In the last three or four months PVC resin prices have dropped significantly. According to reports, prices dropped by nearly 20% during that time period. The PVC resin prices which were once reaching Rs 170 to Rs 175 is now hovering at around Rs 110. With this ease of availability, the PVC/ WPC board manufacturers are offering aggressive prices in competition. Many of them have dropped the price of boards and other finished goods.
Previously, as the price of resin rose, PVC/WPC boards market has shifted to other panel products and a major share were reported to be taken by High Density Moisture Resistant MDF Boards. But, now the market for PVC/ WPC boards, doors, and door frames is reviving, and demand is increasing. With increasing supply the PVC board sales are likely to improve.
The product category is improving its market share with its jails, doors, and door frames. The study indicates that in the recent past, over half a dozen Plywood companies have entered into the PVC/WPC board category, which includes Bhutan Tuff, Saburi, Gattani, GMG Plywood, Sunrise Panels, Archid, Trojan Plywood, AK Plywood, etc.
Because the industry was unable to use more than 50% of its capacity before, and many other products had taken their market share, now PVC board manufacturers are expected to regain their market share with ease of raw material prices. The industry hopes that the prices of PVC resin and other raw materials will come down further, which will help users get PVC boards for furniture making.