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Global Polyvinylidene Chloride (PVDC) Coated Films Market Size and Share Analysis 2023-2028
The Global Polyvinylidene Chloride (PVDC) Coated Films Market is poised to experience substantial growth, projected to increase from USD 1,491 million in 2023 to USD 1,732 million by 2028, at a Compound Annual Growth Rate (CAGR) of 3.04% during the forecast period spanning from 2023 to 2028.
The market faced significant challenges in 2020 due to the adverse impact of the COVID-19 pandemic. However, it has since recovered and is now estimated to have regained its pre-pandemic levels, showing promising and steady growth prospects for the future.
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USD 1.5 billion in 2021
Film Substrate Type, Application, and Geography
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Among the key driving forces behind the market’s growth are the burgeoning processed food industry and the rising demand for PVDC-coated films in food packaging applications. However, the presence of substitutes is expected to impede the market’s expansion during the forecast period.
Promising opportunities for market growth lie in the development of new technologies for recycling film structures incorporating PVDC. These innovations hold the potential for lucrative prospects within the market.
Asia-Pacific is anticipated to take the lead in the global market, with significant consumption originating from China, Japan, and India, reflecting the region’s dominance in this sector.
PVDC-coated films are obtained by applying a thin layer of PVDC onto base films such as OPP (Oriented Polypropylene). These films serve as efficient packaging materials, providing moisture-proofing and gas-barrier properties, in addition to the inherent properties of the base film. Notably, the low dependence of the oxygen barrier property on humidity, coupled with excellent moisture-barrier and aroma-retaining properties, further enhances their market concentration, especially in the food industry.
The market is segmented based on various factors, including film substrate type, application, and geography.
Segmentation by Film Substrate Type
Bi-axially Oriented Polypropylene (BOPP)
Polyethylene Terephthalate (PET)
Polyvinyl Chloride (PVC)
Other Film Substrate Types
Segmentation by Application
Pharmaceutical Blister Packaging
Segmentation by Geography
North America – United States, Canada, Mexico
Europe – United Kingdom, Germany, France, Italy, and Rest of Europe
Asia-Pacific – China, Japan, India, South Korea, and Rest of Asia-Pacific
Latin America – Brazil, Argentina, and Rest of Latin America
Middle East and Africa – Saudi Arabia, South Africa, and Rest of Middle East and Africa
The bi-axially oriented polypropylene (BOPP) films have emerged as the dominant player, driven by their widespread adoption in the snacks, confectionery, and meat packaging industries. The growing blister packaging industry presents promising opportunities for the BOPP films in the foreseeable future. These films are produced by casting polypropylene into film and subsequently stretching it using specialized machines. PVDC-coated BOPP films find application in overwrapping, horizontal (HFFS), and vertical (VFFS) packaging machines, where their acrylic and PVDC coatings serve special purposes, notably exhibiting an increased oxygen barrier.
Within the application segment, the food packaging industry holds the largest share. The escalating usage of BOPP films in meat packaging and their rising adoption in the dairy industry are set to drive the market further. Food packaging, with its superior properties of PVDC-coated films, such as high chemical resistance, inertness, and low odor, dominates the packaging sector. The optically clear and glossy PVDC-coated films possess oxygen and moisture barrier properties comparable to metalized films. Additionally, they demonstrate high resistance to chemicals, including grease and oil.
PVDC-coated films are highly valued for their low stretch, excellent bond strength, and low water absorption, making them ideal for food wrapping applications. The demand for PVDC-coated films is projected to increase owing to the growing food packaging sector. As per the United States Department of Agriculture (USDA), India’s consumption value of packaged organic food and beverages reached 96 million US dollars in 2021, with projections estimating it to rise to 108 million dollars in 2022.
The food packaging industry plays a vital role in preserving and transporting food items without compromising taste or quality. It safeguards contents from toxins and moisture, prevents spillage and tampering, and helps retain their shape and quality. The global meat production reached around 360 million metric tons in 2022, with an expected expansion to 377 million tons by 2031 to meet rising demand, further bolstering the demand for PVDC-coated films.
