The global PVC (Polyvinyl Chloride) films market is anticipated to reach a valuation of US$ 19.6 Bn by 2032, with sales growing at a stagnant CAGR of 2.9% from 2022 to 2032. The target market is likely to reach an estimated value of US$ 14.7 Bn by the end of 2022. Increasing demand for strong and durable flexible packaging solutions across diverse industries will augment the global sales of the PVC films market. The target market is predicted to grow 1.3 times its current size and generate an opportunity of US$ 4.9 Bn during the forecast period.
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PVC films are thin thermoplastic films that are strong, durable, affordable, and versatile. These films are available in various forms & finishes. PVC films have good dimensional stability and weather-resistant properties which contribute to the rising popularity of the material. With the emergence of the latest PVC films that address sustainability concerns, the demand for PVC films is expected to escalate in the next few years.
These advanced PVC films are recyclable and contribute to the sustainability footprint. Again, the superior barrier properties of PVC films make them a popular choice across various end-use industries. These films further assist in maintaining the quality and freshness of a given product for a prolonged period. This aspect helps PVC films retain their heightened demand in the food & beverage sector.
Owing to their strong intermolecular interactions, PVC films are available in rigid and flexible formats. This increases their range of applications, raising their demand and contributing to the overall market growth. PVC films are also resistant to abrasion, shock, chemical, and harsh environmental temperatures which appeals to a large portion of end-users. Other factors like the rising need to protect products from external factors, the advancing plastic industry, and the increasing adoption of flexible packaging, particularly in industries like food, beverage, healthcare, home-care, and personal care, facilitate the growth of the PVC films packaging market during the forecast period.
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“Heightened demand for smaller portion packs for food and other items is expected to supplement the global growth of the PVC films market over the forecast period,” says an FMI analyst.
Key Takeaways:
- The PVC films market in India will grow at a CAGR of 5.8%, reaching US$ 805 Mn by 2032.
- The U.S.A’s PVC films market is predicted to grow 1.4 times its current value.
- By packaging level, the secondary packaging segment will hold over 54% of the market share by the end of 2032.
- On the basis of end-use, the food segment will create an opportunity of US$ 2.6 Bn during 2022-2032.
Competitive Landscape
Berry Global Group, Plastatech, Achilles USA, NanYa Plastics Corporation USA, Grafix Plastics, Adams Plastics, Caprihans India Limited, Plastic Film Corporation, Walton Plastics, Tekra, LLC, Jindal Chemical, Avery Dennison Corporation, AVI Global Plast, MYPLAST s.r.o, Ergis Sp. z o.o., Riflex Film AB, Dekofilm Group, Alfatherm, Mondorevive Spa, and Fortune Industries Group Holdings among others are some of the major players in the PVC films market profiled in the full version of the report.
Leading market players are concentrating on increasing their product portfolio to strengthen their market presence. These businesses are keen on expanding their production facilities to meet the escalating demand.
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Competitive Landscape
The key players operating in the PVC films market are trying to focus on expanding their presence, product portfolio, and capabilities to meet the growing demand for flexible packaging solutions.
- In May, Berry Global Group announced its expansion in South Asia by establishing a new facility which will help the company to extend its Research and Development innovation expertise and scale up production to support growing demand.
- In April 2022, Avery Dennison Corporation announced its expansion in India by establishing a state-of-art manufacturing facility to cater to the demand along with optimizing the new technology and leveraging the improved efficiencies.
Key Players:
- Berry Global Group
- Plastatech
- Achilles USA
- NanYa Plastics Corporation USA
- Grafix Plastics
- Adams Plastics
- Caprihans India Limited
- Plastic Film Corporation
- Walton Plastics
PVC Films Market by Category
By Packaging Level, PVC Films Market is Segmented as:
- Primary Packaging
- Secondary Packaging
- Tertiary Packaging
By Product Type, PVC Films Market is Segmented as:
- Pouches
- Bags & Sacks
- Tubes
- Liners
- Sachets & Stick Packs
- Tapes & Labels
- Wraps/Rolls
By End Use, PVC Films Market is Segmented as:
- Food
- Beverages
- Homecare
- Personal Care
- Healthcare
- Electrical & Electronics
- Other Consumer Goods
By Region, PVC Films Market is Segmented as:
- North America
- Latin America
- Europe
- South Asia
- East Asia
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