Global Flexible PVC Films & Sheets Market Overview
The key driver impacting the flexible PVC films & sheets market is the rapidly growing demand from the packaging industry globally. The flexible PVC films & sheets films are widely used in the packaging industry due to its high versatility, recyclability, and favorable environmental footprint. The packaging sector is expanding due to massive demand from the food sector, thus likely to create more flexible PVC films & sheets demand in the forecast period. For instance, according to the Wisconsin Economic Development Corporation report estimations, India has the fifth-largest packaging industry globally. The packaging industry, which was set at $32 billion in 2015, had grown at a CAGR of 15% in the last five years and is estimated to constantly grow at a CAGR of 13 to 15 percent in the coming years. The flexible packaging segment is the fastest growing and is estimated to grow at 35 percent yearly. The United States U.S. Flexible packaging industry is mounting and recorded $31.8 billion in sales in 2018. Flexible packaging is the 2nd largest packaging segment in the U.S., acquiring about 19% of the $170 billion U.S. packaging market. food(retail and institutional) is the largest market for flexible packaging, accounting for 59% of total shipments. moreover, the growing popularity of PVC films & sheets due to its durability and cost efficiency is estimated to be a significant factor that positively impacts market growth.
According to Value Market Research, the global flexible PVC films & sheets market size was valued at around USD xxx million in 2020 and is estimated to grow at a CAGR of about 6% during the forecast period of 2021 to 2027.
The rapidly growing automotive sector is estimated to augment flexible PVC films & sheets demand in the forecast period. The flexible PVC films & sheets are expansively engaged in instrument panels and linked moldings, sun visors, interior door panels, pockets, etc., in the automotive sector, thus driving its vast demand from the automotive industry. for instance, as per Crescendo Worldwide Organization, globally automobile production in 2019 was estimated as 92 MN Vehicles, and it is predicted to grow by a CAGR of 20.78% by 2028. International Organization of Motor vehicle manufacturers (OICA), in 2019, increased sales of passenger cars by about 5% and reached 69.5 million units. Similarly, the commercial vehicles segment showed a constant rise as the sales reached 24 million units in 2019. however, the availability of cheaper substitutes may hamper the global flexible PVC films & sheets market in the long run. The increase in costs of energy and fluctuations in raw materials prices negatively impacts industry growth. the current industry trends, such as the escalating usage of the product in the medical and textile industry and the rising trend of vinyl fashions, are expected to provide market players with several market opportunities.
The flexible PVC films & sheets market is vast, with many local and global players. The key leaders follow different strategies to improve their market position, such as contracts, mergers, contracts, extending product portfolio, acquisitions, expansions, and product innovations to augment their market share globally. The known players included in the report are Marvel Vinyls Limited, Shih-Kuen Plastics Co., Ltd., Ergis S A, Nan Ya Plastics Corporation, IVK Europe, Riflex Film AB, Vortex Flex Pvt. Ltd., Grafix Plastics, ChangZhou HuiSu QinYe Co., Ltd., TMI International LLC, Extruflex UK Limited, Walton Plastics, Inc., Win Plastic Extrusions, Allen Plastic Industries Co. Ltd., Qingdao Coseal Industry Co., Ltd.
In this research report, the flexible PVC films & sheets market is segmented by product type, application, and region.
Analysis by Product Type:
By product, the report is categorized into clear/transparent, opaque, and semi-transparent/translucent. Clear/transparent product type dominates the type segment with over 30% share in 2020. It is due to the growing popularity of roasted and salted sunflower seeds among consumers. Moreover, the significant adoption of extensive flexible PVC films & sheets across residential buildings, sheds, and garages contributes to the high demand for flexible PVC films & sheets in the forecast period.
Analysis by Application:
By applications, the report is categorized as automotive, outdoor, packaging, medical, construction, textile, industrial, and others. The packaging segment dominates the application segment with over 30% share in 2020. It is due to the extensive usage in the packaging industry. Moreover, the emergence of new technologies and innovative products and the growing global focus on ethical packaging across the globe are the significant factors responsible for the growing packaging sector in the forecast period.
Analysis by Region:
In the regional outlook of the global flexible PVC films & sheets market, the Asia Pacific region dominates with a 35% market share in 2020. The presence of key manufacturers and consumers of flexible PVC films & sheets in the region is the critical factor driving regional growth. Moreover, the rapidly growing packing industries in India and China contribute to the development of the flexible PVC films & sheets market across the Asia Pacific.
Market Segmentation covered in the Report:
By Product Type
- Clear/Transparent
- Opaque
- Semi-transparent/Translucent
By Applications
- Automotive
- Seating
- Insulation
- Instrument Panel
- Door System
- Others
- Outdoor
- Sports & Recreational
- Tent/Roof and Marquee
- Others
- Packaging
- Medical
- Construction
- Textile
- Industrial
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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