PVC Floor, Wall and Ceiling Coverings Market

Driven by increasing demand worldwide, the market for PVC floor, wall and ceiling coverings is expected to see growth in both volume and value terms. China remains the largest consumer and producer of these coverings, with the United States and India following closely. Import and export trends also show significant growth, with China leading as the major exporter. Overall, the market is forecasted to see steady growth in the coming years despite fluctuations in consumption, production, imports, and exports.

Market Forecast

Driven by increasing demand for PVC floor, wall and ceiling coverings worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +3.0% for the period from 2022 to 2030, which is projected to bring the market volume to 7.2B square meters by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +6.5% for the period from 2022 to 2030, which is projected to bring the market value to $25.9B (in nominal prices) by the end of 2030.

Consumption

World Consumption of PVC Floor, Wall and Ceiling Coverings

Global consumption of PVC floor, wall and ceiling coverings shrank to 5.7B square meters in 2022, declining by -7% against the previous year's figure. Over the period under review, the total consumption indicated a prominent increase from 2012 to 2022: its volume increased at an average annual rate of +6.1% 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 +38.7% against 2020 indices. As a result, consumption attained the peak volume of 6.1B square meters, and then shrank in the following year.

The revenue of the market for PVC floor, wall and ceiling coverings worldwide shrank modestly to $15.7B in 2022, reducing by -1.8% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, recorded a buoyant expansion. As a result, consumption attained the peak level of $15.9B, and then reduced slightly in the following year.

Consumption By Country

China (1.5B square meters) remains the largest PVC floor, wall and ceiling coverings consuming country worldwide, accounting for 27% of total volume. Moreover, consumption of PVC floor, wall and ceiling coverings in China exceeded the figures recorded by the second-largest consumer, the United States (700M square meters), twofold. Russia (395M square meters) ranked third in terms of total consumption with a 6.9% share.

In China, consumption of PVC floor, wall and ceiling coverings expanded at an average annual rate of +6.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United States (+8.3% per year) and Russia (+3.8% per year).

In value terms, the largest PVC floor, wall and ceiling coverings markets worldwide were the United States ($3.6B), China ($3.1B) and India ($1.1B), together comprising 50% of the global market. Russia, Japan, Germany, Canada, the UK and Australia lagged somewhat behind, together accounting for a further 21%.

Australia, with a CAGR of +16.0%, recorded the highest growth rate of market size among the main consuming countries over the period under review, while coverings for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of PVC floor, wall and ceiling coverings per capita consumption in 2022 were Canada (5.4 square meters per person), Australia (5.3 square meters per person) and the UK (3.3 square meters per person).

From 2012 to 2022, the biggest increases were recorded for Australia (with a CAGR of +17.0%), while coverings for the other global leaders experienced more modest paces of growth.

Production

World Production of PVC Floor, Wall and Ceiling Coverings

In 2022, the amount of PVC floor, wall and ceiling coverings produced worldwide contracted to 5.8B square meters, with a decrease of -9.1% on 2021 figures. Over the period under review, the total production indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +25.0% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 38%. Global production peaked at 7.5B square meters in 2019; however, from 2020 to 2022, production failed to regain momentum.

In value terms, production of PVC floor, wall and ceiling coverings shrank to $14.3B in 2022 estimated in export price. In general, the total production indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +10.3% against 2020 indices. The growth pace was the most rapid in 2018 when the production volume increased by 31%. Global production peaked at $18.6B in 2019; however, from 2020 to 2022, production failed to regain momentum.

Production By Country

China (3B square meters) constituted the country with the largest volume of production of PVC floor, wall and ceiling coverings, comprising approx. 52% of total volume. Moreover, production of PVC floor, wall and ceiling coverings in China exceeded the figures recorded by the second-largest producer, South Korea (538M square meters), sixfold. Vietnam (458M square meters) ranked third in terms of total production with a 7.9% share.

In China, production of PVC floor, wall and ceiling coverings increased at an average annual rate of +6.1% over the period from 2012-2022. In the other countries, the average annual rates were as follows: South Korea (+7.0% per year) and Vietnam (+31.4% per year).

Imports

World Imports of PVC Floor, Wall and Ceiling Coverings

Global imports of PVC floor, wall and ceiling coverings expanded slightly to 3.1B square meters in 2022, increasing by 4.8% compared with the previous year. Over the period under review, imports recorded a buoyant expansion. The most prominent rate of growth was recorded in 2016 with an increase of 19%. Over the period under review, global imports of reached the maximum at 4.4B square meters in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, imports of PVC floor, wall and ceiling coverings expanded significantly to $12.2B in 2022. Overall, imports showed a buoyant increase. The pace of growth appeared the most rapid in 2021 with an increase of 24% against the previous year. Over the period under review, global imports of attained the maximum in 2022 and are likely to see gradual growth in years to come.

