PVDC coated films market is estimated at USD 9.4 billion in 2022 | Future Market Insights, Inc.
The PVDC coated films market is estimated at USD 9.4 billion in 2022 and is projected to reach USD 12.3 billion by 2028, at a CAGR of 4.6% from 2022 to 2028.
Despite sluggish demand during COVID-19, demand for PVDC coated films will increase from 2021 onwards, albeit slowly, in the food category, which is expected to reach US$ 4.6 billion in 2022. In terms of value, the same segment is expected to grow at a CAGR of 4.8% over the forecast period.
The FMI team also predicts that the U.S. PVDC coated films market would grow by 3.2% year over year during the forecast period, defying initial uncertainty about how the market would perform during a global pandemic. Total PVDC coated films sales in North America is expected to reach US$ 2.3 billion in 2022.
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Key Takeaways from PVDC Coated Films Market Study
- The U.S. is forecast to project the fastest growth in North America, accounting for around 85% of the regional demand in 2022.
- Germany is projected to emerge as a highly remunerative market in Western Europe, contributing nearly 28% of the sales in 2021.
- Japan PVDC coated films market is forecast to account for 24% of the revenue share in East Asia, exhibiting sales at 4.1% CAGR over the assessment period.
- India is expected to hold a significant share in the Asia Pacific excluding Japan market, owing to the increasing demand for eco-friendly packaging solutions in the country.
- In terms of application, the pouches & bags segment is estimated to hold 36% of the total market share, expanding at 5.2% CAGR between 2022 and 2028.
Key Drivers
- Introduction of chlorine-free and biodegradables PVDC coated films for packaging applications to decrease the environmental impact is favoring the growth in the market.
- Increasing use of PVDC coated films for packaging products such as body lotions, shampoo, serums, face creams, and others owing to its out shading barrier properties is propelling the demand in the personal care and cosmetics industry.
Key Restraints
- Presence of chlorine in the PVDC coated film’s chemical composition turns the films yellow with time and makes them prone to cracking after a certain period of time. Hence, manufacturers are shifting towards the adoption of better alternatives which is hampering the growth in the market.
- High cost of production and implementation of strict regulations towards the use of plastic such as polypropylene (PP), polyvinylchloride (PVC), and polyethylene terephthalate (PET) is restraining the sales of PVDC coated films.
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Competitive Landscape
The key manufacturers operating in PVDC coated films market are trying to focus on increasing their production capacity to meet the increasing demand for PVDC coated films. Moreover, the key players are increasing their product portfolio to cater for the growing PVDC coated films market.
- In January 2021, a company named Neschen, an expert substrate manufacturer has introduced and specially designed a coated polypropylene (PP) film for use with water-based inks and HP Indigo ElectroInk.
- In September 2020, a lidding films and flexible packaging supplier named KM Packaging, the company introduced a new range of mono-polymer material lidding films which is originated for recyclability and which is made from polypropylene (PP).
PVDC Coated Films Market by Category
By Substrate Material:
- Polyethylene (PE)
- Polyethylene Terephthalate (PET)
- Polyvinylchloride (PVC)
- Polypropylene (PP)
- Polyamide (PA)
By Application:
- PVDC Coated Films for Laminates
- PVDC Coated Films for Wraps
- PVDC Coated Films for Lidding Films
- PVDC Coated Films for Pouches & Bags
- PVDC Coated Films for Blisters
By End Use:
- Food
- Fruits & Vegetables
- Meat, Poultry & Seafood
- Bakery & Confectionery
- Ready-to-Eat
- Dairy Products
- Healthcare & Pharmaceuticals
- Cosmetics & Personal Care
- Others
