Outlook on the Polyvinyl Alcohol Films Global Market to 2026 - Rising Demand for Biodegradable Packaging is Driving Growth
DUBLIN, April 28, 2022 /PRNewswire/ -- The "Polyvinyl Alcohol (PVA) Films Market - Forecasts from 2021 to 2026" report has been added to ResearchAndMarkets.com's offering.
The polyvinyl alcohol (PVA) films market is projected to grow at a CAGR of 7.26% to reach US$1,084.367 million by 2026, from US$663.914 million in 2019.
Polyvinyl alcohol (PVA) film is a water-soluble, biodegradable film used in the packaging of detergents, agrochemicals, water treatment chemicals, disinfectants and dyes, laundry bag manufacturing, and embroidery. The water solubility characteristic of polyvinyl alcohol films is responsible for all of these uses. The need for biodegradable raw materials to produce sustainable packaging solutions is increasing as trash disposal costs rise and environmental laws become more severe. As a result, the global market for polyvinyl alcohol (PVA) films is growing, as PVA films are environmentally benign and do not emit harmful chemicals when burned. Another significant driver of the polyvinyl alcohol (PVA) films market is the growing demand for detergents in both businesses and households for cleaning purposes due to rising awareness about clean and hygienic workplaces and homes. Farmers' increased usage of agrochemicals to increase agricultural production is driving up demand for polyvinyl alcohol (PVA) films.
PVA (polyvinyl alcohol) is a water-soluble polymer that is used as a raw ingredient in the packaging of detergents, food, and agrochemical goods. It's non-toxic and doesn't emit any hazardous gases when burned. Polyvinyl alcohol (PVA) films are in high demand and are being used in a variety of applications, including detergent packaging, laundry bags, embroidery, tablet coatings, eye drops, food packaging, and more. LCD panels, optical filters, contact lenses, sunglasses, dyes and pigments, and other products all employ polyvinyl alcohol films. PVA films used in detergents are in high demand due to rapid industrialization and a growing worldwide population.
Another key driver driving revenue growth in the worldwide polyvinyl alcohol films market is strict government laws and regulations requiring the usage of high-quality polyvinyl alcohol films for packaging. Another important driver estimated to boost the growth of the worldwide polyvinyl alcohol films market is the rising demand for biocompatible, environmentally safe, and water-soluble PVA films in different sectors. Factors driving market expansion include increased hygiene awareness, negative environmental consequences from increased electronic device waste, and rising demand for environmentally friendly materials and products in emerging nations.
Major players, particularly in emerging nations and regions, are boosting production to fulfill global demand from a variety of sectors. Hospitality, textiles, electronics, chemicals, food and drinks, healthcare, and construction are among them. Because of the high number of polarizers PVA film producers in these countries, Asia Pacific market revenue is anticipated to continue to grow at the quickest pace. Because of rigorous packaging regulatory standards and rising attempts to make packaging more sustainable, North America and Europe hold a large market share.
Growth Factors
The global polyvinyl alcohol (PVA) films market is expected to benefit from the growing demand for biodegradable packaging
One of the major reasons for the growth of the polyvinyl alcohol (PVA) films market is the growing demand for biodegradable packing. Increasing disposable incomes, increased urbanization, and rising living standards are driving the market. All of these factors contribute to the increasing affordability of items and the willingness of consumers to invest in them. Because of the growing demand for convenient and biodegradable packaging, the polyvinyl alcohol (PVA) films market is projected to develop significantly over the forecast period. Manufacturers are creating easy and disposable packaging with properties such as static electricity, low oxygen permeability, excellent optical transmission, and coriaceous coating in response to increasing concerns about biodegradable and ecologically friendly products. PVA films market is expected to grow throughout the projected period, as manufacturers embrace biodegradable packaging goods.
Restraints
The polyvinyl alcohol market is constrained by changing raw material prices
A major restraint in the growth of the polyvinyl alcohol (PVA) films market is due to the fact that PVA is made from petrochemicals, raw material costs fluctuate. The petrochemical industry's fortunes have long been linked to crude oils. Because crude oil and its derivatives are used as feedstocks for petrochemicals, fluctuations in crude oil prices have a direct impact on petrochemical production, investment, and financial choices used as a raw material in the production of polyvinyl alcohol films limiting the market growth of the same.
Impact of COVID-19 on the polyvinyl alcohol (PVA) films market
The COVID-19 pandemic led to an interruption in production activities because of lockdown measures enforced in numerous countries. There have also been supply chain disruptions and delays in the operations of enterprises. The demand from the end-use industries slumped down which led to a decline in the market growth of polyvinyl alcohol (PVA) films.
Competitive Insights
The market leaders in the polyvinyl alcohol (PVA) films market are Cortec Corporation, Kuraray Co., Ltd., Arrow GreenTech Ltd., Aicello Corporation, Nippon Gohsei, Sekisui Specialty Chemicals America, Proudly Water-Soluble Plastic Co., Ltd, Amtrex Nature Care Pvt. Ltd, Joyforce Chemical Industrial Co. Ltd, and MSD Corporation.
Key Topics Covered:
1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter's Five Forces Analysis
4.3.1. Bargaining Power of End-Users
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. Polyvinyl Alcohol (PVA) Films Market Analysis, by Application
5.1. Introduction
5.2. Agrochemical Packaging
5.3. Detergent Packaging
5.4. Laundry Bags
5.5. Embroidery
5.6. Polarizer
5.7. Others
6. Polyvinyl Alcohol (PVA) Films Market Analysis, by Geography
6.1. Introduction
6.2. North America
6.2.1. USA
6.2.2. Canada
6.2.3. Mexico
6.3. South America
6.3.1. Brazil
6.3.2. Argentina
6.3.3. Others
6.4. Europe
6.4.1. Germany
6.4.2. France
6.4.3. UK
6.4.4. Italy
6.4.5. Others
6.5. Middle East and Africa
6.5.1. Saudi Arabia
6.5.2. UAE
6.5.3. South Africa
6.5.4. Others
6.6. Asia Pacific
6.6.1. China
6.6.2. India
6.6.3. Japan
6.6.4. South Korea
6.6.5. Taiwan
6.6.6. Thailand
6.6.7. Indonesia
6.6.8. Others
7. Competitive Environment and Analysis
7.1. Major Players and Strategy Analysis
7.2. Emerging Players and Market Lucrativeness
7.3. Mergers, Acquisitions, Agreements, and Collaborations
7.4. Vendor Competitiveness Matrix
8. Company Profiles
8.1. Cortec Corporation
8.2. Kuraray Co., Ltd.
8.3. Arrow GreenTech Ltd.
8.4. Aicello Corporation
8.5. Nippon Gohsei
8.6. Sekisui Specialty Chemicals America
8.7. Proudly Water-Soluble Plastic Co., Ltd
8.8. Amtrex Nature Care Pvt. Ltd
8.9. Joyforce Chemical Industrial Co. Ltd
8.10. MSD Corporation
For more information about this report visit https://www.researchandmarkets.com/r/xzy2u2
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