PVC Foam Sheet Market for Structural Composites to Develop at CAGR of 4.1% during Forecast Period, Notes TMR Study
- Increase in funding in the wind energy industry and rise in contract agreements for the delivery of wind energy in countries such as China and India are likely to bolster the global demand
- The PVC foam sheet market for structural composites is growing due to major technological advancements in PVC sheet extruder lines
ALBANY, N.Y., March 1, 2022 /PRNewswire/ -- The global PVC foam sheet market for structural composites was valued over US$ 900 Mn in 2019 and is expected to rise at a CAGR of 4.1% during the forecast period, from 2020 to 2030. The closed-hole cross-linked structure of PVC foam sheet for structural composites has great stiffness, outstanding strength-to-weight ratio, as well as toughness. With these features, PVC foam sheets are utilized in a wide array of purposes, including building & construction, maritime, transportation, and wind energy. Manufacturers of PVC foam sheet for structural composites are capitalizing on new prospective in wind energy. Thus, revenue from wind energy applications in the PVC foam sheet market for structural composites is expected to expand at a rapid rate during the forecast period. As a result, manufacturers of PCV foam sheets are taking advantage of immense possibilities in the production of wind blades.
In 2019, Asia Pacific held a large share of the global PVC foam sheet market for structural composites in terms of demand, followed by Europe and North America. In 2019, China retained a commanding position in the Asia Pacific PVC foam sheet market for structural composites. In terms of value, the Asia Pacific PVC foam sheet market for structural composites is predicted to grow at a CAGR of 4.3% in the years to come.
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Key Findings of Market Report
- PVC foam sheet's ability to absorb fatigue resistance and offer toughness, moisture, and great bond strength with conventional adhesives and resins is projected to drive the demand in the near future
- Machine makers are laying more emphasis on providing equipment to organizations that specialize in SPC production. As a result, SPC is gaining traction as a significant driver for the market.
- In 2019, the global PVC foam sheet market for structural composites was dominated by the transportation industry. Surge in demand for PVC foam sheets in the manufacture of different automobile parts is expected to propel the segment at a rapid pace during the forecast period. PVC foam sheets are generally utilized for supporting buildings and interior design.
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- By the end of the forecast period, the wind energy segment of the PVC foam sheet market for structural composites is predicted to grow at a quicker rate. PVC foam sheets for structural composites have strong fire & heat resistance, anti-corrosion, high stiffness, and good strength-to-weight ratio. The need for PVC foam sheets in the manufacturing of different wind turbine parts is projected to increase as a result of this.
- India and China, with their huge population base and rapid rise in the middle-class people, offer promising opportunities for the PVC foam sheet market for structural composites in Asia Pacific. The demand for nacelle covers, rotor blades, and generator housing is expected to increase as the spending on the wind energy sector develops and contract agreements for the delivery of wind energy rises in countries such as China and India.
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Global PVC Foam Sheet Market for Structural Composites Market: Growth Drivers
- Since balsa is heavier than PVC, players in the PVC foam sheet market for structural composites are focusing on wind energy application that demand lightweight materials such as PVC foam sheets
- PVC face shields are in high demand in the healthcare industry of the U.S. and Brazil. Aside from PVC face shields, producers are focusing on SPC products, which are widely utilized in flooring applications.
Global PVC Foam Sheet Market for Structural Composites Market: Key Players
Some of the key market players are
- Changzhou Tiansheng New Materials Co., Ltd
- Deqing Sanhe Rubber & Plastic Co., Ltd
- Brett Martin Plastic Sheets
- Armacell International S.A.
- Changzhou Utek Composite Co., Ltd
- Novagard Solutions, Inc.
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Global PVC Foam Sheet Market for Structural Composites Market: Segmentation
Application
- Transportation
- Wind Energy
- Marine
- Building & Construction
- Others
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