Polyvinyl Alcohol Market Size Worth $7.1 Billion By 2030: IndustryARC

Global Polyvinyl Alcohol Market size is predicted to reach $7.1 billion by 2030, growing at a CAGR of 6.3% during the forecast period 2024-2030 according to the latest market research report published by IndustryARC. Increasing usage in the electronics industry and Rising demand from the packaging industry is poised to propel the market growth, finds IndustryARC in its recent report, titled “Polyvinyl Alcohol Market – By Product Type (Fully Hydrolyzed, Partially Hydrolyzed, Sub-Partially Hydrolyzed, Low Foaming Grades, and Others), By Application (Packaging, Papermaking & Processing, Building & Construction, Electronics, Textile, Medical, Personal Care, and Others), By Geography – Global Opportunity Analysis & Industry Forecast, 2024-2030”

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APAC to Register Highest Growth:

APAC to register highest growth in the polyvinyl alcohol market held with a significant market share of 44% in 2023 and is expected to grow over the forecast period. In May 2023, according to National Environment Agency’s (NEA) annual waste and recycling report, around 7.39 million tonnes of solid waste were generated last year (2022). The rising solid waste volumes in this region are projected to fuel the demand for PVA in packaging applications over the forecast period.

Polyvinyl Alcohol Market 2024-2030: Scope of the Report

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Polyvinyl Alcohol Market Report – Key Takeaways:

• Building & Construction Sector to Register Highest Growth

By Application, Building & Construction sector segment is analyzed to grow at a CAGR of 6.65% over the forecast period 2024-2030. To increase their cohesion and fluidic properties, polyvinyl alcohol is used as an additive in mortar and cement, reducing the drying time for the concrete surface. It increases the adaptability of the coating and avoids the chapping of concrete fabric. Because of the presence of emerging economies such as India, Indonesia, Vietnam and others in the region, the construction industry has seen strong growth in the Asia-Pacific region. The growing attractiveness of these markets has resulted in huge investments in these countries manufacturing and service sectors. This has further created demand for both commercials as well as residential infrastructures, owing to which the construction projects have increased over the years.

• Partially Hydrolyzed is Leading the Market

By Product Type, Partially Hydrolyzed segment dominated the polyvinyl alcohol market in 2023. Unlike fully hydrolyzed PVA, which has high crystallinity and limited solubility, partially hydrolyzed PVA offers a balance between solubility and mechanical strength. This makes it highly desirable for various industrial applications. One of the key advantages of partially hydrolyzed PVA is its excellent film-forming capabilities, which are critical for applications such as water-soluble films and coatings. These films are widely used in packaging materials, agricultural films, and laundry bags, where their solubility in water is beneficial for reducing waste and promoting environmental sustainability. In the medical field, partially hydrolyzed PVA is utilized in wound dressings and drug delivery systems due to its favorable biocompatibility and ability to form hydrogels with controlled release properties. As demand for more sustainable and efficient materials grows, partially hydrolyzed PVA’s role in leading the market is expected to strengthen, supported by ongoing innovations and applications.

• Fluctuation in Raw Material Prices Poses a Challenge

The primary constraint in the polyvinyl alcohol (PVA) market is the fluctuation in raw material prices. PVA is derived from vinyl acetate and its derivatives, which are subject to price volatility influenced by global supply and demand dynamics, geopolitical tensions, and changes in the costs of petrochemical feedstocks. This price instability can significantly impact the cost of production for PVA manufacturers, leading to unpredictable pricing for end-users. Consequently, manufacturers may face challenges in maintaining profit margins and pricing stability, which can affect their competitiveness in the market. Additionally, high raw material costs may deter investment and expansion within the industry, further constraining market growth and innovation.

