The global Polyvinyl Alcohol (PVA) Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.
Market Overview:
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.
Key Players:
- Eastman Chemical Company
- I. du Pont de Nemours and Company
- OCI Corporation
- Celanese Corporation
- Nippon Synthetic Chemical Industry Co., Ltd.
- Solutia
- Sekisui Chemical Co., Ltd.
- Chang Chun Petrochemical Co., Ltd.
- Japan VAM & Poval Co., Ltd.
- Kuraray Co., Ltd.
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Growth Drivers:
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.
The use of detergents has increased since people are getting aware of cleanliness and maintenance of hygienic atmosphere. Fertilizers, insecticides, pesticides and other chemicals are also witnessing an increase due to the rising demand of high yield in agricultural sector. Also, the growth in hospitality sectors like resorts, hotels, amphitheaters, entertainment industry has further contributed to the daily usage of detergents which again boosts polyvinyl alcohol industry.
Additionally, the rapid industrialization along with the need of hygienic environment of workplaces has increased the demand for detergents at the same time. The agrochemical packaging and the detergents have the largest share in polyvinyl alcohol market in terms of volume. 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 have increased the need for biodegradable packaging solutions. This has resulted positively to polyvinyl alcohol (PVA) industry in the past years and is expected to continue in future as well. However, the strict government regulations that restricts the use of some packaging materials has motivated the packaging companies to the use of polyvinyl alcohol (PVA), ultimately boosting the market.
Polyvinyl alcohol (PVA) is also largely used in embroidery for the protection of aesthetic appearance. Numerous antiques are also preserved with the help of polyvinyl alcohol (PVA) films which altogether triggers the growth of the PVA market. The rise in population along with improved standard of living has given rise to the laundry services, which encourages the use of polyvinyl alcohol (PVA) film in the bags used in laundries.
Hence, the flourishing laundry segment is predicted to offer promising growth to polyvinyl alcohol (PVA) industry in the years to come. Another driving factor for the market is the e-waste. The increasing health hazards are demanding the use of biodegradable polyvinyl alcohol (PVA) films for electronic gadgets like LCD panels, laptops, sunglasses, optical filters, etc. which again boosts the industry.
End-use Outlook:
- Paper
- Food Packaging
- Construction
- Electronics
Regional Outlook:
Geographically, the market is segmented as North America, Central and South America, Asia Pacific, Europe, and Middle East & Africa. North America is expected to dominate PVA industry in the forecast period due to extensive use of polyvinyl alcohol (PVA) films for detergent packaging. This is followed by Asia Pacific region comprising emerging nations like China and Japan since they are the largest exporters of polyvinyl alcohol (PVA) films.
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