Basalt Fiber Market Application
As per market analysts, the global market is anticipated to witness growth owing to the factors such as the growing application of PVC paste in the automotive and construction sector as well as the growing demand for lightweight vehicles. However, the market will face challenges and restraints due to the availability of substitutes and the toxic nature of PVC modules during the forecast period 2022 to 2030
As indicated by a report by Research and Markets, the worldwide basalt Basalt Fiber Market Application is expected to reach over USD 102.4 Million by 2024, with a CAGR of 8.9% during the conjectured time frame.
The advent of electric vehicles in the paste PVC resin market is set to play a key role in determining the growth potential from 2022 to 2030 years. Analysts have also studied the market to understand potential threats and challenges the market companies could face. Although the market is poised to grow at a fast pace across manufacturing process, application, and grade segments, factors such as a ban on phthalates owing to their toxicity could slow down the market’s growth worldwide.
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kay players
- SCG (Thailand)
- The Sanmar Group (India)
- LG Chem (South Korea)
- Braskem (Brazil)
- CIRES SA (Portugal)
- Gogara International (U.K.)
- Vinnolit GmbH & Co. KG (Germany)
- Tosoh Corporation (Japan)
- KEM ONE (France)
Recent Developments
Braskem and Chemetry, U.S.-based companies, announced the construction of a demonstration plant to produce ethylene dichloride (EDC) and caustic soda. EDC is a chemical product used mainly to make polyvinyl chloride (PVC). The start of demo operations is expected to begin in the second half of 2022.
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Market Segmentation
The paste PVC resin market has been segmented into the manufacturing process, application, and grade. Based on the segment which is the manufacturing process, the paste PVC resin market is categorized on the basis of emulsion and micro-suspension methods. The global market for paste PVC resin is further segmented based on application into printing inks, adhesive, automotive sealant, industrial gloves, molding, PVC flooring, synthetic leather, wall coverings, and others. Furthermore, the market, on the basis of grade is segmented into K grade, and high K grade, low K grade, and vinyl acetate copolymer grade.
The global market research report covers all the aspects of the market based on the segmental analysis of these manufacturing processes, applications, and grade segments. Analysts have also studied the global market’s regional markets spread across many continents and countries. The manufacturing process, application, and grade segments along with their sub-segments have been analyzed and companies functioning in the market across these segments are profiled and analyzed based on input and feedback from market-based decision-makers as well as primary and secondary sources. The paste PVC resin market research report presents analysis-based information for companies functioning in the market.
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Regional Overview
The availability of alternatives to PVC resins may hinder market growth. The market research report suggests that companies in the market could be supported by the growing demand in coating, foaming, rotational foaming, and spray coating as well as the increasing demand for pocket-friendly construction during the forecast period. The market is set to register growth at a high CAGR owing to these key factors. The paste PVC resin market is spread across North America, Europe, Asia-Pacific, and other parts of the world. The global market research report reveals that APAC, North America, and Europe regional markets will dominate the global market for paste PVC resin during the forecast period 2022 to 2030. As per market analysts, the market is set to witness tremendous growth across PVC flooring and High K grade segments in North America which covers markets across the United States, Canada, Mexico, and several other regional markets. Companies active in the market are also analyzed and studied in the market research report.
The paste PVC resin market for Europe covers smaller market segments of Germany, Italy, France, and the United Kingdom. Additionally, the market research report covers the Asia-Pacific region covering markets from India, China, Japan, Australia, and others. The market is also spread across the rest of the world. The market report covers all such regions including the Middle East, Africa, Brazil, and others.
Industry News
Westlake Chemical Corporation announced today that it has reached a binding deal with the private equity company Advent International to purchase the German-based Vinnolit Holdings GmbH and its subsidiaries. Specialty polyvinyl chloride (“pvc”) resins are an integrated world pioneer in Vinnolit. The €490 million purchase price would be funded with Westlake’s current cash and loan facilities. In the third quarter of 2014, the deal is scheduled to close pursuant to customary closing conditions, including regulatory scrutiny.
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