Calendered Polyvinyl Chloride Flexible Films Market Growth & Trends
The global calendered polyvinyl chloride flexible films market size is expected to reach USD 25.2 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.3% from 2022 to 2030. There are a large number of players operating in the market across the globe. With technological advancements, various end-use segments have been introduced. Some of these types include pharmaceutical, medical, automotive, building and construction, consumer goods, and industrial.
The market is likely to be driven by factors, such as rising demand for calendered polyvinyl chloride (PVC) flexible films in food and beverage packaging end-use. The food and beverages industry is the most prominent consumer of packaging products worldwide. The ongoing immigration of the rural population to urban areas, rising number of working women, increasing disposable income, and prevailing hectic work-life schedules have macroeconomically fueled the global demand for ready-to-eat food products, packaged meals, outdoor dining, etc.
Calendered polyvinyl chloride flexible films extend the shelf life of perishable commodities while masking the odor of packed products. The usage of these films also eliminates labeling or capping costs. These factors are expected to contribute to the surged demand for calendered polyvinyl chloride flexible films in the coming years. Increased investments by companies such as Uflex Ltd. to develop advanced packaging films are expected to fuel the growth of the packaging industry at domestic and international levels.
The presence of major economies with high healthcare costs and increasing expenditure of various governments on public and private health systems are expected to positively impact the market growth. Increasing private participation in the healthcare industry to improve healthcare services and infrastructure and offer high-quality treatment in countries like China, Japan, India, Singapore, and Australia is expected to boost the market growth. Furthermore, improving service and safety standards in hospitals is expected to drive the market over the forecast period.
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Calendered Polyvinyl Chloride Flexible Films Market Report
Calendered Polyvinyl Chloride Flexible Films Market Report Highlights
In terms of revenue, the consumer goods segment accounted for a prominent share of more than 25.0% in the market in 2021 and is further expected to witness prominent growth over the forecast period owing to the high demand from consumer goods such as furniture, footwear, sports equipment, clothing, and others
As of 2021, Asia Pacific accounted for more than 28.0% revenue share in the overall market. The demand for high-quality medical devices and components from hospitals in major economies such as China, India, and Japan is increasing on account of rising expenditure on the healthcare industry. Increasing private participation in the healthcare industry to improve healthcare services and infrastructure and offer high-quality treatment in countries like China, Japan, India, Singapore, and Australia is expected to boost the market growth
The use of calendered polyvinyl chloride flexible films in the automotive sector is in underbody coatings, sealants, floor modules, and wire harnesses (cable insulation and grommets). Calendered PVC flexible films are used mainly on the exterior of the car, particularly in areas where the paint on the vehicle body is exposed to wear and impact from dirt and gravel from the road
Several market players compete with each other to tap potential growth opportunities in the global polyvinyl chloride flexible film market and to establish their market presence and enhance their market share. Companies such as Caprihans India Limited, ACG, and Mississippi Polymers Inc., as well as various polyvinyl chloride-based calendered flexible film manufacturers, account for a large share of the market since their establishment. Hence, these companies have been categorized as product innovators in the market
