Global Polyvinyl Alcohol Films Market Research Report: Forecast (2024-2030)

Market Definition

Polyvinyl alcohol films are biodegradable and water-soluble films made using polyvinyl alcohol. These films are mainly used for industrial packaging purposes in the food & beverage industry, the detergent industry, the medical industry, etc. Additionally, with the property of optical clarity, they have been largely employed across sectors that require transparent packaging solutions.

Market Insights & Analysis: Global Polyvinyl Alcohol Films Market (2024-30):

The Global Polyvinyl Alcohol Films Market size is estimated to grow at a CAGR of around 6.4% during the forecast period, i.e., 2024–30. The rising internet penetration and enhanced adoption of smartphones have been leading to the growth of the e-commerce industry worldwide. In addition to this, countries like India, Saudi Arabia, the UAE, etc., have been largely focusing on improving the digital infrastructure of their countries. This has been achieved through the establishment of 5G infrastructure, digitalization schemes, etc., to create a robust technological and digital infrastructure in their countries.

This has further improved the adoption of e-commerce websites for online shopping purposes across the globe. Thus, as more consumers started using e-commerce platforms, the need for packaging solutions has been boosted over the past few years. This has been creating an increasing demand for packaging products, including Polyvinyl Alcohol (PVA) Films. The major reason behind the improved adoption of PVA films is their biodegradable nature, which has been escalating its adoption among e-commerce companies for packaging purposes.

Furthermore, according to the Statistical, Economic, and Social Research and Training Centre for Islamic Countries (SESRIC), in 2022, the global pharmaceutical industry registered rapid growth & emerged as one of the fastest-growing industries in the world. The market growth is attributed to the increasing aging populations & rising incidence of chronic non-communicable diseases, and growing consumer spending on health, leading to more drug purchases globally. Countries such as the US, Japan, India, etc., are improving their regulatory quality requirements to accelerate the drug approval process and wider adoption of fast-track procedures to improve the market entry of new drugs. The manufacturing of new drugs has led to an expansion in demand for packaging solutions in recent years. So, as PVA films emerged as sustainable and biodegradable packaging solutions, they have been largely employed across the pharmaceutical sector.

Also, with the rising R&D for the development of drugs across the globe, the pharmaceutical industry is expected to witness enhanced growth in the coming years as well. This growth in the sector is anticipated to create an opportunity for the growth & expansion of the Global Polyvinyl Alcohol Films Market in the forthcoming years.

Global Polyvinyl Alcohol Films Market Driver:

Increasing Automotive Production Inducing Demand for Polyvinyl Alcohol Films – Over the past few years, automotive manufacturing companies have been focusing on the expansion of their manufacturing capabilities across countries such as China, Japan, India, the UAE, etc. This expansion has been playing a vital role in the growth of the automotive industry worldwide. The major automotive manufacturers have set up their production units in China and Southeast Asian countries due to lower labor costs, favorable taxation policies, the availability of raw materials, and efficient supply chains. For instance,

• In 2022, BMW made a partnership with Truong Hai Auto Corporation (THACO) and announced the expansion of its production facility for BMW vehicles across Vietnam.

Hence, with the expansion of the automotive production units, the demand for Polyvinyl Alcohol Films (PVA) has also improved during the historical years. This is primarily because PVA has been largely used in the production of automotive components. Also, as companies like BMW, Mercedes Benz, etc., have announced their plans for expansion of their manufacturing facilities, the demand for PVA films is anticipated to grow significantly during the forecast period.

Global Polyvinyl Alcohol Films Market Opportunity:

Rising Sustainability Efforts to Offer Lucrative Opportunities – Over the years, the governments of different countries like India, Saudi Arabia, the UAE, etc., have been making significant efforts to reduce carbon emissions from their industrial sectors. With rising pollution and global warming severely affecting the lifestyles of their citizens, governments are trying to make their industrial operations sustainable. They are pushing companies in industries like chemical, petrochemical, etc., to improve the usage of eco-friendly solutions to reduce their carbon footprint. Consequently, these efforts are anticipated to considerably upscale the adoption of PVA Films, specifically across the food & beverage, packaging, and pharmaceutical sectors, among others.

Moreover, the demand for sustainable plastics is driving the usage of PVA films in the production of bio-based & eco-friendly packaging solutions, replacing traditional petrochemical-based packaging materials. According to the European Environment Agency, global consumer demand for sustainable packaging materials will surge by approximately 11 million tons by 2030. Thus, industries recognizing the rising demand for sustainable packaging materials see an opportunity to gain a competitive edge by incorporating PVA films in their production processes. Companies that proactively adopt PVA films position themselves favorably in the market, meeting both consumer preferences and regulatory mandates.

Global Polyvinyl Alcohol Films Market Challenge:

Fluctuating Prices of Raw Materials to Hinder Market Growth – The prices of Polyvinyl Alcohol (PVA) Films have been quite volatile over the years, which has been affecting their adoption among end users like packaging, textiles, etc. This volatility in pricing has been attributed to a significant supply chain disruption of raw materials like vinyl acetate and other olefins across the globe. The rising instances of global crises like lockdowns imposed during COVID-19 and the Russia-Ukraine war have been negatively affecting the supply chain of raw materials to manufacturers of PVA during 2020–2022.

Consequently, in such instances, the prices of PVA became highly volatile, which has further affected the pricing structure of PVA films. Thus, the volatility in the prices of raw materials is impeding the growth & expansion of the Polyvinyl Alcohol (PVA) Films industry, and if required actions are not taken timely, it is anticipated to harm the size & volume of the market in the coming years as well.

