Polyvinyl Alcohol Films Market Trends, Growth Forecast 2019 – 2024
According to a new research report by Global Market Insights, Inc. Polyvinyl Alcohol (PVA) Films Market size is set to exceed USD 9 billion by 2024. Rising consumer awareness to maintain a hygienic and clean environment is the key driving factor for detergent market. The hospitality industry including hotels, malls, food outlets, entertainment remain a large demand source for detergent powder to maintain a posh and attractive ambience for their customers, which translates in the packaging sector. Restrictions on materials used for packaging, and the awareness regarding the use of biodegradable materials for packaging has led to the boost in the global polyvinyl alcohol films market.
Robust growth indicators for insecticides, pesticides, fertilizers and other agrochemicals have intensified the need to inert packaging materials. Polyvinyl alcohol films market adoption as a packaging material for agrochemicals is expected to drive growth during the forecast period.
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Polyvinyl alcohol films market application for electronic products such as LCD panels, cellphones, optical filters will remain strong. Electronic waste is a key concern that causes health issues due to their harmful radiations emissions. so, there is a need of an alternative biodegradable solution in these electronic products that has surged the polarized PVA films market in recent years.
Detergent packaging application segment of water soluble PVA films is forecast to account for maximum share of nearly 35% of all the applications segment. The upsurge in the demand for detergents in the hospitality, industrial, residential and commercial sector has bolster the PVA films market.
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North America is anticipated to dominate the water soluble polyvinyl alcohol (PVA) films market with more than 5,000-ton consumption in 2015. Strong industrial production indicators fueling factors for growth.
Asia Pacific is projected to have the maximum polyvinyl alcohol films market share in terms of volume in the global polarized PVA films market. Countries like South Korea, Japan and China are having a flourishing electronic market. These countries supply electronic products such as LCD panel, cellular phones, and sunglasses to the global electronic market.
Global water soluble PVA films market share is consolidated in nature and is dominated by major companies like Monosol LLC, Sekisui Specialty Chemicals, Nippon Gohsei that accounts for nearly 65% of global market share. Other manufacturers in the market includes Aicello Chemicals, Jiangmen Proudly Water Soluble Plastic Co, Changzhou Water Soluble Co Ltd.
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Companies manufacturing polarized PVA films in the global market includes Kurray and Nippon Gohsei; while LCD panel applications are expected to remain dominant in the forecast period with a growth rate of 4.8%.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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