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Key Opportunity Analysis:

• Growing Demand in Medical Applications

PVA is increasingly used in the medical field due to its biocompatibility, biodegradability, and non-toxicity, which are critical attributes for medical products. For instance, PVA is utilized in the manufacture of wound dressings, drug delivery systems, and tissue engineering scaffolds. Its hydrophilic properties make it an excellent material for hydrogels, which are employed in various biomedical applications including contact lenses and artificial tears. The development of advanced medical technologies and a rising focus on minimally invasive procedures are further fueling the demand for PVA. Additionally, as the global population ages and healthcare needs become more complex, the medical industry is expected to continue its reliance on PVA for innovative solutions. This trend is supported by ongoing research and development efforts aimed at enhancing the material’s functionality and expanding its applications, thereby presenting a robust growth opportunity in the polyvinyl alcohol market.

• Increasing Use in Environmental Applications

PVA is gaining attention for its environmentally friendly properties, especially its biodegradability and non-toxicity, which make it suitable for various eco-conscious applications. One significant area of application is in water-soluble films and packaging materials, which reduce plastic waste and environmental impact. PVA is also used in agricultural applications, such as in the formulation of biodegradable mulches and controlled-release fertilizers, which help minimize soil erosion and nutrient runoff. Furthermore, PVA’s role in wastewater treatment processes, where it aids in flocculation and the removal of contaminants, underscores its potential in supporting environmental sustainability. As global awareness of environmental issues grows and regulatory pressures increase, the demand for PVA-based solutions in these applications is expected to rise. This shift towards sustainable and eco-friendly materials is creating new opportunities for PVA to address environmental challenges, thereby driving market growth.

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The report also covers the following areas:

• Polyvinyl Alcohol Market Size and Forecast
• Polyvinyl Alcohol Market Trends
• Polyvinyl Alcohol Market Analysis by Product Type
• Polyvinyl Alcohol Market Analysis by Application

Polyvinyl Alcohol Market 2024-2030: Key Highlights

• CAGR of the market during the forecast period 2024-2030
• Value Chain Analysis of key stakeholders
• Detailed analysis of market drivers and opportunities during the forecast period
• Polyvinyl Alcohol Market size estimation and forecast
• Analysis and predictions on end users’ behavior and upcoming trends
• Competitive landscape and Vendor market analysis including offerings, developments, and financials
• Comprehensive analysis of challenges and constraints in the Polyvinyl Alcohol Market

Covid and Ukrainian Crisis Impact:

• The COVID-19 pandemic has significantly disrupted the polyvinyl alcohol (PVA) market by causing supply chain interruptions and raw material shortages. Lockdowns and travel restrictions led to delays in production and distribution, impacting the availability of PVA and increasing costs. Additionally, the pandemic’s strain on the healthcare system has influenced the demand dynamics, with a temporary decrease in some industrial applications and a shift in focus toward medical uses of PVA, such as in personal protective equipment and healthcare products. The pandemic has also accelerated the need for resilient supply chains and local production capabilities.
• The ongoing conflict between Russia and Ukraine has exacerbated the challenges faced by the global PVA market, particularly in terms of raw material supply and price volatility. Ukraine, a significant player in the global chemical supply chain, has experienced disruptions that affect the availability of key raw materials used in PVA production. The conflict has led to increased raw material costs and logistical hurdles, contributing to instability in PVA prices and supply chains. This geopolitical uncertainty has prompted companies to seek alternative suppliers and adjust their strategies to mitigate the impact on their operations and market stability.

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List of Key Market Players in the Polyvinyl Alcohol Market:

The Global Polyvinyl Alcohol Market is fragmented with several global and regional companies operating with expansive manufacturing capabilities and extensive distribution networks. The key companies profiled are listed below:

• Sekisui Chemical Co. Ltd.
• Kuraray Co. Ltd.
• Anhui Wanwei Group
• Astrra Chemicals
• SNP, Inc.
• Merck KGaA
• Mitsubishi Chemical Corporation
• Chang Chun Group
• Kanto Chemical Co.,Inc
• Junsei Chemical Co.,Ltd.

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