Polyvinyl alcohol Market Research Report—Global Forecast till 2030

Polyvinyl Alcohol (PVA) Market Research Report By Type (Partially Hydrolyzed, Fully Hydrolyzed), By End-Use Industry (Packaging, Paper, Construction, Electronics, Textile, Medical, Others) and region (North America, Europe, Asia-Pacific, South America, Middle East & Africa) - Forecast till 2030

ID: MRFR/CnM/4364-CR | September 2022 | Region: Global | 100 Pages         

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Polyvinyl Alcohol (PVA) Market

The Polyvinyl Alcohol (PVA) Market is estimated to acquire a market value of USD 1,986.3 Million while expanding at a CAGR of 4.76% by 2030.

Segmentation
By Grade Partially Hydrolyzed Fully Hydrolyzed
By End-Use Industry Food Packaging Textile Paper Medical Construction Electronics
Key Players
Companies Profiled   OCI COMPANY Ltd.   Merck KGaA   Sekisui Chemical Co.    Ltd.   KURARAY CO.    LTD.   Japan Vam & Poval Co.   Ltd.   Chang Chun Group.   China Petroleum & Chemical Corporation   Anhui Wanwei Group.   The Nippon Synthetic Chemical Industry Co.    Ltd
Drivers
Market Driving Forces    Growing Demand for Bio-Based PVA Products to Boost the Market Growth
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Polyvinyl Alcohol Market Overview


The global polyvinyl alcohol market is projected to witness significant growth during the forecast period, 2022–2030. In 2020, the global market was valued at USD XX. This number is expected to reach USD XX, with a XX% CAGR by the end of 2030. In terms of volume, the global market was sized at XXtons in 2021 and is expected to reach XXtons and exhibit a XX% CAGR by the end of 2030. The surging demand for polyvinyl alcohol in the packaging and textile industry is primarily driving the global polyvinyl alcohol market.


Polyvinyl alcohol (PVA) is produced by polymerization of vinyl acetate monomer followed by hydrolysis. PVA finds application in various end-use industries such as packaging, paper, textile, construction, electronics, and medical. Polyvinyl alcohol exhibits resistance to moisture and, therefore, is predominantly used in food packaging. Due to high water solubility and biodegradability, PVA has increasingly been used in the packaging, textile, and medical industry.


COVID-19 Impact on the polyvinyl alcohol    Market:


For all business sectors around the world, the coronavirus pandemic has produced a health problem as well as a difficult situation. During this pandemic, many national governments have provided guidelines to perform a clinical trial, perceiving the objective of the value of patient safety and protecting the credibility of the trial. To maintain the impact of the pandemic, the guidelines identified the need to adjust the trial and suggested that the regulatory agencies be flexible in the composition of the protocol adjustments. The bio-pharma industries have shifted their attention to developing vaccines and therapies for Covid-19 and the pressure of the crisis on medical centers worldwide. There was concern about the effect on the global economy of a U.S.-China trade war, the US presidential election, and Brexit in 2019. Therefore, the IMF had projected modest global growth of almost 3.4%, but Covid-19 suddenly modified the outlook. In terms of financial turnover, the clinical trial industry has increased further; for example, in India, the clinical trials industry has grown by 100 times at nearly 1414 percent annually between 2003 and 2010. Most industries accept that the guidance is a framework for drug developers to move dynamically forward and respond to trial changes, and to tackle the unusual challenges with independence. Clinical trials with the following features are likely to be delayed due to the COVID-19, which are patient groups, indications, type of endpoint, phases of the trial, locations of trial sites, size of the trial, and mechanism of action of therapy.


Moreover, due to the rapid spread of the COVID-19 pandemic across the globe, majorly in the US, Brazil, India, Russia, and other European countries, the number of clinical trials is increasing. All the countries are actively involved in the development of vaccines for Covid-19. Thus, the growth in the clinical trial market is expected to witness lucrative growth in the pandemic period.The novel Covid-19 disease is wreaking havoc on the chemical industry. The demand for chemicals is soaring across end industries, stock prices of numerous chemical businesses are plunging, and global supply systems are being disrupted. The automotive and transportation, construction, and consumer products industries are among the hardest hit end markets, with chemical demand down by more than 30%. In contrast, demand for pharmaceutical, food additives, and cleaning products is at an all-time high, with chemical businesses involved reporting record outbound quantities.


Market Dynamics


Drivers

  • Increasing demand for sustainable packaging: PVA is a petroleum-based biodegradable polymer and is soluble in water. With rising environmental scrutiny on plastic consumption, bio-degradable plastics are gaining more traction across the packaging industry, especially food packaging. The rising popularity of packed foods among consumers with the changing lifestyle and increasing working population propel the demand for sustainable packaging materials. Polyvinyl alcohol has various applications in the food industry as a binding and coating agent. It is a film coating agent, especially in applications where moisture barrier/ protection properties are required. Thus, PVA is emerging as a choice of packaging material among the food packaging industry owing to its excellent oxygen barrier properties, solubility in water, and biodegradability.


