In terms of volume, the global flexible PVC films & sheets market is anticipated to expand at a CAGR of ~4% from 2020 to 2030. Flexible PVC films & sheets are versatile materials that can be used in various applications. These include window frames, drainage pipes, medical devices, blood storage bags, cable and wire insulation, resilient flooring, roofing membranes, stationery, automotive interiors and seat coverings, fashion and footwear, packaging, cling films, credit cards, vinyl records, synthetic leather, and other coated fabrics. The latest Building Research Establishment Ltd.’s (BRE) ‘Green Guide to Specification’ confirms that PVC is an ideal all-round framing material. PVC-U windows, in a domestic setting, score an ‘A’ rating and an ‘A+’ rating in the commercial arena. PVC-U windows are one of the best performing products in the market. Flexible PVC films & sheets are also extensively used in the construction of sporting venues. Besides its usage in stadiums and sporting venues, flexible PVC films & sheets are used extensively in athletic wear and equipment.
The structure and composition of flexible PVC films & sheets lend itself to being mechanically recycled, with reasonable ease to produce superior quality recycling materials. The demand for flexible PVC films & sheets in various end-use industries is rising consistently. This is anticipated to offer substantial expansion opportunities to the market during the forecast period.
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Easy Availability of Substitutes to Hamper Flexible PVC Films & Sheets Market
The flexible PVC films & sheets market is anticipated to be hampered by easy availability of substitute materials. Ethylene-vinyl acetate (EVA) and metallocene polyethylene (mPE) resins have been introduced as alternatives to flexible PVC films & sheets. Studies suggest that mPE films offer a number of attractive performance attributes, including superior tensile strength, elongation, and toughness, as well as excellent resistance to puncture, impact, and bursting. EVA films have also been introduced as alternatives to flexible PVC for medical device applications, as they can be fabricated with radio frequency (RF) sealing equipment. Furthermore, films made with EVA combine toughness and low-temperature sealability with clarity, flexibility, and impact and puncture resistance.
Clear/Transparent Products Dominated Flexible PVC Films & Sheets Market in 2019
Based on product type, the global flexible PVC films & sheets market has been divided into clear/transparent, opaque, and semi-transparent/translucent. In terms of volume, the clear/transparent segment dominated the global flexible PVC films & sheets market in 2019. The segment is anticipated to expand at a CAGR of more than 4.6% during the forecast period.
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High Use Flexible PVC Films & Sheets in Packaging Application
Based on application, the global flexible PVC films & sheets market has been classified into automotive, outdoor, packaging, medical, construction, textile, industrial, and others. In terms of value, the packaging segment led the global flexible PVC films & sheets market in 2019. The segment is anticipated to expand at a CAGR of more than 4.9% during the forecast period.
Asia Pacific to be Lucrative Region of Flexible PVC Films & Sheets Market
Based on region, the global flexible PVC films & sheets market has been split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In terms of volume, Asia Pacific accounted for a significant share of the global flexible PVC films & sheets market in 2019. The demand for flexible PVC films & sheets is high in Asia Pacific, particularly in China, owing to increase in consumption of plastic packaging in the region. Asia Pacific is also estimated to be a lucrative region of the global flexible PVC films & sheets market during the forecast period. China is a leading producer and consumer of flexible PVC films & sheets in the region. India and China are the two leading economies in Asia Pacific. These countries are anticipated to offer immense opportunities to the flexible PVC films & sheets market in Asia Pacific in the near future.
The demand for flexible PVC films & sheets is likely to rise significantly in packaging, automotive, and medical application segments in Asia Pacific during the forecast period. This is likely to augment the flexible PVC films & sheets market in the region during the forecast period.
Competition Landscape of Flexible PVC Films & Sheets Market
The global flexible PVC films & sheets market was highly fragmented in 2019. This trend is expected to continue during the forecast period. Leading players have taken initiatives to expand their presence through expansion in manufacturing capacities and strategic partnerships. NAN YA PLASTICS CORPORATION aims to provide high-quality products at a competitive price in order to retain its leading position in the global flexible PVC films & sheets market. In line with this, the company has invested in state-of-the-art manufacturing machinery/equipment and constant R&D activities to ensure high quality of products at lower costs. Marvel Vinyls has adopted an integrated risk management framework that enables continuous identification, assessment, monitoring, and management of organizational risks. The framework is designed to identify and assess risks at the operational and entity levels.
Marvel Vinyls strives to comply with all applicable laws and obtain the necessary approvals from regulatory bodies from time to time in order to adhere to the ‘Green Initiative.’ All raw materials used by the company are REACH-compliant, non-toxic, non-carcinogenic, and free from lead and heavy metals.
Key manufacturers operating in the global flexible PVC films & sheets market are Marvel Vinyls Limited, Ergis S A, IVK Europe, Shih-Kuen Plastics Co., Ltd., NAN YA PLASTICS CORPORATION, Riflex Film AB, Extruflex UK Limited, Vortex Flex Pvt. Ltd., Walton Plastics, Inc., Grafix Plastics, Win Plastic Extrusions, LLC, Allen Plastic Industries Co. Ltd., ChangZhou HuiSu QinYe Co., Ltd., Qingdao Coseal Industry Co., Ltd., and TMI INTERNATIONAL LLC.
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