According to the latest report by IMARC Group, titled "Polyvinyl Alcohol (PVA) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026," the global polyvinyl alcohol (PVA) market size reached US$ 905.00 Million in 2020. Polyvinyl alcohol (PVA) is a synthetic polymer that is soluble in water. It is obtained by the partial or complete hydrolysis of polyvinyl acetate. Not characterized by a specific odor, it exhibits excellent resistance to oils, grease and solvents. It is also tasteless, translucent and highly biodegradable in nature, due to which it is utilized in film forming and emulsifying applications. PVA is widely utilized as a moisture barrier in the formulation of numerous pharmaceutical products, including medicines and supplements. It also finds applications in biomedical applications, food packaging, construction activities, printing and the cosmetics industry.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Polyvinyl Alcohol (PVA) Market Trends:
The global market is primarily driven by the increasing demand for efficient food packaging solutions. Supported by the inflating disposable income levels of the masses and their shifting dietary preferences, this has created an escalating requirement for food packaging with excellent protection against moisture, oxygen, and other environmental components. PVA films not only offer exceptional barrier properties but also allow for easy handling of packaged products, which has resulted in their widespread adoption as a preferred food packaging solution. The market is further driven by the rising applications of PVA as a coating agent in the formulation of tablets and capsules across the pharmaceuticals sector. Moreover, PVA is extensively utilized as an additive in mortar and cement to minimize the drying time and prevent the chapping of the concrete material. It is also employed to improve the cohesion and fluidic properties of the cement while enhancing its adaptability. Significant growth in the construction sector across the globe is creating a positive outlook for the market. Also, an enhanced focus on sustainable development and the advent of bio-based PVA films in the market are expected to provide an impetus to the market growth. Some of the other factors contributing to the market include extensive research and development (R&D) activities and the increasing usage of PVA as thin-film transistors for the manufacturing of low-cost and versatile electronics. On account of the aforementioned factors, the market is expected to reach a value of US$ 1164 Million by 2026, expanding at a CAGR of 4.30% during 2021-2026.
- On the basis of the product type, the market has been divided into fully hydrolyzed, partially hydrolyzed, sub-partially hydrolyzed, low foaming grades, and others.
- Based on the end use industry, the market has been classified into paper, food packaging, construction, electronics, and others.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include Anhui Wanwei Group Co. Ltd., Celanese Corporation, Chang Chun Group, China Petroleum and Chemical Corporation (China Petrochemical Corporation), Japan Vam & Poval Co. Ltd. (Shin-Etsu Chemical), Kuraray Co. Ltd., Nippon Gohsei (UK) Limited (Mitsubishi Chemical Corporation), OCI Company Ltd., Sekisui Chemical Co. Ltd., and Solutia Inc. (Eastman Chemical Company).
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