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India PVC Emulsion Market Outlook to 2025

Rising Consumption in Artificial Leather and Usage in Toy Manufacturing to Elevate Demand

Region:Asia

Author(s):Aashima Mendiratta

Product Code:KR996

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Published On

June 2020

Total pages

176

About the Report

The report titled “India PVC Emulsion Market Outlook to 2025-Rising Consumption in Artificial Leather and Usage in Toy Manufacturing to Elevate Demandprovides a comprehensive analysis of the current positioning of the PVC emulsion/paste industry in India. The report covers various aspects including the market size, ecosystem & value chain analysis, end-user analysis, import-export scenario, trends and roadblocks faced by the industry. The report concludes with market projections for future of the PVC Emulsion industry in India including forecasted industry size by revenue and domestic demand by FY’2025 and segmentations and the analysts’ take on the future.

India PVC Emulsion Market

India PVC Emulsion Market Overview and Size

The Indian PVC Emulsion market is a major contributor to the growth of various key end-user sectors in the country. While suspension PVC dominates the Indian PVC resin industry, PVC emulsion/paste has witnessed significant growth in demand in the recent years. Both emulsion and micro-suspension processes of manufacturing PVC paste are prevalent in India. The PVC Emulsion/Paste industry in India in terms of demand in metric tons has grown at a CAGR of 7.8% over the period FY’2014-FY’2020(P). A large number of end-user industries such as artificial leather, flooring, coir mats, adhesives and sealants, conveyor belts among others have driven the demand for PVC paste in India. The domestic demand is catered by both imports as well as domestic production. The government is recently making efforts to stimulate domestic production in the country which is expected to positively impact the industry.

India PVC Emulsion Market Segmentations:

Production:  The domestic demand for PVC emulsion is met by both imports and domestic production. The domestic production capacity is stagnant since the last few years which have led to the rise in imports into the country. In FY’2019, the top five countries South Korea, Columbia, Taiwan, Japan and China accounted for ~68.0% of the total import on the basis of value of imports.

End-Users (Domestic Volume): The synthetic leather industry was analyzed to be the largest end-user of PVC emulsion in India in FY’2020(P). The synthetic leather industry was valued at ~INR 61 billion in 2019. Flooring, films & sheets, coir mats, adhesives & sealants and other industries have also contributed to the rising demand in the country as PVC paste it helps in imparting different properties in terms of color, texture and opacity to end-product. PVC emulsion is majorly used for top and base coating in majority of these applications such as synthetic leather, flooring, conveyor belts and more.

End-Users (Import Volume): Synthetic leather accounted for majority of the imported PVC paste/emulsion consumption due to the large volumes required. There is growing demand for synthetic leather, particularly in the automotive industry for upholstery. Many large companies operating in the sector also export huge volumes of synthetic leather. In the recent years, the demand for PVC emulsion/paste by industries such as printing ink, toys, coir mats, conveyor belts & more has also increased significantly. Many coir mats & conveyor belt companies engaged in exports, directly import PVC emulsion/paste from countries such as Korea, Taiwan, China, Thailand & Germany among others.

Competition Scenario

The competition in the market is concentrated with only two players namely, Finolex Industries and Chemplast Sanmar, having domestic manufacturing capabilities. Both of these companies together cater almost half of the total domestic demand. These companies compete on the basis of parameters such as prices, grades offered, clientele, distribution network and end-users catered. 

Future Outlook and Projections

The industry is expected to witness significant growth in terms of demand by FY’2025 with increasing number of applications of PVC paste and growth of end-user industries such as synthetic leather and automotive industry. The impetus of the government to proliferate domestic production by removing import duty on EDC import, increasing import duty on PVC from 7.5% to 10% and finished PVC products such as vinyl flooring from 10% to 15% is expected to positively impact the market in the future. Increasing demand for PVC emulsion for manufacturing coir mats, adhesives & sealants and conveyer belts among other products is further expected to stimulate industry growth.  

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 

Products

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

Companies

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

Table of Contents

1. Executive Summary- 17

2.  Research Methodology- 19

2.1.Market Definitions- 19

2.2. Abbreviations- 20

2.3. Market Sizing and Modelling- 21

Consolidated Research Approach- 21

Market Sizing Approach- India PVC Emulsion Market 22

Sample Size Inclusion Table- 22

Variables (Dependent and Independent) 24

Multi Factor Based Sensitivity Model 24

Regression Matrix- 25

Limitations- 26

Final Conclusion- 27

3. Indian Scenario, Long Term Economics Forecast and PVC Market Expansion- 28

4. India PVC Emulsion Resin Market Overview-- 36

5. India PVC Emulsion Market Ecosystem-- 40

6. India PVC Emulsion Market Value Chain Analysis- 44

6.1. Value Chain Analysis- 44

6.2. PVC Emulsion Manufacturing Process- 45

7. India PVC Emulsion Market Size, FY’2014-FY’2020(P) 48

8. India PVC Emulsion Market Segmentation, FY’2020(P) 54

8.1. By Production (Domestic and Import), FY’2020(P) 54

8.2.  By End-Users- 56

8.2.1. End-Users-Domestic Volume (Synthetic Leather, Wall Coverings, Flooring, Films & Sheets, Coir Mats, Adhesives & Sealants, Conveyor Belts and Others), FY’2020 (P) 56

