Polyvinyl Alcohol Market Driving Factors, Industry Analysis, Investment Feasibility and Trends, Outlook -2023

Polyvinyl Alcohol, aka PVOH, PVAI, or PVA, is a synthetic polymer that is made up of various molecules, all strung together. It is soluble in water and is highly effective in emulsifying, film forming, and has adhesive properties. It has no odor whatsoever, it is biodegradable, and is non-toxic in nature. It is also resistant to oils, solvents, and grease. PVA is ductile yet strong, flexible, and operates as a high oxygen and aroma barrier. It is used as an ophthalmic lubricant and contributes to various pharmaceutical products. It is used in the manufacturing process of artificial sponges, surface coatings, cosmetics, and other products.

According to Market Research Future (MRFR), the Global Polyvinyl Alcohol Market is at present valued at over USD 1,300 million and the projected valuation is expected to reach USD 1,769.2 million by 2023, showcasing an annual growth rate of 4.59%.

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The properties and the benefits of PVA make it a suitable choice across different industries. It finds its application for various end-user industries, which includes paper, construction, food packaging, textile, pharmaceuticals, and coatings. Additionally, polyvinyl alcohol is available in different grades, thereby acting as a major positive as it allows a vast pool of options for end-users to choose from. The physiochemical characteristics of the product are contributing to its heavy usage in manufacturing sustainable packaging. The Global PVA Market is expected to grow during the forecast period due to such contributors. However, the unpredictability of the raw material prices might be a huge setback to the market growth of polyvinyl alcohol.

Market Segmentation:

The Global Polyvinyl Alcohol Market is divided into different market Segmentation, namely by Grades and End-User Industries.

By Grades, the market divides into fully hydrolyzed and partially hydrolyzed polyvinyl alcohol. The partially hydrolyzed segment is expected to overpower the other during the entire review period.

By End-Users, the market includes electronics, packaging, medical, paper, construction, textile, and electronics. The packaging segment holds massive potential for the market players.

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Regional Analysis:

The Regional Market Segmentation of Polyvinyl Alcohol comprises all the major regions worldwide - Europe, Latin America, North America, Asia-Pacific, and the Middle East & Africa.

Asia-Pacific is the dominant market share holder of Polyvinyl Alcohol. The factor primarily driving the demand for this market is the expanding end-user industries. The region is also experiencing urbanization, fast-paced industrialization, and constructional activities, thereby attracting a number of market players and producers. This, in turn, is pushing the market growth of the Polyvinyl Alcohol Market herein.

Following Asia-Pacific, Europe stands tall as the second largest market for PVA products. The surging demand for sustainable packaging materials is driving the market in this region. North America is another region which is expected to drive significant revenues during the forecast period. However, both Latin America and the Middle East & Africa market will see slow and steady progress as compared to the other regions.

Competitive Analysis:

The Global Polyvinyl Alcohol Market boasts a number of reputed and noteworthy players, including Chang Chun Group, China Petroleum & Chemical Corporation, The Nippon Synthetic Chemical Industry Co., Ltd., Merck KGaA, Japan Vam & Poval Co., Ltd, OCI COMPANY Ltd., KURARAY CO., LTD., and Sekisui Chemical Co., Ltd.

Feb 2019, a Japanese company, named IGE Energy Co Ltd, announced the development of an all-new technology for wastewater treatment for buildings and other industries. The technology is said to be much more effective in protecting the environment.

Aug 2018, researchers from Chile discovered the formula to come up with a new and innovative biodegradable plastic bag named SoluBag. They used Polyvinyl Alcohol to create the water-soluble plastic bag, one which breaks down within minutes and doesn’t cause any harm to the environment.

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Polyvinyl Alcohol Market 2018 Analysis, Research, Share, Growth, Sales, Trends, Supply, Forecast to 2023

The Global Polyvinyl Alcohol Market is currently standing at over USD 1300 Mn and is projected to expand at a compound annual growth rate of 4.59% over the forecast period of 2018-2023, reveals Market Research Future (MRFR) in an exhaustive study. The market for Polyvinyl Alcohol is showing positive growth trend owing to its extensive use in varied industry verticals. PVA finds application in the food packaging, coatings, textiles, construction, paper, and the pharmaceuticals industry. Among them, the packaging industry makes extensive use of Polyvinyl Alcohol. Polyvinyl Alcohol is the preferred choice of materials for packaging as it exhibits the properties of solubility and biodegradability apart from being an excellent oxygen barrier. Increasing demand for packaged food among consumers is expected to spur the growth of the Global Polyvinyl Alcohol Market. Mo0reover, Polyvinyl Alcohol has been gaining traction due to rising scrutiny on plastic consumption. In an effort to reduce the harmful effects of plastic, governments and other environmental regulatory bodies are encouraging the use of biodegradable plastics. Demand for Polyvinyl Alcohol as an emulsifying and dispersing agent also boosts the growth of the market. 

