PVC Foam Sheet Market Development and Trends Forecasts Report 2020-2030
PVC Foam Sheet Market for Structural Composites: Introduction
The global PVC foam sheet market for structural composites was valued at ~US$ 900 Mn in 2019 and is anticipated to expand at a CAGR of ~4% from 2020 to 2030. PVC foam sheet for structural composites is a closed-hole cross-linked structure, which possesses high rigidity, excellent strength-to-weight ratio, and toughness. PVC foam sheets are used in a wide range of applications, such as transportation, wind energy, marine, and building & construction, due to these properties. In terms of demand, Asia Pacific accounted for a major share of the global PVC foam sheet market for structural composites in 2019. It was followed by Europe and North America. China held dominant share of the PVC foam sheet market for structural composites in the region in 2019. Based on value, the PVC foam sheet market for structural composites in Asia Pacific is expected to expand at a CAGR of more than 4% during the forecast period.
Major Drivers of PVC Foam Sheet Market for Structural Composites
Sandwich composite structures are gaining popularity across the globe due to their static and dynamic mechanical characteristics. These structures are extensively employed in aerospace, automotive, and wind energy industries, wherein the weight of the components plays a vital role in deciding the overall weight of the structure. Additionally, weight reduction helps increase payload and decrease fuel consumption, especially in wind energy, transportation, aerospace, and marine sectors. Composite structures are made of outer and inner skins, core, and adhesive or bonding layer. Glass or carbon fiber reinforced polymers are primarily used as skin materials in sandwich structures, while the core material is made of PVC foam, PET foam, balsa wood, etc. Attributes of PVC foam sheet to absorb moisture, toughness, fatigue resistance, and excellent bond strength with common adhesives and resins is expected to boost the consumption of PVC foam sheet in the near future.
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Asia Pacific Dominates PVC Foam Sheet Market for Structural Composites
Based on volume and value, Asia Pacific led the global PVC foam sheet market for structural composites in 2019. Countries with large population and high growth in middle-class population, such as China and India, offer lucrative opportunities to the PVC foam sheet market for structural composites in Asia Pacific. The growth in investments in the wind energy sector and rise in contract agreements for the supply of wind energy in countries such as India and China are estimated to augment the demand for rotor blades, nacelle covers, and generator housing. PVC foam sheets offer properties such as high strength-to-weight ratio, lightweight, fatigue resistance, and high resin absorptivity. This is anticipated to boost the demand for PVC foam sheet for structural composites in the near future.
Share of Prominent Players in PVC Foam Sheet Market for Structural Composites
3A Composites, Diab, Gurit, and Armacell International S.A. are the major players that accounted for a major share of the global PVC foam sheet market for structural composites in 2019. Other players operating in the global PVC foam sheet market for structural composites include CoreLite, Inc., Changzhou Tiansheng New Materials CO., LTD., POTENTECH (GUANGDONG) LIMITED, Maricell S.r.l., Novagard Solutions, Inc., CHANGZHOU UTEK COMPOSITE CO., LTD, FOAMTECH Ltd, Deqing Sanhe Rubber & Plastic Co., Ltd, Ludlow Composites, Corp., and Brett Martin Plastic Sheets. Companies operating in the global PVC foam sheet market for structural composites merge, acquire, or enter into strategic partnerships with regional/local companies in order to increase their share.