Page 30 - Plastics News June 2018

FeAtures

PVA Films Market Size Worth $404.1 Million By 2025 | CAGR: 4.9%

PVA Films Market to grow with a CAGR of 4.9% making it $404.1 Million By 2025 says a report

The global PVA films Market is expected to reach USD 33.0% of total market revenue in 2016. However, Asia
404.1 million by 2025, according to a new report by Grand Pacific is expected to be the fastest growing regional
View Research, Inc. Increasing government initiatives to market, at an estimated CAGR of 5.6% from 2017 to
support green packaging is expected to remain key driving 2025.
factor for the market. Volatile raw material prices are • Detergent packaging is estimated to be the largest
expected to be a key challenge to market growth over market in 2016 and is projected to continue its
the forecast period. dominance by 2025, growing at a CAGR of 4.1% from
Detergent packaging emerged as the leading product 2017-2025
segment and accounted for over 30% of total market • The global market for PVA films is highly concentrated
volume in 2016. Detergent packaging is also expected among MonoSol LLC, Kuraray, Nippon Gohsei, Aicello
to be the fastest growing application market for water Chemicals and Sekisuei Specialty Chemicals.
soluble polyvinyl alcohol films, at an estimated CAGR of • Grand View Research has segmented the global
4.2% from 2017 to 2025.
polyvinyl alcohol (PVA) films market report on the
The increasing global population, coupled with growing basis of application and region:
disposable income is offering high purchase power parity Application Outlook (Volume: Tons, Revenue: USD
(PPP) that has resulted in improved standard of living. Million; 2014 - 2025)
This in resulting in additional services being adopted, such
as laundry services in their daily routine. The bags used • Detergent packaging
in laundries are mostly manufactured using PVA films as o Consumer detergent
it becomes easier for disposal. As a result, the booming o Industrial detergent
laundry service industry is projected to contribute to the
growth for polyvinyl alcohol films market. • Agrochemical packaging
Growing hygiene consciousness among the consumers • Laundry bags
coupled with rising standards of living are propelling • Embroidery
demand for detergents. In addition, positive growth
witnessed by the hospitality industry is also contributing • Other
significantly in the demand for detergents. Thereby, Regional Outlook (Volume: Tons, Revenue: USD Million;
supplementing overall demand for PVC films in detergent 2014 - 2025)
packaging industry. Agrochemical packaging is also among • North America
the major demand driver for PVA films in the global market. o U.S.
Agrochemicals such as pesticides, insecticides, herbicides,
fertilizers, and others chemicals are witnessing augmented • Europe
demand in the agricultural sector. Thus, creating lucrative o Germany
growth opportunities for polyvinyl alcohol films during the o UK
forecast period. • Asia Pacific

Further key findings from the report suggest: o China
• The global market for PVA films was USD 263 million o Japan
in 2016 and is expected to reach USD 404.1 million by • Central & South America
2025, growing at a CAGR of 4.9% from 2017 to 2025.
o Brazil
• North America continued its dominance in the global
polyvinyl alcohol films market and accounted for • Middle East & Africa

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