Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Polyvinyl Alcohol Films market.
Trusted Business Insights presents an updated and Latest Study on Polyvinyl Alcohol Films Market 2020-2029. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Polyvinyl Alcohol Films market during the forecast period (2020-2029).
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
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Report Overview: Polyvinyl Alcohol Films Market
The global polyvinyl alcohol films market size was valued at USD 240.5 million in 2020. An increasing issue of waste disposal, coupled with stringent environmental regulations, is driving the need for biodegradable raw materials in the packaging industry. This factor is expected to generate the demand for Polyvinyl Alcohol (PVA) films, particularly in the packaging industry. PVA films are environment-friendly and they do not release toxic gasses upon incineration. The overall market for laundry bags applications is expected to expand at a CAGR of 2.7% from 2021 to 2027.
Developments in the packaging industry, particularly for detergents and agrochemicals in countries such as India and Taiwan are expected to develop the demand for polyvinyl alcohol films in the Asia Pacific. Increasing applications from various end-use industries is expected to generate the demand for detergent.
Green packaging initiatives in developed regions, such as North America and Europe are anticipated to increase the consumption of the application in these regions. Growing environmental concerns owing to hazards caused by the disposal of electronic applications are expected to drive the market growth.
Water-soluble films are suitable for manufacturing bags for detergents, agrochemicals, concrete additives, and laundry. The films are characterized as green packaging material. Water soluble films are majorly preferred in detergent packaging applications owing to their non-hazardous and non-toxic properties.
The detergent packaging segment has been further segmented into consumer detergent and industrial detergent. Developing economies are among the prominent producers for the consumer as well as industrial applications. As a result, China is expected to provide lucrative growth opportunities to manufacturers in the Polyvinyl Alcohol (PVA) films market.
The steady penetration of washing machines in developing economies, such as China and India is likely to be a key factor driving the demand for PVA films in consumer detergent packaging applications. Growing applications in the agricultural industry is expected to provide immense opportunities for industry participants. However, fluctuating petrochemical prices are responsible for the unstable prices of PVA films over the past few years.
Application Insights: Polyvinyl Alcohol Films Market
Detergent packaging was the dominant application using water-soluble films over the past few years. It is estimated to continue to expand steadily at a CAGR of 4.8% over the forecast period 2021-2027. Detergent packaging includes household and industrial detergents to be used without the user making any contact with it. Detergent packaging is expected to be the fastest growing application over the forecast period and is an attractive segment for industry participants.
Application of water-soluble films in embroidery is still at the nascent stage and is expected to register a CAGR of 4.4% from 2021 to 2027. 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.
Regional Insights: Polyvinyl Alcohol Films Market
North America was the largest regional market for PVA films and is expected to continue its dominance over the forecast period. The region is expected to register a moderate CAGR over the forecast period for water soluble application. Increasing detergent demand from various end-use industries such as hospitals, restaurants, hotels, and domestic sectors are expected to drive regional market growth.
Europe is one of the prominent markets for agrochemicals and is also one of the fastest-growing exporters of food grains. Rising demand for food and the need for food safety in Europe are the factors expected to increase the demand for agrochemicals. This, in turn, is anticipated to fuel the demand for PVA films over the forecast period.
Asia Pacific is expected to register a significant CAGR of 5.9% from 2020 to 2027 in terms of revenue. Agrochemical packaging segment is one of the prominent contributors to the growth of Asia Pacific region owing to the increasing demand for agrochemicals.
Polyvinyl Alcohol Films Market Share Insights
Market is considered to be growing in light of rising demand for environment-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.
Key manufacturers include
During the past few years the global market has observed a considerable rise in the production capacity of PVA films.
Global companies such as Kuraray Co., Ltd. and The Nippon Synthetic Chemical Industry Co., Ltd. expanded the production of water-soluble plastic films made from polyvinyl alcohol. The expansion was aimed at meeting the ascending demand for the aforementioned films globally.
This report forecasts revenue and volume growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For the purpose of this study, Trusted Business Insights has segmented the global Polyvinyl Alcohol films market report on the basis of application and region:
Application Outlook (Volume, Tons; Revenue, USD Million, 2016 – 2027)
- Detergent Packaging
- Consumer detergent
- Industrial detergent
- Agrochemical packaging
- Laundry bags
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