Polyvinyl Alcohol (PVA) Market Research Report - Forecast to 2023

COVID-19 Impact on Polyvinyl Alcohol Market

ID: MRFR/CnM/4364-CR | July, 2018 | Region : Global

Impact of COVID-19 on the Polyvinyl Alcohol Market


The novel corona virus pandemic is having a major impact on the chemicals industry. Demand for chemicals is experiencing severe shocks across end-markets, stock prices of several chemical companies have taken unprecedented hits, and the global supply chains are disrupted. The automotive & transportation, construction, and consumer products sectors are among the hardest hit end-markets, with demand for chemicals falling by over 30%. Whereas, the demand for pharmaceuticals, food additives, and disinfectants is peaking, and chemical companies exposed to these sectors are reporting record outbound volumes.


The chemical sector’s supply chain is strongly dependent on the Chinese market, which has been heavily impacted by the COVID-19 pandemic and instituted wide-ranging countermeasures to contain the pandemic, which includes shutting down of the industrial manufacturing sectors. In addition to creating potential challenges in obtaining necessary raw materials, the disruption of global supply chains has also been jeopardizing chemicals producers’ ability to deliver finished products to its customers.


The packaging industry is the largest consumer of polyvinyl alcohol, owing to its excellent oxygen and aroma barrier properties. With major industry sectors having stopped production, the governments have allowed manufacturing operations and delivery of essential commodities like food and medicines to continue. With food packaging being the packaging industry’s largest area of activity, the USD 900 billion global industry is on the front lines in this pandemic. However, the coronavirus crisis has already led to some of the sharpest declines in demand for certain types of packaging (industrial, luxury, and some B2B-transport packaging), while fast-tracking growth for e-commerce shipments (pharmaceuticals, FMCG, food) is being witnessed. Many packaging plants, along with food and pharmaceutical plants around the globe, are operational now and are likely to continue a steady growth in the years to follow.


Various leading players in the chemical industry have stepped up to produce raw materials required for safety products needed in order to limit the spread of the virus. Companies manufacturing fuel-grade alcohol are now manufacturing neutral alcohol for hand sanitizers and other disinfectants. The plastic manufacturers for sports gears are making medical shields. Key industry players such as Dow, Huntsman, and INEOS are ramping up the production of hand sanitizers. Moreover, Honeywell announced its plans to open a new manufacturing facility to produce protective masks, while Solvay partnered with Boeing to produce face shields in response.
response

The growing use of polyvinyl alcohol (PVOH) in applications that are witnessing a high demand is expected to sustain moderate growth for the global polyvinyl market during the assessment period. The global market is positioned to witness a CAGR of 4.09%, which projects a sluggish, yet consistent growth. Market valuation of the PVA market was recorded at USD 1.39 billion at the end of 2017 and is expected to reach an approximate evaluation of USD 1.76 billion by the end of the review period.


Polyvinyl alcohol is a petroleum-based biodegradable polymer and is soluble in water; which makes it a good choice for applications that require environmentally friendly materials. Presently, there is a global focus on improving the condition of the environment and reducing the impact of harmful chemicals. Consumers are increasingly demanding products which have a minimal carbon footprint. Amidst this, there is a high demand for conveniently packaged food items along with scrutiny on plastic consumption. As a result, the food & beverage industry is turning to biodegradable plastics in order to meet the high demand for sustainable packaging in a global consumer-centric environment. PVOH has emerged as the prime choice in manufacturing sustainable packaging due to its excellent oxygen barrier properties, solubility in water and biodegradability. Additionally, polyvinyl alcohol is one of the most extensively used polymers in vinyl-acetate based emulsions (VAE) as it acts as a superior emulsifying and dispersing agent. Use of these emulsions drastically enhances end-product properties. For instance, PVOH is used in the manufacturing of adhesives, its addition improves adhesion to hydrophilic substrates, offers better crosslinking, good wet tack, and good heat resistance. Moreover, vinyl acetate-based emulsion applications are not limited to adhesives and are used in paints & coatings, textile, re-dispersable powders and construction products. The wide applications of VAEs are expected to contribute to the growth of the global PVOH market.


Vinyl acetate monomer (VAM) is essential in the production of PVOH and has witnessed lower supply in the last few years, thus driving up the price of the raw material. The increasing prices of VAM are expected to hamper market growth during the review period. Despite this restraint, the market is expected to find ample opportunity for growth in the construction sector due to the increasing construction activities across the globe, particularly in emerging economies. PVOH is used in a wide variety of construction chemicals such as sealants, joint cement, grout, and mortar among others. With the global construction chemicals market, the PVOH market is expected to grow proportionally.


The global polyvinyl alcohol market is segmented on the basis of grade, end-use industry, and region. By grade, the market is segmented into partially hydrolyzed and fully hydrolyzed. Partially hydrolyzed polyvinyl alcohol accounts for the most significant share of the total market due to its high water-soluble nature and low viscosity, making it preferable than the alternative. Presently, the partially hydrolyzed PVOH segment accounted for over fifty percent of the total market and recorded value of USD 788.3 million in 2017. Projections for this segment estimate a value of USD 1.05 billion by the end of 2023 and a CAGR of 4.93% during the assessment period.


By end-use industry, the market is segmented into packaging, paper, construction, electronics, textile, and medical. The packaging segment currently accounts for 38.2% of the total market. The crucial use of PVOH in the production of biodegradable packaging will be a key contributor to the segment maintaining its leading position. However, the textile industry is expected to grow at the fastest CAGR of 5.49%, due to its extensive use for textile warp sizing applications. PVOH is also used to treat textile to maintain colorfastness. The steadily growing demand for textile and global demand for high quality is expected to affect positive growth for the PVOH market directly.


