Polyvinyl alcohol (PVA) is a polymer that is effective in film-forming and emulsification. It also goes by the abbreviations of PVA, PVAL, and PVOH. It has gained traction across industries due to being odorless and non-toxic while being resistant to solvents, oils, and lubricants. The global polyvinyl alcohol market report by Market Research Future (MRFR) contains drivers, restraints, opportunities, and trends for the period from 20 to 2023 (forecast period). It covers revenue and volume assessment of the market during the forecast period.
The Polyvinyl Alcohol Market valuation can touch USD 1,769.2 million by 2023. It can expand at a 4.59% CAGR from 2020 to 2027. It was valued at over USD 1700 million in 2017. The various grades of polyvinyl alcohol and their application in pharmaceutical, textile , coatings, construction, paper, and food packaging industries is expected to drive market growth over the forecast period. Its resistance to moisture, biodegradability and high water solubility makes it suitable for the applications of these industries.
Consumer demand for substances with minimal carbon footprint and environmentally friendly chemicals are likely to induce the demand for PVA. This is evident by the move by the food beverage industry to sustainable packaging to adhere to latest environmental regulations. PVA is being used due to its oxygen barrier and biodegradability properties. Emulsions are being used in paints and coatings to enhance their properties. PVOH when added to vinyl acetate provides good heat resistance, wet tack, and adhesion to substrates.
But the fluctuating prices of PVOH can hamper the polyvinyl alcohol market growth.
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The global polyvinyl alcohol market is segmented by grade and end-use industry.
By end-use industry, it is segmented into electronics, construction, packaging, medical, paper, and textile. Packaging accounted for 38.2% share of the global polyvinyl alcohol market in 2017. The need for biodegradable packaging is likely to drive the demand for PVOH in the coming years. On the other hand, the textile industry can exhibit a CAGR of 4.59% during the forecast period due to colorfastness and warp sizing. High demand for textiles and apparel is likely to be favorable for the global PVOH market.
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North America, Latin America, Europe, the Middle East Africa (MEA), and Asia Pacific (APAC) are regions covered in the global polyvinyl alcohol market.
APAC accounted for the largest market share due to a thriving textile industry and application in other end-user industries. The use of PVA in the construction industry as an adhesive and emulsifying agent is expected to bode well for the global market growth. Japan is supposed to contribute greatly to the market throughout the assessment period. The region can touch a value of USD 791.3 million by 2023.
Europe assumed the position of the second largest in the global polyvinyl alcohol market due to rising demand for sustainable packaging and the presence of various key leaders. It can touch a valuation of USD 394.6 million by 2023.
Sekisui Chemical Co., Ltd., China Petroleum Chemical Corporation, Japan Vam Poval Co., Ltd., Merck KGaA, KURARAY CO., LTD., Chang Chun Group, Anhui Wanwei Group, The Nippon Synthetic Chemical Industry Co., Ltd., and OCI COMPANY Ltd. are notable players of the global polyvinyl alcohol market.
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