Market Trends of Polyvinyl Chloride Membranes Industry
This section covers the major market trends shaping the Polyvinyl Chloride Membranes Market according to our research experts:
Building and Construction Industry to Dominate the Market
- Building and construction segment stand to be the dominating segment owing to the growing application of polyvinyl chloride membranes in the building and construction industry.
- Polyvinyl chloride membranes are considered safe for use in building and public facilities because they exhibit properties such as low combustibility, slow-burning, and extinguish when the source of flames is removed.
- The global market for polyvinyl chloride membranes witnessing significant gains over the past years owing to increasing demand for applications such as waterproofing sheets, roofing, flooring, and protective coatings employed in residential and commercial buildings.
- The expansion of the global building and construction industry due to increasing infrastructure spending in the Asia-Pacific region is expected to drive the polyvinyl chloride membranes industry mainly in India and China over the forecast period.
- Asia-Pacific countries like China, India etc dominates the building and construction industry across the world and is expected to record a CAGR of 7.6% to reach more than USD 3 billion by 2024.
- All the aforementioned factors are expected to drive the polyvinyl chloride membranes market during the forecast period.
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Asia-Pacific Region to Dominate the Market
- Due to robust demand from the building and construction, packaging, and consumer electronics, particularly in emerging countries such as India and China, the Asia-Pacific market is expected to be the largest and fastest-growing market over the forecast period.
- Polyvinyl chloride membrane is widely utilized in the packaging industry and the Asia-Pacific packaging industry is rising at a faster pace due to its advantages, such as simple handling, portable packaging, and lightweight.
- The Asia-Pacific packaging market is projected to grow at a CAGR of 6.00% during the period of 2020-2025.
- The electronics manufacturing industry is continually moving to the Asia-Pacific region, as a result of low cost and increasing demand for electronics products. Growing household income in the region has led to an increasing demand for electronic products.
- Hence, all such market trends are expected to drive the demand for polyvinyl chloride membranes market in the region during the forecast period.
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