The market size for PVC wall panels was significant in 2021 and is anticipated to have a high revenue CAGR during the forecast period due to increased demand for decorative materials used in various end-use applications. These include commercial and residential uses, such as office complexes, resorts, clinics, and retail malls. Moreover, the rise in construction spending, automated production and installation, and appealing interior designs in commercial and residential sectors is also driving market revenue growth. PVC wall panels are created from polyvinyl chloride and are waterproof, making them ideal for damp areas such as bathrooms, storage areas, and garages. They are easy to clean and require little maintenance, making them suitable for rooms that require a dust-free environment. Factors hindering revenue growth in the market include high costs, limited style options for shower wall panels, and concerns about chlorine emission from PVC. The Asia Pacific region holds the largest share in the market, with China leading the global construction market.
Major Factors Driving Revenue Growth of the Global PVC Wall Panels Market:
The low resin absorption capability, lightweight, and resilience to fatigue and chemicals of PVC panels for composite materials are projected to drive demand in a broad variety of applications. Household furniture, office equipment, wall cladding, partitioning & paneling, signature & exhibit panels, and faux walls are some of the applications for structural composite panels in the construction industry. They are usually used as composite materials in regions that need water resistance, such as bathroom walls or ceilings, or attics. These panels are very simple to clean and need little upkeep. It just needs a gentle wipe with a moist cloth to clean these panels. They do not gather dust and are therefore ideal for rooms occupied by those who are sensitive to dust. Painted walls are prone to become dusty and hence require frequent cleaning. Furthermore, whenever there is moisture in the wall, these panels are really handy because they can effectively resist moisture. We know that it is environmentally harmless, and many Medical Devices and food containers are constructed of PVC material since it is non-hazardous to the environment. In recent years, development of efficient construction technologies based on automated manufacture and installation has contributed to revenue growth of the market.
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PVC Wall Panels Market: Drive Factors
The global PVC wall panels market is expected to experience rapid revenue growth due to increasing demand for decorative materials in various commercial and residential applications. These panels are made from polyvinyl chloride, a waterproof material that is resistant to water and abrasion, and they are ideal for use in areas prone to dampness. They are also lightweight, durable, and require little maintenance. The market is driven by increasing construction spending, adoption of automated production and installation technologies, and consumer acceptance of the product's technological benefits.
The market is segmented by type into door panels, shower wall panels, and wall cladding sheets. The door panels segment is expected to account for the largest revenue share due to its versatility and customizability. The market is also segmented by application into commercial, home, and other, with the home/residential segment expected to experience the highest revenue growth rate due to the panels' ease of installation and durability.
The Asia Pacific region is expected to account for the largest revenue share in the market due to expanding infrastructure building activities, particularly in China, India, and Southeast Asia. However, the market faces challenges related to its high cost compared to other materials and limited selection of styles for shower wall panels. Chemical issues related to the use of PVC, such as the emission of chlorine over time, are also a source of concern. The COVID-19 pandemic has also had a significant impact on the market, disrupting supply chains and personnel availability.
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