How India PVC Emulsion Market is Positioned?
Overview: The overall PVC resin market in India stood ~ KT in FY’2019 on the basis of demand. Out of this, the PVC emulsion/paste accounted for ~ KT in FY’2019. The PVC Emulsion/Paste demand has significantly growth over the review period despite accounting for very less share in the overall PVC resin market. PVC paste is manufactured using the emulsion or dispersion polymerization process which is not as widely employed as the suspension process in the country. Emulsion polymerization results in PVC resin with very fine particle size and has varied applications in the modern day. The raw material used of manufacturing PVC paste that is, EDC & VCM, are majorly imported and the fluctuation in their prices affect the domestic PVC paste prices.
Market: The industry witnessed significant growth over the review period FY’2014-FY’2020(P) with a CAGR of ~% on the basis of demand and ~% on the basis of revenue. The average domestic selling price was observed to be around ~ INR per KT. Over the review period, the share of imports in the industry has significantly increased and accounted for ~% of the total domestic demand in FY’2019. Top 5 countries for imports in India include South Korea, Columbia, Taiwan, Japan and China on the basis of import value. The growth of end-user industries especially synthetic leather and number of applications of PVC paste has driven the industry over the review period.
India PVC Emulsion Market Segmentation
By Production: The imported PVC emulsion/paste dominated the domestic industry in FY’2020(P) due to limited local manufacturing capacity and consistently rising demand. The domestic production capacity has been stagnant with no new capacity addition in the recent years.
By End-Users (Domestic Volume): The artificial leather industry was analyzed to be the largest end-user for PVC emulsion in India in FY’2019. The demand from vinyl flooring and films & sheets industry has also increased in the recent years for top and base coating. Demand from other end-users such as coir mats, adhesives & sealants, conveyor belts and more has also increased significantly over the review period.
By End-Users (Import Volume): Majority of the imported PVC emulsion/paste is demanded by the synthetic leather industry due to the large volumes required by the industry. Other end-users such as printing ink, toys, coir mats and conveyor belts have also accounted for significant consumption of imported PVC paste.
Blending PVC Resin Market
The review period also witnessed growth in the import of blending PVC resins including both copolymers & homopolymers. Germany, Belgium, US & Mexico were identified to be the major exporters of blending resins to India.
Competitive Scenario in India PVC Emulsion Market
The competition in the industry is concentrated with only two players namely Finolex Industries and Chemplast Sanmar, operating in the market with manufacturing capacity of ~ KT and ~ KT respectively. The players compete on the basis of parameters such as price, grades offered, distribution network, clientele, end-user industries catered and more.
India PVC Emulsion Industry Future Outlook and Projections
The PVC Emulsion industry is India is expected to grow at a CAGR of ~% by FY’2025 on the basis of demand and ~% CAGR on the basis of domestic production volume. After momentary decline in the industry due to Covid-19 pandemic, the industry is expected to recover soon with production in end-user industries returning to normalcy. Imports of PVC emulsion/paste into the country are also expected to grow in the coming years to meet the domestic demand. It is anticipated that the industry will witness growth due to increasing government initiatives to boost domestic production and growing demand from end-user industries particularly synthetic leather, coir mats & automotive industry. The industry is also expected to witness increase in domestic production capacity in the coming years.
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
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