Imports By Country

The United States represented the main importing country with an import of around 727M square meters, which resulted at 23% of total imports. Canada (254M square meters) took the second position in the ranking, followed by the UK (228M square meters). All these countries together held approx. 15% share of total imports. Australia (141M square meters), Russia (125M square meters), Germany (123M square meters), the Netherlands (89M square meters), South Africa (77M square meters), Indonesia (75M square meters), Malaysia (70M square meters), France (66M square meters), Belgium (64M square meters) and Iraq (54M 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 imports into the United States stood at +8.3%. At the same time, Iraq (+20.5%), Malaysia (+18.9%), Australia (+16.0%), Indonesia (+9.9%), Canada (+9.8%), the Netherlands (+9.5%), the UK (+8.9%), Belgium (+6.8%), Russia (+5.6%) and South Africa (+3.6%) displayed positive paces of growth. Moreover, Iraq emerged as the fastest-growing importer imported in the world, with a CAGR of +20.5% from 2012-2022. By contrast, Germany (-2.5%) and France (-6.2%) illustrated a downward trend over the same period. While the share of the United States (+5.3 p.p.), Australia (+2.7 p.p.), Canada (+2.6 p.p.), the UK (+1.9 p.p.) and Malaysia (+1.6 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of Germany (-4.7 p.p.) and France (-4.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($5.1B) constitutes the largest market for imported PVC floor, wall and ceiling coverings worldwide, comprising 42% of global imports. The second position in the ranking was held by Germany ($822M), with a 6.7% share of global imports. It was followed by Canada, with a 5.3% share.

In the United States, imports of PVC floor, wall and ceiling coverings expanded at an average annual rate of +19.6% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Germany (+8.9% per year) and Canada (+9.5% per year).

Import Prices By Country

The average import price for PVC floor, wall and ceiling coverings stood at $3.9 per square meter in 2022, remaining constant against the previous year. In general, the import price continues to indicate a resilient expansion. The pace of growth was the most pronounced in 2020 an increase of 56%. Over the period under review, average import prices hit record highs in 2022 and is likely to see steady growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was France ($7.3 per square meter), while South Africa ($0.6 per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+11.8%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of PVC Floor, Wall and Ceiling Coverings

In 2022, overseas shipments of PVC floor, wall and ceiling coverings decreased by -0.4% to 3.3B square meters, falling for the third consecutive year after eight years of growth. Overall, exports, however, recorded a tangible increase. The most prominent rate of growth was recorded in 2018 when exports increased by 25%. Over the period under review, the global exports of hit record highs at 5.9B square meters in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, exports of PVC floor, wall and ceiling coverings totaled $12.4B in 2022. Over the period under review, exports, however, posted a buoyant expansion. The growth pace was the most rapid in 2021 when exports increased by 23% against the previous year. The global exports peaked in 2022 and are likely to continue growth in the near future.

Exports By Country

China was the major exporter of PVC floor, wall and ceiling coverings in the world, with the volume of exports recording 1.5B square meters, which was near 46% of total exports in 2022. South Korea (537M square meters) ranks second in terms of the total exports with a 16% share, followed by Vietnam (12%). Belgium (122M square meters), Taiwan (Chinese) (64M square meters), the Netherlands (57M square meters) and Turkey (53M square meters) held a little share of total exports.

From 2012 to 2022, average annual rates of growth with regard to PVC floor, wall and ceiling coverings exports from China stood at +4.9%. At the same time, Vietnam (+51.2%), the Netherlands (+18.6%), Turkey (+13.1%), South Korea (+9.4%) and Taiwan (Chinese) (+7.1%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in the world, with a CAGR of +51.2% from 2012-2022. Belgium experienced a relatively flat trend pattern. From 2012 to 2022, the share of Vietnam, South Korea and China increased by +12, +6.4 and +3.2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($6.4B) remains the largest PVC floor, wall and ceiling coverings supplier worldwide, comprising 51% of global exports. The second position in the ranking was held by Vietnam ($1B), with an 8.1% share of global exports. It was followed by Belgium, with a 7.8% share.

In China, exports of PVC floor, wall and ceiling coverings increased at an average annual rate of +17.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Vietnam (+50.9% per year) and Belgium (+9.4% per year).

Export Prices By Country

In 2022, the average export price for PVC floor, wall and ceiling coverings amounted to $3.8 per square meter, picking up by 1.5% against the previous year. In general, the export price continues to indicate prominent growth. The pace of growth was the most pronounced in 2020 when the average export price increased by 87%. The global export price peaked in 2022 and is likely to see gradual growth in the immediate term.

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 Belgium ($7.9 per square meter), while South Korea ($1.5 per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+11.8%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform