PVCEmulsion Market: Introduction
TransparencyMarket Research delivers key insights on the global PVC emulsionmarket. In terms of revenue, the global PVC emulsion market isestimated to expand at a CAGR of ~4% during theforecast period, owing to numerous factors regarding which TMR offers thoroughinsights and forecasts in its report on the global PVC emulsion market.
The globalPVC emulsion market is broadly affected by several factors such asimport-export data of flooring & wall covering, PVC production by region,synthetic leather production, construction industry growth, and GDP growth ofrespective countries considered in the study. Thus, rise in application of PVCemulsion in different sectors is propelling the global PVC emulsion market.Furthermore, we have excluded micro-suspension-based PVC emulsion from thescope of our study. The market studied is purely for emulsion-based PVC.
PVC Emulsion Market: Dynamics
PVC resinproduced by the emulsion polymerization process is known as PVCemulsion/emulsion grade PVC or paste PVC. Emulsion polymerization is a form ofpolymerization that occurs in an emulsion. Emulsion polymerization is thesecond-most used polymerization technique. It produces PVC grains, which are 100 timessmaller (0.1-3.0 µm)than suspension PVC grain. Around 10% of the PVCresin across the globe is produced by the emulsion polymerization process.
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Emulsiongrade PVC/ paste grade PVC is primarily used in manufacture of plastisol.Manufacture of PVC emulsion entails much more energy and cost than suspensionresin. Essential components involved in emulsion polymerization of PVC includewater, VCM (vinyl chloride monomer), catalyst (water soluble peroxidase andpersulfates), and surfactants (alkyl sulfates, alkyl sulfonates,alkylbenzenesulfonates, dialkyl sulfosuccinates, alkyl ethoxysulfates, fattyacid soaps, etc.)
PVCEmulsion Market: Prominent Regions
AsiaPacific dominated the global PVC emulsion market with more than 40%share in 2019. This trend is anticipated to continue during the forecastperiod. The rise in demand for PVC emulsion in the formulation of syntheticleather is likely to drive the PVC emulsion market in the near future.Synthetic leather is used in buses, trucks, cars, and motorcycles, as it ishighly elastic, comfortable, and resistant to high as well as low temperatures.Automotive vehicle owners are investing significantly in synthetic leatherinteriors to enhance the appearance of their cars as well as their drivingexperience. Traditional leather is expensive to use as automotive interiors.Significant amount of leather is used in automotive interior. The consumptionof PVC emulsion is primarily based on production of automotive vehicles. PVCemulsion-based synthetic leather is also used in the footwear industry, owingto its wear-resistant property and soft texture. Rise in disposable income,wide range of applications, and low price of PVC emulsion-based leatherproducts compared to its alternatives are likely to propel the PVC emulsionmarket in Asia Pacific.
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PVC Emulsion Market: Key Players
The globalPVC emulsion market was highly consolidated in 2019. The top four players —Vinnolit GmbH & Co. KG, VESTOLIT GmbH (Mexichem), Kem One, and LG Chem —cumulatively accounted for more than 40% share of theglobal PVC emulsion market in the year.
VinnolitGmbH & Co KG is a subsidiary of the Westlake Group, which is oneof the largest manufacturers of PVC in Europe. The company has six productionfacilities located in Gendorf, Burghausen, Cologne, Knapsack, and Schkopau inGermany; and Hillhouse in the U.K. The company possesses combined annualcapacity of 780,000 tons of PVC, includingemulsion grade and suspension grade PVC. Additionally, it produces 665,000 tonsof vinyl chloride monomer (VCM) and 475,000 tonsof membrane-grade caustic soda per annum.
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