PVA Films market is expected to get affected by the impact of COVID-19 pandemic to a moderate extent. The outbreak of the COVID-19 pandemic has severely damaged the economic growth of developed as well as developing countries. Only essential goods manufacturing units are allowed to be functional by the governments in many countries around the world. As the whole market is disturbed with economical imbalance, the PVA Films market growth is expected to slow down during the course of the COVID-19 pandemic outbreak but grow gradually during the forecast period after the effect of pandemic gets slowed down.
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Sustainable packaging is the new horizon where manufacturers and consumers are heading from the last few years. Thus, the PVA Films market is expected to grow substantially during the forecast period. PVA is an environmentally friendly polymer that is recyclable or reusable and easily degradable thus helps to reduce the carbon footprint which is increasing by plastic usages and waste generation. The biodegradable packaging or green packaging material usages are increasing day by day especially due to increase in e-waste and use of PVA Films in laptops, sunglasses, LCD panels and optical filters is expected to solve the problem of e-waste and boost the PVA Films market during the forecast period
The PVA Films market is also expected to boost by the increase in usage in embroidery work to increase the aesthetic appearance of the product and increase in usage in detergent packaging which demand is increasing drastically due to increase in a number of shops such as supermarkets, hypermarkets and individual outlets of famous brands. The vigorous increase in the electronics and agrochemical sector is expected to boost the PVA Films market during the forecast period.
The factors which drive the PVA Films market are growing concerns over the environment as electronic gadgets are responsible the affect the environment by increasing non-degradable waste generation i.e. e-waste, properties such as non-toxicity and non-hazardous, rise in agriculture business or agrochemical products, change in life style, dynamically improving hygienic habits, and increase in penetration of electronics goods in urban as well as rural areas.
The factors which restrain the PVA Films market is fluctuating prices of raw materials as PVA is derived from the petrochemicals.
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The PVA Films market is segmented on the basis of the type of grade and application.
The PVA Films market is segmented on the basis of the type of grade as
- Fully hydrolyzed
- Partially hydrolyzed
- Sub partially hydrolyzed
- Low foaming grades
The PVA Films market is segmented on the basis of application as
- Food packaging
- Detergent packaging
- Embroidery
- Laundry bags
- Agrochemical packaging
- Industrial detergent
- Consumer detergent
On a global scale, North America is the largest share contributor in the PVA Films market and expected to dominate the market with slow growth during the forecast period due to an increase in detergent packaging in hotels, supermarkets and hypermarkets. Europe is the second largest share contributor in the PVA Films market and expected to grow at a stagnant rate during the forecast period due to the rise in e-commerce and retail business.
Asia Pacific region and especially China, Japan, India, and South Korea are expected to grow significantly in PVA Films market during the forecast period due to an increase in demand for agrochemical packaging and food products. Latin America and Middle East & Africa are anticipated to grow moderately in the PVA Films market during the forecast period due to expansion of industrial areas over the last few years.
Some of the key players in PVA Films market are Nippon Synthetic Chemical Industry Co., Ltd., Kuraray Co., Ltd., Sekisui Chemical Co., Ltd. AMC Ltd., Cortec Corporation, Arrow Coated Products Ltd., MonoSol LLC, Changzhou Water Soluble Co. Ltd, Aicello Corporation, Biodegradable Product Institute, Shanghai Yuking Water Soluble Material Tech Co., Ltd., Anhui Wanwei Group Co.,Ltd, BASF SE, Polychem, Polysciences, Inc., Spectrum Chemical Manufacturing Corp., Weifang Huawei New Materials Technology Co., Ltd, Ecomavi, Jiangmen Proudly Water-Soluble Plastic Co., Ltd., Sigma-Aldrich Co. Carst & Walker, Japan Vam & POVAL Co. Ltd., Polychem Limited, Polysciences, Inc and Spectrum Chemical Manufacturing Corp.
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