According to a new market report from Transparency Market Research, Polyvinyl alcohol (PVA) Films Market by Application (Water Soluble Packaging & Polarizer) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018, the global PVA films demand for water soluble applications was 16,027 tons in 2011 and is expected to reach 20,628.3 tons by 2018, growing at a compound annual growth rate (CAGR) of 3.7% from 2012 to 2018. In terms of revenue, the market was valued at $208.9 million in 2011 and is expected to grow at a CAGR of 4.8% from 2012 to 2018.
The global market for PVA films used in polarizer applications was 225.5 million square meters in 2011 and is expected to reach 301.3 million square meters by 2018, growing at a CAGR of 4.3% from 2012 to 2018. In terms of revenue, the market was valued at USD 4.8 billion in 2011 and is expected to reach USD 6.8 billion by 2018, growing at a CAGR of 5% from 2012 to 2018.
Increasing government initiatives to support green packaging coupled with the biodegradable nature of PVA films is expected to drive demand over the next five years. Water soluble PVA films are used for packaging across various industries and the growing acceptance of PVA films for water soluble packaging is boosting demand. However, volatility in vinyl acetate monomer (VAM) prices has emerged as a key inhibitor to market growth. Pioneer companies in the PVA films market such as MonoSol LLC have been conducting extensive R&D activities in order to explore novel applications for PVA films. MonoSol LLC is currently developing food packaging grade for PVA films, which the company states is nonhazardous in nature.
Water soluble PVA films are majorly used for detergent and agrochemical packaging across the globe and together accounted for over 66% of the total water soluble PVA films consumed. Detergent packaging is a fast growing application segment for PVA films, growing at a CAGR of 4% from 2012 to 2018. The growing acceptance for small packets of detergents to minimize skin contact is one of the key factors driving the PVA films demand for detergent packaging. Other applications of water soluble PVA films include manufacturing of laundry bags, embroidery, and pet waste bags.
Source: Transparency Market Research