PVC Wall Panel Market Scope
The global PVC wall panels market is expected to grow at a significant pace during the forecast period owing to increasing demand for decorative materials for different end-use applications such as shopping malls, office buildings, hotels, hospitals, airports, and other commercial & residential applications. Moreover, increasing construction spending for attractive interior designs in residential & commercial sector and rising development of efficient building technologies using automated production & installation are some other factors aiding into the growth of PVC wall panels market globally.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | MAA Group (Pakistan), Aluminium Allied Centre (India), Dumaplast (Belgium), Extrutech Plastics Inc (United States), H&F Manufacturing Corp. (United States), Fixopan (India), Haichuang Plastic & Electronic Co., Ltd (China), huaxiajie.com (China), HONGBO Plastic Factory (China), Lowe's (United States), InterSourceCo (United States), Harwal Group of Companies (UAE) and Luxe Design (India) |
CAGR | % |
The vendors in this market are focusing on developing innovative products with PVC wall panels for different commercial and residential applications. The advantages such as abrasion resistance, lightweight, and higher strength-to-weight ratio are some of the key technical advantages and reasons behind the adoption of PVC wall panels by customers. The market for PVC wall panel is moderately fragmented in terms of vendors globally according to Advance Market Analytics. Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global PVC Wall Panel market throughout the predicted period.
MAA Group (Pakistan), Aluminium Allied Centre (India), Dumaplast (Belgium), Extrutech Plastics Inc (United States), H&F Manufacturing Corp. (United States), Fixopan (India), Haichuang Plastic & Electronic Co., Ltd (China), huaxiajie.com (China), HONGBO Plastic Factory (China), Lowe's (United States), InterSourceCo (United States), Harwal Group of Companies (UAE) and Luxe Design (India) are some of the key players that are part of study coverage.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global PVC Wall Panel market by Type , by Application (Residential and Commercial) and Region with country level break-up.
On the basis of geography, the market of PVC Wall Panel has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
In January 2020, Luxe Design announced the launch of new PVC launch panels which allows adding 3D effects to interior and exterior part of the walls
Stringent Government Regulations Regarding Temporarily Shutting Down of Construction Operations Across DIfferent Countries in the FY 2020 Due to the COVID-19 Pandemic, which has Impacted the PVC Wall Panels Market
Influencing Trend:
High Demand for Decorative Material for Different End-Use Applications Such as Office Buildings, Shopping Malls, Hospitals, Hotels, And Airports in Construction Industry
Market Growth Drivers:
Increasing Construction Spending and Development of Efficient Building Technologies Using Automated Production & Installation
Challenges:
High Cost in Comparison With Tiles and Limited Choice of Designs for Shower Wall Panels
Restraints:
The Requirement of Full Replacement at The Time of Damage
Opportunities:
Opportunities in the Asia Pacific Region
Analyst View
China was expected to be the largest market for PVC wall panels in Asia Pacific region owing to large presence of SMEs into PVC production and large consumption by customers followed by India. The demand for PVC wall panels are boosted by rising construction projects and government smart city initiatives in the countries such as India. This is expected to boost the demand for PVC wall panels in the region.