Polyvinyl Alcohol Market - Global Industry Research Report and Forecast 2023
Polyvinyl alcohol (PVOH) is produced by polymerization of vinyl acetate monomer followed by hydrolysis. PVOH finds application in various end-use industries such as food packaging, paper, textile, construction, coatings, and pharmaceutical. Polyvinyl alcohol exhibits resistance to moisture, therefore, it is predominantly used in the food packaging. Due to high water solubility and biodegradability, PVOH has increasingly been used in the packaging industry.
The polyvinyl alcohol market is expected to grow at a CAGR of 4.09% during the forecast period in terms of value 2018-2023.
Increasing demand for sustainable packaging materials is driving the global polyvinyl alcohol market. With rising environmental scrutiny on plastic consumption, the biodegradable plastics are gaining more traction across the packaging industry, especially, food packaging. The rising popularity of packed foods among consumers with the changing lifestyle and an increasing number of the working population is propelling the demand for sustainable packaging materials. The properties of packaging materials play a vital role in the food packaging industry to enhance the shelf life of food products. Thus, PVOH is emerging as a choice of packaging material among the food packaging industry owing to its excellent oxygen barrier properties, solubility in water and biodegradability. Thus, increasing demand for packaged food among the consumers may, in turn, witness demand for sustainable packaging materials during the forecast period.
However, vinyl acetate monomer, a key raw material used in the manufacturing of polyvinyl alcohol, may challenge the market on the backdrop of rising prices of vinyl acetate monomer due to tighter supply.
Market Segmentation
The polyvinyl alcohol market is categorized on the basis of type, application, and region. On the basis of the product type, the market is segmented into tocopherol, dimethicone, parabens, titanium dioxide, sodium lauryl sulfate, sodium laureth sulfate, formaldehyde, benzones, alcohols, isopropyl, glycerols, and others. Formaldehyde accounted for the largest market share in the polyvinyl alcohol and is expected to grow at a CAGR of 6.72% in terms of value over the forecast period.
On the basis of the application, the market is segmented into skincare, fragrance, hair care, color cosmetics, bath & shower, and others. Among these skin care accounted for the largest market share and is expected to reach approximately USD 4437.3 million by 2023.
Based on the region, the market is segmented into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.
Regional Analysis
Regionally, the polyvinyl alcohol market is spanned across five regions namely Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Among these, Asia Pacific emerged as the fastest growing market in 2017 and is expected to grow at a healthy CAGR of 5.45% during the review period. Growing applications with an increasing demand for polyvinyl alcohol in the textile industries is expected to boost market growth.
Europe emerged as the second largest region in the global polyvinyl alcohol market and is expected to reach USD 394.6 million by 2023. Increasing preference for biodegradable packaging materials over the traditional materials on the backdrop of stringent regulations in the region can be attributed to the demand for polyvinyl alcohol in the region.
North America is another prominent region in the polyvinyl alcohol market with increasing demand for the anti-aging cosmetics products coupled with a rising geriatric population. Other regions are expected to witness moderate growth during the review period with developing polyvinyl alcohol industry.
Key Findings
- Global polyvinyl alcohol market is projected to reach USD 1,769.2 million by 2023 at a healthy CAGR over the forecast period.
• Partially hydrolyzed polyvinyl alcohol accounted for the largest value share in the grades segment accounting for value market share of over 50% in 2017.
• Packaging as an end-user industry accounted for the largest market share and is expected to expand at a CAGR of 4.56% during the forecast period.
• The Asia Pacific is the largest and fastest growing market, which accounted for over 40% value share of the global polyvinyl alcohol market in 2017.
Key Players
Some of the Key Players operating in the global polyvinyl alcohol market are Merck KGaA (Germany), OCI COMPANY Ltd.(South Korea), The Nippon Synthetic Chemical Industry Co., Ltd.(Japan), Sekisui Chemical Co., Ltd. (Japan), KURARAY CO., LTD.(Japan), Anhui Wanwei Group.(China), Chang Chun Group.(Taiwan), Japan Vam & Poval Co.,Ltd.(Japan), and China Petroleum & Chemical Corporation (China) among others.
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Global Polyvinyl Alcohol (PVA) Market is predicted to reach USD 1.21 billion by 2025 owing to the rising need for bio-based PVA alcohol products.
Polyvinyl alcohol is an odorless, translucent, tasteless, cream or white colored granular powder which is used as a moisture barrier film.
