Polyvinyl Alcohol Fiber Market Size was valued at USD 0.51 Billion in 2022. The polyvinyl alcohol fiber industry is projected to grow from USD 0.534 Billion in 2023 to USD 0.7844 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.90% during the forecast period (2023 - 2032). The rise in cement demand in the construction industry, as well as the increased use of polyvinyl alcohol fiber in the textile industry, are important market driver for the polyvinyl alcohol fiber market.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The market CAGR is being propelled by factors including the rising need for biodegradable and environmentally friendly materials and the expanding use of polyvinyl alcohol fiber in the building and automotive industries. As people become more aware of how traditional materials affect the environment, the need for biodegradable and environmentally friendly materials is rising. The biodegradable nature of polyvinyl alcohol fiber is anticipated to fuel market expansion. The market is expanding as a result of the expanding usage of polyvinyl alcohol fiber in the building and automotive industries. Polyvinyl alcohol fiber is widely used in the automobile industry. The substance makes seat belts, airbags, and other safety accessories.
The market is propelled by the rising demand for environmentally friendly and biodegradable packaging options, which is anticipated to spur market expansion over the forecast period. A form of synthetic fiber manufactured from polyvinyl alcohol is PVA fiber. It is renowned for its durability, flexibility, and water resistance. PVA fiber is frequently used in the textile sector to make carpet, upholstery, and garments. It is also employed in manufacturing paper goods like paper towels and napkins in the paper industry. PVA fiber is a desirable packaging material for the food and beverage sector since it is biodegradable and environmentally friendly. Over the course of the forecast period, the market is anticipated to expand due to the rising demand for biodegradable and environmentally friendly packaging solutions. Thus, driving the polyvinyl alcohol fiber market revenue.
The polyvinyl alcohol fiber market segmentation, based on application includes textile and apparel, filter and non-woven, ropes and fishing nets, construction and paper. The construction segment dominated the market because of polyvinyl alcohol's many characteristics, which include its potential for adsorption, superior water solubility, and high particle density. Furthermore, polyvinyl alcohol fibers are used extensively in the textile industry. A moderate growth rate is anticipated throughout the projection period for the textiles industry. In textiles, polyvinyl alcohol fiber is used as a strengthening agent and to add hydrophobic qualities. It facilitates the production of resilient fabrics with the required look. Furthermore, it stops the fabric from wrinkling and shrinking.
The polyvinyl alcohol fiber market segmentation, based on type, includes water-soluble fiber and high-strength modulus fiber. The high-strength modulus fiber category generated the most income. Numerous applications call for high stiffness and strength, and high-strength modulus-type fibers are used. These fibers display excellent chemical resistance, dimensional stability, and abrasion resistance. The automotive, building, aerospace, and defense sectors are where they are most commonly used.
Figure 1: Â Polyvinyl Alcohol Fiber Market, by Type, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
By region, the study provides market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American polyvinyl alcohol fiber market area will dominate this market. The rise in demand from a variety of end-use industries, including the transportation, construction, and textile industries, is responsible for the expansion of the North American polyvinyl alcohol fiber market. The market for polyvinyl alcohol fibers in this region is also anticipated to rise as consumer awareness of the environment increases.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: Â POLYVINYL ALCOHOL FIBER MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe polyvinyl alcohol fiber market accounts for the second-largest market share due to the expanding demand from various end-use sectors, including transportation, construction, and textiles. It is also anticipated that strict government rules pertaining to environmental protection will accelerate the expansion of this industry. Furthermore, the increasing volumes of solid waste in this region are anticipated to drive up demand for PVA in packaging applications. Additionally, throughout the forecast period, the regional market is anticipated to increase due to rising package innovation and customer demand for safety, convenience, technology, and sustainability. Further, the German polyvinyl alcohol fiber market held the largest market share, and the UK polyvinyl alcohol fiber market was the fastest growing market in the European region
The Asia-Pacific Polyvinyl alcohol fiber Market is expected to grow at the fastest CAGR from 2023 to 2032. The existence of a large population and emerging nations in this region are the primary driving forces behind the market's expansion. A significant amount of reinforced concrete is needed for the Indian government's recent investments in infrastructure, such as the high-speed bullet train, metro rail, and national highways. Another significant element driving the expansion of the polyvinyl alcohol fiber market is the existence of the textile industries in China and India and the region's expanding exports of goods related to the textile industry. Moreover, China’s polyvinyl alcohol fiber market held the largest market share, and the Indian polyvinyl alcohol fiber market was the fastest growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the polyvinyl alcohol fiber market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, polyvinyl alcohol fiber industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the polyvinyl alcohol fiber industry to benefit clients and increase the market sector. In recent years, the polyvinyl alcohol fiber industry has offered some of the most significant advantages to market. Major players in the polyvinyl alcohol fiber market attempting to increase market demand by investing in research and development operations include Hunan Xiangwei Co., Ltd., UNITIKA LTD., MiniFIBERS, Inc., Bowling Chemical Co., Sinopec Sichuan Vinylon Works, NYCON, Inner Mongolia Shuangxin Environment-Friendly Material Co., Ltd., KURARAY CO., LTD., Ningxia Dadi Circular Development Corp. Ltd, and Anhui Wanwei Group.
