PVC Packaging Materials Market Demand With Top Players Reliance Industries Limited, Palram Industries Ltd., Bilcare Singapore Pte Limited, Jinhua Zhong Bang packaging materials Co., Ltd. and Teknor Apex Company, Inc.

Polyvinyl chloride (PVC) packaging material is used in various end-use industries such as personal care, food and beverages, medical, and others, owing to its properties such as light weight, good impact strength, resistance to oil, grease and chemicals, and others. The high versatility of plastic enables in reuse and recycling.

Key Players

Some of the leading players operating in the global PVC packaging materials market are Reliance Industries Limited, Palram Industries Ltd., Bilcare Singapore Pte Limited, Jinhua Zhong Bang packaging materials Co., Ltd. and Teknor Apex Company, Inc.

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Market Dynamics

PVC packaging requires less fuel to produce as compared to that of other packaging materials such as metal and glass. According to Plastics Europe, the energy required for PET (polyethylene terephthalate) and HDPE (high density polyethylene) was 82.7 GJ (gigajoule) per ton and 76.7 GJ per ton whereas, for PVC was 56.7 GJ per ton. Furthermore, it also protects against contamination by helping to prevent the spread of germs during manufacturing and distribution. These factors are propelling the PVC packaging materials market growth.

Growing demand from processed food is also expected to drive growth of PVC packaging market. This is owing to high use of PVC packaging in processed foods, due to its aforementioned properties. According to U.S. Department of Agriculture, Foreign Agricultural Service, in Germany, the processed food and drinks market was valued at US$ 190 billion in 2016 and the food industry represented the third-largest processing industry in Germany.

Market Trends

Among end-use industry, the food and beverages segment is expected to witness a significant growth in the near future, owing to increasing growth of this industry. According to U.S. Census Bureau, in the U.S., the total food sales in 2016 was US$ 1,594.06 billion. Furthermore, increasing consumer spending on food and drink results in growth of this segment. According to Department for Environment Food & Rural Affairs, the total consumer expenditure on food, drink and catering increased by 0.9% in 2014 to US$ 231.10 billion.

The rigid packaging application segment is expected to show a significant growth in the global PVC packaging materials market over the forecast period. According to Coherent Market Insights’ analysis, the global rigid packaging market was valued at US$ 529.97 billion in 2016 and is expected to exhibit a CAGR of 4.05% during the forecast period (2017-2025).

Market Outlook

Europe holds a significant position in the global PVC packaging materials market growth, owing to growing personal care and cosmetics industry in the region. This is owing to increasing use of PVC in packaging of cosmetic products as these are resistant to oil, grease, and chemicals. According to Cosmetic Europe, cosmetics and personal care industry in Europe was valued at US$ 94.13 billion in 2015 with Germany (US$ 15.89 billion) positioned as the largest market, followed by the U.K. (US$ 14.06 billion), France (US$ 13.94 billion), and Italy (US$ 12.10 billion), respectively.

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Asia Pacific is expected to be the fastest growing region in global PVC packaging materials market over the forecast period. Increasing demand for PVC packaging products in pharmaceutical industry in China and India is one of the factors fueling growth of PVC packaging materials market. According to India Brand Equity Foundation (IBEF), the pharmaceutical industry in India accounted for 2.4% of the global pharmaceutical industry and is expected to expand at a CAGR of 12.89% during 2015 – 2020.

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This release was published on openPR.