Asia-Pacific: Market for PVC Floor, Wall and Ceiling Coverings 2024

Market Size for PVC Floor, Wall and Ceiling Coverings in Asia-Pacific

After two years of decline, the Asia-Pacific market for PVC floor, wall and ceiling coverings increased by 23% to $X in 2022. The total consumption indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -12.9% against 2019 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Production of PVC Floor, Wall and Ceiling Coverings in Asia-Pacific

In value terms, production of PVC floor, wall and ceiling coverings reached $X in 2022 estimated in export price. In general, production recorded a remarkable increase. The pace of growth was the most pronounced in 2018 with an increase of 20%. Over the period under review, production of attained the peak level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of PVC Floor, Wall and Ceiling Coverings

Exports in Asia-Pacific

In 2022, overseas shipments of PVC floor, wall and ceiling coverings decreased by -12.3% to X square meters for the first time since 2011, thus ending a ten-year rising trend. Over the period under review, exports, however, showed resilient growth. The pace of growth was the most pronounced in 2018 with an increase of 31% against the previous year. The volume of export peaked at X square meters in 2021, and then fell in the following year.

In value terms, exports of PVC floor, wall and ceiling coverings shrank to $X in 2022. In general, exports, however, enjoyed a remarkable increase. The growth pace was the most rapid in 2021 when exports increased by 30% against the previous year. As a result, the exports attained the peak of $X, and then fell in the following year.

Exports by Country

China dominates coverings structure, amounting to X square meters, which was near 87% of total exports in 2022. It was distantly followed by South Korea (X square meters), comprising a 6.5% share of total exports. Vietnam (X square meters) and Taiwan (Chinese) (X square meters) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to PVC floor, wall and ceiling coverings exports from China stood at +18.5%. At the same time, Vietnam (+34.6%), Taiwan (Chinese) (+11.1%) and South Korea (+7.8%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +34.6% from 2012-2022. While the share of China (+15 p.p.) and Vietnam (+2.5 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of South Korea (-7.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest PVC floor, wall and ceiling coverings supplier in Asia-Pacific, comprising 79% of total exports. The second position in the ranking was taken by South Korea ($X), with a 10% share of total exports. It was followed by Vietnam, with a 5.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China amounted to +17.2%. The remaining exporting countries recorded the following average annual rates of exports growth: South Korea (+8.8% per year) and Vietnam (+39.5% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per square meter, with an increase of 2.9% against the previous year. Overall, the export price, however, continues to indicate a mild curtailment. The pace of growth appeared the most rapid in 2021 an increase of 7.9%. Over the period under review, the export prices hit record highs at $X per square meter in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Vietnam ($X per square meter), while China ($X per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+3.7%), while the other leaders experienced more modest paces of growth.

Imports of PVC Floor, Wall and Ceiling Coverings

Imports in Asia-Pacific

Imports of PVC floor, wall and ceiling coverings dropped modestly to X square meters in 2022, therefore, remained relatively stable against 2021 figures. In general, imports, however, posted a remarkable increase. The most prominent rate of growth was recorded in 2021 when imports increased by 25%. As a result, imports attained the peak of X square meters, leveling off in the following year.

In value terms, imports of PVC floor, wall and ceiling coverings totaled $X in 2022. Over the period under review, imports, however, saw prominent growth. The most prominent rate of growth was recorded in 2021 with an increase of 27% against the previous year. Over the period under review, imports of attained the peak figure in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Australia (X square meters), distantly followed by Indonesia (X square meters), Taiwan (Chinese) (X square meters), Thailand (X square meters), Malaysia (X square meters), Vietnam (X square meters), Singapore (X square meters), Japan (X square meters) and South Korea (X square meters) represented the major importers of PVC floor, wall and ceiling coverings, together achieving 79% of total imports. India (X square meters), the Philippines (X square meters), Democratic People's Republic of Korea (X square meters) and China (X square meters) took a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +21.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Australia ($X) constitutes the largest market for imported PVC floor, wall and ceiling coverings in Asia-Pacific, comprising 29% of total imports. The second position in the ranking was held by Vietnam ($X), with an 8.3% share of total imports. It was followed by Japan, with a 7.5% share.

In Australia, imports of PVC floor, wall and ceiling coverings expanded at an average annual rate of +12.9% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Vietnam (+17.7% per year) and Japan (+4.5% per year).

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per square meter, increasing by 5% against the previous year. In general, the import price, however, recorded a mild curtailment. The most prominent rate of growth was recorded in 2018 when the import price increased by 5.2% against the previous year. Over the period under review, import prices hit record highs at $X per square meter in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was China ($X per square meter), while the Philippines ($X per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+2.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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