Dublin, Sept. 19, 2023 (GLOBE NEWSWIRE) -- The "Polyvinyl Alcohol Films Market Size, Share & Trends Analysis Report By Application (Detergent Packaging, Agrochemical Packaging, Laundry Bags, Embroidery), By Region, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global polyvinyl alcohol films market is on a trajectory to reach an impressive USD 615.8 million by 2030, driven by a robust compound annual growth rate (CAGR) of 5.4% from 2023 to 2030.
The surge in demand for sustainable packaging, fueled by its landfill-reducing capabilities and alignment with stringent packaging regulations, has become a pivotal factor in this growth. Sustainable packaging solutions are gaining traction for their safety, performance, and convenience benefits in product packaging.
Polyvinyl alcohol (PVA) films, recognized for their eco-friendly properties, have made significant contributions to the flourishing sustainable packaging industry. Government initiatives worldwide to bolster green packaging practices are poised to play a pivotal role in propelling market growth. However, volatile raw material prices pose a key challenge to the market's expansion during the forecast period.
The global population's growth and increased disposable income, leading to enhanced Purchase Power Parity (PPP) and improved living standards, have prompted the adoption of additional services like laundry services. PVA films are the preferred choice for manufacturing laundry bags due to their ease of disposal. Consequently, the booming laundry service industry is expected to be a driving force behind the market's steady growth.
Rising consumer hygiene awareness and improved living standards are generating heightened demand for detergents. The hospitality industry's growth is also significantly contributing to detergent production, subsequently boosting the overall demand for PVA films in detergent packaging.
Furthermore, the agrochemical sector is a key driver for the market. The agricultural industry's increasing demand for agrochemicals, including pesticides, insecticides, herbicides, fertilizers, and other chemicals, is creating lucrative growth opportunities for PVA films.
Companies Mentioned
- Aicello Corporation
- Changzhou Water Soluble Co., Ltd.
- Mitsubishi Chemical Corporation
- Kuraray Co., Ltd.
- Arrow GreenTech Ltd.
- Cortec Corporation
- AMC (U.K.) Ltd.
- MSD Corporation
- Sekisui Chemical Co., Ltd.
- Chang Chun Group
Polyvinyl Alcohol Films Market Report Highlights:
- The global market reached USD 403.69 million in 2022 and is set to grow at a CAGR of 5.4% from 2023 to 2030.
- Detergent packaging leads as the primary product segment, expected to expand steadily at a CAGR of 5.9% throughout the forecast period.
- North America stands as the largest regional market for PVA films, projected to maintain its dominance.
- Asia Pacific is forecasted to register substantial growth with a CAGR of 6.0% from 2023 to 2030 in terms of revenue.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 91 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $403.69 Million |
| Forecasted Market Value (USD) by 2030 | $615.8 Million |
| Compound Annual Growth Rate | 5.4% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Polyvinyl alcohol (PVA) Films: Market Variables, Trends, and Scope
3.1 Market Lineage Outlook
3.2 Penetration & Growth Prospect Mapping
3.3 Industry Value Chain Analysis
3.4 Regulatory Framework Analysis
3.5 Market Dynamics
3.5.1 Market Driver Analysis
3.5.1.1 Growth in demand for sustainable packaging products
3.5.1.2 Massive demand arising from Asia Pacific
3.5.2 Market Restraint Analysis
3.5.2.1 Volatile Raw Material Prices
3.6 Porter's Analysis
3.7 Pestel Analysis
Chapter 4 Polyvinyl Alcohol (PVA) Films Market: Application Estimates & Analysis
Chapter 5 Polyvinyl Alcohol (PVA) Films Market: Regional Estimates & Analysis
Chapter 6 Polyvinyl Alcohol (PVA) Films: Competitive Analysis
Chapter 7 Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/ud2s3g
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