The global PVA films market is expected to reach USD 404.1 million by 2025, according to a new report by Grand View Research, Inc. Increasing government initiatives to support green packaging is expected to remain key driving factor for the market. Volatile raw material prices are expected to be a key challenge to market growth over the forecast period.
Detergent packaging emerged as the leading product segment and accounted for over 30% of total market volume in 2016. Detergent packaging is also expected to be the fastest growing application market for water soluble polyvinyl alcohol films, at an estimated CAGR of 4.2% from 2017 to 2025.
The increasing global population, coupled with growing disposable income is offering high purchase power parity (PPP) that has resulted in improved standard of living. This in 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 growth for polyvinyl alcohol films market.
Growing hygiene consciousness among the consumers coupled with rising standards of living are propelling demand for detergents. In addition, positive growth witnessed by the hospitality industry is also contributing significantly in the demand for detergents. Thereby, supplementing overall demand for PVC films in detergent packaging industry. Agrochemical packaging is also among the major demand driver for PVA films in the global market. Agrochemicals such as pesticides, insecticides, herbicides, fertilizers, and others chemicals are witnessing augmented demand in the agricultural sector. Thus, creating lucrative growth opportunities for polyvinyl alcohol films during the forecast period.
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https://www.grandviewresearch.com/industry-analysis/polyvinyl-alcohol-films-industry
Further key findings from the report suggest:
- The global market for PVA films was USD 263 million in 2016 and is expected to reach USD 404.1 million by 2025, growing at a CAGR of 4.9% from 2017 to 2025.
- North America continued its dominance in the global polyvinyl alcohol films market and accounted for 33.0% of total market revenue in 2016. However, Asia Pacific is expected to be the fastest growing regional market, at an estimated CAGR of 5.6% from 2017 to 2025.
- Detergent packaging is estimated to be the largest market in 2016 and is projected to continue its dominance by 2025, growing at a CAGR of 4.1% from 2017-2025
- The global market for PVA films is highly concentrated among MonoSol LLC, Kuraray, Nippon Gohsei, Aicello Chemicals and Sekisuei Specialty Chemicals.
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com
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