North America PVC Films Market Size Worth $2.7 Billion By 2027

The North America PVC films market size is anticipated to reach USD 2.7 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 2.6% from 2020 to 2027. The adoption of Polyvinyl Chloride (PVC) films in the packaging of food and beverages is increasing as these films provide a cost-effective and flexible packaging solution to the consumers.

Food and beverage is the most prominent market for the packaging industry. Growth in the population (via immigrations), rise in the working women population, increase in disposable income, and hectic work-life schedules have macro economically boosted the demand for ready-to-eat food products, packaged meals, and outdoor dining.

North America is considered to be one of the major and technologically advanced regional markets for PVC films as compared to other regions, such as the Asia Pacific and Africa. The recent outbreak of COVID-19 has resulted in the slowdown or halt in manufacturing activities, restrictions on supply and transport, and the slowdown of infrastructure projects, which is expected to negatively impact the demand for PVC films in the fourth quarter of 2020.

Building materials are among the prominent end uses of PVC films in North America. The economic growth of the region has driven government spending on construction. Moreover, the rise in annual incomes and urbanization have driven the construction activities of residential buildings. According to the Census Bureau of the U.S., the total value of construction put into place in July 2019 was USD 1,366,042 million. It increased to a value of USD 1,436,727 million in March 2020. However, it declined to USD 1,364,565 million in July 2020 due to the unprecedented outbreak of COVID-19 in the country.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/north-america-polyvinyl-chloride-pvc-films-market

Further key findings from the report suggest:

The packaging segment was the largest end-use segment in 2019. PVC-based shrink wraps are used for preventing the products from getting spoiled in retail and shipping environments owing to their inexpensiveness, multi-purpose capabilities, and lightweight properties
The rising need for sustainable and durable packaging products is anticipated to drive the demand for PVC films in the food packaging industry
By product, monomeric flexible PVC films are expected to expand at a CAGR of 3.1% in terms of revenue from 2020 to 2027. These films are best suited for indoor flat applications and have an outdoor durability of 3-4 years for black and 2-3 years for colored products
As of 2019, the U.S. accounted for more than 70.0% share of the regional revenue. Increasing demand for PVC films in the medical applications for manufacturing capsules, tablets, drainage bags, and other medical equipment is assisting the market growth in the country.

Biodegradable Plastic Market Worth $7.6 Billion By 2027

The global biodegradable plastic market size is projected to reach USD 7.6 billion by 2027, rising at a revenue-based CAGR of 9.4% during the forecast period, according to a report by Grand View Research, Inc. Increasing use of biodegradable products, owing to strict governmental laws for prohibiting use of conventional plastics and growing awareness among public toward their ill-effects is boosting the market growth.

Hand holding light bulb against nature on green leaf with icons energy sources for renewable, sustainable development. Ecology concept. Elements of this image furnished by NASA. (Hand holding light bulb against nature on green leaf with icons energy s

Biodegradable plastics are made of renewable raw materials and decompose in the environment within a reasonable period of time. Many of these require biodegradable additives to enhance the biodegradation process and some require a specific environment to disintegrate. Time taken by plastics to decompose depends upon various factors such as raw materials used and environmental conditions such as moisture and temperature.

The starch-based segment led the global biodegradable plastic market, since they are used in various applications such as packaging, consumer electronics, agriculture, automotive, and textiles. Polylactic Acid (PLA) is also one of the most consumed products, which is used in 3D printing, mulch film, and packaging.

Ban on plastics by European Commission is anticipated to drive the packaging segment growth over the forecast period. Novel applications of biodegradable products in the medical sector for drug encapsulation and medical surgeries are also being increasingly practiced.

People across the globe, are facing grave issues of waste as conventional plastics take hundreds of years to decompose. To tackle this issue several countries have banned the use of single-use plastic products and are promoting eco-friendly biodegradable products. Ban of non-reusable conventional plastics in many regions, especially in Europe and North America, is estimated to propel the market demand. Additionally, improving standard of living and increasing disposable income in developing countries are likely to augur well for the market in Asia Pacific and Central and South America.

Key players are investing in research and development activities in order to create improved products that are strong and can be easily decomposed in natural environment. Many companies have integrated value chain to serve customers better and improve company profits.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/biodegradable-plastics-market

Further key findings from the report suggest:

The Polyhydroxyalkanoate (PHA) segment is projected to expand at a significant CAGR of 10.0% in terms of revenue during the forecast period, owing to increasing use of PHA in medical and other applications
Packaging is the largest end-use segment, followed by the agriculture sector, owing to replacement of conventional plastics in food packaging such as boxes, wraps, cups, plates
Europe is the largest region in terms of revenue as well as volume. However, Asia Pacific is expected to emerge as the fastest growing region
Major players in the biodegradable plastic industry include BASF SE, NatureWorks LLC, Mitsubishi Chemical Corporation, Carbion, and Biome Technologies plc.

Furfuryl Alcohol Market Size Worth $772.6 Million By 2027

The global furfuryl alcohol market size is anticipated to reach USD 772.6 million by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 6.2% from 2020 to 2027. The growth in the market can be attributed to mounting demand for furfuryl alcohol from furan foundry binders. The principal use of the product is as a monomer in resins synthesis for bonding foundry sands in the conventional FURAN-NO-BAKE method and production of molds and cores, such as Warm-box, Hot-box, and gas hardened processes.

The product is extensively used in the production of furan resins and foundry sand binders owing to its unique properties. The flexibility of the product is huge as a binder base. It is also used in adhesive formulations either by itself or in combination with urea, acetone or phenol to produce solid resins. These types of resins are used for manufacturing aircraft components, fiberglass, and in the automotive industry. Growing demand for furfuryl alcohol resins from the construction and automotive sectors is expected to drive the market in the near future.

Growth in end-use industries across key countries in Asia Pacific is estimated to fuel the demand for furfuryl alcohol over the forecast period. However, the outbreak of coronavirus disease in Wuhan, China, in December 2019 has negatively influenced the Chinese markets as well as the economy. Shutdown of factories, trade bans, and domestic lockdowns are estimated to hamper the market growth in the country over a short period. The further spread of pandemic to India, Japan, South Korea, and Pakistan has blocked the raw material supply. China, the most affected Asian economy and the leading manufacturer, has observed a complete lockdown of manufacturing units in the country, which is estimated to result in the supply-demand gap in the short run.

Manufacturers involved in the market are integrated across the value chain. Companies such as TransFurans Chemicals bvba, ILLOVO SUGAR AFRICA (PTY) LTD, Pennakem, LLC, Hongye Holdings Group Corp., Ltd., and Hebeichem are among the key players as they have higher furfuryl alcohol output as compared to other players in the market. The leaders are well-equipped with large manufacturing facilities and are engaged in several research and development activities. These players are also leaders in the global market in terms of revenue, employee count, global footprint, and clientele base. ILLOVO SUGAR AFRICA (PTY) LTD. is integrated across the value chain. The company uses own sugarcane bagasse for furfural production and also manufactures furfuryl alcohol by using the furfural produced in their plant.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/furfuryl-alcohol-market

Further key findings from the report suggest:

In 2019, resins emerged as the largest application segment owing to growing utilization of furfuryl alcohol in the production of furan resins and foundry sand binders for the foundry sector
In 2019, foundry emerged as the largest end-use segment due to wide utilization of furfuryl alcohol in the production of molds and cores for metal casting
In 2019, Asia Pacific emerged as the largest regional segment owing to mounting demand for furfuryl alcohol from several end-use industries, especially in India and China.