Projecting Prosperity: PVDC Coated Films Market Set to Reach USD 12.3 Billion by 2028 with a 4.6% CAGR, Finds Research Analysis

The PVDC coated films market is poised for growth, with an estimated valuation of USD 9.4 billion in 2022 projected to ascend to USD 12.3 billion by 2028, manifesting a Compound Annual Growth Rate (CAGR) of 4.6% from 2022 to 2028.

Amidst the pandemic-induced sluggish demand, the PVDC-coated films sector is anticipated to gradually rebound, especially in the food category. By 2022, this segment is expected to reach USD 4.6 billion, exhibiting a 4.8% CAGR in value over the forecast period.

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The U.S. PVDC coated films market is anticipated to defy initial pandemic-related uncertainties, displaying a 3.2% year-over-year growth during the forecast period, reaching USD 2.3 billion in 2022 in North America.

Notably, the food and pharmaceutical industries are witnessing heightened demand for PVDC coated films due to their superior barrier properties against gases and water vapor. In the food sector, these films are projected to hold almost half of the market share during 2022-2028. By ensuring extended shelf life and enhancing aroma and taste, PVDC coated films align with consumers' concerns and preferences.

The Asia Pacific region, excluding Japan, particularly China and India, is positioned to drive substantial growth in the PVDC coated films market. Together, these countries are projected to contribute an incremental opportunity of USD 1.1 billion by 2028.

PVDC-coated films have a wide range of applications across the food & beverage industry owing to their ability to increase the product shelf life by shielding the product from moisture, and ultraviolet (UV) radiation. On account of this, the market is projected to reach US$ 12.3 Bn by the end of 2028.

Further, these films are extensively being used as packaging solutions for products such as wafers, cheese, biscuits, meat, poultry, and others. Hence, increasing demand for the aforementioned products is anticipated to create immense growth opportunities in the market.

Among the substrate material type, the polypropylene segment is projected to outpace the other segments, accounting for around 33.2% of the total sales in 2022. Increasing use of polypropylene films across the cosmetic & personal care sector, owing to its excellent barrier properties to corrosion, pollutants, chemicals, and moisture is driving the growth in the segment.

"Surging demand for high barrier packaging films across the pharmaceutical industry and shifting customer preference towards adoption of bioplastic materials for packaging applications is expected to create a conducive environment for PVDC coated films market growth," says an FMI analyst.

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.

Competitive Landscape

Leading manufacturers in global PVDC coated films market are focusing on increasing their production capacity to address the increasing demand across diverse industries. Besides this, some of the key players are aiming at expanding their product portfolio to strength their footprint in the market.

In January 2021, Neschen, a leading self-adhesive media and coating solutions manufacturer announced launching a specially designed a coated polypropylene (PP) film with HP Indigo ElectroInk and water-based inks for food and beverage applications. The strategy will assist the company to expand its market share across food & beverage sector.

In September 2020, KM Packaging, a prominent lidding films and flexible packaging supplier, announced introducing a new range of mono-polymer material lidding films which are recyclable and made from polypropylene (PP). This product launch will assist the company to strengthen its footprint across sustainable packaging sector.

Some of the key players operating in the market profiled by FMI are:

Kureha Corporation
Jindal Poly Films Limited
Cosmo Films Ltd
Bilcare Limited
Glenroy, Inc.
Vibac Group S.p.A.
Innovia Films
Polinas Corporate
Klöckner Pentaplast
CCL Industries Inc.
CPH Chemie & Papier Holding AG
SKC Co., Ltd

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More Valuable Insights on PVDC Coated Films Market

A new report published by FMI offers an in-depth analysis of the global PVDC coated films market, uncovering vital dynamics accelerating the market growth between 2021 and 2031. The survey also forecast sales projections for PVDC coated films market with detailed segmentation:

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

By Region:

North America
Latin America
Eastern Europe
Western Europe
Asia Pacific excl. Japan
Japan
Middle East and Africa (MEA)

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About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.

This release was published on openPR.