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 Industry. 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.
With regard to the packaging hierarchy, it is anticipated that the secondary packaging segment will claim a substantial share, comprising approximately half of the market share by the conclusion of 2022. This prominence can be attributed to the growing favorability of flexible secondary packaging across diverse end-use industries.
The surge in demand for robust and long-lasting flexible packaging solutions across various end-use industries is expected to be a significant driver in boosting the sales of PVC films during the forecast period. Projections indicate that the PVC Films Industry is poised to witness a substantial 1.3-fold increase in its market value from 2022 to 2032. This growth underscores the pivotal role that PVC films play in meeting the evolving needs of diverse industries.
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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.
Drivers:
- High Strength and Durability: PVC films are known for their strength and durability, making them a preferred choice for industries that require robust and long-lasting packaging solutions.
- Versatility: PVC films can be tailored to suit various end-use industries, from packaging to construction. Their adaptability and customization options are strong drivers of their demand.
- Wide Range of Applications: PVC films find applications in diverse sectors, including packaging, building and construction, automotive, and healthcare, expanding their market reach.
- Cost-Effectiveness: PVC films are often a cost-effective solution, providing value for money for businesses seeking efficient packaging or construction materials.
Restraints:
- Environmental Concerns: PVC films are associated with environmental concerns due to their production process and limited recyclability. Increasing environmental regulations and consumer demand for sustainable alternatives can pose challenges to the PVC film industry.
- Health and Safety Issues: The production and disposal of PVC films can raise health and safety concerns due to the release of chlorine gas and the potential presence of phthalates. This can lead to regulatory hurdles and consumer apprehensions.
- Competition from Alternatives: PVC films face competition from alternative materials, such as biodegradable films, recyclable plastics, and sustainable packaging solutions. Changing consumer preferences and regulations can influence the choice of materials.
- Regulatory Compliance: The PVC film industry must adhere to evolving regulatory standards and safety requirements, which can be a source of complexity and potential cost increases in production and disposal.
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Key Takeaways:
- The PVC Films Industry in India will grow at a CAGR of 5.8%, reaching US$ 805 Mn by 2032.
- The U.S.A’s PVC Films Industry 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 Industry 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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More Insights into PVC Films Industry Report
In its latest report, FMI offers an unbiased analysis of the global PVC Films Industry, providing historical data from 2015 to 2021 and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented on the basis of packaging level (primary packaging, secondary packaging, tertiary packaging), product type (pouches, bags & sacks, tubes, liners, sachets & stick packs, tapes & labels, wraps & rolls), end use (food, beverages, home-care, personal care, healthcare, electrical & electronics, other consumer goods), and region.
According to the latest FMI reports, based on segmentation, the secondary packaging level segment is anticipated to account for a major portion of the share. Owing to the rising need to prevent product damage, the secondary packaging segment will hold over 54% of the overall market share. In terms of application, the food & beverages sector will likely lead the market growth and generate an opportunity of US$ 2.6 Bn during the projected period.
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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