The Asia Pacific Polyvinyl Alcohol (PVA) Market would witness market growth of 6.9% CAGR during the forecast period (2023-2030). In the year 2021, the Asia Pacific market's volume surged to 1,97,182.9 Metric Ton, showcasing a growth of 6.2% (2019-2022).
As customers seek new and inventive products for their beauty and grooming routines, the cosmetics and personal care business is expected to continue growing. Due to its distinctive qualities and adaptability in various product applications, PVOH/PVA (polyvinyl alcohol) is in high demand in cosmetics and personal care. In several cosmetic and personal care goods, including face masks, hair styling products, eye makeup, skincare items, and nail polish, PVOH is employed as a film-forming, thickening, and binder agent.
Furthermore, in the upcoming years, the market is projected to benefit from the expanding opportunity in the electronics industry for manufacturing devices like transistors, which require high dielectric permittivity. Additionally, the market is severely constrained by the rising cost of manufacture and the accessibility of substitutes. Two of the raw materials required to make polyvinyl alcohol (PVA) are vinyl acetate monomer (VAM) and polyvinyl acetate (PVAc), both of which go through several operational stages of production, processing, refinement, and storage. These procedures increase the capital needed for the production process and could increase production costs.
Moreover, with its booming textile and construction industries, China generates a higher demand for polyvinyl alcohol. China is the leader in the world for producing textiles. Due to its massive production capacity, domestic overstock, high labor costs, and escalating protectionism, China's textile sector is undergoing a complex transformation that erodes its competitiveness. The nation will likely continue leading in the textile manufacturing and export industries in the following years. Due to the expanding middle class, growing awareness of health and well-being, and increasing consumer spending power, the Chinese food packaging business is predicted to increase significantly. Therefore, these factors will help expand the market in the region.
The China market dominated the Asia Pacific Polyvinyl Alcohol (PVA) Market, By Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $240.1 million by 2030. The India market is experiencing a CAGR of 7.4% during (2023 - 2030). Additionally, The Japan market would exhibit a CAGR of 6% during (2023 - 2030).
Based on End-use, the market is segmented into Food Packaging, Paper, Construction, Electronics, and Others. Based on countries, the market is segmented into China, India, Japan, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Global Polyvinyl Alcohol (PVA) Market is Predict to reach $1.7 Billion by 2030, at a CAGR of 6.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include DuPont de Nemours, Inc., Mitsubishi Chemical Holdings Corporation, Eastman Chemical Company, Sekisui Chemical Co. Ltd., Kuraray Co. Ltd., Denka Company Limited, Anhui Wanwei Group Co., Ltd., Celanese Corporation, Merck KGaA, AND Wacker Chemie AG.
By End-use (Volume, Metric Ton, USD Million, 2019-2030)
By Country (Volume, Metric Ton, USD Million, 2019-2030)
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