By region, the global market is segmented into North America, Europe, the Asia-Pacific, Latin America and the Middle East & Africa.


Regional Analysis


The Asia-Pacific accounts for the largest segment with the highest CAGR over the assessment period. The increasing demand from application industries in the region and presence of a huge textile industry is expected to encourage the growth of PVOH market. The region also has increasing use of construction chemicals for construction activities and PVOH's vital role in the production of such chemicals is expected to further contribute growth for the region. Additionally, the region, particularly Japan, has a high concentration of global market leaders in PVOH market. The Asia-Pacific region is expected to value USD 791.3 million by the end of 2023.


Led by Germany, Europe is the second largest regional market due to the presence of several key players in the market and the increasing demand for sustainable packaging.


Comparative Tracking


The market is semi-fragmented and in the report, analysis of major players include eminent market leaders such as Chang Chun Group., OCI Company Ltd., The Nippon Synthetic Chemical Industry Co. Ltd., Merck KGaA, Sekisui Chemical Co. Ltd., Anhui Wanwei Group., KURARAY CO. LTD., China Petroleum & Chemical Corporation, and Japan Vam & Poval Co. Ltd. among others.

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TABLE OF CONTENT

2.1 Definition 18

2.2 Scope of the Study 18

2.3 List of Assumptions 19

2.4 Market Structure 19

3.1 Key Takeaways 21

4.1 Research Process 25

4.2 Primary Research 26

4.3 Secondary Research 27

4.4 Market Size Estimation 27

4.5 Forecast Model 28

5.1 Introduction 30

5.2 Drivers 31

5.2.1 Increasing demand for sustainable packaging 31

5.2.2 Sanguine demand for PVOH an emulsion polymerization aid in VAEs 31

5.2.3 Additive for polyvinyl butyral manufacturing 32

5.2.4 Drivers Impact Analysis 33

5.3 Restraints 33

5.3.1 Volatility in raw material prices 33

5.3.2 Restraints Impact Analysis 33

5.4 Trends & Opportunities 34

5.4.1 Growing construction activities across the globe 34

5.4.2 Significant FDI & emerging electronics hub in ASEAN 34

5.4.3 Positive outlook for the textile industry in the emerging economies 34

6.1 Supply Chain Analysis 36

6.1.1 Raw Material Suppliers 36

6.1.2 Polyvinyl alcohol Manufacturers 36

6.1.3 Distribution Channel 37

6.1.4 End-User Application Industry 37

6.2 Porter's Five Forces Analysis 37

6.2.1 The Threat of New Entrants 37

6.2.2 Threat of Rivalry 38

6.2.3 Threat of Substitute 38

6.2.4 Bargaining Power of Supplier 38

6.2.5 Bargaining Power of Buyer 38

7.1 Introduction 40

7.2 Partially Hydrolysed 41

7.3 Fully Hydrolysed 43

8.1 Introduction 45

8.2 Packaging 47

8.3 Paper 48

8.4 Construction 49

8.5 Electronics 50

8.6 Textile 51

8.7 Medical 52

9.1 Introduction 54

9.2 North America 57

9.2.1 U.S. 59

9.2.2 Canada 61

9.3 Europe 62

9.3.1 Germany 65

9.3.2 France 66

9.3.3 Spain 68

9.3.4 Italy 69

9.3.5 UK 71

9.3.6 Russia 72

9.3.7 Poland 74

9.3.8 Rest of Europe 75

9.4 Asia Pacific 77

9.4.1 China 79

9.4.2 Japan 81

9.4.3 ASEAN 82

9.4.4 India 84

9.4.5 South Korea 85

9.4.6 Australia 87

9.4.7 Rest of Asia Pacific 88

9.5 Latin America 90

9.5.1 Brazil 92

9.5.2 Mexico 94

9.5.3 Argentina 95

9.5.4 Rest of Latin America 97

9.6 The Middle East and Africa 98

9.6.1 Turkey 101

9.6.2 Iran 102

9.6.3 UAE 104

9.6.4 Saudi Arabia 105

9.6.5 Rest of Middle East and Africa 107

10.1 Introduction 110

10.2 Market Strategy Analysis 110

10.3 Key Developments of Market Players 111

11.1 Merck KGaA 113

11.1.1 Company Overview 113

11.1.2 Financial Overview 113

11.1.3 Products Offerings 114

