Polyvinyl Alcohol Films Market Size, Share & Trends Analysis Report By Region (North America, APAC), By Application (Detergent Packaging, Agrochemical Packaging), And Segment Forecasts, 2021 - 2028

Report 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.

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.

Polyvinyl Alcohol Films Market Trends

The utilization of synthetic polymer materials has posed significant environmental issues. Solid waste has affected the ecological conditions in developing countries. Furthermore, improper disposal of solid waste from various applications such as glass, textiles, paper, and food packaging can lead to health issues. It can also lead to environmental issues including water & land pollution, infectious diseases, drain obstruction, and loss of biodiversity. Sustainable packaging is in high demand owing to its ability to help in the reduction of landfills and compliance with strict regulations related to packaging. These factors are expected to fuel the demand for biodegradable packaging solution, which, in turn, is expected to propel the demand for polyvinyl alcohol films over the forecast period.

PVA water-soluble film is witnessing high demand in the global market as it is suitable for manufacturing bags for agrochemicals, detergents, laundry, and concrete additives, It is water soluble and is characterized as a green packaging material. Advantages offered by it include solubility in water, printability, non-toxic, and resistance to UV, gas, grease, and oils.

Polyvinyl alcohol (PVA) film is mainly driven by its demand for the packaging of detergent, as the material exhibits oxygen barrier, water solubility, and biodegradable properties. The demand for polyvinyl alcohol film is expected to grow significantly owing to the rising growth in application sectors mainly in the Asia Pacific region.

Water-soluble PVA films are biodegradable and are used widely in packaging of small-dose detergent, and agrochemicals. These small-dose packaging offer convenience as they are easy to use and also avoid human contact with the product. Furthermore, product innovation in PVA films is expected to further propel its demand. However, its high cost of production is likely to restrain the PVA films market growth over the forecast period.

Volatility in the raw material prices is expected to challenge the growth of the PVA films market. Various raw materials are used for the production of polyvinyl alcohol films including vinyl acetate monomer, methanol, sodium sulfate, sodium hydroxide, and methyl acetate. Economic instability creates price volatility through various application demand patterns, credit availability, and inventory management.

Application Insights

Detergent packaging was the dominant application segment in 2020 and accounted for a revenue share of over 37%. It is also estimated to expand further at the fastest CAGR of more than 5% over the forecast period. On the basis of application, the global market had been divided into detergent packaging, agrochemical packaging, laundry bags, embroidery, and others.

PVA films in embroidery applications are still at their nascent stage and are expected to grow at a steady CAGR from 2021 to 2028. Their usage in embroidery increases the dimensional stability of the materials, whereas their usage in laundry bags eliminates contamination problems, particularly in the medical industry.

Regional Insights

North America accounted for the largest revenue share of over 32% in 2020 and is expected to continue its dominance over the forecast period. This region is expected to register moderate growth over the forecast period. Increasing detergent demand from various end-use industries, such as hospitals, restaurants, hotels, and domestic sectors is expected to drive the regional market growth. Europe is one of the largest markets for agrochemicals and is also one of the fastest-growing exporters of food grains.

Globally rising population and increasing food demand are the factors fueling the demand for agrochemicals and consequently that for agrochemical packaging in the region since the past few years. Moreover, increasing utilization of agrochemicals in non-agricultural applications such as nurseries, indoor plants, and animal husbandry is further fueling the demand for agrochemical packaging and, in turn, the demand for PVA films.

Rising demand for food and the need for food safety in Europe is expected to boost the consumption of agrochemicals, which, in turn, will fuel the demand for PVA films over the forecast period. Asia Pacific is expected to register the fastest CAGR of 6.2% from 2021 to 2028, in terms of revenue. The agrochemical packaging segment is one of the largest contributors to the market growth in the Asia Pacific.

The region is projected to witness the highest growth rate and become the most essential PVA films market on account of increasing consumption of PVA films in the agrochemical and detergent packaging applications. The agrochemical packaging segment is one of the largest contributors to the growth of Asia Pacific PVA films market owing to increasing demand for agrochemicals in the region.

Robust growth of agrochemicals industry in the country and rising agrochemical trade opportunities are fueling the demand for agrochemical packaging since the past few years. Favorable government regulations for increasing the country’s agricultural production, which, in turn, is increasing the demand for fertilizers, these are expected to drive the demand for agrochemicals packaging, and, in turn, that for PVA films over the forecast period.

In the Middle East & Africa, PVA films are widely utilized in various application segments owing to their high water-soluble and biodegradable properties. PVA films are extensively utilized in agrochemical and detergent packaging as well as in laundry bags. In addition, they are widely employed for embroidery applications in the textile industry as a base to help needle penetrate thick fabrics. Robust growth of these application segments is anticipated to fuel the demand for PVA films in the Middle East & Africa over the forecast period.

Key Companies & Market Share Insights

The market is considered to be a growing market in light of the rising demand for environmentally friendly products, which help avoid harmful ecological as well as health impacts. The market is highly competitive and is characterized by the presence of medium- and large-scale manufacturers. Producers attain economies of scale as the raw materials are available at relatively lower prices and the plants are located in close vicinity to the raw material suppliers. Over the past few years, the market has observed a considerable rise in product manufacturing capacities. Global companies expanded their production capacities to meet the rising global demand. Some of the 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

Polyvinyl Alcohol Films Market Report Scope

Global Polyvinyl Alcohol Films Market Segmentation

This report forecasts revenue and volume growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2028. For the purpose of this study, Grand View Research has segmented the global polyvinyl alcohol films market report on the basis of application and region:

• Application Outlook (Volume, Tons; Revenue, USD Million, 2016 - 2028)

  • Detergent Packaging

    • Consumer Detergent

    • Industrial Detergent

  • Agrochemical Packaging

  • Laundry Bags

  • Embroidery

  • Others

• Regional Outlook (Volume, Tons; Revenue, USD Million, 2016 - 2028)

  • North America

    • U.S.

  • Europe

    • Germany

    • U.K.

  • Asia Pacific

    • China

    • India

    • Japan

  • Central & South America

    • Brazil

  • Middle East & Africa