PVDC Barrier Material Market By Type (PVDC Resins, PVDC Latex, PVDC Solvent) By Application (Food Packaging and Wrap, Pharmaceuticals Packaging, Hygiene and Cosmetic Products Packaging, Others (Sterilized Medical Pack) and Region - Global Forecast to 2026
3 July 2018
The global PVDC barrier material market was valued at around US$ 0.5 Bn in 2017, and is expected to register a CAGR of 4.0%. The report offers in-depth insights, revenue details, and other vital information regarding the global PVDC barrier material market and the various trends, drivers, restraints, opportunities, and threats in the target market till 2026. The report also offers insightful and detailed information regarding the various key players operating in the global PVDC barrier material market, and their financials, apart from strategies, acquisitions & mergers, and market footprint. The global PVDC barrier material market is segmented on the basis of basis of type, application, and region/country.
Polyvinylidenechloride (PVDC) is a transparent and colorless thermoplastic, having extremely low permeability to gases. PVDC barrier material can be heat-sealed and serves as an excellent barrier to gases. Due to its density, symmetry, and molecular structure, PVDC has excellent barrier properties against fats, vapors, and gases.
Global PVDC barrier material Market Dynamics:
Major factor driving growth of the global PVDC barrier material market is wide applicability for packaging in industries such as sterilized medical packaging, and agriculture product packaging, etc. In addition, recent advancements in PVDC barrier material used for various end-use applications such as in cosmetics as well as food processing industries is another factor expected to propel growth of the target market in the near future.
However, availability of various alternatives, coupled with increasing adoption of bio-plastic over PVDC for various end-use applications are major factors retraining growth of the global PVDC barrier material market over the forecast period.
Market analysis by type:
On the basis of product type segmentation, the PVDC resins segment is expected to register highest CAGR of around 4.0% and is expected to maintain its dominance over the forecast period, owing to excellent properties of PVDC resins barrier material which make it ideal for use in food packaging for products with high fat content, strong flavors, and fragrances. PVDC resins barrier material is widely used in the packaging of dehydrated foods, confectionary and dairy products, meat, smoked fish, sausages, pates, and dried products such as spices, herbs, tea, and coffee.
Market analysis by application:
On the basis of application segmentation, the pharmaceuticals packaging segment is estimated to contribute major revenue share and is expected to maintain its dominance over the forecast period. Superior chemical properties possessed by PVDC barrier material such as resistance to alkalis and acids, very low moisture regain, is insoluble in oil and organic solvents, and impervious to mold, bacteria, and insects are major factors boosting adoption of and demand for PVDC barrier material for pharmaceutical packaging applications. The food packaging and wrap segment is expected to register highest CAGR over 5.0%, owing to rising demand for ready-to-eat packaged meals with a greater shelf life over the forecast year.
Analysis by Region:
Among the various regions, the market in Europe has been estimated to account for highest revenue share, and is expected to continue its dominance during the forecast period. This can be attributed to increasing demand of PVDC barrier material as primary packaging material for various types of medicines and products from pharmaceutical sector, owing to its excellent characteristics properties such as moisture resistance, and helps to protect against odor, water vapor, and bacteria. Increasing incidence of chronic diseases such as cancer and cardiovascular diseases is expected to create growing demand for a range of medical sector, which in turn is expected to boost growth of Europe PVDC barrier material market.
The market in North America is estimated to account for significant revenue share in the global PVDC barrier material market. Demand for PVDC barrier material is expected to increase in the region, owing to rising demand for ready-to-eat packaged food with longer shelf life is expected to drive growth of global PVDC barrier material market, owing to its moisture barrier properties. In addition, medical spending in the US has increased significantly in the past few years, and this trend is expected to continue and in turn boost market growth over the forecast period.
The market in China is expected to account for moderate revenue share in the global PVDC barrier material market. Rising demand for healthcare services owing to a rapidly growing aging population and increase in number of affluent consumers seeking better quality medical services in the country are among some primary factors expected to drive growth of the pharmaceutical market, and in turn support growth of China PVDC barrier market over the forecast period. Moreover, increasing presence of domestic PVDC barrier material manufacturers and distributors in the country, cost-effective labor and raw materials, coupled with increasing government initiatives supporting domestic manufacturing in the country are other factors anticipated to fuel growth of the China PVDC barrier material market over the forecast period. Also, Presence of prominent international players such as Solvay S.A., Kureha Corporation, SK Innovation Co., Ltd., Juhua Group Corporation, and Zhe Jiang Keguan Polymer Co., Ltd., coupled with significant presence of domestic vendors in the region are other factors boosting growth of the China PVDC barrier material market to a significant extent currently.
The market in India is expected to register CAGR around 4% in the global PVDC barrier material market, owing to increasing investments into food packaging, rapid industrialization, and high adoption of PVDC materials in various end-use industries in the region. Moreover, increasing purchasing power, changing lifestyle, and growing demand for ready-to-eat food products are other major factors expected to boost growth of the India market over the forecast period.
The market in Southeast Asia is expected to register moderate growth rate in the global PVDC barrier material market over the forecast period. This can be attributed to rapid growth in industrial and agriculture sectors, along with rising demand for lightweight packaging especially from food, pharmaceutical, and automotive industries. These factors are expected to present major revenue opportunities to prominent international players to expand market presence and revenue share in the market in the region. A major and rising trend in the Southeast Asia market is increasing number of individuals in countries such as Vietnam and the Philippines are inclining towards purchasing food products that offer health benefits. Some manufacturers of food products have capitalized on this shifting trend and highlight products with such attributes, in addition to offering packaged foods that remain fresh and sustain longer periods of time over the shelf. This is a major factor expected to propel growth of the Southeast Asia market over the forecast period.
Global PVDC barrier material Market segmentation:
Segmentation on the basis of type:
- PVDC Resins
- PVDC Latex
- PVDC Solvent
Segmentation on the basis of application:
- Food Packaging and Wrap
- Pharmaceuticals Packaging
- Hygiene and Cosmetic Products Packaging
- Others (Sterilized Medical Packaging and Agriculture Packaging)
Segmentation on the basis of region:
- North America
- South America
- South Korea
- Southeast Asia
- Rest of the World
- SK innovation Co., Ltd.
- Kureha Corporation
- Asahi Kasei Corporation
- Juhua Group Corporation
- Solvay S.A.
- Zhe Jiang Keguan Polymer Co., Ltd.
- 1.0 Chapter 1
- 1.1 Preface
- 1.2 Assumptions
- 1.3 Abbreviations
- 2.1 Report Description
- 2.1.1 Market Definition and Scope
- 2.2 Executive Summary
- 2.2.1 Market Snapshot, By Type
- 2.2.2 Market Snapshot, By Application
- 2.2.3 Market Snapshot, By Region/Country
- 2.2.4 Prudour Opportunity Map Analysis
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