Polyvinyl Alcohol Market

Polyvinyl Alcohol Market Size (2023-2028):

polyvinyl alcohol market was predicted at USD 714.9 million in 2022 and is expected to register a CAGR of 6.4% between 2023-2028

Polyvinyl alcohol (PVA) is a biodegradable polymer with different properties depending on the degree of polymerization and hydrolysis. Another crucial application of the product includes its conversion to polyvinyl butyral, which is employed in other architectural and automotive applications. The growing need for biobased PVA products is predicted to be a key factor in the worldwide polyvinyl alcohol market during the foreseen period.

Polyvinyl AlcoholMarket Trends:

The packaging of sustainable products is in a great call, due to the strict regulations for its disposal and the decrease in the availability of landfills. The call for packaging in various applications is driven by several factors such as expanding consumer base, escalating cost per container, and sustainability in major markets such as the United States, China, and the United States, India.

Polyvinyl Alcohol Market Drivers:

The acceleration of the market for polyvinyl alcohol (PVA) films, and the consumption of polyvinyl alcohol films as a solution are some of the vital circumstances that are predicted to drive the need of soluble PVA in the market. Some of the other factors driving the global polyvinyl alcohol market expansion is the rising call for polyvinyl alcohol (PVA) films as a solvent by the end user for flexible and inflexible packaging. Biodegradability is the single most important parameter that has driven the call for polyvinyl alcohol (PVA) around the world. Due to this factor, the product is the most preferred for biodegradable packaging and green building products. Escalating consumer awareness and preference for healthy food packaging has greatly boosted the polyvinyl alcohol market in many parts of the world. PVA can biologically degrade in the microbial environment and has high resistance to moisture, which affects the call for environmentally friendly enhanced PVA. The growing need for biobased PVA products is predicted to be a major factor that can drive the structure of the worldwide polyvinyl alcohol market during the outlook period. Among all, the food packaging industry and the construction industry are predicted to make the biggest contribution to escalating the share in the polyvinyl alcohol market during the forecast period.

Polyvinyl Alcohol Market Restraints:

Advancement in the number of prescriptions to restrict the film's LDPE content is also predicted to hamper the polyvinyl alcohol market during the foreseen period. The production of solid waste from PVA products can adversely affect human health, which is likely to hamper the expansion of the polyvinyl alcohol market during the outlook period.

Opportunities in the Polyvinyl Alcohol Market:

Advances in analytical projects aimed at inflating the LDPE content of propellant using polyester should soon create profitable opportunities for contractors. The market is driven by rising disposable income, rapid urbanization, and improved living standards. All these factors contribute to escalating the accessibility of products and the consumer's propensity to invest in those products. The market for polyvinyl alcohol films is supposed to grow rapidly during the foreseen period due to the escalating call for convenient and biodegradable packaging. Due to the growing concern for biodegradable and environmentally friendly products, manufacturers are developing convenient and disposable packaging, incorporating characteristics such as static electricity, low oxygen permeability, good optical transmission and coating. As manufacturers adopt biodegradable packaging products, the polyvinyl alcohol market is estimated to prosper during the foreseen period.

Challenges in the Polyvinyl Alcohol Market:

The application of the AVA has been restricted by various regulatory bodies that are expected to pose a significant challenge in the polyvinyl alcohol industry during the foreseen period.

POLYVINYL ALCOHOL MARKET REPORT COVERAGE:

Polyvinyl AlcoholMarket Segmentation:

By Grade:

• Partially Hydrolysed

• Fully Hydrolysed

By End User:

• Packaging

• Electronics

• Medical

• Paper

• Construction

• Textile

Food packaging has become the leading end-use segment, accounting for 31.8% of worldwide volume in 2021. Water-resistant, food-grade polyvinyl alcohol thin films are being developed that prevent moisture build-up. Advantageous properties such as good crosslink density and good moisture resistance should promote the expansion of the fuel segment.

Polyvinyl Alcohol Market Regional Analysis:

The Polyvinyl Alcohol Market Report includes the segmentation of Regions:

• North America 
• Europe 
• Asia Pacific
• Latin America 
• Middle East & Africa 

Asia-Pacific led the Polyvinyl alcohol market on the basis of volume in 2021 and this trend is expected to continue throughout the conjecture period. It is also believed to become the fastest-growing regional market. A growing call for products from various end-use sectors, primarily paper, is predicted to drive market expansion through 2026. North America has followed Asia Pacific in terms of volume and region and is predicted to record a CAGR of 5.1% during the foreseen period. Escalating solid waste volumes in this region are predicted to fuel call for polyvinyl alcohol in packaging applications. Additionally, increased packaging innovation and growing consumer call for properties such as safety, convenience, technology and sustainability are anticipated to drive the call for products during the evaluated period. Asia-Pacific is the largest market for polyvinyl alcohol (PVA), with China being the largest producing country in the world. The country is determined to see decent PVA expansion over the next five years due to the constantly growing fiber market, but expansion will be slower compared to the last five years.

The United States is another mature market for polyvinyl alcohol due to the large production of polyvinyl butyral (PVB) resin, which is made from PVA. Western Europe also includes a large market for PVA, mainly due to the escalated call for PVB resin. Some of the new applications for PVA in this region include biodegradable thermoplastic polymers and ceramic binders, where traditional applications are predicted to pick up and grow. APAC will dominate the world market due to the rapid industrialization and expansion of the construction industry during the foreseen period. In addition to the construction sector, food and beverage products and the cosmetic industry are likely to drive the development of the regional market. Extensive application of biodegradable PVA products is supposed to be another important cause that may increase the regional market in the next period. Escalating innovation in the packaging industry is projected to increase call for the product, which will benefit the industry during the evaluation period. Among all APAC countries, China is predicted to make the most significant contribution to strengthening the regional market.

Impact of COVID-19 on the Polyvinyl Alcohol Market:

With growing concern about the spread in the community where infection rates are particularly high, coupled with the rise in Coronavirus variants that spread more easily, more and more people are wondering if even weekly grocery store errands of groceries are too risky. Most stores have been successful with home delivery or one-click shopping, although they have sometimes struggled with logistics and have sufficient capacity to meet consumer call. This market of potential customers is important. The coronavirus pandemic continues to change the way we get our food. More and more consumers want to buy contactless. Many also want fresh, customizable offers that contain high-quality ingredients, but with a contactless checkout experience.

Polyvinyl Alcohol Market Key Players:

The major players covered in the polyvinyl alcohol market report are

• Aicello Corporation
• AMC Network Entertainment LLC.
• Arrow GreenTech Ltd.
• Cortec Corporation
• Biodegradable Product Institute
• Kuraray Co. Ltd.
• Sekisui Specialty Chemicals America
• Shanghai Yuking Water Soluble Material Tech Co. Ltd.
• Anhui Wanwei Group Co.,Ltd
• BASF SE
• Carst& Walker
• Polychem
• Polysciences, Inc.
• Spectrum Chemical Manufacturing Corp.
• Ecomavi