08-Sep-2021 | Facts and Factors
According to a survey released by Facts and Factors, the global polyvinyl alcohol market was valued at USD 905.5 Million in 2020 and is predicted to reach USD 1291.7 Million by the end of 2026, rising at a CAGR of nearly 6.10% between 2021 and 2026.
Polyvinyl alcohol, a synthetic water-soluble polymer, has long been used as a major component in formulation processes in a variety of end-use sectors, including food packaging, construction, electronics, coatings, printing, textile, cosmetics, and paper. Because it is a polymer with good water solubility and biodegradability, it is mostly used in the food packaging sector. Polyvinyl alcohol is widely utilized in the construction sector for a variety of reasons, including improved water solubility and particle size, adsorption strength, cement porous solution viscosity, and static cement slurry filtering.
In recent years, the development of new biodegradable packaging materials has gotten a lot of attention. Polyvinyl alcohol-based end-use products have been evaluated for their biodegradation capability using renewable natural polymers. Polyvinyl alcohol material is widely utilized among biodegradable synthetic polymers because of its biodegradability in a variety of microbiological conditions. Polyvinyl alcohol is used in a variety of industries, including ceramics, textiles, coatings, paper, and wood. Moreover, identical grades of the product can be utilized for a variety of applications. This capacity has aided in increasing demand for Polyvinyl Alcohol in recent years. Because of its characteristics, such as ethanol, water solubility, and grease, and oil resistance, there are several lesser-known product alternatives available. Polyvinyl alcohol's inherent nature allows it to be used in applications that need only environmentally acceptable materials. As movements like "go green" and "reuse" gain traction, this is seen as a big plus for the product. The focus on reducing industrial applications that employ hazardous chemicals is causing a move toward ecologically friendly materials. Polyvinyl alcohol is a significant consumer in the packaging business; the product is used to make practical food packaging goods since it is a great oxygen barrier and biodegradable. Polyvinyl acetate, one of the most important industrial polymers, is made from it. Because of its excellent emulsifying and dispersion capabilities, polyvinyl alcohol makes up the bulk of vinyl-acetate. An emulsion with vinyl-acetate as a base increases the end product's characteristics dramatically It is also used in textile, paint, and coating products, building materials, and as a dispersible polymer powder.
Top Market Players
Major players operative in the global polyvinyl alcohol market is Anhui Wanwei Group, Astrra Chemicals, Chang Chun Group, China Petroleum & Chemical Corporation, Japan Vam&Poval Co. Ltd., Kemipex, KURARAY CO. LTD., Nippon Synthetic Chemical Industry Co. Ltd., Merck KGaA, OCI Company Ltd., Polysciences Inc., SNP, Inc., Sekisui Chemical Co. Ltd., Solutia Inc. (Eastman Chemical Company), and amongst others. Collaborations and partnerships have become more essential in expanding companies and expanding corporate offerings in the polyvinyl alcohol sector. In order to increase its geographical location and optimize the sales of the firm, many companies operating in the sector work together with others.
The growing demand for bio-based polyvinyl alcohol products is likely to be a major driver driving the worldwide polyvinyl alcohol market structure within the projected period. Polyvinyl alcohol is widely used in a variety of end-user industries, including electronics, coatings, textiles, cosmetics, and others. The food packaging industry and the construction sector are expected to have the most impact on increasing polyvinyl alcohol market share in the upcoming years. Furthermore, due to the strict laws being implemented in many countries, sustainable product packaging is gaining traction, with the potential to expand the market considerably throughout the assessment period. The growing electronic industry, particularly in emerging nations, is projected to provide profitable possibilities for polyvinyl alcohol market producers who may expand the market over the assessment period. Polyvinyl alcohol market growth is expected to be hindered by solid waste creation from polyvinyl alcohol products, which is expected to have a negative influence on human health. Several regulatory authorities have limited the use of polyvinyl alcohol, which is likely to be a major issue for the polyvinyl alcohol business throughout the projection period.
The Asia Pacific region is projected to dominate global polyvinyl alcohol market growth
Asia-Pacific is likely to continue to be the largest regional market for polyvinyl alcohol in the worldwide market during the projected period. The rising demand from end-use sectors such as automotive, electrical and electronics, chemicals, healthcare, oil & gas, and home care are driving the product market. It is predicted that North American and European markets would develop steadily throughout the projection period after following the market in Asia-Pacific. End-use sectors such as packaging, papermaking & processing, building & construction, electronics, textile, medical, personal care are contributing to product demand in these markets. Europe is expected to be the second most profitable market. During the assessment period, the rising use of polyvinyl alcohol in the electronics industry is projected to be a key driver driving the regional market. Furthermore, rising awareness of the beneficial qualities of polyvinyl alcohol is likely to boost the regional market in the future years. North America is expected to gain a considerable market share due to the rising demand for the product as a polymerization aid over the forecast period. Furthermore, the rising demand for bio-based Polyvinyl Alcohol products is expected to be a major driver in the market's future growth. Furthermore, the favorable characteristics of Polyvinyl Alcohol are expected to boost the regional market throughout the forecast period due to the development in the packaging sector. The Middle East and Africa are projected to have substantial market expansion over the projection period. The Middle East nations' contributions have a significant impact on the area., Middle Eastern nations such as the United Arab Emirates and Kuwait, owning to their economic stability, these countries are expected to play a key role in expanding the regional market.
Browse the full report “Polyvinyl Alcohol Market By Grade Type (Fully Hydrolyzed, Partially Hydrolyzed, Sub-Partially Hydrolyzed, Low Foaming Grades, Others), End-Use Industries (Packaging, Papermaking & Processing, Building & Construction, Electronics, Textile, Medical, Personal Care, Others), By Regional Analysis (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa) Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021 – 2026” at https://www.fnfresearch.com/polyvinyl-alcohol-market
The global polyvinyl alcohol market is segmented as follows:
By Grade Type:
By End-Use Industry:
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