Paste PVC Flooring Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2026
- Transparency Market Research
Paste PVCs are special polyvinyl chlorides manufactured by a distinct hybrid technology that exploits the illustrious properties of two conventional manufacturing processes. Paste PVC flooring is an inexpensive flooring type that is used extensively around the globe. Its inexpensiveness has made PVC a highly profitable compound in the chemical industry, in terms of revenue. Polyvinyl chloride (PVC) or vinyl is a synthetic material, which is manufactured by combining chlorine with ethylene. PVC flooring acts as a cost-effective substitute to natural floors such as wood, ceramic, and marble. Complex and 3D designs are easier to make with PVC, as it is cost-effective. PVC floors are often given a top coat that prevents the buildup of dust and dirt, making the floor sterile. Paste PVC flooring is installed by spreading adhesive on the construction floor, on top of which the PVC flooring is laid flat. Continuous developments in the paste PVC is not only boosting the paste PVC flooring market, but it is also serving as a boon to construction, architecture and other industries. Paste PVC is considered to be highly affordable, long lasting, and easy to use material in the construction of flooring. The affordable cost along with complex designs and durability is a major advantage of the paste PVC flooring.
The paste PVC flooring market is expected to witness considerable expansion during the forecast period. Expansion of residential housing construction markets and the rise in reconstruction activities are key factors driving of the paste PVC flooring market. Increasing standard of living and rise of urbanization are also boosting the paste PVC flooring market. PVC flooring offers better aesthetics and functionality, resistance to water, fire, and sound reduction is an additional driver for the PVC flooring market. Furthermore, it is easy to clean and easy to install in a budget-friendly nature. A major restraint of the paste PVC flooring market is the durability of the material, as compared to other materials such as wood and marble. Another challenge for PVC flooring is the process to make the sub-floor, while maintaining the quality standards to install the PVC layer. Finally, volatile organic compounds are emitted during the installation of PVC, inhaling which is not recommended. However, paste PVC manufacturing companies are trying to avoid the usage of such chemicals and are finding substitutes for them.
The paste PVC flooring market can be segmented based on type, industry, viscosity, grading, and geographical region. Based on type, the paste PVC flooring market can be classified into cushion flooring, vinyl tile, and others. In terms of industry, the paste PVC flooring market can be divided into residential, commercial, and others. The commercial segment is expected to hold a prominent share of the market, in terms of value. Increasing demand for PVC flooring in hospitals, offices, hotels, and educational institutes is expected to boost the segment during the forecast period. Based on viscosity, the market can be divided into high, medium, low, and vinyl acetate. In terms of grading, the paste PVC flooring market can be bifurcated into micro suspension method and emulsion. Based on region, the paste PVC flooring market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America. The market in Asia Pacific is anticipated to expand at a significant growth rate owing to the expansion of the construction industry and rise in the awareness of products, such as polyvinyl chloride and other synthetic products. Moreover, the rise in population offers a potential for growth of new housing, leading to the expansion of the paste PVC flooring market. The paste PVC flooring market in North America is also estimated to expand at a considerable pace due to the recovery of the U.S. economy.
Key players operating in the global paste PVC flooring market include Kaneka, KEM ONE, Shanghai Chlor-Alkali Chemical, Mexichem, LG Chemical, Thai Plastic and Chemicals, Formosa Plastics Corp, Shenyang Chemical, Saudi Basic Industries, Solvay, Hanwha, INEOS, Tianjin Bohai Chemical, CNSG Anhui Hong Sifang, Mohawk Industries, Inc., and Tarkett, and Shaw Industries, Inc. Manufacturers of paste PVC are consistently working on newer and safer chemical solutions for manufacturing polyvinyl chloride PVC and also striving for better installation methods. The new chemical developments are anticipated to make installation safer and easier, which in turn is expected to lead to an increase in the durability of the flooring. This in turn is estimated to boost the paste PVC flooring market.
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