Furthermore, Polyvinyl Alcohol is also used in vinyl-based emulsion in an array of applications including paints & coatings, textile, re-dispersible powders, and construction which adds to the growth of the market. Growing constructional activities are expected to provide an opportunity for the Global Polyvinyl Alcohol Market as it is used in a number of construction chemicals. However, volatility in the price of raw materials might act as a setback to the growth of the Global Polyvinyl Alcohol Market. The Global Polyvinyl Alcohol Market is expected to attain a valuation of USD 1,769.2 Mn by the end of 2023.

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Competitive Analysis

The notable players in the Global Polyvinyl Alcohol Market include Merck KGaA, The Nippon Synthetic Chemical Industry Co., Ltd., KURARAY CO., LTD., Chang Chun Group., China Petroleum & Chemical Corporation, OCI COMPANY Ltd., Sekisui Chemical Co., Ltd., and Japan Vam & Poval Co., Ltd.

Segmentation

The Global Polyvinyl Alcohol Market has been segmented based on Grade and End-Use Industry.

By Grade, the market has been segmented into Partially Hydrolyzed and Fully Hydrolyzed. The partially hydrolyzed segment is the leading segment by grade and its low viscosity, and high water-solubility properties have helped it garner accolades from diverse industries.

By End-Use Industry, the market has been segmented into Food Packaging, Textile, Paper, Medical, Construction, and Electronics. Increasing scrutiny on traditional packaging materials and increasing awareness regarding sustainable packaging has helped the packaging industry to lead the market.

Regional Analysis

The Global Polyvinyl Alcohol Market spans across the regions of North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Asia Pacific has been domineering the Global Polyvinyl Alcohol Market. The growth of end-use industries in the Asia Pacific region induces high demand for Polyvinyl Alcohol Market. Moreover, other than urbanization, rapid industrialization, and towering constructional activities in the region, Asia Pacific is also home to a considerable number of producers which favors the growth of the market. Europe ranks the second in the Global Polyvinyl Alcohol Market. Heightened demand for sustainable packaging materials drives the market in Europe. North America is also a significant growth pocket.

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Polyvinyl Alcohol Market 2018 | Forecast, Size, Growth, Opportunities, and Trends 2023

According to a new report by Market Research Future, Global Polyvinyl Alcohol (PVA) Market is predicted to touch a valuation of 1,769.2 million by the end of 2023. The market for PVA is estimated to reflect a CAGR of 4.59 % over the assessment period (2017-2023) owing to its application in textile, food packaging, paper, coating, pharmaceuticals, and construction. The extensive use of Polyvinyl Alcohol in the construction industry has significantly added to the market to develop.

Industry News

An environmentally friendly and antibacterial Polyvinyl Alcohol blend membrane was prepared for air filtration with the help of non-solvent induced phase seperation method. The thermal behavior, mechanical property, chemical structure, and surface chargbe of the resultant were characterized which resulted that PVA nad CS were miscible due to intermolecular hydrogen bond between them.

Drivers and Restraints Affecting the Market Growth

The increasing penetration of packed food worldwide has contributed to the growth of the market. The demand for packaging is fuelled by the increase in cost per packaging, expansion of consumer base, and sustainability in the major markets like India, China, and the U.S. Moreover, Polyvinyl Alcohol has several applications such as textile, paper, ceramic, coatings, and wood. The various grades are useful various end-use industries. Also, similar grades can be utilized for various end-uses. This ability has galvanized the demand for Polyvinyl Alcohol over the last few years.

With the increasing global population along with growing disposable income, there has been an increase in purchase power parity (PPP) which has resulted in the improved living standard. This has resulted in the adoption of additional services such as laundry. The bags used in laundry are usually made using PVA films as it becomes easy for disposal, which has further led to the expansion of Polyvinyl Alcohol Market.

Meanwhile, strict mandates have restricted the use of Polyvinyl Alcohol in several applications. For instance, National Institute for Occupational Safety and Health has formulated various preventive measures after exposure to the PVA and environmental safety.

Global Polyvinyl Alcohol Market Segmentation

Globally, the market for Polyvinyl Alcohol has been segmented on the basis Grade and End Use.

