Polyvinyl Alcohol Films Industry Overview
The global polyvinyl alcohol films market size was valued at USD 367.3 million in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 5.3% from 2021 to 2028.
The increase in waste disposal problems coupled with stringent environmental regulations is driving the need for biodegradable raw materials in the packaging industry. This factor is expected to drive the demand for polyvinyl alcohol (PVA) films, particularly in the packaging industry. PVA films are eco-friendly and do not release toxic gasses upon incineration. The overall market for PVA applications is expected to grow at a CAGR of 5.3% from 2021 to 2028. Developments in the packaging industry, particularly for detergents and agrochemicals, in countries, such as India, China, and Taiwan, are expected to boost the demand for polyvinyl alcohol films in APAC.
Gather more insights about the market drivers, restrains and growth of the Global Polyvinyl Alcohol Films market
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.
PVA films are suitable for manufacturing packaging bags for detergents, agrochemicals, concrete additives, and laundry. These films are water-soluble and are characterized as a 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. China is among the leading producers of consumer as well as industrial products. As a result, China is expected to provide lucrative growth opportunities to market players.
The growing penetration of washing machines in developing economies, such as India and China, is likely to be a key factor driving the product demand in consumer detergent packaging applications. Growing applications in the agricultural industry are also expected to provide immense opportunities to industry participants. However, the fluctuating petrochemical prices may harm the market growth.
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Polyvinyl Alcohol Films Market Segmentation
Grand View Research has segmented the global polyvinyl alcohol films market on the basis of application and region:
- PVA Films Application Outlook (Volume, Tons; Revenue, USD Million, 2016 – 2028)
- Detergent Packaging
- Agrochemical Packaging
- Laundry Bags
- Embroidery
- Others
- PVA Films Regional Outlook (Volume, Tons; Revenue, USD Million, 2016 – 2028)
- North America
- Europe
- Asia Pacific
- Central & South America
- Middle East & Africa
Key Companies profiled:
Some 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
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