11.1.4 Key Developments 114

11.1.5 SWOT Analysis 115

11.1.6 Key Strategy 115

11.2 OCI COMPANY Ltd. 116

11.2.1 Company Overview 116

11.2.2 Financial Overview 116

11.2.3 Products Offerings 117

11.2.4 Key Developments 117

11.2.5 SWOT Analysis 117

11.2.6 Key Strategy 117

11.3 The Nippon Synthetic Chemical Industry Co., Ltd. 118

11.3.1 Company Overview 118

11.3.2 Financial Overview 118

11.3.3 Products Offerings 119

11.3.4 Key Developments 119

11.3.5 SWOT Analysis 120

11.3.6 Key Strategy 120

11.4 Sekisui Chemical Co., Ltd. 121

11.4.1 Company Overview 121

11.4.2 Financial Overview 121

11.4.3 Products Offerings 122

11.4.4 Key Developments 122

11.4.5 SWOT Analysis 122

11.4.6 Key Strategy 122

11.5 KURARAY CO., LTD. 123

11.5.1 Company Overview 123

11.5.2 Financial Overview 123

11.5.3 Products Offerings 124

11.5.4 Key Developments 124

11.5.5 SWOT Analysis 125

11.5.6 Key Strategy 125

11.6 Anhui Wanwei Group. 126

11.6.1 Company Overview 126

11.6.2 Financial Overview 126

11.6.3 Products Offerings 126

11.6.4 Key Developments 126

11.6.5 SWOT Analysis 127

11.6.6 Key Strategy 127

11.7 Chang Chun Group. 128

11.7.1 Company Overview 128

11.7.2 Financial Overview 128

11.7.3 Products Offerings 128

11.7.4 Key Developments 129

11.7.5 SWOT Analysis 129

11.7.6 Key Strategy 129

11.8 Japan Vam & Poval Co.,Ltd. 130

11.8.1 Company Overview 130

11.8.2 Financial Overview 130

11.8.3 Products Offerings 131

11.8.4 Key Developments 132

11.8.5 SWOT Analysis 132

11.8.6 Key Strategy 132

11.9 China Petroleum & Chemical Corporation 133

11.9.1 Company Overview 133

11.9.2 Financial Overview 133

11.9.3 Products Offerings 134

11.9.4 Key Developments 134

11.9.5 SWOT Analysis 134

11.9.6 Key Strategy 134

12.1 Key Findings 136

12.1.1 CEO’s Viewpoint 136


TABLE 1 MARKET SYNOPSIS 16

TABLE 2 LIST OF ASSUMPTIONS 19

TABLE 3 GLOBAL POLYVINYL ALCOHOL, BY GRADE, 2015-2023 (USD MILLION) 40

TABLE 4 GLOBAL POLYVINYL ALCOHOL MARKET, BY GRADE, 2015-2023 (KT) 41

TABLE 5 GLOBAL POLYVINYL ALCOHOL MARKET FOR PARTIALLY HYDROLYSED, BY REGION, 2015-2023 (USD MILLION) 42

TABLE 6 GLOBAL POLYVINYL ALCOHOL MARKET FOR PARTIALLY HYDROLYSED, BY REGION, 2015-2023 (KT) 42

TABLE 7 GLOBAL POLYVINYL ALCOHOL MARKET FOR FULLY HYDROLYSED, BY REGION, 2015-2023 (USD MILLION) 43

TABLE 8 GLOBAL POLYVINYL ALCOHOL MARKET FOR FULLY HYDROLYSED, BY REGION, 2015-2023 (KT) 43

TABLE 9 GLOBAL POLYVINYL ALCOHOL, BY END USE INDUSTRY, 2015-2023 (USD MILLION) 45

TABLE 10 GLOBAL POLYVINYL ALCOHOL MARKET, BY END USE INDUSTRY, 2015-2023 (KT) 46

TABLE 11 GLOBAL POLYVINYL ALCOHOL MARKET FOR PACKAGING, BY REGION, 2015-2023 (USD MILLION) 47

TABLE 12 GLOBAL POLYVINYL ALCOHOL MARKET FOR PACKAGING, BY REGION, 2015-2023 (KT) 47

TABLE 13 GLOBAL POLYVINYL ALCOHOL MARKET FOR PAPER, BY REGION, 2015-2023 (USD MILLION) 48

TABLE 14 GLOBAL POLYVINYL ALCOHOL MARKET FOR PAPER, BY REGION, 2015-2023 (KT) 48

TABLE 15 GLOBAL POLYVINYL ALCOHOL MARKET FOR CONSTRUCTION, BY REGION, 2015-2023 (USD MILLION) 49

TABLE 16 GLOBAL POLYVINYL ALCOHOLMARKET FOR CONSTRUCTION, BY REGION, 2015-2023 (KT) 49

TABLE 17 GLOBAL POLYVINYL ALCOHOL MARKET FOR ELECTRONICS, BY REGION, 2015-2023 (USD MILLION) 50

TABLE 18 GLOBAL POLYVINYL ALCOHOL MARKET FOR ELECTRONICS, BY REGION, 2015-2023 (KT) 50

TABLE 19 GLOBAL POLYVINYL ALCOHOL MARKET FOR TEXTILE, BY REGION, 2015-2023 (USD MILLION) 51

TABLE 20 GLOBAL POLYVINYL ALCOHOL MARKET FOR TEXTILE, BY REGION, 2015-2023 (KT) 51

TABLE 21 GLOBAL POLYVINYL ALCOHOL MARKET FOR MEDICAL, BY REGION, 2015-2023 (USD MILLION) 52

TABLE 22 GLOBAL POLYVINYL ALCOHOL MARKET FOR MEDICAL, BY REGION, 2015-2023 (KT) 52

TABLE 23 GLOBAL POLYVINYL ALCOHOL MARKET, BY REGION, 2015-2023 (USD MILLION) 54