The market has been segmented into fully hydrolyzed Polyvinyl Alcohol and partially hydrolyzed Polyvinyl Alcohol. Among these, the partially hydrolyzed Polyvinyl Alcohol segment has been estimated to hold the largest market share of 56.6 % in 2017. It is expected to touch USD 1052.2 million by the end of 2023, owing to its high water solubility properties and low viscosity.

The market has been segmented into medical, paper, construction, textile, packaging, and electronics based on the end use. Among these, the packaging industry has been accredited to hold the largest market share with 38.2 % in 2017 and is anticipated to show its dominance over the assessment period. Growing need for non-toxic and biocompatible packaging solutions in food and beverage industry is anticipated to spur the market growth. Due to properties such as moisture content and good crosslinking density, PVA is extensively used in food packaging industry. It has also been predicted that the packaging segment is likely to reach USD 695.4 million by the end of 2023.

PVA is also largely used in construction industry owing to its several properties such as adsorption capacity, particle size and water solubility, static filtration of cement slurries, and pore solution viscosity. Construction industry has been witnessed to experience a robust growth due to infrastructural development in Japan, China, and India.

Asia Pacific: The Most Rapidly Developing Market for Polyvinyl Alcohol

Geographically, the market for Polyvinyl Alcohol has been segmented into Europe, North America, Asia Pacific, Middle East and Africa, and Latin America. The Asia Pacific region has been witnessed to emerge as the most rapidly developing market in 2017 and is expected to develop at a staggering CAGR of 5.45 % over the assessment period. It has been anticipated to reach a revenue of USD 791.3 million by the end of 2023. With the extensive growth of industries such as food packaging, textile, and construction has spurred the growth of the market in this region.

The European region has emerged as the next main region after Asia Pacific and is predicted to reach USD 394.6 million by the end of 2023 owing to the increasing demand for sustainable packaging.

With increasing demand for the product as polymerization aid, North America is another main region in the market for Global Polyvinyl Alcohol.

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Polyvinyl Alcohol Forecast by Application Consumer, Commercial, Products, Industrial 2018-2023

Market Overview
Polyvinyl Alcohol (PVA) is categorized as partially hydrolyzed and fully hydrolyzed. Partially hydrolyzed PVA is widely used for food packaging due to biodegradability, moisture resistance, and its cross-linking properties. Furthermore, the increasing use of PVA in food supplements is likely to propel the market growth. PVA also finds application in end-use industries such as textile, paper, pharmaceuticals, and construction among others. It is extensively used in textile industry as warp sizing agent due to abrasion resistance, high tensile strength, colorfastness, and flexibility exhibited by the product. Growing textile and apparel industry coupled with changing fashion trends and increasing purchasing power is stimulating the product demand. Due to its non-toxicity and biocompatibility, it is increasingly used in the healthcare industry for manufacturing contact lenses, drug delivery, tissue engineering, and wound dressing. The use of PVA in coating industry as a result of superior strength is further driving the market growth.

Competitive Analysis
Some of the prominent players in the Global Polyvinyl Alcohol Market are Sekisui Chemical Co, Ltd (Japan), The Nippon Synthetic Chemical Industry Co., Ltd (Japan), Merck KGaA (Germany), Anhui Wanwei Group (China), SNP, Inc. (U.S.), Kuraray Co., Ltd (Japan), Polysciences, Inc (U.S.), Polychem(Mumbai), Astrra Chemicals (India), Japan Vam and Poval Co., Ltd (Japan).

Market Segmentation
The Global Polyvinyl Alcohol Market is segmented into segmented into grade, end-use industry, and region.

On the Basis of Grade, the Global Polyvinyl Alcohol Market is bifurcated into partially hydrolyzed and fully hydrolyzed.

Based on Application, the Global Polyvinyl Alcohol Market is segmented into food packaging, textile, paper, medical, construction, and electronics.

Geographically, the market is divided into five key regions, including Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.

Regional Analysis
Asia Pacific region is growing at a staggering rate as a result of changing packaging trends in the cosmetics, and food & beverage industries. Rising use of biodegradable material by packaging industry in order to prevent pollution through landfills causing a negative impact on the environment and human health is fueling the market demand of the product. Rising construction industry as a result of growing population and improving standard and quality of living is likely to propel the market growth.

North America and Europe region are witnessing significant growth for Polyvinyl Alcohol owing to rising demand for flexible packaging. Moreover, targets set for recycling the plastic waste in order to reduce the environmental issues in these region are driving the market growth.

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