Polarizing is another application segment of polyvinyl alcohol films that accounts for nearly 94% of the market share in terms of value. These polarized films are majorly used in LCD panels, the market size of films used in LCD panels in the year 2015 was 246 million square metres and is forecasted to expand at a growth rate of 4.8% in the forecast year.
Sellbyville, DE -- (SBWIRE) -- 11/08/2018 -- Polyvinyl Alcohol (PVA) Films Market is set to exceed USD 9 billion by 2024. Growing consumer awareness to sustain hygienic environment will drive the global polyvinyl alcohol films market. Adoption of biodegradable materials for packaging purpose will boost the industry growth. Growing hospitality industry will positively impact the industry growth subject to the contribution in detergents market.
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Flourishing laundry industries is anticipated to offer momentous growth subject to adoption of bags made of polyvinyl alcohol films. Increasing income coupled with purchase power parity of people resulting in improved standard of living will call for the adoption of laundry services in daily routine. Protection and aesthetic appearance in embroidery sector will increase the demand for Polyvinyl alcohol films.
Detergent packaging segment will witness significant growth at over 4.4% by 2024. Biodegradable, low-toxic and water-soluble properties of Polyvinyl alcohol films has increased the adoption in detergent packaging. Detergent application segment accounts for 35% share among all other applications.
Polarizing application segment will witness robust growth subject to its usage in electronic products majorly LCD panels. Adoption of PVA films in LCD panels counted to 246 million square meters in 2015 and is set to grow at over 4.8% by 2024.
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Issues related to health hazard will increase the demand for the adoption of biodegradable polarized PVA films in electronic products. The health hazard is the result of rising concerns towards E-waste. Demand for packaging materials has increased with vigorous growth indicators for agrochemicals including pesticides and fertilizers. Adoption of polyvinyl alcohol films as a packaging material for agrochemicals will boost the business growth.
North America is anticipated to dominate the polyvinyl alcohol films market with more than 5000 tons consumption of water soluble PVA in 2015. Strong ongoing industrial production will positively impact the business growth. Highly regulated market for packaging materials in the U.S. will increase the demand for the adoption of PVA films.
Asia Pacific polyvinyl alcohol films market will witness significant growth subject to wide applications of PVA films in agrochemical, laundry and embroidery sectors. Asia Pacific is expected to incur the market growth up-to 6,260 tons in 2024 from 4,000 tons in 2015. South Korea, Japan and China will witness high demand for PVA films subject to flourishing electronic market with high supply of products including cellular phones and LCD panels.
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Notable industry participants in LNG bunkering industry are Aicello Chemicals, Changzhou, Jiangmen Proudly Water Soluble Plastic, Nippon Gohsei, Sekisui Specialty Chemicals, MonoSol LLC and Kuraray.