Polyvinylidene Chloride (PVDC) Coated Films Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

Polyvinylidene Chloride (PVDC) Coated Films Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

The market for polyvinylidene chloride (PVDC) coated films is expected to register a CAGR of 4% globally during the forecast period.

The Polyvinylidene Chloride (PVDC) Coated Films market was negatively impacted by COVID-19. The price bar of PVDC-coated films and unfavorable conditions arising from the COVID-19 outbreak affected the market's growth. However, the condition recovered in 2021, benefiting the market's growth over the forecast period.

• The major factors driving the market studied are the increasing demand for PVDC-coated films in food packaging and their growing usage in pharmaceutical blister packaging.
• Developing new technologies to recycle film structures involving PVDC is expected to offer various lucrative opportunities for market growth.
• By application, the food packaging segment is expected to dominate the market, owing to the superior properties of PVDC-coated films, such as high chemical resistance, inertness, and low odor.
• Asia-Pacific is expected to dominate the global market, with the largest consumption coming from China, Japan, and India.

• Polyvinylidene chloride, or PVDC, is a clear and flexible synthetic thermoplastic produced by the polymerization of vinylidene chloride.
• It is optically clear with a high degree of gloss and includes outstanding oxygen and moisture barrier properties comparable to metalized films. Also, PVDC is highly resistant to many chemicals, including grease and oil.
• The chemical industry plays an important role in the growth of the polyvinylidene chloride market. Over the three years from 2021 to 2024, the industry is expected to grow in every segment, with overall industry growth expected to be 1.8% in 2024. Basic chemicals are expected to see the largest growth of any chemical segment, at a 2.1% forecast for 2024.
• According to The European Chemical Industry Council, AISBL, the worldwide sales of chemicals increased by 15.2% from USD 3759.89 billion in 2020 to USD 4332.38 billion in 2021. China is the world's largest chemical producer, contributing 43% of global chemical sales, followed by the EU27 chemical industry with 14.7% and the United States coming in third with 10.9%. In 2022, worldwide chemical production grew by 2.7% compared to a 7% growth in 2021.
• In August 2022, chemical production reached 907,639 MT, while petrochemical production reached 1,727,019 MT. The production levels of various chemicals were as follows: Soda Ash: 267,416 MT, Caustic Soda: 283,279 MT, Liquid Chlorine: 203,195 MT, Formaldehyde: 26,842 MT, and Pesticides and Insecticides: 18,881 MT.
• PVDC-coated films are used for packaging food, as they have low stretch and provide excellent bond strength and low water absorption. They also have good cling properties, making them ideal for food wrap applications.
• Several flexible plastic packaging providers are offering packaging solutions owing to the rising consumption of sweets and confectionery, further driving the market's sales. For instance, according to the US Census Bureau, confectionery manufacturing industry revenue in the United States is expected to reach USD 10.89 billion by the end of 2023​.
• Pharmaceutical blister packaging made of PVDC-coated films offers good resistance to water vapor and acts as an effective barrier for oxygen, due to which their application is increasing in blister packaging.
• Hence, owing to the growing food delivery sector and pharmaceutical drug manufacturing, especially in Asia-Pacific, the demand for PVDC-coated films is expected to increase over the forecast period.

• Asia-Pacific is expected to dominate the market for PVDC-coated films during the forecast period. Due to the high demand from countries like China, India, and Japan, the market for PVDC-coated films is growing.
• The largest producers of PVDC-coated films are located in Asia-Pacific. Some leading companies in producing PVDC-coated films are Jindal Poly Films Limited, Unitika Ltd, Cosmo Films Ltd, Zhejiang FUTONG Plastics Packing Co. Ltd, and Perlen Packaging.
• PVDC-coated films also apply to cosmetics packaging, flexible packaging, and labeling. India is now ranked sixth among the world's ten largest chemicals manufacturing countries. The petrochemical industry contributes about 30% of raw materials to the chemical industry, which is expected to reach USD 300 billion by 2025.
• Chemical processing industries such as agricultural, petrochemical, polymer, and refining use polyvinylidene chloride for various applications.
• The Indian chemicals industry is expected to reach USD 304 billion by 2025, registering a CAGR of 9.3%. The demand for chemicals is expected to expand by 9% per annum by 2025. In July 2021, the production of key chemicals volumes stood at 909,310 MT. An investment of USD 107.38 billion is estimated in the Indian chemicals and petrochemicals sector by 2025.
• The factors above, coupled with government support, may contribute to the increasing demand for PVDC-coated films during the forecast period.

The polyvinylidene chloride (PVDC) coated films market is fragmented, with players accounting for a marginal market share. Some major companies include Polinas, Jindal Poly Films Limited, Unitika Ltd, Cosmo Films Ltd, and Perlen Packaging AG.

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support