TABLE 24 GLOBAL POLYVINYL ALCOHOL MARKET, BY REGION, 2015-2023 (KT) 55

TABLE 25 GLOBAL POLYVINYL ALCOHOL MARKET, BY GRADE, 2015-2023 ( USD MILLION) 55

TABLE 26 GLOBAL POLYVINYL ALCOHOL MARKET, BY GRADE, 2015-2023 (KT) 56

TABLE 27 GLOBAL POLYVINYL ALCOHOL MARKET, BY END USE INDUSTRY, 2015-2023 ( USD MILLION) 56

TABLE 28 GLOBAL POLYVINYL ALCOHOL MARKET, BY END USE INDUSTRY, 2015-2023 (KT) 57

TABLE 29 NORTH AMERICA POLYVINYL ALCOHOL MARKET, BY COUNTRY, 2015-2023 (USD MILLION) 57

TABLE 30 NORTH AMERICA POLYVINYL ALCOHOL MARKET, BY COUNTRY, 2015-2023 (KT) 57

TABLE 31 NORTH AMERICA POLYVINYL ALCOHOL MARKET, BY GRADE, 2015-2023 ( USD MILLION) 58

TABLE 32 NORTH AMERICA POLYVINYL ALCOHOL MARKET, BY GRADE, 2015-2023 (KT) 58

TABLE 33 NORTH AMERICA POLYVINYL ALCOHOL MARKET, BY END USE INDUSTRY, 2015-2023 (USD MILLION) 58

TABLE 34 NORTH AMERICA POLYVINYL ALCOHOL MARKET, BY END USE INDUSTRY, 2015-2023 (KT) 59

TABLE 35 U.S. POLYVINYL ALCOHOL MARKET, BY GRADE, 2015-2023 ( USD MILLION) 59

TABLE 36 U.S. POLYVINYL ALCOHOL MARKET, BY GRADE, 2015-2023 (KT) 59

TABLE 37 U.S. POLYVINYL ALCOHOL MARKET, BY END USE INDUSTRY, 2015-2023 (USD MILLION) 60

TABLE 38 U.S. POLYVINYL ALCOHOLMARKET, BY END USE INDUSTRY, 2015-2023 (KT) 60

TABLE 39 CANADA POLYVINYL ALCOHOL MARKET, BY GRADE, 2015-2023 ( USD MILLION) 61

TABLE 40 CANADA POLYVINYL ALCOHOL MARKET, BY GRADE, 2015-2023 (KT) 61

TABLE 41 CANADA POLYVINYL ALCOHOL MARKET, BY END USE INDUSTRY, 2015-2023 (USD MILLION) 61

TABLE 42 CANADA POLYVINYL ALCOHOL MARKET, BY END USE INDUSTRY, 2015-2023 (KT) 62

TABLE 43 EUROPE POLYVINYL ALCOHOL MARKET, BY COUNTRY, 2015-2023 (USD MILLION) 62

TABLE 44 EUROPE POLYVINYL ALCOHOL MARKET, BY COUNTRY, 2015-2023 (KT) 63

TABLE 45 EUROPE POLYVINYL ALCOHOL MARKET, BY GRADE, 2015-2023 ( USD MILLION) 63

TABLE 46 EUROPE POLYVINYL ALCOHOL MARKET, BY GRADE, 2015-2023 (KT) 63

TABLE 47 EUROPE POLYVINYL ALCOHOL MARKET, BY END USE INDUSTRY, 2015-2023 (USD MILLION) 64

TABLE 48 EUROPE POLYVINYL ALCOHOL MARKET, BY END USE INDUSTRY, 2015-2023 (KT) 64

TABLE 49 GERMANY POLYVINYL ALCOHOL MARKET, BY GRADE, 2015-2023 ( USD MILLION) 65

TABLE 50 GERMANY POLYVINYL ALCOHOL MARKET, BY GRADE, 2015-2023 (KT) 65

TABLE 51 GERMANY POLYVINYL ALCOHOL MARKET, BY END USE INDUSTRY, 2015-2023 (USD MILLION) 65

TABLE 52 GERMANY POLYVINYL ALCOHOL MARKET, BY END USE INDUSTRY, 2015-2023 (KT) 66

TABLE 53 FRANCE POLYVINYL ALCOHOL MARKET, BY GRADE, 2015-2023 ( USD MILLION) 66

TABLE 54 FRANCE POLYVINYL ALCOHOL MARKET, BY GRADE, 2015-2023 (KT) 66

TABLE 55 FRANCE POLYVINYL ALCOHOL MARKET, BY END USE INDUSTRY, 2015-2023 (USD MILLION) 67

TABLE 56 FRANCE POLYVINYL ALCOHOL MARKET, BY END USE INDUSTRY, 2015-2023 (KT) 67

TABLE 57 SPAIN POLYVINYL ALCOHOL MARKET, BY GRADE, 2015-2023 ( USD MILLION) 68

TABLE 58 SPAIN POLYVINYL ALCOHOL MARKET, BY GRADE, 2015-2023 (KT) 68

TABLE 59 SPAIN POLYVINYL ALCOHOL MARKET, BY END USE INDUSTRY, 2015-2023 (USD MILLION) 68

TABLE 60 SPAIN POLYVINYL ALCOHOL MARKET, BY END USE INDUSTRY, 2015-2023 (KT) 69

TABLE 61 ITALY POLYVINYL ALCOHOL MARKET, BY GRADE, 2015-2023 ( USD MILLION) 69

TABLE 62 ITALY POLYVINYL ALCOHOL MARKET, BY GRADE, 2015-2023 (KT) 69

TABLE 63 ITALY POLYVINYL ALCOHOL MARKET, BY END USE INDUSTRY, 2015-2023 (USD MILLION) 70

TABLE 64 ITALY POLYVINYL ALCOHOL MARKET, BY END USE INDUSTRY, 2015-2023 (KT) 70

TABLE 65 UK POLYVINYL ALCOHOL MARKET, BY GRADE, 2015-2023 ( USD MILLION) 71

TABLE 66 UK POLYVINYL ALCOHOL MARKET, BY GRADE, 2015-2023 (KT) 71

TABLE 67 UK POLYVINYL ALCOHOLMARKET, BY END USE INDUSTRY, 2015-2023 (USD MILLION) 71

TABLE 68 UK POLYVINYL ALCOHOLMARKET, BY END USE INDUSTRY, 2015-2023 (KT) 72

TABLE 69 RUSSIA POLYVINYL ALCOHOL MARKET, BY GRADE, 2015-2023 ( USD MILLION) 72

