Polyvinyl Alcohol Market is Expected to Reach USD 1.938 Billion By 2030, with a CAGR of 4.76% – Report by Market Research Future (MRFR)
Market Research Future
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Market Research Future
Polyvinyl Alcohol Market Research Report Information by Type (Fully Hydrolyzed, Partially Hydrolyzed), By End-Use Industry (Packaging, Textile, Paper, Construction, Electronics, Medical, Others), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) – Market Forecast Till 2030
New York (US), May 01, 2023 (GLOBE NEWSWIRE) -- Polyvinyl Alcohol Market Overview
The MRFR study reports imply that the “Polyvinyl Alcohol MarketResearch Report Information by End-Use Industry, Type, and Region- Forecast Till 2030”, the global Polyvinyl alcohol market is predicted to bolter substantially during the review era from 2022 to 2030 at a substantial growth rate of around 4.76%. The reports further predict the market will acquire nearly USD 1.938 billion by the end of 2030. As per the documents, the Polyvinyl alcohol market was valued at nearly USD 1.4 billion in 2022.
Market Scope
The global Polyvinyl alcohol industry has lately demonstrated immense development. The primary parameter causing a surge in the performance of the market is the escalating consumer demand for food and eco-friendly packaging across the globe.
The global Polyvinyl alcohol industry has lately demonstrated immense development. The primary parameter causing a surge in the performance of the market is the escalating consumer demand for food and eco-friendly packaging across the globe. Furthermore, the expanding working population and the changing lifestyles are also projected to positively influence the performance of the market over the review era. Moreover, the aspects such as rising purchasing power in emerging nations, an increased focus on sustainability, trends in out-of-home consumption, changing demographics, user-friendly packaging, and new consumer expectations are also likely to catalyze the market growth over the review era.
Market Restraints
On the contrary, some parameters may restrict the market's development. The main parameter limiting the market's development is the high costs associated.
The COVID-19 pandemic has had a massive impact on several industry areas worldwide. The Polyvinyl alcohol market is no different than others. The market experienced a tremendous setback during the pandemic, given the halt of several industrial operations and manufacturing activities. However, with the world recovering from the impact caused by the global health hazard, the market is anticipated to grow considerably over the coming years.
Segment Analysis
Among all the grades, the hydrolyzed segment secured the top position across the global market for polyvinyl alcohol in the year 2022. Polyvinyl alcohol that has witnessed partial hydrolysis is commonly deployed in several processes, including films, soil stabilization, warp-sizing for spun & filament yarn, remoistening adhesives, and pressure-sensitive adhesives. The segment's growth is ascribed to the significant demand for the category in the construction and food packaging industries.
Among all the end-user industries, the packaging category secured the top spot across the global market for polyvinyl alcohol in the year 2022, with the largest contribution of approximately 31.4%. The main aspect causing a rise in the segment's growth is the rising need for biocompatible and nontoxic packaging solutions in the food and beverage industry. Food-grade polyvinyl alcohol thin and water-resistant films are produced to stop moisture buildup. Advantages such as a high crosslinking density and moisture resistance are projected to enhance the segment's performance over the coming years.
The global market for Polyvinyl alcohol is studied across five major parts: Asia-Pacific, Europe, North America, Latin America, and Middle & Africa.
The research reports by MRFR suggest that the Asia-Pacific region held the top position across the global Polyvinyl alcohol industry in 2022, with the largest contribution of around USD 0.64 billion. The regional market is anticipated to grow substantially over the assessment era. The main parameter supporting the development of the regional market is the rising product demand from various end-use industries, particularly paper. Furthermore, the existence of the textile industries in India and China is also considered to be one of the crucial parameters enhancing the performance of the regional market. Moreover, the expanding exports of goods connected to the textile sector will also likely catalyze the regional market's growth over the review era. We secure the top spot across the regional market, and Canada is anticipated to demonstrate the highest growth rate over the coming years.
The European regional market for polyvinyl alcohol is anticipated to ensure the second position globally. The main parameter supporting the development of the regional market is the escalating demand for PVA as a polymerization aid, and PVA products made using biomaterials.
The Middle East and African regional market for polyvinyl alcohol are predicted to grow substantially over the coming years. The main parameter supporting the growth of the regional market is the growth of the packaging business across the region.
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