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

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

The Southeast Asian market for PVC floor, wall and ceiling coverings expanded markedly to $X in 2022, surging by 5.5% against the previous year. The total consumption indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +14.6% against 2020 indices. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

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

In value terms, production of PVC floor, wall and ceiling coverings expanded to $X in 2022 estimated in export price. The total production indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -2.2% against 2020 indices. The pace of growth appeared the most rapid in 2018 with an increase of 36% against the previous year. Over the period under review, production of reached 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 South-Eastern Asia

In 2022, overseas shipments of PVC floor, wall and ceiling coverings decreased by -31.9% to X square meters for the first time since 2017, thus ending a four-year rising trend. Over the period under review, exports, however, saw a prominent expansion. The most prominent rate of growth was recorded in 2021 with an increase of 157% against the previous year. As a result, the exports reached the peak of X square meters, and then dropped notably in the following year.

In value terms, exports of PVC floor, wall and ceiling coverings declined significantly to $X in 2022. Overall, exports, however, enjoyed a buoyant increase. The pace of growth was the most pronounced in 2021 with an increase of 251% against the previous year. As a result, the exports reached the peak of $X, and then contracted remarkably in the following year.

Exports by Country

Vietnam represented the main exporting country with an export of about X square meters, which reached 75% of total exports. Thailand (X square meters) took a 14% share (based on physical terms) of total exports, which put it in second place, followed by Malaysia (6.8%). Cambodia (X square meters) took a relatively small share of total exports.

Exports from Vietnam increased at an average annual rate of +34.6% from 2012 to 2022. At the same time, Cambodia (+69.5%) and Malaysia (+2.8%) displayed positive paces of growth. Moreover, Cambodia emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +69.5% from 2012-2022. By contrast, Thailand (-8.2%) illustrated a downward trend over the same period. Vietnam (+66 p.p.) and Cambodia (+3.9 p.p.) significantly strengthened its position in terms of the total exports, while Malaysia and Thailand saw its share reduced by -5% and -62.4% from 2012 to 2022, respectively.

In value terms, Vietnam ($X) remains the largest PVC floor, wall and ceiling coverings supplier in South-Eastern Asia, comprising 85% of total exports. The second position in the ranking was held by Thailand ($X), with a 6.8% share of total exports. It was followed by Cambodia, with a 4.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Vietnam stood at +39.5%. The remaining exporting countries recorded the following average annual rates of exports growth: Thailand (-9.0% per year) and Cambodia (+83.6% per year).

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per square meter, declining by -5.9% against the previous year. In general, the export price, however, showed prominent growth. The most prominent rate of growth was recorded in 2021 an increase of 37%. As a result, the export price attained the peak level of $X per square meter, and then shrank in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Vietnam ($X per square meter), while Thailand ($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 Cambodia (+8.3%), while the other leaders experienced more modest paces of growth.

Imports of PVC Floor, Wall and Ceiling Coverings

Imports in South-Eastern Asia

Imports of PVC floor, wall and ceiling coverings fell modestly to X square meters in 2022, standing approx. at the previous year's figure. Over the period under review, imports, however, saw a buoyant expansion. The pace of growth was the most pronounced in 2019 when imports increased by 27%. Over the period under review, imports of attained the peak figure at X square meters in 2021, and then declined modestly in the following year.

In value terms, imports of PVC floor, wall and ceiling coverings expanded markedly to $X in 2022. In general, imports, however, showed buoyant growth. The most prominent rate of growth was recorded in 2014 when imports increased by 27%. The level of import peaked in 2022 and is likely to continue growth in the near future.

Imports by Country

The purchases of the five major importers of PVC floor, wall and ceiling coverings, namely Indonesia, Thailand, Malaysia, Vietnam and Singapore, represented more than two-thirds of total import. It was distantly followed by the Philippines (X square meters), comprising an 8.2% share of total imports. Myanmar (X square meters) followed a long way behind the leaders.

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, Vietnam ($X), Indonesia ($X) and Singapore ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for 63% of total imports.

Vietnam, with a CAGR of +17.7%, saw the highest rates of growth with regard to the value of imports, among the main importing countries 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 South-Eastern Asia amounted to $X per square meter, with an increase of 8.8% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. Over the period under review, import prices reached the maximum at $X per square meter in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Singapore ($X per square meter), while the Philippines ($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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