TABLE 70 RUSSIA POLYVINYL ALCOHOL MARKET, BY GRADE, 2015-2023 (KT) 72

TABLE 71 RUSSIA POLYVINYL ALCOHOL MARKET, BY END USE INDUSTRY, 2015-2023 (USD MILLION) 73

TABLE 72 RUSSIA POLYVINYL ALCOHOL MARKET, BY END USE INDUSTRY, 2015-2023 (KT) 73

TABLE 73 POLAND POLYVINYL ALCOHOL MARKET, BY GRADE, 2015-2023 ( USD MILLION) 74

TABLE 74 POLAND POLYVINYL ALCOHOL MARKET, BY GRADE, 2015-2023 (KT) 74

TABLE 75 POLAND POLYVINYL ALCOHOLMARKET, BY END USE INDUSTRY, 2015-2023 (USD MILLION) 74

TABLE 76 POLAND POLYVINYL ALCOHOLMARKET, BY END USE INDUSTRY, 2015-2023 (KT) 75

TABLE 77 REST OF EUROPE POLYVINYL ALCOHOL MARKET, BY GRADE, 2015-2023 ( USD MILLION) 75

TABLE 78 REST OF EUROPE POLYVINYL ALCOHOL MARKET, BY GRADE, 2015-2023 (KT) 75

TABLE 79 REST OF EUROPE POLYVINYL ALCOHOL MARKET, BY END USE INDUSTRY, 2015-2023 (USD MILLION) 76

TABLE 80 REST OF EUROPE POLYVINYL ALCOHOL MARKET, BY END USE INDUSTRY, 2015-2023 (KT) 76

TABLE 81 ASIA PACIFIC POLYVINYL ALCOHOL MARKET, BY COUNTRY, 2015-2023 (USD MILLION) 77

TABLE 82 ASIA PACIFIC POLYVINYL ALCOHOL MARKET, BY COUNTRY, 2015-2023 (KT) 77

TABLE 83 ASIA PACIFIC POLYVINYL ALCOHOL MARKET, BY GRADE, 2015-2023 ( USD MILLION) 78

TABLE 84 ASIA PACIFIC POLYVINYL ALCOHOL MARKET, BY GRADE, 2015-2023 (KT) 78

TABLE 85 ASIA PACIFIC POLYVINYL ALCOHOL MARKET, BY END USE INDUSTRY, 2015-2023 (USD MILLION) 78

TABLE 86 ASIA PACIFIC POLYVINYL ALCOHOL MARKET, BY END USE INDUSTRY, 2015-2023 (KT) 79

TABLE 87 CHINA POLYVINYL ALCOHOL MARKET, BY GRADE, 2015-2023 ( USD MILLION) 79

TABLE 88 CHINA POLYVINYL ALCOHOL MARKET, BY GRADE, 2015-2023 (KT) 79

TABLE 89 CHINA POLYVINYL ALCOHOL MARKET, BY END USE INDUSTRY, 2015-2023 (USD MILLION) 80

TABLE 90 CHINA POLYVINYL ALCOHOLMARKET, BY END USE INDUSTRY, 2015-2023 (KT) 80

TABLE 91 JAPAN POLYVINYL ALCOHOL MARKET, BY GRADE, 2015-2023 ( USD MILLION) 81

TABLE 92 JAPAN POLYVINYL ALCOHOL MARKET, BY GRADE, 2015-2023 (KT) 81

TABLE 93 JAPAN POLYVINYL ALCOHOL MARKET, BY END USE INDUSTRY, 2015-2023 (USD MILLION) 81

TABLE 94 JAPAN POLYVINYL ALCOHOLMARKET, BY END USE INDUSTRY, 2015-2023 (KT) 82

TABLE 95 ASEAN POLYVINYL ALCOHOL MARKET, BY GRADE, 2015-2023 ( USD MILLION) 82

TABLE 96 ASEAN POLYVINYL ALCOHOL MARKET, BY GRADE, 2015-2023 (KT) 82

TABLE 97 ASEAN POLYVINYL ALCOHOL MARKET, BY END USE INDUSTRY, 2015-2023 (USD MILLION) 83

TABLE 98 ASEAN POLYVINYL ALCOHOL MARKET, BY END USE INDUSTRY, 2015-2023 (KT) 83

TABLE 99 INDIA POLYVINYL ALCOHOL MARKET, BY GRADE, 2015-2023 ( USD MILLION) 84

TABLE 100 INDIA POLYVINYL ALCOHOL MARKET, BY GRADE, 2015-2023 (KT) 84

TABLE 101 INDIA POLYVINYL ALCOHOL MARKET, BY END USE INDUSTRY, 2015-2023 (USD MILLION) 84

TABLE 102 INDIA POLYVINYL ALCOHOL MARKET, BY END USE INDUSTRY, 2015-2023 (KT) 85

TABLE 103 SOUTH KOREA POLYVINYL ALCOHOL MARKET, BY GRADE, 2015-2023 ( USD MILLION) 85

TABLE 104 SOUTH KOREA POLYVINYL ALCOHOL MARKET, BY GRADE, 2015-2023 (KT) 85

TABLE 105 SOUTH KOREA POLYVINYL ALCOHOL MARKET, BY END USE INDUSTRY, 2015-2023 (USD MILLION) 86

TABLE 106 SOUTH KOREA POLYVINYL ALCOHOL MARKET, BY END USE INDUSTRY, 2015-2023 (KT) 86

TABLE 107 AUSTRALIA POLYVINYL ALCOHOL MARKET, BY GRADE, 2015-2023 ( USD MILLION) 87

TABLE 108 AUSTRALIA POLYVINYL ALCOHOL MARKET, BY GRADE, 2015-2023 (KT) 87

TABLE 109 AUSTRALIA POLYVINYL ALCOHOL MARKET, BY END USE INDUSTRY, 2015-2023 (USD MILLION) 87

TABLE 110 AUSTRALIA POLYVINYL ALCOHOL MARKET, BY END USE INDUSTRY, 2015-2023 (KT) 88

TABLE 111 REST OF ASIA PACIFIC POLYVINYL ALCOHOL MARKET, BY GRADE, 2015-2023 ( USD MILLION) 88

TABLE 112 REST OF ASIA PACIFIC POLYVINYL ALCOHOL MARKET, BY GRADE, 2015-2023 (KT) 88

TABLE 113 REST OF ASIA PACIFIC POLYVINYL ALCOHOL MARKET, BY END USE INDUSTRY, 2015-2023 (USD MILLION) 89

