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The global polyvinyl alcohol (PVA) films industry is rapidly rising due to its growing demand from end-user industries. Regions such as the Asia Pacific and North America are significant markets for polyvinyl alcohol (PVA) films, where it is used for water-soluble applications. The Asia Pacific contributes to the majority of the market share for the product and is predicted to have rapid growth over the forecast period as well. A significant amount of polyvinyl alcohol (PVA) films is used for detergent and agrochemical packaging. Detergent packaging has been witnessing heightened demand in North America, whereas the Asia Pacific region has a huge demand for agrochemical packaging. The other water-soluble applications include water treatment, embroidery, chemical packaging, and laundry bags. All these factors are aiding the market growth of polyvinyl alcohol (PVA) films.
The market is further driven by the new product launches by the key industry players. Mitsubishi Chemical Corporation (OTCMKTS: MTLHF) develops Hi-Selon, which is a water-soluble film made from polyvinyl alcohol. The product is available in extensive types, varying on the basis of solubility in cold as well as hot water, to cater to diverse needs. The product is ideal for packaging material and offers several advantages, such as high solvent resistance and gas barrier performance for its application in packaging agricultural chemicals and pharmaceuticals, printing on curved surfaces, hygiene purposes, and as base materials for wigs and embroidery. The rising demand for the aforementioned products and innovations like this are expected to bolster the market growth over the forecast period.
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Aicello Corporation, Mitsubishi Chemical Corporation, Nippon Gohsei UK Limited, Arrow GreenTech Ltd., and KURARAY Co., Ltd., among others, are the key players in the global polyvinyl alcohol (PVA) films market. The EMR report looks into the capacity, market share, and latest developments of these major players like plant turnarounds, mergers and acquisitions, and capacity expansions.
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