Hunan Xiangwei Co., Ltd., formerly known as the Vinylon plant and abbreviated as Xiangwei, is a sizable integrated chemical industrial and chemical fiber complex that began construction in 1971 and began production in 1978 after 130 million of early research. Chemicals are produced and sold by Hunan Xiangwei Co. Ltd. The company manufactures chemical fibers, polyvinyl alcohol, instant glue powders, instant glue silks, and other goods. Cement and textiles are other products made by Hunan Xiangwei. Due to the ongoing advancement of technological growth and transformation, a wide range of industries, including the chemical industry, chemical fiber, textile, construction materials, etc., are involved in producing its products.
The leading provider and manufacturer of reinforcing for concrete, asphalt, and plastic applications is Hunan Xiangwei Co., Ltd. (formerly Vinylon factory, Nycon Corporation). Nycon Corporation, which was established in 1980, has developed into a top supplier of GFRP rebar and all types of fibers. Some of its fibers include nylon, green, polypropylene, steel, PVA, fiberglass, and macros. Its GFRP rebar does not rust, or react to chemicals, salt, or concrete's alkalinity. It is non-conductive and doesn't build thermal bridges inside of buildings.
March 2021:Â Eastman Chemical Company invested in its manufacturing facility in Springfield, Massachusetts, to expand and improve its extrusion capabilities for the production of interlayer product lines.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 0.51 Billion |
| Market Size 2023 | USD 0.534 Billion |
| Market Size 2032 | USD 0.7844 Billion |
| Compound Annual Growth Rate (CAGR) | 4.90% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Application, Type and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Hunan Xiangwei Co., Ltd., UNITIKA LTD., MiniFIBERS, Inc., Bowling Chemical Co., Sinopec Sichuan Vinylon Works, NYCON, Inner Mongolia Shuangxin Environment-Friendly Material Co., Ltd., KURARAY CO., LTD., Ningxia Dadi Circular Development Corp. Ltd, and Anhui Wanwei Group |
| Key Market Opportunities | Rapid growth from automotive sector is driving sector |
| Key Market Dynamics | Rise in demand for cement in the construction industry & growth in use of PVA fiber in textile industry |
Polyvinyl Alcohol Fiber Market Highlights:
Frequently Asked Questions (FAQ) :
The polyvinyl alcohol fiber market size was valued at USD 0.51 Billion in 2022.
The polyvinyl alcohol fiber market is projected to grow at a CAGR of 4.90% during the forecast period, 2023-2032.
North America had the largest share in the polyvinyl alcohol fiber market
The key players in the polyvinyl alcohol fiber market are Hunan Xiangwei Co., Ltd., UNITIKA LTD., MiniFIBERS, Inc., Bowling Chemical Co., Sinopec Sichuan Vinylon Works, NYCON, Inner Mongolia Shuangxin Environment-Friendly Material Co., Ltd., KURARAY CO., LTD., Ningxia Dadi Circular Development Corp. Ltd, and Anhui Wanwei Group.
The construction category dominated the polyvinyl alcohol fiber market in 2022.
The high-strength modulus fiber had the largest share in the polyvinyl alcohol fiber market.
Senior Research Analyst With an experience of over five years in market research industry (chemicals & materials domain), i gather and analyze market data from diverse sources to produce results, which are then presented back to a client. also, provide recommendations based on the findings. as a senior research analyst, i perform quality checks (qc) for market estimations, qc for reports, and handle queries and work extensively on client customizations. also, handle the responsibilities of client proposals, report planning, report finalization, and execution
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