The global polyvinyl alcohol films market size is anticipated to reach USD 530.5 million by 2027, according to a new report by Grand View Research, Inc. It is projected to register a CAGR of 5.4% over the forecast period. High demand for sustainable packaging on account of its ability to laid aid in reducing landfills and compliance with stringent regulations related to packaging along with safety, performance, and convenience are the factor expected bode well for the market growth.

Polyvinyl alcohol film is widely utilized as an environment-friendly polymer and has contributed significantly to the growth of sustainable packaging industry. Increasing government initiatives to support green packaging is also expected to be key driving factor for the PVA films market. However, volatile raw material prices are expected to be a key challenge for the growth over the forecast period.

Increasing global population, coupled with growing disposable income is offering high Purchase Power Parity (PPP) that has resulted in an improved standard of living is resulting in adoption of services such as laundry services. The bags used in laundries are mostly manufactured using PVA films as it becomes easier for the disposal. As a result, the booming laundry service industry is projected to contribute to the steady growth of polyvinyl alcohol (PVA) films market.

Growing hygiene consciousness among consumers coupled with rising standard of living is propelling demand for detergents. In addition, growth witnessed by the hospitality industry is also contributing significantly to the production of detergents. This, in turn, supplementing overall demand for PVA films in the detergent packaging industry.

Agrochemical packaging is one of the key driver for the market. Agrochemicals such as pesticides, herbicides, insecticides, fertilizers and other chemicals are witnessing augmented demand in agricultural sector. Thus, creating lucrative growth opportunities for polyvinyl alcohol films during the forecast period.

Further key findings from the repot suggest:

  • Detergent packaging emerged as the prominent product segment and accounted for more than 36% of total market revenue in 2019
  • In United States, demand for PVA films in the detergent packaging applications was valued at USD 39.29 Million in 2019. Demand for detergent packaging is primarily driven by growing penetration of automatic washers in the country
  • Prominent players operating in the market are Nippon Synthetic Chemical Industry Co., Ltd., Kuraray Co., Ltd., and Sekisui Chemical Co., Ltd.