Polyvinyl Alcohol Market Growth
Polyvinyl alcohol (PVA) is a synthetic polymer employed for a variety of uses such as paper, textiles, and coatings manufacturing. PVA is also used in healthcare applications owing to being water-soluble, biocompatible, and low toxicity. The global polyvinyl alcohol (PVA) market is growing sustainably owing to the application expanse and growing adoption across end-user industries.
According to Market Research Future (MRFR), the global POLYVINYL ALCOHOL (PVA) MARKET is expected to garner a valuation of USD 1,769.2 MN by the end of 2023 from the current 1300 MN. In its recently published analysis, MRFR also asserts that the market would register a CAGR of over 4.59% over the assessment period (2022–2030).
The attractive user profile of PVA makes it the material of choice in medical applications such as cartilage replacements, contact lenses, and as a suspending medium in eye drops. PVA can be modified by chemical treatment to produce a wide spectrum of materials ranging which makes it a common stock material for the chemical industry. PVA is used in the formulation of drugs and is resistant to most solvents. PVA is used widely in the packaging industry. Additional factors fostering market demand include the dramatically rising end-use industries such as packaging, pharmaceuticals, and food and nutraceuticals.
Polyvinyl Alcohol (PVA) Market — Segments
The report is segmented into three dynamics to widen the scope of understanding,
By Grade: Partially Hydrolysed and Fully Hydrolysed.
By End-use: Packaging, Paper, Construction, Electronics, Textile, Medical, among others.
By Regions: North America, Europe, Asia Pacific, and the Rest of the World.
Polyvinyl Alcohol (PVA) Market — Regional Analysis
North America dominates the global polyvinyl alcohol (PVA) market with the largest market share owing to a large number of end-user industries such as packaging, pharmaceuticals, chemicals, and others. The region is further projected to grow at an impressive CAGR during the forecast period owing to growing demand. Factors such as high adoption and application expanse across end-users especially in the pharmaceutical and chemical sectors is driving the growth of the regional market. The rapidly growing pharmaceutical packaging and medical devices industry is expected to provide additional impetus to the North American polyvinyl alcohol (PVA) market. The well-established healthcare sector is another driver to the growth of the market.
The polyvinyl alcohol (PVA) market in Europe is expected to be dominated by the countries of Germany, France, and the U.K. owing to their large population and proliferating healthcare and pharmaceutical industry. The presence of large medical industry especially in Germany is another driver of the market.
The Asia Pacific polyvinyl alcohol (PVA) market is expected to dominate the future owing to the explosive growth of China, India, and other nations. Growing manufacturing activities and expanding buyer base owing to huge population and growing purchasing power is driving the growth of the regional market.
Polyvinyl Alcohol (PVA) Market — Competitive Landscape
The polyvinyl alcohol (PVA) market is fragmented and highly competitive due to the presence of several big and small players. There is a noticeable shift in the manufacturing location to the developing regions owing to attractive labor economics. The market resembles a bulk commodity characteristic, with large orders and low unit costs, which is exerting pricing pressure on the manufacturers.
Manufacturers of polyvinyl alcohol (PVA) use a variety of distributions and appropriate modifications to ensure diverse product lines and consistent orders. The low shipping rates are other incentives to manufacturers to out source manufacturing to low cost regions.
Players leading the global polyvinyl alcohol (PVA) market include Anhui Wanwei Group., The Nippon Synthetic Chemical Industry Co., Ltd., China Petroleum Chemical Corporation, Merck KGaA, Sekisui Chemical Co., Ltd., OCI COMPANY Ltd., KURARAY CO., LTD., Chang Chun Group., Japan Vam Poval Co.,Ltd., among others.
Industry/ Innovation/ Related News:
October 26, 2018 — —
KURARAY POVAL, the world’s largest polyvinyl alcohol manufacturer is extending its reach to new markets by the launch of products such as MOWIFLEX and customer-specific solutions. KURARAY POVAL has added capacity by acquiring regional companies in the U.S. which will serve the expanding customer base. KURARAY POVAL has taken a customer-centric strategy by providing customized products so as to strengthen its position and develop a close relationship by integrating customers in its manufacturing process. The company is tapping the high premium and demand for products tailored to specific applications and is developing products with individual properties, exemplified by MOWIFLEX 3D 2000 which is engineered for 3D printing.
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