largest end-user of PVC emulsion in India in FY’2020(P). The synthetic leather industry was valued at ~INR 61 billion in 2019. Flooring, films & sheets, coir mats, adhesives & sealants and other industries have also contributed to the rising demand in the country as PVC paste it helps in imparting different properties in terms of color, texture and opacity to end-product. PVC emulsion is majorly used for top and base coating in majority of these applications such as synthetic leather, flooring, conveyor belts and more.

End-Users (Import Volume): Synthetic leather accounted for majority of the imported PVC paste/emulsion consumption due to the large volumes required. There is growing demand for synthetic leather, particularly in the automotive industry for upholstery. Many large companies operating in the sector also export huge volumes of synthetic leather. In the recent years, the demand for PVC emulsion/paste by industries such as printing ink, toys, coir mats, conveyor belts & more has also increased significantly. Many coir mats & conveyor belt companies engaged in exports, directly import PVC emulsion/paste from countries such as Korea, Taiwan, China, Thailand & Germany among others.

Competition Scenario
The competition in the market is concentrated with only two players namely, Finolex Industries and Chemplast Sanmar, having domestic manufacturing capabilities. Both of these companies together cater almost half of the total domestic demand. These companies compete on the basis of parameters such as prices, grades offered, clientele, distribution network and end-users catered.

Future Outlook and Projections
The industry is expected to witness significant growth in terms of demand by FY’2025 with increasing number of applications of PVC paste and growth of end-user industries such as synthetic leather and automotive industry. The impetus of the government to proliferate domestic production by removing import duty on EDC import, increasing import duty on PVC from 7.5% to 10% and finished PVC products such as vinyl flooring from 10% to 15% is expected to positively impact the market in the future. Increasing demand for PVC emulsion for manufacturing coir mats, adhesives & sealants and conveyer belts among other products is further expected to stimulate industry growth.

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

For More Information on the research report, refer to below link:-

Related Reports:-



Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
+91-9015378249