[219 Pages Report] The PVDC coated films market is estimated at USD 9.4 billion in 2022 and is projected to reach USD 12.3 billion by 2028, at a CAGR of 4.6% from 2022 to 2028.Despite sluggish demand during COVID-19, demand for PVDC coated films will increase from 2021 onwards, albeit slowly, in the food category, which is expected to reach US$ 4.6 billion in 2022. In terms of value, the same segment is expected to grow at a CAGR of 4.8% over the forecast period.
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The FMI team also predicts that the U.S. PVDC coated films market would grow by 3.2% year over year during the forecast period, defying initial uncertainty about how the market would perform during a global pandemic. Total PVDC coated films sales in North America is expected to reach US$ 2.3 billion in 2022.
Factors Driving Revenue Growth of the PVDC Coated Films Market
One of the main factors boosting demand for PVDC coated films is their environmentally friendly feature. PVDC coated films have a low environmental impact. Manufacturers need to comply with stringent regulatory laws pertaining to sustainability and are focussed on reducing the carbon footprint. PVDC coated films have low carbon dioxide emission levels as compared to other high barrier films and contribute to the prevention of global warming.
PVDC coated films are also low-impact materials and facilitate lower consumption of energy, thereby contributing to energy conservation. These factors are acting in favour of the global PVDC coated films market growth. Another significant driver of growth of the PVDC coated films market is the sustained demand for blister packaging in the pharmaceuticals industry in developed as well as emerging economies.
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Competitive Landscape
The key manufacturers operating in PVDC coated films market are trying to focus on increasing their production capacity to meet the increasing demand for PVDC coated films. Moreover, the key players are increasing their product portfolio to cater for the growing PVDC coated films market.
- In January 2021, a company named Neschen, an expert substrate manufacturer has introduced and specially designed a coated polypropylene (PP) film for use with water-based inks and HP Indigo ElectroInk.
- In September 2020, a lidding films and flexible packaging supplier named KM Packaging, the company introduced a new range of mono-polymer material lidding films which is originated for recyclability and which is made from polypropylene (PP).
PVDC Coated Films Market by Category
By Substrate Material:
- Polyethylene (PE)
- Polyethylene Terephthalate (PET)
- Polyvinylchloride (PVC)
- Polypropylene (PP)
- Polyamide (PA)
By Application:
- PVDC Coated Films for Laminates
- PVDC Coated Films for Wraps
- PVDC Coated Films for Lidding Films
- PVDC Coated Films for Pouches & Bags
- PVDC Coated Films for Blisters
By End Use:
- Food
- Fruits & Vegetables
- Meat, Poultry & Seafood
- Bakery & Confectionery
- Ready-to-Eat
- Dairy Products
- Healthcare & Pharmaceuticals
- Cosmetics & Personal Care
- Others
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