Polyvinyl Alcohol Films Market worth $577 million by 2028 Globally, at a CAGR of 6.1%, says MarketsandMarkets™

/EIN News/ -- Chicago, Dec. 03, 2023 (GLOBE NEWSWIRE) -- The Polyvinyl Alcohol Films Market size is projected to grow from USD 429 million in 2023 to USD 577 million by 2028, registering a CAGR of 6.1% during the forecast period, as per the recent study by MarketsandMarkets™. The increasing demand for polyvinyl alcohol films is driven by their eco-friendliness, versatility, and barrier properties. These films find applications in packaging, textiles, and agriculture due to their biodegradability and effective protection against moisture and oxygen, aligning with the growing global focus on sustainability and product preservation.

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Browse In-Depth TOC On "Polyvinyl Alcohol Films Market”

207 - Market Data Tables
45 - Figures
221 - Pages

List of Key Players Polyvinyl Alcohol Films Market:

1. Kuraray Co. (Japan)
2. Sekisui Chemical Co., Ltd. (Japan)
3. Mitsubishi Chemical Corporation (Japan)
4. BASF SE (Germany)
5. Chang Chun Group (Taiwan)

Drivers, Restraints, Opportunities and Challenges in Polyvinyl Alcohol Films Market:

1. Drivers: Rising demand from packaging application
2. Restraints: Limited heat resistance of polyvinyl alcohol films
3. Opportunity: Rising demand from medical and healthcare industry
4. Challenges: Rising environmental concerns

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Key Findings of the Study:

1. Fully hydrolyzed, by grade type, is expected to be the most significant polyvinyl alcohol films Market segment during the forecast period.
2. Medical & Healthcare is anticipated to be the fastest-growing polyvinyl alcohol films market segment, by application, during the forecast period.
3. Asia Pacific is expected to be the fastest-growing region in the global polyvinyl alcohol films market, by region, during the forecast period.

The polyvinyl alcohol films market, by grade type, is segmented into fully hydrolyzed, partially hydrolyzed, and others. Globally, The "Fully Hydrolyzed" grade type segment commands the largest market share in the polyvinyl alcohol films market due to several compelling reasons. Fully hydrolyzed grade polyvinyl alcohol dominates the polyvinyl alcohol films market due to its exceptional properties. Its complete hydrolysis results in excellent water solubility and film-forming capabilities, making it a preferred choice for various applications, including packaging, textiles, and paper industries. Fully hydrolyzed polyvinyl alcohol films offer superior tensile strength, barrier properties, and adhesion, making them indispensable for demanding requirements in these sectors. Their ability to create water-soluble films also caters to the increasing demand for eco-friendly packaging. As a result, fully hydrolyzed grade polyvinyl alcohol films command the major share of the market, meeting diverse industry needs effectively.

Polyvinyl alcohol films market, by application, is segmented into detergent packaging, medical & healthcare, polarizing plates, food packaging, agrochemical packaging, and others. Detergent packaging holds a dominant position in the polyvinyl alcohol films market for several compelling reasons. Polyvinyl alcohol films are chosen for this application because they offer exceptional water solubility, ensuring convenient and eco-friendly disposal, as the film dissolves in water. Additionally, their biodegradability aligns with sustainable packaging trends. Polyvinyl alcohol films' strong gas and moisture barrier properties preserve the integrity of detergent products, preventing moisture damage or contamination. Their transparency allows consumers to view the product, and their mechanical strength ensures reliable packaging. This unique combination of properties positions polyvinyl alcohol films as the preferred choice for effective and environmentally responsible detergent packaging.

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Asia Pacific dominates the polyvinyl alcohol films market due to a confluence of factors driving its robust growth. This dominance might be attributed to the region's robust manufacturing sector, particularly in China and India. These countries are significant producers and consumers of polyvinyl alcohol films, serving various industries, including packaging, textiles, and agriculture. The region benefits from a growing middle-class population, driving increased demand for packaged goods. Additionally, the shift towards sustainable and biodegradable packaging aligns with the eco-friendly properties of polyvinyl alcohol films. The Asia-Pacific region's economic growth and changing consumer preferences position it as the key driver in the global polyvinyl alcohol films market.

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