LOS ANGELES, April 09, 2020 (GLOBE NEWSWIRE) -- The global PVDC coated films market is expected to reach the market value of around US$ 2,500 Mn by 2027 and is anticipated to grow at a CAGR of around 6% in terms of revenue during the forecast period 2020 to 2027.
Polyvinylidene chloride or PVDC is a unique and versatile thermoplastic synthetic polymerized chloride formed by polymerization. Optically transparent with high levels of coating and with superior qualities like metalized films in terms of oxygen and moisture barriers, PVDC is suitable for the prolongation of household wrapping, dairy, medical and pharmaceutical packaging. PVDC is particularly resistant to other contaminants such as grease and oil.
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Leading Region of PVDC Coated Films Market
In terms of revenue, Asia Pacific held the largest share in the PVDC coated films market is expected to exhibit its dominance over the forecast period. In addition to rapid industrialization, the increasing demand for PVDC coated films in the cosmetics, building and pharmaceutical and other industries is anticipated to drive sales growth for the Asia Pacific PVDC Coated Film market during the forecast period. China contributes a major share in terms of revenue in the PVDC coated films market is Asia Pacific.
Market dynamics
The major factors such as growing demand from the food & beverage and health & personal care industries are driving the growth of the PVDC coated films market. In these industries PVDC coated films are mainly used due to its properties including a higher degree of humidity, mineral oil barrier, excellent aroma, and dimensional stability. Another factor which is likely to flourish the growth of the market during forecast period is the rising demand for PVDC coated films in the pharmaceutical industry due to growing demand for blisters packaging. However, the factor that may hamper the market growth is the high cost of raw materials which is also likely to restrain the market growth during forecast period. Increasing usage of PVDC coated film in developed countries is a factor anticipated to create an opportunity during the forecast period for the growth of the global PVDC coated films market.
Recent Development in the PVDC Coated Films Market
On February 2019, Japan signed a free trade agreement with European Union for trading block of more than 25 nations. Japan and EU are the world largest market for most of products with no tariffs after a free trade agreement. UK has voted to abandon the EU in a sudden move called Brexit. UK is expected to import goods from far-off national states to offset the loss of trade deals with the EU. Therefore, it will benefit the PVDC coated film market significantly as long distances need better protection for fresh products so that they don't go waste.
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The global market is characterized by the presence of numerous large and small players key market participants include are Cosmo Films Ltd., Jindal Poly Films Limited, Treofan Germany GmbH & Co. KG, SKC, Inc., Vibac Group S.p.A , Polinas, Innovia Films, Vacmet India Ltd., SRF Limited, Toray Industries, Inc., Transcendia Inc. Ltd., Perlen Packaging, and others
Key Developments
- In April 2019, Cosmo Films has recently launched a cast polypropylen (CPP) film to package applications requiring high humidity & oxygen barrier and high heat tack properties, a global pioneer in specialty filming in flexible packaging, laminating and labeling applications and synthetic paper.
- In March 2019, Transcendia has completed the acquisition of Purestat Engineered Technologies, a leading custom-designed material for essential product components for a broad variety of markets and applications. This acquisition enhances Transcendia's active packaging and barrier film platforms through the introduction of anti-static ESD (Electrostatic Dissipative).
- In August 2018, Precision Poly LLC has been acquired by Transcendia, a pioneer in the field of specialized materials for essential product components in a wide variety of markets and applications. This acquisition expands the expertise in materials science at Transcendia, leading industry facilities and a robust manufacturing network for food and beverage sector successful product packaging and engineered films.
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