Polyvinyl Alcohol Films Market Players: Arrow Greentech Ltd., Mitsubishi Chemical Corp., Kuraray Co., Ltd., And Cortec Corp.

 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.

The bags used in laundries are mostly manufactured using PVA films as it becomes easier for disposal. As a result, the booming laundry service industry is projected to contribute to the steady growth of the market. Growing hygiene consciousness among the consumers coupled with rising standards of living is propelling demand for detergents. In addition, the growth witnessed by the hospitality industry is also contributing significantly to the production of detergents. This, in turn, is augmenting the overall demand for PVA films in the detergent packaging 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.

 

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. On the basis of application, the global market had been divided into detergent packaging, agrochemical packaging, laundry bags, embroidery, and others.

  • 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.


PVA Films Regional Outlook

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa (MEA)

 

Order a free sample PDF of the PVA Films Market Intelligence Study, published by Grand View Research.

 

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

 

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Grand View Research, Inc.

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