Global Polyvinyl Alcohol (PVA) Films Market Report and Forecast 2023-2028

Global Polyvinyl Alcohol (PVA) Films Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the global polyvinyl alcohol (PVA) films market reached a value of USD 371.75 million in 2022. Aided by the expanding packaging industry and the versatile applications of PVA films in various sectors, the market is projected to further grow at a CAGR of 5.5% between 2023 and 2028 to reach a value of USD 513.1 million by 2028.

Polyvinyl alcohol films, often abbreviated as PVA films, are water-soluble biodegradable films and are extensively employed in various applications such as water-soluble packaging and polariser films for LCD panels. One of the primary attributes of PVA films is their environmentally friendly nature, which allows them to degrade without leaving any harmful residues, making them highly sought after in the current eco-conscious market landscape.

A significant factor driving the polyvinyl alcohol (PVA) films market growth is the escalating demand from the packaging industry. With rising environmental concerns and the global outcry against single-use plastics, industries are rapidly shifting towards sustainable packaging solutions. PVA films, due to their water-soluble and biodegradable nature, are being increasingly adopted as an environmentally friendly alternative to conventional plastic packaging, especially for single-use applications in sectors like agriculture, laundry, and food.

As per the polyvinyl alcohol (PVA) films market analysis, the electronics industry, particularly the LCD panel segment, is making extensive use of PVA films. Owing to their high polarisation properties, these films are critical in manufacturing LCD panels, thus driving up demand in tandem with the electronics market growth.

Fitness and wellness trends have also indirectly influenced the PVA film market. As more consumers lean towards health and fitness routines, there's been an increase in the consumption of unit-dose detergents for laundry, which use water-soluble PVA films and further increases the polyvinyl alcohol (PVA) films market size. This trend is further accelerated by the growing number of small households and the need for convenience. Furthermore, innovations in the pharmaceutical industry have led to the exploration of PVA films as potential carriers for drug delivery systems, opening a new avenue for market growth.

Research and development in the sector are yielding films with enhanced properties and functionalities, expanding their potential applications and further propelling the polyvinyl alcohol (PVA) films market demand. Moreover, the ongoing global drive towards sustainability and reducing plastic waste presents a golden opportunity for PVA films as a solution to the global plastic crisis.

Market Segmentation

The market can be divided based on type, grade, application, end use, and region.

Market Breakup by Type

• Water-Soluble
• Polariser
• Others

Market Breakup by Grade

• Fully Hydrolysed
• Partially Hydrolysed
• Sub-Partially Hydrolysed
• Low Foaming Grades
• Others

Market Breakup by Application

• Detergent Packaging
• Agrochemical Packaging
• Laundry Bags
• Embroidery
• Others

Market Breakup by End Use

• Automotive
• Paper Industry
• Construction
• Electronics
• Medical
• Aerospace
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global polyvinyl alcohol (PVA) films market. Some of the major players explored in the report by Expert Market Research are as follows:

• Aicello Corporation
• Mitsubishi Chemical Corporation
• Nippon Gohsei UK Limited
• Arrow GreenTech Ltd.
• KURARAY Co., Ltd.
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.