- The growth of polyvinyl alcohol films market is ascribed to the rising demand for top-quality packaging products and increasing investments towards producing innovative packaging solutions, says this report
SELBYVILLE, Del., July 30, 2020 /PRNewswire/ -- Based on Global Market Insights Inc., report, the polyvinyl alcohol films market was estimated at $290 million in 2019 and is slated to exceed $430 million by 2026, registering a CAGR of 5.5% from 2020 to 2026. The report provides a thorough analysis of the main investment avenues, major winning strategies, drivers and opportunities, wavering industry trends, market estimations as well as size, competitive scenarios.
The market demand for polyvinyl alcohol solutions is expected to grow tremendously due to the rising use of PVA films to manufacture durable packaging solutions. Furthermore, as the demand for green packaging solutions increases alongside growing sustainability measures, the PVA films is further expected to register revenue growth.
Based on application, increasing demand for innovative and durable packaging solutions and growing competition in detergent industry is likely to drive the polyvinyl alcohol films market share. Innovative packaging solutions in detergent packaging will prove to be beneficial for the market.
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Key reasons for polyvinyl alcohol films market growth:
- Growing demand for higher quality packaging solutions.
- Increasing demand for durable sunglasses in sports applications.
- Rising use of durable and aesthetically pleasing plastic in electronics industry.
2026 forecasts anticipate the 'LCD' application segment showing appreciative growth:
LCD segment is likely to exceed a valuation of $9 billion by the end of analysis timeline due to increasing demand for high-performance and durable LCD solutions. Several market players are increasingly investing towards new product development and augmenting indigenous technology capabilities to produce higher-quality LCD solutions. Moreover, rising high miniature LCD solutions demand in electronics coupled with changing technological trends will further encourage the polyvinyl alcohol films market growth.
Asia-Pacific & North America to witness remunerative growth:
On the regional front, Asia Pacific polyvinyl alcohol films market is slated to grow with CAGR of over 6.5% through the forecast timeframe due to the rising demand for economical as well as sustainable packaging solutions. PVA films are also extensively used to manufacture packaging solutions for agrochemicals and detergents due to their vulnerability to environmental aggressors. Moreover, market players in the region are increasingly adopting these solutions to stay competitive in the industry landscape and consolidate their brand equity.
In 2019, the North America polyvinyl alcohol films industry size exceeded a valuation of $95 million. The region is observing rising demand for powdered detergents from the laundry segment. Furthermore, increasing urbanization and rising disposable income levels across the middle class have led to a growth in customer preference when it comes to laundry services.
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Leading market players:
Prominent market players analyzed in the polyvinyl alcohol films industry report include MonoSol LLC, Nippon Gohsei, Jiangmen Proudly Water Soluble Plastic, Aicello Chemicals, Sekisui Specialty Chemicals, and Changzhou among others. They have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to heighten their stand in the industry.
About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
GMIPulse, our business analytics platform offers an online, interactive option of exploring our proprietary industry research data in an easy-to-use and dynamic manner. Clients get to explore market intelligence across 11 top level categories and hundreds of industry segments within them, covering regional, company level and cross-sectional statistics that make our offering a stand-out for decision makers.
SOURCE Global Market Insights, Inc.