Polyvinyl Alcohol (PVA) Market is projected to grow at a CAGR of 3.89%

polyvinyl alcohol (PVA) market

The polyvinyl alcohol (PVA) market is expected to grow at a CAGR of 3.89% during the forecast period.

The polyvinyl alcohol (PVA) market is driven by the rising demand for sustainable materials from diverse end-user industries, increasing technological innovations, and changing consumer preferences.

As per the report, the polyvinyl alcohol (PVA) market is expected to grow significantly.

PVA are water-soluble synthetic polymer materials with their properties like film-forming, adhesive, emulsifying, and adhesive properties. They are extensively utilized in a variety of applications in various end-user industries such as agriculture, medicine, consumer goods, and electronics because of their unique characteristics like non-toxic, water-soluble, odorless, biodegradability, and transparency properties. They present strong mechanical strength and environmental benefits making them flexible and durable in employment by multiple industries.

The market is encountering development due to various components, such as an increment in the requirement for biodegradable and water-soluble packaging materials driven by environmental concerns and government support. Moreover, PVA is utilized in water-soluble packaging for pharmaceuticals medicine, and supplements, and medical industries for wound dressings and biodegradable medical gadgets while in agriculture industries for controlled-release fertilizers and seed coatings, advancing effective and maintainable cultivating hones. Further, PVA is being researched for eatable packaging solutions, which can decrease waste produced through packaging within the food industry. Innovative progressions in production and handling have driven superior item quality, expanded productivity, and decreased costs. In addition, the growing inclination of consumers to favor convenience-oriented items, such as water-soluble pods and pouches, will contribute to the expansion of the market during the forecasted period. For example, in February 2023, Mitsubishi Chemical Group planned to set up a new facility at the Okayama Plant to extend production capacity for forte brands of polyvinyl alcohol resin, GOHSENX, and Nichigo G-Polymer, set to start operations in October 2024. Additionally, in February 2022, Bioplastics International developed water-soluble PVA products as a sustainable option in place of plastics intending to decrease ocean and beach pollution.

Based on the grade, the polyvinyl alcohol (PVA) market is categorized into fully hydrolyzed, partially hydrolyzed, sub-partially hydrolyzed, low foaming grades, and other grades (testified grades and fine particle grades). the market is predicted to be majorly influenced by partially hydrolyzed and fully hydrolyzed grades. Partially hydrolyzed grades are utilized majorly in the textile industry for packaging, adhesive, and coating purposes led by the rise in demand for environmentally friendly materials while fully hydrolyzed grades are widely employed in industries like paper, construction, and packaging industries due to increased sustainable material demand, which will fuel the expansion of the market.

The polyvinyl alcohol (PVC) market based on the end-user industry is divided into food packaging, paper manufacturing, construction, electronics, textile manufacturing, and other end-user industries. The two industries food packaging and construction industries are anticipated to significantly contribute to the expansion of the PVC market. PVC is opted for its rigid and ease of maintenance making them a better alternative in infrastructure development like the production of pipes, windows, and flooring while its durability and flexible packaging make it a protective food packaging option.

The polyvinyl alcohol (PVA) market has developed substantially in the Asia Pacific region due to various factors. The region is expected to grow due to the increasing consumer goods industry and rapid industrialization leading to the rise in demand for PVA materials because of their versatile and biodegradable properties. The Asian country’s governments are implementing environmental regulation as well as supportive initiatives that also contribute to the advancement of sustainable materials such as PVA. Moreover, the advancement in innovation by manufacturing companies of PVA to widen its application to diverse industries will also contribute to an increase in the region’s market in the coming years.

The polyvinyl alcohol (PVA) market is supported by key players such as Anhui Wanwei Group, Astrra Chemicals, Chang Chun Group, Japan Vam & Poval Co. Ltd, Kemipex, Kuraray Europe GmbH, Merck KGaA, Mitsubishi Chemical Corporation, Polysciences Inc., Sekisui Chemical Co. Ltd, and SNP Inc.

View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/polyvinyl-alcohol-pva-market

This analytics report segments the polyvinyl alcohol (PVA) market on the following basis:

  • By Grade
    • Fully Hydrolyzed
    • Partially Hydrolyzed
    • Sub-partially Hydrolyzed
    • Low Foaming Grades
    • Other Grades (Tactified Grades and Fine Particle Grades)
  • By End-User Industry
    • Food Packaging
    • Paper Manufacturing
    • Construction
    • Electronics
    • Textile Manufacturing
    • Other End User Industries
  • By Geography
    • North America
      • USA
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Others
    • Europe
      • United Kingdom
      • Germany
      • France
      • Italy
      • Spain
      • Rest of Europe
    • Middle East and Africa
      • Saudi Arabia
      • Saudi Arabia
      • United Arab Emirates
      • Rest of Middle East and Africa
    • Asia-Pacific
      • China
      • India
      • Japan
      • South Korea
      • Taiwan
      • Thailand
      • Indonesia
      • Rest of Asia-Pacific