Polyvinyl Alcohol Films Industry Overview
The global polyvinyl alcohol films market size is expected to reach USD 551.59 million by 2028, according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 5.3% from 2021 to 2028. Sustainable packaging is in high demand on account of its ability to aid in the reduction of landfills and compliance with stringent regulations related to packaging. In addition, sustainable packaging solutions have gained importance on account of safety, performance, and convenience in the packaging of products.
PVA films are widely used as eco-friendly polymers and have contributed significantly to the growth of the sustainable packaging industry. Increasing government initiatives to support green packaging is also expected to be the key driving factor for the market. However, volatile raw material prices are expected to be a key challenge to the growth over the forecast period. The increasing global population, coupled with growing disposable income is offering high Purchase Power Parity (PPP) that has resulted in an improved standard of living. This is resulting in additional services being adopted, such as laundry services, in their daily routine.
Increasing application scope in various end-use industries is expected to drive the detergent demand. Green packaging initiatives in developed regions, such as North America and Europe, are anticipated to increase the product consumption levels in these regions. Growing environmental concerns owing to hazards caused by the disposal of electronic products are expected to drive the PVA films market growth.
Polyvinyl Alcohol Films Market Segmentation
Grand View Research has segmented the global polyvinyl alcohol films market on the basis of application and region:
Based on the Application Insights, the market is segmented into Detergent packaging, Agrochemical Packaging, Laundry Bags, Embroidery, and Others.
- Detergent packaging was the dominant application segment in 2020 and accounted for a revenue share of over 37%. It is also estimated to expand further at the fastest CAGR of more than 5% over the forecast period.
- PVA films in embroidery applications are still at their nascent stage and are expected to grow at a steady CAGR from 2021 to 2028. Their usage in embroidery increases the dimensional stability of the materials, whereas their usage in laundry bags eliminates contamination problems, particularly in the medical industry.
- Agrochemical packaging is another major driver for the market. Agrochemicals, such as pesticides, insecticides, herbicides, fertilizers, and other chemicals, are witnessing high demand in the agricultural sector. Thus, creating lucrative growth opportunities for PVA films.
PVA Films Regional Outlook
- North America
- Europe
- Asia Pacific
- Central & South America
- Middle East & Africa (MEA)
Key Companies & Market Share Insights
The market is considered to be a growing market in light of the rising demand for environmentally friendly products, which help avoid harmful ecological as well as health impacts. The market is highly competitive and is characterized by the presence of medium- and large-scale manufacturers. Producers attain economies of scale as the raw materials are available at relatively lower prices and the plants are located in close vicinity to the raw material suppliers. Over the past few years, the market has observed a considerable rise in product manufacturing capacities. Global companies expanded their production capacities to meet the rising global demand.
Some of the prominent players in the global polyvinyl alcohol films market include:
- Aicello Corp.
- Changzhou Water Soluble Co., Ltd.
- Arrow GreenTech Ltd.
- Mitsubishi Chemical Corp.
- Kuraray Co., Ltd.
- Cortec Corp.
- AMC (U.K.) Ltd.
- MSD Corp.
- Sekisui Chemical Co., Ltd.
- Chang Chun Group
Order a free sample PDF of the PVA Films Market Intelligence Study, published by Grand View Research.
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