PVA, also known as synthetic water-soluble polymer, is used as food supplement tablets and for food stuffs that contain additions or dry foods with additions that require protection from moisture.Polyvinyl alcohol is not a naturally occurring product and is used in high-moisture food stuffs to retain the overall satisfactory texture, taste and quality of food stuffs.
Polyvinyl alcohol is also present in the confectionary products to preserve the integrity of moisture sensitive ingredients.Download Free Sample Report @ https://www.millioninsights.com/industry-reports/polyvinyl-alcohol-pva-market-size/request-sampleThe use of detergents has increased since people are getting aware of cleanliness and maintenance of hygienic atmosphere.
Hence, the agrochemical sector is expected to grow significantly in the coming years, contributing to the market.Moreover, the rising concerns about health threats from dumping of packaging of products has increased the need for biodegradable packaging solutions.
Numerous antiques are also preserved with the help of polyvinyl alcohol (PVA) films which altogether triggers the growth of the PVA market.
Polyvinyl Alcohol (PVA) Market by DBMR gives experiences with respect to the market elements affecting the industry, degree, division and overlays shadow upon the business players including the great centered scene and upcoming years.Polyvinyl alcohol (PVA) market size is expected to grow at a compound annual growth rate of 5.54% for the forecast period of 2021 to 2028.
Data Bridge Market Research report on polyvinyl alcohol (PVA) market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecasted period while providing their impacts on the market’s growth.Polyvinyl alcohol (PVA) is a type of a colorless, hydrophilic water-soluble synthetic polymer and has efficient adhesive properties and film-forming.
It is made by polymerization of vinyl acetate monomer followed by hydrolysis.
It closes with careful and genuine Polyvinyl Alcohol (PVA) market assessments thinking about every single boundary and market component.
Further, division of the market is considered expressly to give critical data for beneficial market speculations.Get a Special Sample Report@ https://www.databridgemarketresearch.com/request-a-sample/?dbmr=global-polyvinyl-alcohol-pva-marketOrganizations Mentioned:Merck KGaAOCI COMPANY Ltd.SEKISUI CHEMICAL CO. LTD.Kuraray Europe GmbHChang Chun GroupJAPAN VAM & POVAL CO. LTD.DuPontChina Petrochemical CorporationMitsubishi Chemical CorporationSNP Inc.SolvayEastman Chemical CompanyAICELLO CORPORATIONCortec CorporationThe report Polyvinyl Alcohol (PVA) Industry gives moved portrayal about the division of the market dependent on Application, and leads with a realistic construction of the examples and limits of the various divides and sub pieces.
The report furthermore gives exhaustive PEST investigation to all of the five locales ensuing to surveying political, monetary, social and mechanical segments affecting the Polyvinyl Alcohol (PVA) market.The overall Polyvinyl Alcohol (PVA) industry is Segmented as,On the basis of grade, the polyvinyl alcohol (PVA) market is segmented into fully hydrolyzed, partially hydrolyzed, sub-partially hydrolyzed, low foaming grades and others.The application segment for polyvinyl alcohol (PVA) market is segmented into papermaking and processing, building and construction, electronics, textile, medical, personal care and others.
The global Polyvinyl Alcohol (PVA) Films Market is estimated to develop at a substantial CAGR for the duration of the prediction.
This reason is likely to motivate the demand for polyvinyl alcohol (PVA) films, mainly in the packing business.
The polyvinyl alcohol (PVA) films are atmosphere responsive and they do not discharge any poisonous gases on burning.Increasing use in the agricultural business is likely to offer huge openings for business members.
But, inconsistent prices of petrochemicals are blamable for an unbalanced pricing of PVA films above the previous a small number of years.
The polyvinyl alcohol films market on the source of Type of Application could span Embroidery, Agrochemical Packing, Laundry Bags, and Detergent Packing [Industrial Detergent, Consumer Detergent].Download Free Sample Report @ https://www.millioninsights.com/industry-reports/polyvinyl-alcohol-pva-films-market/request-sampleThe packing of Detergent was the leading use for water-soluble applications in the past few years.
The stable infiltration of washing machines in emerging markets, like India and China is expected to be an important reason motivating the demand for polyvinyl alcohol (PVA) films in the application of consumer detergent packing.The application of the water-soluble films in an embroidery is yet at their budding phase.