Asia-Pacific is anticipated to lead the PVDC-coated films market during the forecast period, driven by high demand from countries like China, India, and Japan. China’s packaging industry is projected to experience significant growth, with an expected CNY 2 trillion (USD 290 billion) market by 2025. India’s packaging sector, the fifth-largest in its economy, is predicted to reach USD 204.81 billion by 2025, contributing to the rise in demand for PVDC-coated films. Japan’s thriving e-commerce market is also expected to boost the demand for these films, with revenue projected to reach USD 232.20 billion by 2023 and an annual growth rate of 11.23% between 2023 and 2027.
The global market for PVDC coated films is characterized by fragmentation, with numerous Tier 1 and Tier 2 companies dominating the major portion of the global share.
Securing the leading position in the global polyvinylidene chloride (PVDC) coated films market is Innovia Films. The company boasts an extensive range of PVDC coated films catering to the pharmaceutical and food packaging industries.
Occupying the second position in the market under examination is Perlen Packaging AG. The company’s strong revenue growth in the year 2022, along with a diverse product portfolio focused on pharmaceutical blister packaging, positions it to enhance its market concentration in the future.
Key companies profiled in this report include ACG, Asahi Kasei Corporation, Bilcare Limited, Caprihans India Limited, Cosmo Films, Glenroy Inc., Huawei Pharma Foil Packaging, Innovia Films, Jindal Poly Films Limited, Kaveri Metallising & Coating Ind. Private Limited, Klöckner Pentaplast, Kureha Corporation, Liveo Research, Perlen Packaging, Polinas, Polyplex, Qingdao Kingchuan Packaging, Rmcl, Solvay, Tekni-plex Inc., Tipack Group, Transparent Paper Ltd, Unitika Ltd, Valtec Italia SRL, Vibac Group SPA.
Recent Industry Developments
In April 2022, Jindal Poly Films, which operates as a wholly-owned subsidiary of Jindal PolyPack, successfully completed the acquisition of SMI Coated Products. This strategic acquisition played a crucial role in enabling the company to diversify and expand its product segments, particularly in the areas of labels and related products. Notably, Jindal PolyPack boasts ownership of the world’s largest production sites dedicated to Biaxially Oriented Polypropylene (BOPP) and Biaxially Oriented Polyethylene Terephthalate (BOPET) films.
Also in April 2022, Cosmo Films Ltd. unveiled its plans to establish a new production plant specifically for cast polypropylene in the city of Aurangabad. This state-of-the-art production line is designed with an impressive annual capacity of 25,000 million tonnes, signifying a significant expansion initiative by the company. This endeavor is expected to facilitate the company’s growth and further enhance its presence in the market.
Key Questions Answered
What is the study period for the Polyvinylidene Chloride (PVDC) Coated Films Market?
The study period for the Polyvinylidene Chloride (PVDC) Coated Films Market spans from 2018 to 2028.
What is the growth rate of the Polyvinylidene Chloride (PVDC) Coated Films Market?
The Polyvinylidene Chloride (PVDC) Coated Films Market is projected to grow at a Compound Annual Growth Rate (CAGR) of 3.04% over the next five years.
What is the size of the Polyvinylidene Chloride (PVDC) Coated Films Market?
The Polyvinylidene Chloride (PVDC) Coated Films Market is expected to reach USD 1,491 million in 2023 and is projected to grow at a CAGR of 3.04% to reach USD 1,732 million by 2028.
Which region exhibits the highest growth rate in the Polyvinylidene Chloride (PVDC) Coated Films Market?
Asia Pacific is experiencing the highest CAGR during the period from 2018 to 2028.
Which region holds the largest share in the Polyvinylidene Chloride (PVDC) Coated Films Market?
As of 2022, Asia Pacific commands the highest market share.
Who are the key players in the Polyvinylidene Chloride (PVDC) Coated Films Market?
The major companies operating in the Polyvinylidene Chloride (PVDC) Coated Films Market include UNITIKA LTD, Perlen Packaging, KUREHA CORPORATION, Innovia Films, and Vibac Group S.p.a.