Polyvinyl Alcohol (PVA) Films Market Few companies include WaterSol, NIPPON GOHSEI, KURARAY CO. LTD, Amtrex Nature Care Pvt. Ltd, and JEVA PACKAGING LTD.
The market for polyvinyl alcohol (PVA) films is expected to register a CAGR of over 4% during the forecast period. Growing demand for single-use detergent packaging and increasing government policies and shift toward eco-friendly materials are driving the market. On the flip side, higher costs of PVA films and limited applications are hindering the market growth.
– The polyvinyl alcohol film market is expected to grow during the forecast period, owing to the increasing demand for unit-dose packaging.
– Asia-Pacific represents the largest market, and it is also expected to be the fastest-growing market over the forecast period, owing to the increasing consumption from countries, such as China, India, and Japan.
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Key Market Trends
Growing Demand for Unit-dose Packaging
– Polyvinyl alcohol films are widely used in single-use packaging applications, and they are expected to be the fastest-growing market during the forecast period.
– Polyvinyl alcohol films are bio-degradable plastics films, and they are free from halogens, such as chlorine. PVA films start disintegrating when they come in contact with water. Due to their chemical composition, polyvinyl alcohol films break down into harmless compounds with less impact on the environment when compared to any other ordinary plastic film.
– Polyvinyl alcohol films are used in single-use packaging units, such as detergents. Films are compatible with detergents and are decomposed when contacted with water. North America is the largest market for detergent marketing, and it is expected to grow further during the forecast period.
– PVA films are used for packaging of dyes, pigments, cement additives, and other harmful chemicals, to limit human contact to the harmful materials, and the films decompose when contacted with water. The growing textile and building and construction industries are expected to drive the market.
– The growing need to restrict materials that pollute the environment, along with government policies to promote green initiatives, is expected to drive the market for polyvinyl alcohol films during the forecast period.
Asia-Pacific to Dominate the Market
– The Asia-Pacific region is expected to dominate the market for polyvinyl alcohol films during the forecast period, due to an increase in demand from countries, like China, South Korea, and India.
– India and China are the leading markets for agrochemical packaging. Growing innovations in agriculture and increasing usage of pesticides and fertilizers are expected to drive the market for PVA films during the forecast period. India’s agrochemical and forestry had a GDP share of 14.6% in 2018-2019. In FY 2019, the Indian government allocated INR 11 lakh crore (~USD 143.34 billion) for the agriculture sector and other related activities.
– The polarized panels manufactured from polyvinyl alcohol films are used in LCD panels, lenses, and others. South Korea is the leading manufacturer of displays and home for the largest electronic spearheads in the industry, like Samsung and LG. The production of displays is expected to drive the market during the forecast period. As per the Korea Electronics Association, South Korea made about USD 21,838 million in revenue through displays in 2019.
– The aforementioned factors, coupled with government support, are likely to contribute to the increasing demand for polyvinyl alcohol films in the Asia-Pacific during the forecast period.
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The polyvinyl alcohol films market is partially fragmented, with players accounting for a marginal share of the market. Few companies include WaterSol, NIPPON GOHSEI, KURARAY CO. LTD, Amtrex Nature Care Pvt. Ltd, and JEVA PACKAGING LTD.