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

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

In 2022, the Asian market for PVC floor, wall and ceiling coverings was finally on the rise to reach $X after two years of decline. The total consumption indicated a mild increase from 2012 to 2022: its value increased at an average annual rate of +1.8% 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 -23.8% against 2019 indices. Over the period under review, the market attained the peak level 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

In value terms, production of PVC floor, wall and ceiling coverings declined modestly to $X in 2022 estimated in export price. Over the period under review, production recorded a strong expansion. The pace of growth appeared the most rapid in 2018 with an increase of 28% against the previous year. Over the period under review, production of hit record highs at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Exports of PVC Floor, Wall and Ceiling Coverings

Exports in Asia

In 2022, after ten years of growth, there was significant decline in overseas shipments of PVC floor, wall and ceiling coverings, when their volume decreased by -11.9% to X square meters. Over the period under review, exports, however, enjoyed a strong expansion. The growth pace was the most rapid in 2018 with an increase of 31% against the previous year. Over the period under review, the exports of attained the maximum at X square meters in 2021, and then contracted in the following year.

In value terms, exports of PVC floor, wall and ceiling coverings dropped to $X in 2022. In general, exports, however, continue to indicate strong growth. The most prominent rate of growth was recorded in 2021 when exports increased by 30% against the previous year. As a result, the exports reached the peak of $X, and then contracted in the following year.

Exports by Country

China dominates coverings structure, recording X square meters, which was near 86% of total exports in 2022. It was distantly followed by South Korea (X square meters), making up a 6.5% share of total exports. The following exporters - Vietnam (X square meters) and Taiwan (Chinese) (X square meters) - together made up 4.8% of total exports.

Exports from China increased at an average annual rate of +18.5% from 2012 to 2022. 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, 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 (-7.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest PVC floor, wall and ceiling coverings supplier in Asia, comprising 78% of total exports. The second position in the ranking was held by South Korea ($X), with a 9.9% share of total exports. It was followed by Vietnam, with a 5.6% share.

From 2012 to 2022, the average annual growth rate 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

The export price in Asia stood at $X per square meter in 2022, with an increase of 3% against the previous year. Over the period under review, the export price, however, recorded a slight setback. The pace of growth was the most pronounced in 2021 when the export price increased by 8%. The level of export peaked at $X per square meter in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, 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

Imports of PVC floor, wall and ceiling coverings fell modestly to X square meters in 2022, which is down by -4.7% on the previous year. Total imports indicated a buoyant expansion from 2012 to 2022: its volume increased at an average annual rate of +6.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +89.6% against 2012 indices. The pace of growth appeared the most rapid in 2019 with an increase of 24%. The volume of import peaked at X square meters in 2021, and then declined slightly in the following year.

In value terms, imports of PVC floor, wall and ceiling coverings fell to $X in 2022. Total imports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +53.0% against 2015 indices. The growth pace was the most rapid in 2019 with an increase of 19% against the previous year. Over the period under review, imports of attained the peak figure at $X in 2021, and then reduced in the following year.

Imports by Country

The purchases of the twelve major importers of PVC floor, wall and ceiling coverings, namely Indonesia, Taiwan (Chinese), Thailand, Malaysia, Vietnam, the United Arab Emirates, Singapore, Saudi Arabia, Japan, South Korea, India and the Philippines, represented more than two-thirds of total import. Iraq (X square meters) held a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Vietnam (with a CAGR of +21.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest PVC floor, wall and ceiling coverings importing markets in Asia were Vietnam ($X), Japan ($X) and Indonesia ($X), with a combined 23% share of total imports.

In terms of the main importing countries, Vietnam, with a CAGR of +17.7%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Asia amounted to $X per square meter, growing by 4.1% against the previous year. Overall, the import price, however, saw a slight setback. Over the period under review, import prices reached the maximum at $X per square meter in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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 Japan ($X per square meter), while the Philippines ($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 mixed trends in the import price figures.

Source: IndexBox Platform

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