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 Overview

The global polyvinyl alcohol films market size was valued at USD 403.69 million in 2022and is expected to grow at a compound annual growth rate (CAGR) of 5.4% from 2023 to 2030. Increasing waste disposal problems, coupled with stringent environmental regulations, are driving the need for biodegradable raw materials in the packaging industry. This factor is expected to drive the demand for PVA films, particularly in the packaging industry. PVA films are environment-friendly and they do not release toxic gasses upon incineration. The overall market for laundry bags applications is expected to expand at a CAGR of 5.1% from 2023 to 2030. Developments in the packaging industry, particularly for detergents and agrochemicals in countries such as India, and Taiwan, are expected to develop the demand for polyvinyl alcohol films in Asia Pacific. Increasing application from various end-use industries is expected to drive the demand for detergent.

Green packaging initiatives in developed regions, such as North America and Europe are anticipated to increase consumption of the application in these regions. Growing environmental concerns owing to hazards caused by the disposal of electronic applications are expected to drive the market growth.

Water-soluble films are suitable for manufacturing bags for detergents, agrochemicals, concrete additives, and laundry. The films are characterized as green packaging material. Water soluble films are majorly preferred in detergent packaging applications owing to their non-hazardous and non-toxic properties.

The detergent packaging segment has been further segmented into consumer detergent and industrial detergent. Developing economies are among the prominent producers of the product for consumer and industrial applications. As a result, China is expected to provide lucrative growth opportunities to PVA film manufacturers.

The steady penetration of washing machines in developing economies, such as China and India is likely to be a key factor driving the demand for PVA films in consumer detergent packaging applications. Growing application in the agricultural industry is expected to provide immense opportunities for industry participants. However, fluctuating petrochemical prices are responsible for unstable PVA film pricing over the past few years.

Application Insights

Detergent packaging was the dominant application using water-soluble films over the past few years. It is estimated to continue to expand steadily at a CAGR of 5.9% over the forecast period. Detergent packaging includes household and industrial detergents to be used without the user making any contact with them.Detergent packaging is expected to be the fastest-growing application over the forecast period and is an attractive segment for industry participants.

Water-soluble films in embroidery application are still at their nascent stage and are expected to register a CAGR of 4.4% from 2023 to 2030. Their usage in embroidery increases the dimensional stability of the materials, whereas their usage in laundry bags eliminates contamination problems, particularly in the medical industry.

Regional Insights

North America was the largest regional market for PVA films and is expected to continue its dominance over the forecast period. The region is expected to register a moderate growth rate over the forecast period for water-soluble applications. Increasing detergent demand from various end-use industries such as hospitals, restaurants, hotels, and domestic sectors is expected to drive regional market growth.

Europe is one of the prominent markets for agrochemicals and is also one of the fastest-growing exporters of food grains. The rising demand for food and the need for food safety in Europe are the factors expected to boost the demand for agrochemicals. This, in turn, is anticipated to fuel the demand for PVA films over the forecast period.

Asia Pacific is expected to register a significant CAGR of 6.0% from 2023 to 2030 in terms of revenue. The agrochemical packaging segment is one of the prominent contributors in the growth of the Asia Pacific region owing to the increasing demand for agrochemicals in the region.

Key Companies & Market Share Insights

The market is expected to witness growth in light of the rising demand for environment-friendly products, which help avoid harmful ecological as well as health impacts. The market is highly competitive and is characterized by the presence of medium and large-scale manufacturers. Producers attain economies-of-scale as the raw materials are available at relatively lower prices and the plants are located in close vicinity to the raw material suppliers.

Key manufacturers of polyvinyl alcohol films include Nippon Synthetic Chemical Industry Co., Ltd., Kuraray Co., Ltd., and Sekisui Chemical Co., Ltd. During the past few years, the global market has observed a considerable rise in the production capacity of PVA films. Global companies such as Kuraray Co., Ltd., and The Nippon Synthetic Chemical Industry Co., Ltd. expanded production of water-soluble plastic films made from polyvinyl alcohol. The expansion was aimed at meeting the ascending demand for the aforementioned films globally. Some of the prominent players in the global polyvinyl alcohol films market include:

• Aicello Corp.

• Changzhou Water Soluble Co., Ltd.

• Arrow GreenTech Ltd.

• Mitsubishi Chemical Corp.

• Kuraray Co., Ltd.

• Cortec Corp.

• AMC (U.K.) Ltd.

• MSD Corp.

• Sekisui Chemical Co., Ltd.

• Chang Chun Group

Polyvinyl Alcohol Films Market Report Scope

Global Polyvinyl Alcohol Films Market Report Segmentation

This report forecasts revenue and volume growth at global, regional & country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global polyvinyl alcohol films market report based on application and region:

• Application Outlook (Volume, Tons; Revenue, USD Million, 2018 - 2030)

  • Detergent Packaging

    • Consumer detergent

    • Industrial detergent

  • Agrochemical packaging

  • Laundry bags

  • Embroidery

  • Others

• Regional Outlook (Volume, Tons; Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

  • Europe

    • Germany

    • U.K.

  • Asia Pacific

    • China

    • India

    • Japan

  • Central & South America

    • Brazil

  • Middle East & Africa