TABLE 114 REST OF ASIA PACIFIC POLYVINYL ALCOHOL MARKET, BY END USE INDUSTRY, 2015-2023 (KT) 89

TABLE 115 LATIN AMERICA POLYVINYL ALCOHOL MARKET, BY COUNTRY, 2015-2023 (USD MILLION) 90

TABLE 116 LATIN AMERICA POLYVINYL ALCOHOL MARKET, BY COUNTRY, 2015-2023 (KT) 90

TABLE 117 LATIN AMERICA POLYVINYL ALCOHOL MARKET, BY GRADE, 2015-2023 ( USD MILLION) 90

TABLE 118 LATIN AMERICA POLYVINYL ALCOHOL MARKET, BY GRADE, 2015-2023 (KT) 91

TABLE 119 LATIN AMERICA POLYVINYL ALCOHOL MARKET, BY END USE INDUSTRY, 2015-2023 (USD MILLION) 91

TABLE 120 LATIN AMERICA POLYVINYL ALCOHOL MARKET, BY END USE INDUSTRY, 2015-2023 (KT) 92

TABLE 121 BRAZIL POLYVINYL ALCOHOL MARKET, BY GRADE, 2015-2023 ( USD MILLION) 92

TABLE 122 BRAZIL POLYVINYL ALCOHOL MARKET, BY GRADE, 2015-2023 (KT) 92

TABLE 123 BRAZIL POLYVINYL ALCOHOL MARKET, BY END USE INDUSTRY, 2015-2023 (USD MILLION) 93

TABLE 124 BRAZIL POLYVINYL ALCOHOL MARKET, BY END USE INDUSTRY, 2015-2023 (KT) 93

TABLE 125 MEXICO POLYVINYL ALCOHOL MARKET, BY GRADE, 2015-2023 ( USD MILLION) 94

TABLE 126 MEXICO POLYVINYL ALCOHOL MARKET, BY GRADE, 2015-2023 (KT) 94

TABLE 127 MEXICO POLYVINYL ALCOHOL MARKET, BY END USE INDUSTRY, 2015-2023 (USD MILLION) 94

TABLE 128 MEXICO POLYVINYL ALCOHOL MARKET, BY END USE INDUSTRY, 2015-2023 (KT) 95

TABLE 129 ARGENTINA POLYVINYL ALCOHOL MARKET, BY GRADE, 2015-2023 ( USD MILLION) 95

TABLE 130 ARGENTINA POLYVINYL ALCOHOL MARKET, BY GRADE, 2015-2023 (KT) 95

TABLE 131 ARGENTINA POLYVINYL ALCOHOL MARKET, BY END USE INDUSTRY, 2015-2023 (USD MILLION) 96

TABLE 132 ARGENTINA POLYVINYL ALCOHOL MARKET, BY END USE INDUSTRY, 2015-2023 (KT) 96

TABLE 133 REST OF LATIN AMERICA POLYVINYL ALCOHOL MARKET, BY GRADE, 2015-2023 ( USD MILLION) 97

TABLE 134 REST OF LATIN AMERICA POLYVINYL ALCOHOL MARKET, BY GRADE, 2015-2023 (KT) 97

TABLE 135 REST OF LATIN AMERICA POLYVINYL ALCOHOL MARKET, BY END USE INDUSTRY, 2015-2023 (USD MILLION) 97

TABLE 136 REST OF LATIN AMERICA POLYVINYL ALCOHOL MARKET, BY END USE INDUSTRY, 2015-2023 (KT) 98

TABLE 137 THE MIDDLE EAST AND AFRICA POLYVINYL ALCOHOL MARKET, BY COUNTRY, 2015-2023 (USD MILLION) 98

TABLE 138 THE MIDDLE EAST AND AFRICA POLYVINYL ALCOHOL MARKET, BY COUNTRY, 2015-2023 (KT) 99

TABLE 139 THE MIDDLE EAST AND AFRICA POLYVINYL ALCOHOL MARKET, BY GRADE, 2015-2023 ( USD MILLION) 99

TABLE 140 THE MIDDLE EAST AND AFRICA POLYVINYL ALCOHOL MARKET, BY GRADE, 2015-2023 (KT) 99

TABLE 141 THE MIDDLE EAST AND AFRICA POLYVINYL ALCOHOL MARKET, BY END USE INDUSTRY, 2015-2023 (USD MILLION) 100

TABLE 142 THE MIDDLE EAST AND AFRICA POLYVINYL ALCOHOLMARKET, BY END USE INDUSTRY, 2015-2023 (KT) 100

TABLE 143 TURKEY POLYVINYL ALCOHOL MARKET, BY GRADE, 2015-2023 ( USD MILLION) 101

TABLE 144 TURKEY POLYVINYL ALCOHOL MARKET, BY GRADE, 2015-2023 (KT) 101

TABLE 145 TURKEY POLYVINYL ALCOHOL MARKET, BY END USE INDUSTRY, 2015-2023 (USD MILLION) 101

TABLE 146 TURKEY POLYVINYL ALCOHOL MARKET, BY END USE INDUSTRY, 2015-2023 (KT) 102

TABLE 147 IRAN POLYVINYL ALCOHOL MARKET, BY GRADE, 2015-2023 ( USD MILLION) 102

TABLE 148 IRAN POLYVINYL ALCOHOL MARKET, BY GRADE, 2015-2023 (KT) 102

TABLE 149 IRAN POLYVINYL ALCOHOLMARKET, BY END USE INDUSTRY, 2015-2023 (USD MILLION) 103

TABLE 150 IRAN POLYVINYL ALCOHOLMARKET, BY END USE INDUSTRY, 2015-2023 (KT) 103

TABLE 151 UAE POLYVINYL ALCOHOL MARKET, BY GRADE, 2015-2023 ( USD MILLION) 104

TABLE 152 UAE POLYVINYL ALCOHOL MARKET, BY GRADE, 2015-2023 (KT) 104

TABLE 153 UAE POLYVINYL ALCOHOL MARKET, BY END USE INDUSTRY, 2015-2023 (USD MILLION) 104

TABLE 154 UAE POLYVINYL ALCOHOL MARKET, BY END USE INDUSTRY, 2015-2023 (KT) 105

TABLE 155 SAUDI ARABIA POLYVINYL ALCOHOL MARKET, BY GRADE, 2015-2023 ( USD MILLION) 105

TABLE 156 SAUDI ARABIA POLYVINYL ALCOHOL MARKET, BY GRADE, 2015-2023 (KT) 105

