Polyvinyl Alcohol Demand is Increasing at 6.5% CAGR by 2033; Owing to Rising Need in the Packaging of Pesticides: Fact.MR Analysis
FACT.MR
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FACT.MR
Polyvinyl Alcohol Widely Used in Food Packaging Industry Due to its Effective Protection Qualities. Use of Polyvinyl Alcohol Increasing Rapidly Due to Negative Environmental Effects of Plastics.
Rockville, April 05, 2023 (GLOBE NEWSWIRE) -- As per the latest estimates by Fact.MR, a market research and competitive intelligence provider, the global polyvinyl alcohol market is predicted to expand at a CAGR of 6.5% and reach a market size of US$ 1.9 billion by the end of 2033.
Polyvinyl alcohol (PVA) is a type of colourless, hydrophilic, water-soluble synthetic polymer that is effective at adhering to and producing films. It is created by polymerizing vinyl acetate monomer and then hydrolyzing it. Paper, food packaging, textiles, and other end-use sectors, among others, employ polyvinyl alcohol in some capacity.
The industry that uses PVA most often is packaging, generating a sizable amount of revenue for market players. Growing demand for environmentally acceptable packaging materials is driving the adoption of PVA-based films and coatings, which provide strong barrier properties against moisture and oxygen.
North America, Europe, APAC, South America, and Middle East and Africa
Key countries
US, Canada, UK, France, and Germany
Competitive landscape
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled
BASF SE, Dow Chemical Company, Mitsubishi Chemical Corporation, LyondellBasell Industries Holdings B.V., Merck KGaA, Nouryon Chemicals Holding B.V., Kuraray Europe GmbH, Shin-Etsu Chemical Co., Ltd., Wacker Chemie AG, Sekisui Specialty Chemicals America, LLC, Hanwha Solutions Chemical Division Corporation, Liwei Chemical Co. Ltd, SNP, Inc.
Market dynamics
Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period.
Customization purview
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
PVA-based packaging films are also used to create water-soluble bags and pouches, which are used in several industries such as agrochemicals, detergents, and food packaging.
PVA is a common sizing agent added to warp yarns in the textile industry, where it is used to make cotton and synthetic fabrics. PVA-based sizing agents improve weaving efficiency and reduce yarn breakage during manufacturing due to their exceptional film-forming, adhesive, and lubricating properties. Due to its excellent surface smoothness, printability, and water resistance, PVA is also commonly utilised in the paper industry as a binder and coating agent.
PVA-based coatings also enhance paper's optical characteristics, such as whiteness and brightness, which enhances the print quality and legibility. Because of their excellent bonding strength, rapid setting time, and low toxicity, PVA-based adhesives are suitable for use in a range of industries.
Key Takeaways from Market Study
The global polyvinyl alcohol market is valued at US$ 1.06 billion in 2023.
Asia Pacific is emerging as a profitable marketplace for polyvinyl alcohol suppliers due to the presence of a well-established textile industry.
Significant food packaging technologies in the United States are boosting the demand for polyvinyl alcohol solutions.
France, being a major agricultural country in Europe, is increasing the use of PVA in the packaging of fertilisers.
Partly hydrolyzed polyvinyl alcohol solutions are exhibiting high demand from the construction sector due to their strong bonding capabilities.
“Increasing awareness of the negative effects of plastic on the environment isthe main factor driving the use of bio-based polyvinyl alcohol (PVA) products,” says a Fact.MR analyst.
Multinational chemical manufacturer BASF SE, located in Germany, invested in the expansion of the polymer dispersions production plant in Merak, Indonesia, in January 2023. The development is expected to aid in addressing the increasing demand for luxury packaging in the ASEAN region, which is home to significant paper and board producers. Additionally, this growth enhances BASF's standing as a premier and trusted provider in this region.
Two new polyvinyl alcohol categories from Kuraray were introduced in Europe in June 2020: Kuraray PovalTM 3-88, a low-viscosity coating material and Kuraray PovalTM 6-96, a water-resistant material ideal for food packaging.
Competitive Landscape There is fierce competition in the market with the existence of both large- and medium-sized polyvinyl alcohol manufacturers. The availability of raw materials at relatively low costs and the proximity of the plants to the raw material suppliers enable producers to benefit from economies of scale.
Sekisui Specialty Chemicals (SSC) started the feasibility analysis for increasing its polyvinyl alcohol supply chain network in August 2022 to accommodate the escalating demands of its downstream clients.
Purchasing the Modular Automated Sampling Technology (MAST) platform from Lonza in April 2022 allowed Merck, a significant scientific and technology company, to increase the scope of its bioprocessing offerings. An automatic, aseptic bioreactor sampling system called the MAST platform was developed in Bend, Oregon, in the United States.
Key Segments of Polyvinyl Alcohol Industry Research
Fact.MR, in its new offering, presents an unbiased analysis of the global polyvinyl alcohol market, presenting historical demand data (2018 to 2022) and forecast statistics for the period (2023 to 2033).
The study divulges essential insights on the market based on grade (fully hydrolyzed, partially hydrolyzed, sub-partially hydrolyzed, low foaming grades) and end user (food packaging, paper manufacturing, construction, electronics, textile manufacturing, medical, aerospace, automotive), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
Key Questions Covered in the Polyvinyl Alcohol Market Report
What will be the estimated size of the Market in 2023?
At what rate will the global Polyvinyl Alcohol sales grow until 2033?
Which are the factors hampering the Polyvinyl Alcohol demand?
Which region will spearhead the growth in the global industry by 2033?
Which are the factors driving sales in the Polyvinyl Alcohol Market during the forecast period?
Check out more related studies published by Fact.MR Research: Polyvinylpyrrolidones (PVP) Market Sales: The global polyvinylpyrrolidone (PVP) market sales was valued at US$ 2.5 billion in 2022 and is forecasted to expand at a CAGR of 6.6% and reach US$ 4.8 billion by the end of 2033.
Polyvinyl Alcohol Resins Market Growth: Growing end-use industries worldwide is providing traction to the polyvinyl alcohol resins market growth over the forecast period. The growing application of polyvinyl alcohol resins in the textile and adhesive industry is expected to boost the demand for polyvinyl alcohol resins across the globe.
Polyvinyl Butyral Market Share: The Polyvinyl butyral market share is primarily driven by the automotive industry, which has a substantial impact on the Asia Pacific and Europe region over the forecast period.
Alcohol Ethoxylates Market Size: The global alcohol ethoxylates market was valued at US$ 6.6 Billion in 2022, and is projected to be valued at US$ 9.3 Billion by 2032. During the 2022-2032 period of assessment, demand is expected to rise at a 3.6% value CAGR, likely to reach US$ 9.3 Billion by the end of the said forecast period.
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