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PVDC Barrier Material Market segmented on the basis of basis of type, application, and region
PVDC Barrier Material Market
Polyvinylidenechloride (PVDC) is a transparent and colorless thermoplastic, having extremely low permeability to gases. PVDC barrier material can be heat-sealed and serves as an excellent barrier to gases.
Major factor driving growth of the global PVDC barrier material market is wide applicability for packaging in industries such as sterilized medical packaging, and agriculture product packaging, etc
On the basis of product type segmentation, the PVDC resins segment is expected to register highest CAGR of around 4.0% and is expected to maintain its dominance over the forecast period, owing to excellent properties of PVDC resins barrier material which make it ideal for use in food packaging for products with high fat content, strong flavors, and fragrances.
Superior chemical properties possessed by PVDC barrier material such as resistance to alkalis and acids, very low moisture regain, is insoluble in oil and organic solvents, and impervious to mold, bacteria, and insects are major factors boosting adoption of and demand for PVDC barrier material for pharmaceutical packaging applications.
Among the various regions, the market in Europe has been estimated to account for highest revenue share, and is expected to continue its dominance during the forecast period. This can be attributed to increasing demand of PVDC barrier material as primary packaging material for various types of medicines and products from pharmaceutical sector, owing to its excellent characteristics properties such as moisture resistance, and helps to protect against odor, water vapor, and bacteria.
In addition, medical spending in the US has increased significantly in the past few years, and this trend is expected to continue and in turn boost market growth over the forecast period.
Rising demand for healthcare services owing to a rapidly growing aging population and increase in number of affluent consumers seeking better quality medical services in the country are among some primary factors expected to drive growth of the pharmaceutical market, and in turn support growth of China PVDC barrier market over the forecast period.
Presence of prominent international players such as Solvay S.A., Kureha Corporation, SK Innovation Co., Ltd., Juhua Group Corporation, and Zhe Jiang Keguan Polymer Co., Ltd., coupled with significant presence of domestic vendors in the region are other factors boosting growth of the China PVDC barrier material market to a significant extent currently.
Moreover, increasing purchasing power, changing lifestyle, and growing demand for ready-to-eat food products are other major factors expected to boost growth of the India market over the forecast period.
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The market in Southeast Asia is expected to register moderate growth rate in the global PVDC barrier material market over the forecast period. This can be attributed to rapid growth in industrial and agriculture sectors, along with rising demand for lightweight packaging especially from food, pharmaceutical, and automotive industries.
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