Global PVDC Coated Films Market Supported by Product Innovation
A coated film is essentially a functional packaging film that mainly finds application in packaging cosmetics, drugs, foods, and various other types of consumer goods. Compared with other common films, coated films have excellent heat sealability, printability, and barrier properties. As a result they can prolong the shelf life of packaged goods and also prevent their tampering.
There are various kinds of coated films available in the market. Those include acrylic, PVOH, and PVDC. Among them, PVDV coated (polyvinylidene chloride (PVdC)) films have high oxygen and moisture barriers. They could also be transparent which would provide consumers a peek into the contents inside.
The global PVDC coated films market, the subject of this article, is seeing a proliferation of products owing to thrust of players to come up with better products. They are creating coatings with more effective oxygen barriers, high aroma barriers, or strong resistance to moisture.
A report on the global PVDC coated films market by Transparency Market Research finds that it would rise at a steady 4.7% CAGR over the course of the forecast period starting from 2018 and ending in 2028. At this pace, the market which is worth around US$7.7 Bn would likely become worth US$12 bn by 2028-end.
Food and Beverage Industry Majorly Fuelling Global PVDC Coated Films Market
The global PVDC coated films market is predicted to rise impressively in the next couple of years owing to the solid demand from the food and beverage industry. This is because of the rising incomes of people and growing urbanization which has created massive demand for packaged and convenience foods. There is a surging demand for innovative and flexible packaging for food and beverage that can keep the freshness and quality intact. This has led to high demand for PVDC coated films. The meat and meat related products in the food and beverage industry are particularly serving to drive demand in the global PVDC coated films market. Such products need proper moisture barriers and high oxygen.
Eco-friendly Nature of PVDC Coated Films Further Boosts Demand in Global Market
The global PVDC coated films market is rising because of the environmentally friendly nature of the products. Those have limited impact on the environment. This is because manufacturers are required to follow strict strictures with regard to sustainability that would help to reduce carbon footprint. PVDC coated films typically have reduced levels of carbon dioxide emission in comparison to other high barrier films and thus have limited impact on global warming. They are also considered low-impact materials, which means they consume lower amounts of energy. All these USPs are serving to boost the global PVDC coated films market.
Further, the global PVDC coated films market is also being boosted by the emerging trend of blister packaging in the pharmaceuticals sector in both developing and developed economies.
Alternatives Posing a Challenge to Rapid Sales Growth in Global PVDC Coated Films Market
Despite numerous USPs driving their uptake, there are factors challenging the global PVDC coated films market. Those include presence of chlorine that makes the films turn yellow after a while. They also turn brittle with time and become prone to cracking. Hence manufacturers are gradually opting for alternatives that score a point over PVDC coated films.
In most of Western Europe, for example, ethyl vinyl alcohol (EVOH) co-extruded films, a substitute for PVDC, is already enjoying a substantial share in the specialty films market in the region. Meanwhile, in North America, SiOx- and AlOx-coated films considered safer and more sustainable are seeing rapid uptake.
High Price of Product Negatively Impacting Global PVDC Coated Films Market
PVDC coated films are gradually getting costly. This is driving up costs for prominent end-use industries. This has been egging manufacturers to go for less costly alternatives.
Another drawback of PVDC coated films is that they need special flexographic converters to bring about bond adhesion for lamination purpose. As a result manufacturers find it challenging to add their product and branding information on the surface of the packaging film. This has also served to hamper the global PVDC coated films market, to an extent.
Players’ Focus on Research and Development to Pave Way for Growth in Global PVDC Coated Films Market
A noticeable trend in the global PVDC coated films market is the thrust on research and development. Players are seen creating better products by adding features to their products. For instance, many of them, are developing products with better barrier properties to extend shelf life of perishable products. Besides diversifying their products, agile players in the global PVDC coated films market are also seen expanding their manufacturing facilities to meet the rising demand of end use industries.
To further grow, many have set their gaze upon the high growth Asia Pacific market, powered primarily by China and India