Major factor driving growth of the global PVDC barrier material market is wide applicability for pac
Posted: Nov 09, 2018
Polyvinylidene chloride or PVDC is a clear and flexible synthetic thermoplastic obtained from the process of polymerization of vinylindene chloride.
Growing adoption of PVDC barrier material from processed food industries as a packaging material is a major factor expected to drive growth of the global PVDC barrier material market in the near future.
However, growing demand for bio-plastic over PVDC barrier material for packaging application is expected to limit growth of the target market over the forecast period.
The global PVDC barrier material market has been segmented on basis of type, application, and region. On the basis of type, the target market is segmented into PVDC resins, PVDC latex, and PVDC solvent. On basis of application, the global PVDC barrier material market is segmented into food packaging and wrap, pharmaceuticals packaging, hygiene and cosmetic products packaging, and others which includes sterilized medical packaging and agriculture packaging. Pharmaceuticals packaging segment dominates the global market in terms of revenue and is expected to maintain its dominance over the forecast period, owing to rising demand for PVDC as an ideal packing material because of its excellent property of resistance to alkali and acids, coupled with ability to give protection for pharmaceutical products from oxygen and odor, moisture, water vapor, contamination, and bacteria.
Based on region, the global PVDC barrier material market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East Africa. The market in Europe was accounted for highest share in terms of revenue in the global market and is projected to maintain its dominance over the forecast period. This can be attributed to rising demand for PVDC barrier material as primary packaging material for medicines, coupled with pharmaceutical products. Also increasing adoption of PVDC barrier material in cosmetics industries for various end-use applications is another factor expected to fuel growth of the target market over the forecast year in the region. The market in North America accounted for second-highest revenue share, owing to growing pharmaceuticals market in the region and is expected to support growth of the PVDC barrier materials market. Furthermore, the market in Europe is projected to witness significant growth over the forecast period, and is expected to register a CAGR of X.X%. Also, the market in Asia Pacific is projected to witness moderate growth over the forecast period.
Prominent players in the global PVDC Barrier Material market include SK innovation Co., Ltd., Kureha Corporation, Asahi Kasei Corporation, Juhua Group Corporation, Solvay S.A., and Zhe Jiang Keguan Polymer Co., Ltd.
Major factor driving growth of the global PVDC barrier material market is wide applicability for packaging in industries such as sterilized medical packaging, and agriculture product packaging, etc. In addition, recent advancements in PVDC barrier material used for various end-use applications such as in cosmetics as well as food processing industries is another factor expected to propel growth of the target market in the near future.
However, availability of various alternatives, coupled with increasing adoption of bio-plastic over PVDC for various end-use applications are major factors retraining growth of the global PVDC barrier material market over the forecast period.
Sumit Khatpe is a content writer at MarketResearch.biz. He creates customized research reports across all markets https://marketresearch.biz/report/biosimilar-monoclonal-antibodies-market/