8.2.2. End Users- Imported Volume (Synthetic Leather, Printing Ink, Toys, Coir Mats, Conveyor Belts and Others) 58

Synthetic Leather Industry- 59

Major Players- 61

Wall Coverings Industry- 63

Major Players- 65

Flooring Industry- 66

Major Players- 67

Films and Sheets Industry- 68

Major Players- 70

Adhesives and Sealants Industry- 71

Major Players- 72

Conveyor Belt Industry- 73

Major Players- 74

Coir Mat Industry- 75

Major Players- 77

Toy Industry- 78

Printing Ink Industry- 80

Major Players- 81

9.  Applications of PVC Emulsion/Paste- 82

9.1.1. Synthetic Leather 82

9.1.2. Coir Mats (Tufting) 83

9.1.3. Flooring- 83

9.1.4.  Wall Coverings and Wallpapers- 84

9.1.5.Coated Fabrics- 85

9.1.6. Films & Sheets- 86

9.1.7.  Automotive Interiors- 87

9.1.8. Other Applications- 88

10. Trends and Developments in India PVC Emulsion Market 91

Growth of Real Estate Housing Sector 91

Increasing Usage in Toy Manufacturing- 92

Rising consumption in Artificial Leather Industry- 93

Growing Demand in PVC Wallpapers- 95

11.Issues and Challenges in India PVC Emulsion Market 96

Inadequate Domestic Production and Reliance on Imports- 96

Lack of Production of higher K-Value Grades- 96

Fluctuation in Raw Material Prices- 96

Less Incentives for Companies to Set up PVC Emulsion/Paste Plant 98

12.  Government Regulations Regarding PVC and PVC Emulsion- 99

13. Trade Scenario for PVC Emulsion in India- 105

13.1. By Imports (Major Exporting Countries, Average Import Price and Price Seasonality) by Quantity in Mt and Value in INR Crore, FY’2014-FY’2020(P) 105

Major PVC Emulsion/Paste Exporting Countries and Companies- 113

13.2.  By Exports (Overview, Exporting Countries, Export Volume in MT and Value in INR Crore), FY’2014-FY’2019- 113

14. Buying Decision Parameters For End-Users in PVC Emulsion Market in India- 119

15. SWOT Analysis of India PVC Emulsion Market 122

16. India PVC Grades and Competitiveness- 124

16.1. Emulsion-PVC- 124

16.1.1. Emulsion PVC E60- 126

16.1.2.Emulsion PVC E66- 127

16.1.3. Emulsion PVC E68- 128

16.1.4. Emulsion PVC E72- 129

16.1.5. Emulsion PVC E75- 130

PVC Emulsion Grades Major Suppliers and Applications- 132

16.2. Micro-Suspension PVC- 135

PVC Micro-Suspension Grades Major Suppliers and Applications- 135

16.3. PVC Paste Resin- 137

PVC Paste Grades Major Suppliers and Applications- 138

17. Blending PVC Resins in India- 141

Major Exporters of Blending Resins to India- 142

18. Competition Scenario in India PVC Emulsion Market 144

18.1. Competition Scenario in India PVC Emulsion Market (Competition Stage, Competition Parameters) 144

18.2. Strengths and Weaknesses of Major Players (Finolex Industries Limited and Chemplast Sanmar Limited) in India PVC Emulsion Market 145

18.3. Cross-Comparison between Major Players in India PVC Emulsion Market 146

19.  Company Profiles of Major Players in India PVC Emulsion Market 148

19.1. International Companies Operating in India PVC Emulsion Market 148

19.2. Finolex Industries Limited- 149

19.3. Chemplast Sanmar Limited- 151

20.   India PVC Emulsion Market Future Outlook and Projections, FY’2020(P)-FY’2025F  155

20.1. By Production (Domestic and Import), FY’2025F- 157

20.2. By End-Users- 159

20.2.1.End Users-Domestic Volume (Synthetic Leather, Wall Coverings, Flooring, Films & Sheets, Coir Mats, Adhesives & Sealants, Conveyor Belts and Others) 159

20.2.2. End Users-Import Volume (Synthetic Leather, Printing Ink, Toys, Coir Mats, Conveyor Belts and Others) 160

Sythetic Leather Industry, 2019-2025F- 161

Wall Covering Industry, 2019-2025F- 163

PVC Flooring Industry, FY’2020(P)-FY’2025F- 164

PVC Films and Sheets industry, FY’2020(P)-FY’2025F- 165

Adhesives and Sealants- 166

Conveyor Belt Industry- 167

Coir Products Industry- 168

Toys & Games Industry- 169

Printing Ink Industry- 170

21. Analyst Recommendations- 172

Suggestion 1: Catering to a Wide Range of End-User Applications- 172

Suggestion 2: Focus on Best-Selling PVC Emulsion Grades- 172

Suggestion 3: Domestic Production of Raw Material (EDC/VCM) 173

Suggestion 4: Capacity Expansion- 173

Sugesstion 5: Wider Regional Focus- 174

Disclaimer 175

Contact Us  176

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