The market for polyvinyl chloride membranes is expected to grow at a CAGR of more than 6.4% globally during the forecast period. The polyvinyl chloride membranes are material for commercial applications that offer durable, powerful, and energy-efficient facilities. The growing demand from the building and construction segment has been driving the market growth.
– However, the outbreak of coronavirus across the globe is likely to hinder the growth of the studied market.
– The research and development on bio-based polyvinyl chloride membranes which have a high recycling capacity are likely to provide opportunities for the polyvinyl chloride membranes market over the next five years.
– Asia Pacific region dominated across the world with increasing consumption from countries like China and India.
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Key Market Trends
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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