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 | Revenue, Key Players, Supply-Demand, Investment Feasibility and Forecast 2023

The Global Polyvinyl Alcohol (PVA) 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. Moreover, 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.

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 | Growth – Key Futuristic Trends and Competitive Landscape 2023

Polyvinyl Alcohol which is formulated by the polymerization of vinyl acetate monomer followed by hydrolysis has a considerable number of applications in a plethora of end-use industries such as construction, textile, food packaging, coatings, paper, and pharmaceutical depending on its different grades. The usage of Polyvinyl Alcohol in industries such as that of construction chemicals has significantly added to the development of the market previously and is expected to continue to do so in the coming years. Furthermore, owing to high water solubility and biodegradability, PVOH has also been progressively used in the packaging industry to a great extent.

The Polyvinyl Alcohol Market was previously valued at USD 1,391.2 million in 2017 and is projected to touch USD 1,769.2 million by the end of the forecast period while growing at a CAGR of 4.59 percent approximately. A big chunk of the revenue of the Polyvinyl Alcohol Market globally is primarily from the emerging markets, and the demand is also chiefly focused in the Asia Pacific region. It has also been observed that there is a substantial increase in the usage of sustainable materials due to climate change that has emerged as a challenge globally. As a result of this, Polyvinyl Alcohol which is a biodegradable polymer; is being extensively used as a sustainable packaging material throughout the packaging industry. The increasing penetration of packed foods across the globe has only further contributed to the development of the market. The demand stemming from the packaging industry for sustainable packaging around the world is expected to provide new market avenues for the growth of the Polyvinyl Alcohol Market in the region.

Furthermore, the usage of PVOH in the production of adhesives is expected to observe a significant demand rise during the forecast period. As the usage of PVOH in adhesives manufacturing improves many properties such as enhanced adhesion to hydrophilic substrates, decent wet tack, superior crosslinking, and good heat resistance it is expected to boost demand for the market. Similarly, the penetration of VAEs in the application industries will also possibly lead to an optimistic demand for the Polyvinyl Alcohol Market as a polymerization aid.

Segmental Analysis

The Polyvinyl Alcohols Market globally is segmented on the basis of grade and end-use. Based on the grade, the market is segmented into partially hydrolysed polyvinyl alcohol and fully hydrolysed polyvinyl alcohol. Partially hydrolysed polyvinyl alcohol is responsible for the biggest market share of 56.6 percent in 2017 with a market value of USD 788.3 million and expected to reach USD 1,052.2 million by 2023, due to its low viscosity and high water solubility properties. The Polyvinyl Alcohol Market on the basis of the end-use industry is segmented into packaging, electronics, medical, paper, construction, and textile. The packaging segment has been accredited for the biggest market share of 38.2 percent in 2017. It has been appraised that by the end of the forecast period, the packaging segment is expected to touch USD 695.4 million in revenues by 2023 as opposed to USD 532.1 million in 2017.

Detailed Regional Analysis

The Polyvinyl Alcohol Market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa regions for the purpose of the regional analysis. The Asia Pacific region has emerged as the most rapidly developing market in 2017 and is projected to develop at a strong CAGR of 5.45 percent through the review period and is anticipated to touch USD 791.3 million by the end of 2023. The reinforcing growth of the application industries such as textile, food packaging, and construction can be credited towards this development. The European region has appeared as the next major region in the Polyvinyl Alcohol Market and is estimated to touch USD 394.6 million by 2023. The demand for sustainable packaging can be accredited to the market growth in the region. The North American region is another major region in the market for polyvinyl alcohol with growing demand for the product as a polymerization aid.

Competitive Analysis

The Polyvinyl Alcohol demand is developing at a slow rate. However, the demand from evolving economies is slated to develop reasonably. The market is also observed to be semi-fragmented and is controlled by tier-1 players. Sekisui Chemical Co., Ltd., OCI COMPANY Ltd., Anhui Wanwei Group., The Nippon Synthetic Chemical Industry Co., Ltd., Merck KGaA, KURARAY CO., LTD., Chang Chun Group., Japan Vam & Poval Co., Ltd., and China Petroleum & Chemical Corporation among others are some of the significant companies operating in the Polyvinyl Alcohols Market globally.

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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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