TABLE 157 SAUDI ARABIA POLYVINYL ALCOHOL MARKET, BY END USE INDUSTRY, 2015-2023 (USD MILLION) 106

TABLE 158 SAUDI ARABIA POLYVINYL ALCOHOL MARKET, BY END USE INDUSTRY, 2015-2023 (KT) 106

TABLE 159 REST OF MIDDLE EAST AND AFRICA POLYVINYL ALCOHOL MARKET, BY GRADE, 2015-2023 ( USD MILLION) 107

TABLE 160 REST OF MIDDLE EAST AND AFRICA POLYVINYL ALCOHOL MARKET, BY GRADE, 2015-2023 (KT) 107

TABLE 161 REST OF MIDDLE EAST AND AFRICA POLYVINYL ALCOHOL MARKET, BY END USE INDUSTRY, 2015-2023 (USD MILLION) 107

TABLE 162 REST OF MIDDLE EAST AND AFRICA POLYVINYL ALCOHOL MARKET, BY END USE INDUSTRY, 2015-2023 (KT) 108

TABLE 163 KEY DEVELOPMENTS 111




FIGURE 1 GLOBAL POLYVINYL ALCOHOL MARKET: MARKET STRUCTURE 19

FIGURE 2 KEY TAKEAWAYS OF THE POLYVINYL ALCOHOL MARKET 21

FIGURE 3 NORTH AMERICA MARKET SIZE & MARKET SHARE BY COUNTRY (2017 VS 2023) 21

FIGURE 4 EUROPE MARKET SIZE & MARKET SHARE BY COUNTRY (2017 VS 2023) 22

FIGURE 5 ASIA PACIFIC & MARKET SHARE BY COUNTRY (2017 VS 2023) 22

FIGURE 6 LATIN AMERICA MARKET SIZE & MARKET SHARE BY COUNTRY (2017 VS 2023) 23

FIGURE 7 MIDDLE EAST & AFRICA MARKET SIZE & MARKET SHARE BY COUNTRY (2017 VS 2023) 23

FIGURE 8 RESEARCH PROCESS OF MRFR 25

FIGURE 9 TOP DOWN & BOTTOM-UP APPROACH 28

FIGURE 10 DROC ANALYSIS OF GLOBAL POLYVINYL ALCOHOL MARKET 30

FIGURE 11 GLOBAL PACKAGED FOOD REVENUE, 2015-2023 (USD BILLION) 31

FIGURE 12 GLOBAL VINYL ACETATE EMULSION MARKET REVENUE, (2016-2023) 32

FIGURE 13 GLOBAL POLYVINYL BUTYRAL MARKET REVENUE, (2016-2023) 32

FIGURE 14 DRIVERS IMPACT ANALYSIS: POLYVINYL ALCOHOL MARKET 33

FIGURE 15 RESTRAINTS IMPACT ANALYSIS: POLYVINYL ALCOHOL MARKET 33

FIGURE 16 SUPPLY CHAIN ANALYSIS 36

FIGURE 17 PORTER’S FIVE FORCES ANALYSIS OF THE GLOBAL POLYVINYL ALCOHOL MARKET 37

FIGURE 18 GLOBAL POLYVINYL ALCOHOL MARKET, BY GRADE, 2015-2023 (USD MILLION) 40

FIGURE 19 GLOBAL POLYVINYL ALCOHOL MARKET, BY GRADE, 2015-2023 (KT) 41

FIGURE 20 GLOBAL POLYVINYL ALCOHOL MARKET, BY END USE INDUSTRY, 2015-2023 (USD MILLION) 45

FIGURE 21 GLOBAL POLYVINYL ALCOHOL MARKET, BY END USE INDUSTRY, 2015-2023 (KT) 46

FIGURE 22 GLOBAL POLYVINYL ALCOHOL MARKET BY REGION, 2015-2023 (USD MILLION) 54

FIGURE 23 GLOBAL POLYVINYL ALCOHOL MARKET BY REGION, 2015-2023 (KT) 55

FIGURE 24 MARKET STRATEGY ANALYSIS 110



Polyvinyl Alcohol Market

Competitive landscape –Polyvinyl Alcohol Market


The polyvinyl alcohol demand is growing at a sluggish rate. However, the demand in emerging economies is slated to grow moderately. The market is semi-fragmented and is dominated by tier-1 players. Kuraray accounts for the largest market share in the global polyvinyl alcohol market in terms of revenue and capacity. Competition among the players is moderate, and most of the players have a vertically integrated business.


The major players operating in the global polyvinyl alcohol market are Merck KGaA (Germany), OCI COMPANY Ltd.(South Korea), The Nippon Synthetic Chemical Industry Co., Ltd.(Japan), Sekisui Chemical Co., Ltd. (Japan), KURARAY CO., LTD.(Japan), Anhui Wanwei Group.(China), Chang Chun Group.(Taiwan), Japan Vam & Poval Co.,Ltd.(Japan), and China Petroleum & Chemical Corporation (China) among others. Among the aforementioned players KURARAY CO., LTD. is the leading market player with a nameplate capacity of 361 KT; the company has production units in Japan, Singapore, Europe, and the U.S. The company’s main strategy revolves around the expansion of capacities and offer superior quality products at competitive prices. For instance, in 2016, KURARAY CO., LTD inaugurated a new KURARAY POVAL plant in Pasadena, Texas. The plant cost around USD 300 million and would produce 40,000 metric tons of PVOH annually. This capacity expansion helped the company to meet the rising demand for polyvinyl alcohol across North America


