PVDC Barrier Material Market Size, Share, Growth, and Industry Analysis, By Type (PVDC Resins, PVDC Latex), By Application (Food Packaging and Wrap, Pharmaceuticals Packaging, Unit Packaging for Hygiene and Cosmetic Products, Sterilized Medical Packaging, Others) and Regional Forecast to 2028

Updated On: 08 April 2024

PVDC barrier material market REPORT OVERVIEW

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The global PVDC barrier material market size was 1346.7 million in 2022 and is expected to reach USD 1552.6 million by 2028, exhibiting a CAGR of 2.4% during the forecast period. The COVID-19 pandemic has been unprecedented and staggering, PVDC barrier material experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

A form of plastic called PVDC barrier material has applications in packaging for food and other situations when it's crucial to keep the contents clean and fresh. Vinylidene chloride is used to polymerize vinyl chloride monomers, which are then used to create PVDC resins. The end product is a material with exceptional barrier qualities that is strong and long-lasting.

The broad use of PVDC barrier materials for packaging in sectors such sterilized medical packaging and agricultural product packaging, among others, is a major reason fueling the market's growth. Another factor anticipated to fuel expansion of the market being targeted in the near future is new developments in PVDC barrier materials utilized for a variety of end-use applications, such as in the cosmetics and food processing sectors.

COVID-19 Impact: Interruption in Services to Deplete Market Growth

The petroleum, gas, and chemical industries experienced an unexpected turning point during the first quarter of 2020. These sectors, which were already dealing with difficult longer-term trends, saw the simultaneous consequences of the COVID-19-related economic crisis and the oil price crash. The PVDC barrier material market was severely impacted by the pandemic due to several restrictions imposed by the authorities. However, by the opening up of activities the market will foster in the coming years.

LATEST TRENDS

"Utilization in Cosmetic Products to Stimulate Market Development  "

In unit packing for cleanliness and cosmetic products, the usage of the PVDC barrier material helps to shield the product from environmental elements including light, water, and oxygen. Additionally, it aids in preserving the product's quality and freshness for a longer time. It is frequently utilized in a variety of products, such as oral care products, shampoos and conditioners, and skincare items.

PVDC barrier material market SEGMENTATION

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• By Type

Based on type; the market is divided into PVDC resins, PVDC latex

PVDC resins is the leading part of the type segment.

• By Application

Based on the application; the market is divided into food packaging and wrap, pharmaceuticals packaging, unit packaging for hygiene and cosmetic products, sterilized medical packaging, others

Food packaging and wrap is the leading part of the application segment.

DRIVING FACTORS

"Excellent Barrier Properties of the Chemical to Aid Market Expansion "

Due to the excellent barrier properties of PVDC resins, which make them ideal for use in packaging for food for goods with a high fat content, bitter tastes, and fragrances, the PVDC resins section is anticipated to register a compound annual growth rate  and to maintain its position of power over the forecast period. The packaging of dried foods, confectionary and milk items, meat, fish that has been smoked, sausages, pates, and dry goods such as herbs, spices, tea, and coffee all use PVDC resins as a barrier material.

"Pharmaceuticals Packaging Category to Foster Industry Progress "

The pharmaceuticals packaging category is projected to generate a significant revenue share and is anticipated to maintain its leadership during the forecast period, according to application segmentation. Major factors driving adoption and interest in PVDC barrier material for drugs packaging applications include its superior chemical properties, which include durability against alkalis and acids, extremely low moisture regain, insolubleness in oil and solvents that are organic in nature, and resistance to mold, microbes, and insects.

Due to the increased demand for ready-to-eat packed meals with a longer shelf life over the projected year, the food packaging and wrap category is anticipated to experience the greatest CAGR and will provide benefit to the PVDC barrier material market growth.

RESTRAINING FACTORS

"Availability of Numerous Alternatives to Limit the Market Evolution "

The availability of numerous alternatives, along with the growing preference for bio-plastic over PVDC for a variety of end-use applications, are significant factors that will restrain the growth of the worldwide market during the anticipated period.

PVDC barrier material market REGIONAL INSIGHTS

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"Rising Rates of Chronic Illnesses in Europe to Support Market Advancement "

The PVDC barrier material market share within Europe has been assessed to account for the biggest revenue share among the major regions, and it is anticipated that it will maintain its position of power during the period of forecasting. This can be attributed to the rising demand for the material, which has excellent characteristics such as resistance to moisture and aids in protecting toward odor, vaporized water, and bacteria, as the main packaging material for a variety of pharmaceutical products and medicines.

Rising rates of chronic illnesses including cancer and cardiovascular conditions are anticipated to fuel demand for a variety of medical industries, which in turn is anticipated to accelerate Europe's economic growth.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage"

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

The analyst provides a comprehensive picture of the market through the study, synthesis, and summarization of data from various sources, as well as an examination of important variables such as financial gain, sales prices, competition, and promotions. It identifies the key industry influencers and presents various market facets. The information provided is thorough, reliable, and the result of extensive primary and secondary research. The market report provides a comprehensive competitive landscape as well as an in-depth vendor evaluation methodology and analysis based on both qualitative and quantitative studies to accurately forecast market growth.

The reports cover important advances with in market, as well as inorganic and organic growth strategies. Various companies are concentrating on organic business expansion such as product announcements, product approvals, and other things like patents and events. Acquisitions, partnerships, and collaborations were among the inorganic growth strategies observed in the market. The above activities have paved the way for market participants to expand their business and customer base. With the growing demands for filter products in the international market, market participants in the market are expected to benefit from substantial growth opportunities in the near future.

List of Market Players Profiled

• DuPont (U.S.)
• Kureha (Japan)
• Asahi Kasei (Japan)
• Juhua (China)
• Solvay (U.K.)
• Nantong SKT (China)
• Keguan Polymer (China)

REPORT COVERAGE

This research offers a thorough analysis of the global market, covering all relevant areas. This includes everything from a broad market overview to micro-level information about size of the market, degree of competition, evolution trend, opportunities in the market, important market drivers, and SWOT opportunities and threats. The reader can use the study to influence industry competitiveness and competitive environment strategies to increase potential profit. Additionally, it offers a straightforward framework for assessing and gaining access to the situation of the corporate organization.

In a nutshell, this study should be read by all market participants, traders, academics, analysts, business planners, and anyone else with an interest in the market. The market competitive landscape is another area that the report structure focuses on. This report presents in depth information the share of the market, macroeconomic indicators, product scenario, operation circumstances of the major players, which aids readers in the industry in recognizing the key rivals and better understanding the market's competitive landscape.