The Global Polyvinyl Alcohol (PVA) Market size is expected to reach $1.7 billion by 2030, rising at a market growth of 6.7% CAGR during the forecast period. In the year 2022, the market attained a volume of 4,14,933.7 Metric Ton, experiencing a growth of 6.1% (2019-2022).
Materials for construction, such as cement modifiers and tile adhesives, use partially hydrolyzed PVOH. It improves water resistance, adhesion, and workability, enhancing performance in general. The fact that PVA has improved water solubility, particle size, adsorption capacity, cement pore solution viscosity, and static filtration of cement slurries also contributes to its widespread application in the construction sector. Therefore, the Construction segment would register approximately 1/5th share of the market by 2030. Some of the factors impacting the market are increasing consumer desire for eco-friendly packaging, rising demand for PVA in various industries, and advancements in technology for end-use industries.
The active food ingredients are protected from moisture, oxygen, and other environmental factors while having their flavor and odor covered by PVA. It simplifies the handling of finished goods and facilitates swallowing and consumption. Additionally, coating agents for tablets, capsules, and other forms that typically receive film coatings at relatively high solids can be applied because of PVA's viscosity. Owing to these factors, there will be increased demand for polyvinyl alcohol. With its water solubility, film-forming abilities, adhesion, and flexibility, PVOH has many benefits for the textile sector. Its numerous uses in textile processing vary from fabric finishing and fiber spinning to yarn sizing, dyeing, and printing. Due to its distinctive qualities, polyvinyl alcohol (PVOH) finds use in the paper industry for various purposes, including paper coatings, surface sizing, fiber reinforcing, paper coatings for packaging, release liners, ornamental laminates, and molding. Because of their outstanding adhesion, transparency, and impact resistance, these films are commonly used in laminated safety glass, such as car windshields and architectural glass. As a result, there is a strong correlation between the demand for PVB films and resins and the need for PVOH resins. Therefore, the demand for polyvinyl alcohol will rise in the future.
However, Bio-based and biodegradable polymers that can replace conventional petroleum-based materials like PVOH have been developed in response to the increased demand for sustainable packaging solutions. For instance, biodegradable polymers used in packaging films, coatings, and adhesives include polylactic acid (PLA) and polyhydroxyalkanoates (PHAs), obtained from renewable resources. PVOH demand may be hampered by the packaging industry's growing use of these eco-friendly materials. These factors will have a negative impact on the worldwide demand for polyvinyl alcohol.
Based on end-use, the market is categorized into paper, food packaging, construction, electronics, and others. In 2022, the food packaging segment witnessed the highest revenue share in the market. The food and beverage sector's growing requirement for biocompatible and nontoxic packaging solutions will fuel industry expansion. Food-grade PVA film that is both thin and water-resistant has been created to stop moisture buildup. They dissolve in water, which lessens waste from packing. PVA disguises the taste and odor of the active food ingredients while shielding them from moisture, oxygen, and other environmental elements. These factors will enhance the demand for polyvinyl alcohol in the segment.
Report Attribute | Details |
---|---|
Market size value in 2022 | USD 987.8 Million |
Market size forecast in 2030 | USD 1.7 Billion |
Base Year | 2022 |
Historical Period | 2019 to 2021 |
Forecast Period | 2023 to 2030 |
Revenue Growth Rate | CAGR of 6.7% from 2023 to 2030 |
Number of Pages | 218 |
Number of Table | 370 |
Quantitative Data | Volume in Metric Ton, Revenue in USD million, and CAGR from 2019 to 2030 |
Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling |
Segments covered | End-use, Region |
Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Australia, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
Growth Drivers |
|
Restraints |
|
Region-wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the Asia Pacific segment recorded the highest revenue share in the market. The packaging industry's growing need for PVA is driving this region's growth. Manufacturing of durable goods and fast-moving consumer goods (FMCG) is concentrated in Asia Pacific. For the production of packaging materials, many businesses buy PVA in large quantities. Asia Pacific already leads the market and is expected to do so for the foreseeable future due to the increasing preference for readymade food products from growing nations like China, India, and Japan.
Free Valuable Insights: Global Polyvinyl Alcohol (PVA) Market size to reach USD 1.7 Billion by 2030
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 Geography (Volume, Metric Ton, USD Million, 2019-2030)
This Market size is expected to reach $1.7 billion by 2030.
Increasing consumer desire for eco-friendly packaging are driving the Market in coming years, however, Advancements in technology for end-use industries restraints the growth of the Market.
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.
In the year 2022, the market attained a volume of 4,14,933.7 Metric Ton, experiencing a growth of 6.1% (2019-2022).
The Asia Pacific region dominated the Market, By Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $897.8 million by 2030.
Our team of dedicated experts can provide you with attractive expansion opportunities for your business.