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:-
India
Coupling Agents & Compatibilizers Market Outlook to 2023 - By Application
(Packaging & Plastics Industry, Automotives Industry, Adhesives &
Sealants and Paints & Coatings, Rubber Industry, Energy Sector and Others)
and by Coupling Agents (Maleic Anhydride Grafted Polymers, Silane Coupling
Agents and Others)
Contact
Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
+91-9015378249