Global Polyvinyl Alcohol Films Market Trend:

Increasing Popularity of Sustainable Practices in the Cosmetic & Personal Care Industry – In recent years, the demand for personal care and cosmetic products has been gaining significant prominence across the globe. The rising awareness regarding self-care products has been influencing the growth of this industry. In addition, the increase in median household income has further influenced the spending of consumers on cosmetic and personal care products. Consequently, this rising trend among consumers for adoption of personal care products has led companies like Unilever Group, Procter & Gamble Co., etc., to expand their production facilities across countries like India, the Philippines, etc. For instance,

• In 2023, Procter & Gamble announced its plan for an investment of around USD 243.79 million in India to set up its new manufacturing facility in Gujarat, India.

As the production of cosmetic and personal care products increased, the demand for PVA films has also improved across the globe, as they have been largely employed in the packaging of personal care and beauty products. As cosmetic companies are largely inclining toward sustainable packaging solutions, the demand for PVA films in the industry is expected to escalate in the coming years.

Global Polyvinyl Alcohol Films Market (2024-30): Segmentation Analysis

The Global Polyvinyl Alcohol Films Market study of MarkNtel Advisors evaluates & highlights the major trends and influencing factors in each segment. It includes predictions for the period 2024–2030 at the global level. According to the analysis, the market has been further classified as:

Based on Grade:

• Fully Hydrolyzed
• Partially Hydrolyzed
• Sub-Partially Hydrolyzed
• Low Foaming Grade

The fully hydrolyzed PVA segment holds the largest share of the market, primarily due to its widespread utilization in the production of PVA Films. This variant is extensively employed across various applications, including pharmaceutical packaging. Also, in recent years, there has been a surge in manufacturing facility expansion among key pharmaceutical drug manufacturers like AstraZeneca and Sinovac, among others. This is because of the increase in the aging population and rising healthcare needs, which have led to increased consumption of pharmaceutical products. Also, in recent years, the pharmaceutical industry has been inclining toward sustainability and prefers to use biodegradable products for packaging purposes. Consequently, improved pharmaceutical production has also enhanced the demand for fully hydrolyzed PVA films for packaging solutions over the past few years.

Based on Application:

• Detergent Packaging
• Agrochemical Packaging
• Polarizing Plates
• Laundry Bags
• Embroidery
• Others (Pharmaceuticals, Food Packaging, etc.)

In recent years, detergent packaging has emerged as the predominant application for water-soluble films, demonstrating steady expansion over the forecast period. PVA films have been extensively employed across various applications, benefiting from their exceptional flexibility and high tensile strength. It has been primarily used in detergent packaging, especially if the liquid inside is to be dissolved in water, like in detergent pods. Moreover, over the historical years, the demand for detergents has amplified considerably, specifically across countries like India, the UAE, Australia, etc. This has also improved their production, as manufacturers like Farabi Petrochemicals Company, Unilever, etc. have announced plans to improve their production capacities across countries like India, Saudi Arabia, etc. Hence, with the rising demand for detergent and its pods across the globe and its improved production, the demand for PVA films has also amplified. Thus, based on application, the detergent packaging segment holds a significant market share.

Global Polyvinyl Alcohol Films Market (2024-30): Regional Projections

Geographically, the Global Polyvinyl Alcohol Films Market expands across:

• North America
• South America
• Europe
• The Middle East & Africa
• Asia-Pacific

The Asia-Pacific region has experienced considerable growth in the Polyvinyl Alcohol (PVA) Films Industry. This is primarily because, over the past several decades, the Asia-Pacific region has witnessed remarkable industrial expansion, establishing itself as a vital and dynamic player in the global economy. Manufacturing has been a cornerstone of Asia-Pacific's economic development, with the region emerging as the world's largest manufacturer, specializing in textiles, automotive products, construction goods, etc.

Amidst this rapid industrial advancement, there has been a growing emphasis on environmental responsibility & sustainable practices due to regulatory pressures and corporate sustainability goals. This shift toward sustainability has notably increased the demand for eco-friendly raw materials, such as PVA films. Industries, including packaging, textiles, automotive, and construction, have been at the forefront of this change, slowly adopting biodegradable and water-soluble packaging solutions like PVA films to align with both environmental goals and market expectations for sustainability.

Moreover, as governments across Asia-Pacific countries are trying to improve sustainability across the industrial sectors, they are asking companies to adopt greener practices and reduce their carbon footprint. These efforts are further anticipated to amplify the demand for PVA films across industries in the Asia-Pacific region in the years to come.

Global Polyvinyl Alcohol Films Industry Recent Development:

• In 2023: Kuraray Co., Ltd. has announced its plan to open a new sales organization in Iberia for the sales & marketing of polyvinyl alcohol and its derived products, which will be directly handled by the company.
• In 2022: Cortec Corporation introduced the EcoSol range of PVA films in the market, which is water soluble and can be used across different manufacturing industries for packaging purposes.

Gain a Competitive Edge with Our Global Polyvinyl Alcohol Films Market Report

1. Global Polyvinyl Alcohol Films Market Report by MarkNtel Advisors provides a detailed & thorough analysis of market size & share, growth rate, competitive landscape, and key players. This comprehensive analysis helps businesses gain a holistic understanding of market dynamics & make informed decisions.
2. This report also highlights current market trends & future projections, allowing businesses to identify emerging opportunities & potential challenges. By understanding market forecasts, companies can align their strategies & stay ahead of the competition.
3. Global Polyvinyl Alcohol Films Market Report aids in assessing & mitigating risks associated with entering or operating in the market. By understanding market dynamics, regulatory frameworks, and potential challenges, businesses can develop strategies to minimize risks & optimize their operations.