According to a new report published by Transparency Market Research (TMR) titled “Flexible PVC films Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026”, the global flexible PVC films market was valued around US$ 1,250 Mn in 2017 and is anticipated to expand at a CAGR of over 3.5% during forecast period. Expansion of the global flexible PVC films is primarily driven by continuous demand from end-use industries and expansion of the packaging industry. The flexible PVC films market in Asia Pacific is anticipated to expand at a CAGR above 4.0% due to the continuous demand for flexible PVC films in various end-use sectors across the region, especially in China, India, Australia, and Vietnam.
Packaging is a major end-use industry for the flexible PVC films market. Demand for flexible PVC films in the packaging industry is increasing as these films are utilized for several products such as foods and beverages. Recently, complete transparency and food traceability have become vital for consumers. Therefore, manufacturers are focusing on different packaging designs that help consumers make purchase decisions by providing concise information regarding product quality. Flexible PVC films are highly versatile material with favorable environmental footprint, as raw materials required to manufacture these films are eco-friendly, recyclable, and free from heavy metal compounds. Hence, these films are extensively used by the packaging industry.
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Based on product, the flexible PVC films market is fragmented into clear flexible PVC films and opaque flexible PVC films. The clear flexible PVC films segment is anticipated to account for a major share of the market during the forecast period. Furthermore, the segment is anticipated to create growth opportunities during the forecast period. This can be majorly attributed to rapid expansion of the packaging industry.
In terms of end-user industry, the market is divided into automotive, packaging, medical, construction, textile, and others. The packaging segment dominated the global flexible PVC films market in 2017, and this trend is anticipated to continue during the forecast period. The segment is projected to drive the flexible PVC films market in the near future due to the introduction of bio-derived hydrocarbon-based flexible PVC films that are eco-friendly and pose less harmful to humans, compared to others.
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Global flexible PVC films market is divided into major five regions: Latin America, North America, Asia Pacific, Europe, and Middle East & Africa. The flexible PVC films market in Asia Pacific is anticipated to expand at a CAGR of more than 4.0% due to continuous demand for and usage of flexible PVC films in various end-use sectors across the region. The region offers immense growth opportunities to the flexible PVC films market. China dominates the market in the region due to the expansion of end-user industries, particularly the packaging industry, and high growth potential for the market in India, Vietnam, and Indonesia. The packaging industry is the major consumer of flexible PVC films in Asia Pacific.
Key players covered in this report include Win Plastic Extrusions, LLC, Grafix Plastics, Walton Plastics, Inc, TMI, LLC, Riflex Film, Caprihans India Limited, Marvel Group, K.P. Packaging Ltd, ChangZhou HuiSu QinYe Plastic Group, Qingdao Coseal Industry Co., Ltd., Foshan (Gaoming) Junteng Plastics Co., Ltd., NanYa Plastics Corporation, Allen Plastic Industries Co., Ltd., ZK Plastics Ltd., and Galata Chemicals (a wholly owned subsidiary of Artek Surfin). Companies operating in the global flexible PVC films market have been adopting sustainable development strategies to strengthen their market position. However, new players are anticipated to enter the market during the forecast period. Furthermore, the volatile nature of raw material prices due to the increase in crude oil prices, have led flexible PVC film manufacturers to buy raw materials on a monthly basis rather than buying bulk quantities.
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