In 2016, Kuraray America Inc, a subsidiary of Kuraray Co. Ltd. inaugurated their new La Porte plant with an annual production capacity of more than 40,000 tons of PVOH. This has helped the company to become the world’s largest manufacturer of PVOH with 365,000 tons capacity.


In 2015, Kuraray announced to expand their manufacturing facility of optical use POVAL film at their Saijo, Japan-based location. The company would increase the production capacity by 20 million square meters/year.


Sekisui Chemical Co., Ltd. is involved in the manufacturing of high-performance plastics for automotive, information technology industries, and medical; and provides residential housing construction. The company operates through three business segments namely housing, urban infrastructure and environmental products (UIEP), and high-performance plastics (HPP). The company is one of the leading players operating in the global polyvinyl alcohol market. In 2009, it purchased the polyvinyl alcohol business from Celanese Corporation with a production capacity of 120,000 TPA to address the growing demand for PVA films in the U.S and Europe. The company has production units situated in Calvert City, Kentucky, Pasadena, Texas and Tarragona, Spain. Sekisui has secured its position among the top five manufacturers in the global polyvinyl alcohol market.


In 2013, the company launched five new cosmetic grades polymers under the brand name Selvol Utalux. The newly launched product is equivalent to the Selvol polyvinyl alcohol grades. The newly launched product is in sync with the active ingredients requirements of personal care industry.


Merck KGaA is involved in the manufacturing of chemical products and pharmaceutical. The company operates through three business segment namely healthcare, life science, and performance materials. The life science segment offers laboratory materials, technologies, and services. The performance materials sector comprises of specialty chemicals and materials for demanding applications. The company has its presence across Europe, North America, and Asia Pacific. The company’s main strategy for polyvinyl alcohol includes product launches.


For instance, in 2016, Merck kGaA introduced a new product named as Parteck MXP, a polyvinyl alcohol-based excipient. This product launch helped the company to expand the product portfolio and to meet the rising demand for PVA worldwide


In 2015, Merck kGaA introduced Parteck® SRP 80, a PVA based new functional excipient for oral sustained release formulations. This product launch helped the company to meet the increasing demand for PVA in pharmaceutical applications.


The Nippon Synthetic Chemical Industry Co., Ltd. is involved in the production, processing, and sales of synthetic resin products in Japan and internationally. The company offers gohsenol and numerous specialty polyvinyl alcohol products. The company also offers IT and electronic products comprising OPL film, an indispensable element of LCD displays, which are used in making polarizing films, soarnol, soarlite, and soaresin products. Moreover, the company provides specialty polymers consisting of coponyl, shikoh, nichigo polyester, mowinyl, mowinyl-powder, and other products. The Nippon Synthetic Chemical Industry Co., Ltd. is a subsidiary of Mitsubishi Chemical Corporation.


In 2016, NIPPON GOHSEI, a leading manufacturer of specialty chemicals, expanded the production capacity of Hi-Selon, a water-soluble plastic film made from polyvinyl alcohol at their plant location in Japan. This expansion has helped the company to meet the rising demand for PVA films.