PVC Packaging Materials

PVC Packaging Materials Market – Size, Share,
Outlook, and Opportunity Analysis, 2018 - 2025
Polyvinyl chloride (PVC) packaging material is used in various end-use industries
such as personal care, food and beverages, medical, and others, owing to its
properties such as light weight, good impact strength, resistance to oil, grease and
chemicals, and others. The high versatility of plastic enables in reuse and recycling.
Market Dynamics
PVC packaging requires less fuel to produce as compared to that of other packaging
materials such as metal and glass. According to Plastics Europe, the energy
required for PET (polyethylene terephthalate) and HDPE (high density polyethylene)
was 82.7 GJ (gigajoule) per ton and 76.7 GJ per ton whereas, for PVC was 56.7 GJ
per ton. Furthermore, it also protects against contamination by helping to prevent the
spread of germs during manufacturing and distribution. These factors are propelling
the PVC packaging materials market growth.
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Growing demand from processed food is also expected to drive growth of PVC
packaging market. This is owing to high use of PVC packaging in processed foods,
due to its aforementioned properties. According to U.S. Department of Agriculture,
Foreign Agricultural Service, in Germany, the processed food and drinks market was
valued at US$ 190 billion in 2016 and the food industry represented the third-largest
processing industry in Germany.
However, use of PVC packaging has been restricted in various countries such as
Spain, Canada, Czech Republic, and South Korea, owing to health risk associated
with the use of it. This is expected to hinder growth of PVC packaging materials
market. According to Legislative Council, State of California, the California Assembly
passed bill no. AB 1329, which prohibits a retail establishment from selling,
distributing or importing a flexible or rigid polyvinyl chloride packaging container.
Market Trends
Among end-use industry, the food and beverages segment is expected to witness a
significant growth in the near future, owing to increasing growth of this industry.
According to U.S. Census Bureau, in the U.S., the total food sales in 2016 was US$
1,594.06 billion. Furthermore, increasing consumer spending on food and drink
results in growth of this segment. According to Department for Environment Food &
Rural Affairs, the total consumer expenditure on food, drink and catering increased
by 0.9% in 2014 to US$ 231.10 billion.
The rigid packaging application segment is expected to show a significant growth in
the global PVC packaging materials market over the forecast period. According to
Coherent Market Insights’ analysis, the global rigid packaging market was valued at
US$ 529.97 billion in 2016 and is expected to exhibit a CAGR of 4.05% during the
forecast period (2017-2025).
Key manufacturers are focusing on launching new products and plant expansion to
expand their product portfolio and to cater to increasing consumer demand. For
instance, in February 2018, Westlake Chemical Corp. announced plans to expand
their Geismar polyvinyl chloride plant to boost its annual volume of PVC products.
Market Outlook
Europe holds a significant position in the global PVC packaging materials market
growth, owing to growing personal care and cosmetics industry in the region. This is
owing to increasing use of PVC in packaging of cosmetic products as these are
resistant to oil, grease, and chemicals. According to Cosmetic Europe, cosmetics
and personal care industry in Europe was valued at US$ 94.13 billion in 2015 with
Germany (US$ 15.89 billion) positioned as the largest market, followed by the U.K.
(US$ 14.06 billion), France (US$ 13.94 billion), and Italy (US$ 12.10 billion),
respectively.
Asia Pacific is expected to be the fastest growing region in global PVC packaging
materials market over the forecast period. Increasing demand for PVC packaging
products in pharmaceutical industry in China and India is one of the factors fueling
growth of PVC packaging materials market. According to India Brand Equity
Foundation (IBEF), the pharmaceutical industry in India accounted for 2.4% of the
global pharmaceutical industry and is expected to expand at a CAGR of 12.89%
during 2015 – 2020.
Furthermore, increasing consumer preferences for packaged goods coupled with
growing retail industry is expected to significantly affect growth of the market in the
forecast period. For instance, India Brand Equity Foundation (IBEF), Government of
India, the retail market is expected to nearly double to US$ 1 trillion by 2020 from
US$ 600 billion in 2015.
Key Players
Some of the leading players operating in the global PVC packaging materials market
are Reliance Industries Limited, Palram Industries Ltd., Bilcare Singapore Pte
Limited, Jinhua Zhong Bang packaging materials Co., Ltd. and Teknor Apex
Company, Inc.
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The research report on PVC Packaging Materials Market is segmented by Application, End-use Industry – Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018 - 2025

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