Press Release

Global Polyvinyl Alcohol Films Market to Accelerate at a CAGR of Around 6.4% During 2024–30

The Global Polyvinyl Alcohol Films Market is projected to grow at a CAGR of about 6.4% during the forecast period of 2024–30, cites MarkNtel Advisors in the recent research report. The factors that have been driving the demand for polyvinyl alcohol films globally are the growth of their end users in industries like automotive, packaging, food & beverage, etc. Over the historical years, the demand for passenger cars has improved considerably, specifically across countries like India, Australia, Saudi Arabia, etc., majorly influenced by rising disposable incomes and increasing demand for personal mobility. Hence, as the demand has increased, the governments of countries like India, Saudi Arabia, Southeast Asian countries, etc., have taken initiatives to boost the production of vehicles. The improved demand has also led companies like BMW, Mercedes, Hyundai, etc., to expand their manufacturing facilities across countries to effectively cater to the increasing demand. Hence, as automotive production amplified, the demand for Polyvinyl Alcohol (PVA) Films also improved globally because these elements can be used to laminate safety glass for vehicles.

Furthermore, in recent years, governments worldwide, including those of India, Saudi Arabia, and the UAE, have intensified their efforts to combat carbon emissions stemming from industrial activities. Faced with the detrimental effects of pollution and climate change on citizens' lives, governments are steering their industries toward sustainable practices. Industries like chemicals and petrochemicals are urged to transition to eco-friendly solutions to mitigate their environmental impact. As a result, the adoption of PVA Films is poised for significant growth across sectors such as food and beverage, packaging, and pharmaceuticals, further states the research report, “Global Polyvinyl Alcohol Films Market Analysis, 2024.”

Segmentation Analysis

Detergent Packaging Holds a Major Share of the Global Polyvinyl Alcohol Films Market

Based on the application, the market is further bifurcated into Detergent Packaging, Agrochemical Packaging, Polarizing Plates, Laundry Bags, Embroidery, and Others (Pharmaceuticals, Food Packaging, etc.). Among these, detergent packaging has emerged as a prominent application for water-soluble films, experiencing steady expansion in recent years. PVA films, renowned for their flexibility and tensile strength, are extensively employed in detergent packaging, particularly for dissolvable detergent pods.

Moreover, the escalating demand for detergents across regions like India, the UAE, and Australia has led to increased production capacity among manufacturers like Farabi Petrochemicals Company and Unilever. Consequently, the demand for PVA films is witnessing a parallel uptick, propelled by the burgeoning demand for detergents and their pods globally.

Asia-Pacific to Lead the Polyvinyl Alcohol (PVA) Films Industry

The Asia-Pacific region has witnessed significant growth in the Global Polyvinyl Alcohol (PVA) Films Market over the past few years. This has been mainly credited to the remarkable industrial expansion across the region, to establish itself as a powerhouse in the global economy. With manufacturing at its core, the Asia-Pacific has become a leader in textiles, automotive products, and construction materials. This industrial boom has coincided with a growing emphasis on environmental stewardship and sustainable practices, prompting industries to adopt biodegradable and water-soluble packaging solutions like PVA films.

Additionally, as governments in the Asia-Pacific region intensify their focus on sustainability, industries are under immense pressure to adopt greener practices and reduce their carbon footprint. This concerted effort is expected to further boost the demand for PVA films across various sectors in the Asia-Pacific region in the coming years.

Competitive Landscape

With strategic initiatives such as mergers, collaborations, and acquisitions, the leading market companies, including Aicello Corporation, Amtrex Nature Care Pvt. Ltd., Jeva Packaging Limited, Joyforce Industrial, Kuraray Co., Ltd., Mitsubishi Chemical Corporation, Noble Industries, Arrow GreenTech Ltd., Cortec Corporation, MSD Corporation, Sekisui Specialty Chemicals America, Chang Chun Group, Merck KGaA, Changzhou Greencradleland Macromolecule Materials Co., Ltd., ECOMAVI S.r.l., and others, are looking forward to strengthening their market positions.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the market?
3. What key factors would propel and impede the industry across the globe?
4. How has the industry been evolving in terms of geography & product adoption?
5. How has the competition been shaping up across various regions?
6. How have buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-30?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?