The global flexible PVC films & sheets market size is expected to reach around US$ 8.7 billion by 2030 growing at a CAGR of 4.1% from 2021 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.
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.
Legislation and Improved Additives Enhancing Quality of Flexible PVC Materials
Sustainability is the new buzzword in the flexible PVC films & sheets market. Perstorp AB— a manufacturer of specialty chemicals, is innovating in sustainable flexible PVC materials that offer excellent cost performance ratio. Sustainable PVC sheets are replacing hygiene standards in hospitals, car seats, and leather jackets. These sustainable sheets are gaining prominence in cables and handbags, where manufacturers can move away from fossil-based raw materials.
PVC films & sheets are gaining popularity for their durability and cost efficiency. Manufacturers in the flexible PVC films & sheets market are tapping into incremental opportunities in cable insulations, artificial leather, vinyl flooring, automotive interiors, etc. Stringent legislation and improved additives are enhancing the quality of flexible PVC materials.
Lack of Options in Single Polymer Group Create Window for Business
The flexible PVC films & sheets market is projected to cross the valuation of US$ 8.8 Bn by the end of 2030. The food packaging industry is one of the key revenue generating industries for manufacturers. However, there are not many options in single polymer group or super-plastics that meet a multitude of performance requirements. Hence, companies in the flexible PVC films & sheets market are increasing their R&D to improve their production capabilities in single polymer group.
In order to gain a competitive edge, companies are innovating in solutions that are single polymer group, affordable for manufacturers and demand few changes in machinery. Companies are developing films and sheets, which are accepted by municipal recycling systems.
Plasticized Vinyl Gains Popularity as Vegan Leather in Fashion Industry
Apart from packaging and medical applications, PVC is being highly publicized in the fashion industry. The trend of vinyl fashions is generating value-grab opportunities for manufacturers in the flexible PVC films & sheets market. Even fireman jackets and raincoats are catalyzing the demand for flexible PVC materials. PVC coated fabrics are being extensively used in clothing application such as haute couture fashion.
PVC is being known as the new vegan leather in the flexible PVC films & sheets market. Traditional leather in shoes, jackets, and bags is being replaced with flexible plastic materials. Animal-friendly attributes of plasticized vinyl are grabbing the attention of fashion designers.
Flexible Solar Panels Deploy High Levels of Energy Conversion
Next-gen flexible solar panels are augmenting energy storage capabilities. Flexible PVC membranes are significantly lighter than framed panels. Companies in the flexible PVC films & sheets market are increasing their production capabilities in PVC membranes that contain no toxic materials and last longer, as compared to traditional solar panels. This is evident since it has been found that traditional materials in panels capture much less energy.
Heliatek— a manufacturer of organic solar films is innovating in flexible solar skin solutions that facilitate high levels of electricity conversion. Companies in the flexible PVC films & sheets market are increasing their testing capabilities to commercialize flexible solar skin solutions. They are investing in equipment and technologies that enable industrial manufacturing of flexible PVC membranes.
Clear/Transparent Products Dominated Flexible PVC Films & Sheets Market in 2020
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.
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 2020. 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 2020. 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 2020. 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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Scope of the Report
Transparency Market Research’s recent report on the global flexible PVC films & sheets market provides readers with an assessment of the landscape of the market with the help of a comprehensive outlook. This study on the global flexible PVC films & sheets market analyzes the market for the period from 2021 to 2030, wherein 2020 is the base year. The report enables readers to make important decisions regarding their business, with the help of a wealth of information enclosed in the study.
VRR’s study on the global flexible PVC films & sheets market also provides data on developments made by important players and stakeholders in the market, along with competition analysis. The report also provides understanding of drivers, restraints, opportunities, and market trends.
Key Questions Answered
This report answers these questions about the global flexible PVC films & sheets market, aiding major stakeholders and key players in making correct decisions and strategizing for expansion of their business.
This VRR report on the global flexible PVC films & sheets market is based on a complete and comprehensive evaluation of the market, supported by secondary and primary sources. The competition scenario of the global flexible PVC films & sheets market is supported by an assessment of different factors that influence the market on a minute and granular level. By thoroughly analyzing the historical data and current trends, researchers of the global flexible PVC films & sheets market arrived at predictions and estimations and calculated the market forecast.
This report uses an analytical triangulation method to estimate the global flexible PVC films & sheets market by using bottom-up and top-down approaches.
This detailed assessment of the global flexible PVC films & sheets market, along with an overview of the market, is provided on the basis of a careful examination of growth opportunities. Analysts’ conclusions on how the global flexible PVC films & sheets market is set to expand are based on carefully vetted primary and secondary sources.