Potential Impact of COVID-19 on PVC Shrink Films Market

Shrink films are one of the most commmonly used packaging materials in the world. Despite that, PVC shrink films have been facing criticism from many countries. This is attributed to a low degree of sustainability, as well as the dangers associated with the production and incineration processes. One of the factors which contribute to high preference for PVC shrink films despite the potential health effects, is the durability of PVC. In addition, PVC shrink films are also widely used for food packaging, due to their excellent ability to not affect the taste of the packaged food.

PVC is used in rigid applications, including blister and clamshell packaging. In case of use of PVC shrink films, it is to be ensured that the strictest standards are follwed across the supply chain. PVC shrink films were one of the first shrink films used for retail display. One of the key contributing factors to the growth in number of applications for PVC shrink films is their ability to be oriented in both bi-axially, and uni-directionally. Therefore, the global PVC shrink films market might experience some turbulence in growth during the forecast period.

Research Methodology

The methodology used to arrive at the market size for PVC shrink films is as follows –

Supply-side analysis

The collected numbers are primarily obtained from the top manufacturers of PVC shrink films in the world, their product offerings, sales revenues in each market verticals. Sales revenue generated by PVC shrink films was estimated after comprehensive product mapping of the key manufacturers.

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Various market and industry experts, which includes sales and marketing heads of PVC shrink films manufacturing companies, and independent consultants, were contacted to validate the penetration of PVC in the total shrink films market. Several sources were cited for the research. Paid databases such as Factiva, Avention, and Bloomberg were referred to track the revenues of the key manufacturers.

Demand-side analysis

For the demand-side analysis, an end user survey was carried out to determine the consumer preference for plastic packaging. Independent packaging consultants were contacted to determine the current trends and market dynamics regarding PVC shrink films. Ultimately, the data collected was validated using bottom-up approach, to arrive at the market size in terms of consumption.

Developed countries in regions such as North America and Western Europe have stringent regulations in place for products such as PVC shrink films. Therefore, a significant chunk of the global demand is expected to be generated from regions such as the Asia Pacific, and Latin America. However, the rate of adoption is expected to decline during the forecast period, with the introduction of alternative packaging solutions in the market. 

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Global PVC shrink films market: Key Players

Some of the key players operating in the global PVC shrink films market are –

  • Traco Manufacturing, Inc.
  • Bonset America Corporation
  • Allen Plastic Industries Co., Ltd.
  • V.Polyfilms Pvt. Ltd.
  • International Plastics, Inc.
  • Folene Packaging LLC
  • Pactiv LLC

The road ahead

PVC has been banned by many countries on account of its impact on human health. There are many countries in which PVC shrink films are still widely used for the packaging of vegetables and other food items. Countries in North America and EU have followed the path of imposing strict laws on the use of PVC shrink films and PVC in other products. This is one key factor which might contribute to decrease in preference for PVC shrink films. Thus, it remains to be seen how various countries tackle the problem.

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.