PVDC Coated Films Market worth $2.2 billion by 2025 - Exclusive Report by MarketsandMarkets™
CHICAGO, Feb. 5, 2021 /PRNewswire/ -- According to the new market research report "PVDC Coated Films Market and acrylic coated films by film type (PP, PVC, PET, others), Coating Side (single-side coated and double-side coated), Application (packaging, labelling, and others) , End-use Industry, Region - Global Forecast to 2025", published by MarketsandMarkets™, the global PVDC Coated Films Market size is expected to grow from USD 1.5 billion in 2020 to USD 2.2 billion by 2025, at a CAGR of 7.0% and The global acrylic coated films market size is expected to grow from USD 672 million in 2020 to USD 965 million by 2025, at a CAGR of 7.5% during the forecast period.
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PVDC and acrylic coated films are extensively being used in the food & beverage and health & personal care end-use industries. The increasing food & beverage industry support the demand for PVDC and acrylic coated films in the industry.
PP-film type of PVDC and acrylic coated films comprises a major share of the PVDC coated films and acrylic coated films market in terms of value and volume.
PVDC coated and acrylic coated PP films offer high gas barrier and excellent seal strength, which enhances the properties of the film. These films also possess good aroma barrier, high stiffness, excellent oxygen & moisture barrier, superior dimensional stability, and low sealing threshold, which makes them suitable for food packaging. Acrylic-coated PP films are useful in the packaging of snacks, cigarettes, and other food items.
The COVID-19 pandemic resulted in a decline in industrial activities in the first half of 2020 across the globe. It resulted in reduced demand for PVDC and acrylic coated films from various end-use industries.
Single-side PVDC and acrylic coated type accounts for the largest market share in the global PVDC coated films market and acrylic coated films market during the forecasted period in terms of value and volume
Single-side PVDC coated films account for the major share of the overall market. These films are used in packaging meat, snacks, cheese, and other food products. They are widely used with PVC, which makes them suitable for the packaging of pharmaceutical products, where they are used in the form of blister films. Acrylic films are mostly coated on a single side. Coating done on one side of the film allows the other side to remain untreated. The other side can be coated with PVDC, which increases the shelf life of the product. This type of film is used in food packaging applications.
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The food & beverage end-use industry accounted for the largest market share in the global PVDC coated films market and acrylic coated films market during the forecast period in terms of value and volume.
The food & beverage end-use industry holds the dominant market share in the global PVDC coated films market and acrylic coated films market, both in terms of value and volume. The food & beverage industry has increased demand for PVDC and acrylic coated films in packaging, labelling and other applications. The demand for PVDC and acrylic coated films from food & beverage end-use is expected to decline in 2020 due to halts in the first half of 2020. Also, major manufacturers temporarily closed their plants during the lockdown. The demand is expected to recover after the COVID-19 pandemic is under control.
APAC is expected to account for the largest market share in the global PVDC coated films market and acrylic coated films market during the forecast period.
APAC accounts for the biggest share of the global PVDC coated films market and acrylic coated films market. The food & beverage and health & personal care end-use industry are major consumers of PVDC and acrylic coated films in the region. The region is home to some of the major PVDC and acrylic coated films manufacturers such as B.C. Jindal Group, Vacmet India Ltd., CosmoFilms Ltd., and SRF Limited. Moreover, the China is a manufacturing hub of wide range of PVDC coated films and acrylic coated films.
The key players in the PVDC coated films market and acrylic coated films market include B.C. Jindal Group (India), Cosmo Films Ltd. (India), Vibac Group S.p.A. (Italy), SKC, Inc. (US) and Vacmet India Ltd (India), are some of the key players in the PVDC coated films market and acrylic coated films market. Mondi Group Plc (UK), Innovia Films (UK), SRF Limited (India), Polinas Corporate (Turkey), and Kureha Corporation (Japan) are among others. These companies are involved in adopting various inorganic and organic strategies to increase their foothold in the PVDC coated films market and acrylic coated films market. These players have taken different organic and inorganic developmental strategies over the past five years.
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