PVC Film For Medical Market Overview:
The Global PVC Film for Medical Market size is expected to grow from USD 2546.70 million in 2022 to USD 3585.77 million by 2030, at a CAGR of 4.37 % during the forecast period (2023-2030).
Plastics also referred to as synthetic resins, are categorized into two distinct types: thermosetting resins and thermoplastic resins. Among the thermoplastic resins, PVC stands alongside counterparts like polyethylene (PE), polystyrene (PS), and polypropylene (PP). Comprising 57% chlorine and 43% carbon, PVC is primarily derived from ethylene sourced from oil or gas, contributing to its unique composition. Importantly, PVC’s production necessitates fewer nonrenewable resources, notably oil or natural gas, setting it apart as an eco-conscious plastic choice.
In contrast, plastics such as PE, PP, PET, and PS rely entirely on oil or gas for their production. Notably, PVC has risen to become the world’s third most widely used commodity plastic, following closely behind polyethylene and polypropylene.
Top Key Players in PVC Film for Medical Market:
Polymershapes LLC, Adams Plastic Inc, Ercros, INOVYN, Shin-Etsu/Cires, C.I. TAKIRON Corporation, Achilles Corporation, Tekra, Tekni-Plex, Presco, VESTOLIT, Plastatech Engineering Ltd., Caprihans India Limited, Vinnolit GmbH & Co. KG, and Other Major Players.
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Market Dynamics and Factors for PVC Film in Medical Market:
Drivers:
The Growing Applications Of PVC In Healthcare Facilities
With about 40% of the market, PVC is the material that is most frequently used in the medical sector. The two primary uses of single-use PVC compounds in healthcare settings are flexible containers and tubing. The use of a container typically involves the storage of blood and blood components, urine collection, or for ostomy supplies. In contrast, the tubing segment includes equipment for hemodialysis, catheters, heart-lung bypass, blood-taking and blood-giving sets, etc. Utilizing PVC films, a wide range of plastic products that met medical standards could be produced, from office supplies to building materials to medical devices. Observation gloves, flooring, wall coverings, packaging, and other supplies are a few examples. PVC can be used in rigid and flexible forms.
Opportunities:
The Growing Awareness Among Individuals Regarding Blood Donation
For the effective treatment of patients with blood and bone marrow disorders, inherited hemoglobin disorders, immune deficiency conditions, trauma victims, emergency room patients, patients undergoing complex medical and surgical procedures, and children with severe anemia brought on by malaria and malnutrition, blood and blood products are essential resources. Blood is needed by everyone, but not everyone has access to it. Particularly severe blood shortages exist in low- and middle-income nations. In order to address this issue, the WHO, NGOs, and the government have launched campaigns to educate people about the value of blood donation.
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Segmentation Analysis of the PVC Film for Medical Market:
By Product Type, the flexible segment had the largest market share. Flexible PVC is a soft, flexible material with a range of transparency to opacity. PVC is made with plasticizers, which give the finished product a rubbery property.
By Application, bags are likely to dominate in this area. The development of this segment is attributed to the increasing number of blood donations and the rising usage of urinary drainage bags.
By Product Type
- Rigid
- Flexible
- Blown
By Application
- Bags
- Tubing
- Blister Packaging
- Other Applications
Regional Analysis of the PVC Film for Medical Market:
The Asia Pacific region is excepted to dominate the PVC film for the medical market over the forecast period. Countries such as China, Indonesia, India, South Korea, and Australia are the prominent countries supporting the market’s growth in this region. According to the Economic Times, India produces about 1.5 million tons of PVC per year, which accounts for less than half of the country’s total consumption of about 3.2 million tons.
By Region
- North America (U.S., Canada, Mexico)
- Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
- Western Europe (Germany, U.K., France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
- Asia-Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
- Middle East & Africa (Turkey, Saudi Arabia, Bahrain, Kuwait, Qatar, UAE, Israel, South Africa)
- South America (Brazil, Argentina, Rest of SA)
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Key Industry Development:
In April 2021, Inovyn, Europe’s leading PVC producer and a subsidiary of Ineos in the United Kingdom, launched a showcase website for its Biovyn resin, which it claims is the world’s first commercially available bio-attributed PVC. Following increased demand across multiple industries such as healthcare, medical, construction, automotive, and retail fashion, the website includes a webinar information series on bio-attributed PVC.
In April 2020, Plastatech Engineering Ltd. along with its sister company, Duro-Last® Inc., announced the development of flexible PVC gowns and face masks. The gowns are water and fluid-repellent while the masks and gowns both are washable and reusable.
Report Highlights:
- A complete analysis of the market, including the parent industry
- Important market dynamics and trends
- Market segmentation
- Historical, current, and projected size of the market based on value and volume
- Market shares and strategies of key players
- Recommendations to companies for strengthening their foothold in the market
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