Polyvinyl Alcohol Market Growth Trends, Cost Structure, Driving Factors and Future Prospects 2023

12/set/2018 13:30:46 Market Research Future Contatta l'autore

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Polyvinyl Alcohol (PVA) is produced by polymerization of vinyl acetate monomer followed by hydrolysis. PVA finds application in various end-use industries such as food packaging, paper, textile, construction, coatings, and pharmaceutical. Polyvinyl Alcohol exhibits resistance to moisture and therefore, is predominantly used in the food packaging. Due to high water solubility and biodegradability, PVA has increasingly been used in the packaging industry.

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Polyvinyl Alcohol use is growing in packaged food products due to the benefits associated with it such as film forming and retention of taste & texture of the product. It is also used in the nutritional supplement pills, tablets and capsules owing to its viscosity. Growing apparel and textile industry with changing fashion trends are driving the product demand globally. The use of PVA is increasing in the healthcare industry by virtue of its biocompatibility and biodegradability and consequently rising awareness among the consumers about the plastic wastage is also uplifting the PVA market. It finds extensive usage in the paper industry owing to excellent oil & grease resistant properties. The product usage is increasing in the paper industry due to its suitability for water-based barrier coatings. A few PVA products such as Kururay’s Poval, Elvanol and Exceval are widely used in the paper industry as a result of strong water born film forming.

Product innovation for a new application is a noted trend for the Polyvinyl Alcohol Market. For instance, in 2016, the Kururay opened a new plant in the U.S. which is believed to be cost competitive with the use of shale gas and other inexpensive raw material. a In 2018, the same company is set to launch a new product under the brand name MOWIFLEX to be used by filament fabrication-based printing processes due to excellent water solubility and moisture resistance. However, key players in the market are increasing the prices of their PVA products as a result of a hike in the cost of raw materials, which may affect the market growth to some extent.

Key Players

Some of the key players in the Global Polyvinyl Alcohol Market are Sekisui Chemical Co, Ltd (Japan), The Nippon Synthetic Chemical Industry Co., Ltd (Japan), Merck KGaA (Germany), Anhui Wanwei Group (China), SNP, Inc. (U.S.), Kuraray Co., Ltd (Japan), Polysciences, Inc (U.S.), Polychem (Mumbai), Astrra Chemicals (India), Japan Vam and Poval Co., Ltd (Japan).

Regional Analysis

Asia Pacific is the fastest growing market for Polyvinyl Alcohol as a result of rapidly growing demand from packaging industry especially pertaining to convenience food, from the working class in the developing economies such as India, China, Thailand, and South Korea. The product demand for packaged food products is growing due to convenience and longer shelf life of the products. Growing healthcare industry is also propelling the market growth with respect to rising disease burden among the consumers.

North America is set to witness significant growth over the forecast period with respect to the growing demand for packaged products. Growing construction industry coupled with technological advancements such as the internet of things (IoT) for tracking operational activities is likely to drive the market growth.

Europe is another prominent market for PVA due to increasing use of biodegradable plastic by the packaging industry owing to the ban imposed by the European Union on landfill as of 2016. Growing apparel industry together with rising purchasing power and changing trends are stimulating the product demand especially in the U.K and Germany in this region.

Latin America and the Middle East & Africa are expected to drive the market with growing product demand from packaging industry as a result of rising environmental concern and increasing urbanization.

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