Polyvinyl Alcohol, aka PVOH, PVAI, or PVA, is a synthetic polymer that is made up of various molecules, all strung together. It is soluble in water and is highly effective in emulsifying, film forming, and has adhesive properties. It has no odor whatsoever, it is biodegradable, and is non-toxic in nature. It is also resistant to oils, solvents, and grease. PVA is ductile yet strong, flexible, and operates as a high oxygen and aroma barrier. It is used as an ophthalmic lubricant and contributes to various pharmaceutical products. It is used in the manufacturing process of artificial sponges, surface coatings, cosmetics, and other products.
According to Market Research Future (MRFR), the Global Polyvinyl Alcohol Market is at present valued at over USD 1,300 million and the projected valuation is expected to reach USD 1,769.2 million by 2023, showcasing an annual growth rate of 4.59%.
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The properties and the benefits of PVA make it a suitable choice across different industries. It finds its application for various end-user industries, which includes paper, construction, food packaging, textile, pharmaceuticals, and coatings. Additionally, polyvinyl alcohol is available in different grades, thereby acting as a major positive as it allows a vast pool of options for end-users to choose from. The physiochemical characteristics of the product are contributing to its heavy usage in manufacturing sustainable packaging. The Global PVA Market is expected to grow during the forecast period due to such aforementioned contributors. However, the unpredictability of the raw material prices might be a huge setback to the market growth of polyvinyl alcohol.
The Global Polyvinyl Alcohol Market is divided into different market Segmentation, namely by Grades and End-User Industries.
By Grades, the market divides into fully hydrolyzed and partially hydrolyzed polyvinyl alcohol. The partially hydrolyzed segment is expected to overpower the other during the entire review period.
By End-Users, the market includes electronics, packaging, medical, paper, construction, textile, and electronics. The packaging segment holds massive potential for the market players.
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The Regional Market Segmentation of Polyvinyl Alcohol comprises all the major regions worldwide – Europe, Latin America, North America, Asia-Pacific, and the Middle East & Africa.
Asia-Pacific is the dominant market share holder of Polyvinyl Alcohol. The factor primarily driving the demand for this market is the expanding end-user industries. The region is also experiencing urbanization, fast-paced industrialization, and constructional activities, thereby attracting a number of market players and producers. This, in turn, is pushing the market growth of the Polyvinyl Alcohol Market herein.
Following Asia-Pacific, Europe stands tall as the second largest market for PVA products. The surging demand for sustainable packaging materials is driving the market in this region. North America is another region which is expected to drive significant revenues during the forecast period. However, both Latin America and the Middle East & Africa market will see slow and steady progress as compared to the other regions.
The Global Polyvinyl Alcohol Market boasts a number of reputed and noteworthy players, including Chang Chun Group, China Petroleum & Chemical Corporation, The Nippon Synthetic Chemical Industry Co., Ltd., Merck KGaA, Japan Vam & Poval Co., Ltd, OCI COMPANY Ltd., KURARAY CO., LTD., and Sekisui Chemical Co., Ltd.
Feb 2019, a Japanese company, named IGE Energy Co Ltd, announced the development of an all-new technology for wastewater treatment for buildings and other industries. The technology is said to be much more effective in protecting the environment.
Aug 2018, researchers from Chile discovered the formula to come up with a new and innovative biodegradable plastic bag named SoluBag. They used Polyvinyl Alcohol to create the water-soluble plastic bag, one which breaks down within minutes and doesn’t cause any harm to the environment.
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