Restraints

  • Volatility in raw material prices: Vinyl acetate monomer (VAM) is the key raw material used in the manufacturing of polyvinyl alcohol. The global vinyl acetate monomers market has witnessed a tighter supply in recent years with plant shutdowns. VAM prices have witnessed a multi-year high across the US, Europe, and South Asia during the first quarter of FY2021. In Europe, VAM prices were assessed up at USD 1,280/metric ton mainly due to the limited to no availability of product and fright amongst buyers seeking to secure volumes beforehand. Meanwhile, in the US, the prices were assessed at USD 1,270/metric ton, while South Asia at USD 1,385/metric ton. Further, VAM producers in Asia and the Middle East have also upped their offers to USD 1,450 to 1,500/metric tons.


Opportunity

  • Growing construction activities across the globe: Polyvinyl alcohol is used in various construction chemicals such as sealants, joint cements, grouts, and mortars. The properties of PVA, such as high structural strength, tenacity, low elongation, high modulus, heat resistance, incompressibility, and UV resistance, are largely favorable to construction applications. Moreover, PVA is water-soluble and used extensively in concrete reinforcement. Its use is mainly driven by its emergence as a substitute for asbestos to reinforce cement products due to its anti-crack and anti-infiltration properties. The other application areas of PVA in the construction industry include fiber cement board, tiles, pipes, high strength ropes, safety nets, rubber tires with reinforced material for conveyor belts, fire hoses, and hoses.


Challenge

  • Regulatory challenges on raw material manufacturers: Vinyl acetate monomer (VAM) is used in the manufacturing of polyvinyl alcohol. Polyvinyl alcohol consumes around 50% of the global VAM production. Thus, the regulations regarding VAM directly impact the growth of the polyvinyl alcohol market. It also leads to high procurement cost, high storage and management cost, and approval charges, which imposes challenges on polyvinyl alcohol manufacturers.


Segmentation


By Type



  • Partially Hydrolysed

  • Fully Hydrolysed


By End Use Industry



  • Packaging

  • Paper

  • Construction

  • Electronics

  • Textile

  • Medical

  • Others


By Region



  • North America

  • Europe

  • Asia-Pacific

  • South America

  • Middle East & Africa


Regional Analysis


In North America, The US is the leading country in the region owing to the increasing consumption in textile raw materials, fabrics, apparel, yarns, and home furnishings, apart from other textile finished products. The textile industry in the US is the fourth largest exporter of textile related products and is focusing on technological advancement through investment, retooling, upgradation, adoption of lucrative technologies, and cost reduction. In Europe market is mainly driven by paper, textile, and food packaging industry. The European market is followed by North America market in polyvinyl alcohol market. The growth in the Asia pacific market is expanding in these regions due to the rising demand for products requiring water-soluble applications, such as detergents and agrochemical packaging. The market is expected to witness a booming period in the forecast period owing to changing lifestyles, increasing per capita incomes, and rising urbanisation. China, India, Uzbekistan, Brazil, Japan, South Korea, Thailand, Vietnam, Iran, etc., are some major countries in the region for the market. Latin America is expected to show moderate growth in the market due to social and economic instability in the region.The Latin American market is divided into Brazil, Peru, and Argentina are the major contributors in the region. In Middle East and Africa, due to political turmoil and ecomic instability growth in this region is expected to be moderate over the forecast period. However, improving conditions are anticipated to provide healthy growth opportunities to over mid term and longterm forecast.


Competitive Landscape


In the competitive landscape, the report analyses the degree of competition among the industry players as well as industry growth and market scenario. The global polyvinyl alcohol market is at a growing stage, representing moderate stats in terms of market value and overall volume. Over the past few years, the polyvinyl alcohol market has witnessed a healthy demand from various end use applications such as food packaging, textile, paper, medical, construction, and electronics. Nevertheless, the degree of competition among the market players is still less due to limited market players across the globe. The global market for polyvinyl alcohol is fragmented. The players in the market are adopting various strategies such as partnerships, joint ventures, and product launches, which in turn propels market growth.


KURARAY CO., LTD. (Japan), The Nippon Synthetic Chemical Industry Co., Ltd. (Japan), Sekisui Chemical Co., Ltd. (Japan), Merck KGaA (Germany), OCI Company Ltd. (South Korea), Anhui Wanwei Group Co., Ltd. (China), Chang Chun Group (Taiwan), Japan Vam & Poval Co., Ltd. (Japan), and China Petroleum & Chemical Corporation (China) are the major shareholders in the global polyvinyl alcohol market.


Some of the key developments include:



  • In June 2021, The company announced the completion of the PVA optical film project with an annual output of 7 million square meters.

  • In June 2021, Sekisui Chemical announced that it would increase the price of Selvol polyvinyl alcohol, Selvol Ultralux, Selvol Ultiloc, and Selvol Premiol. The amount for low viscosity grade will be USD 360 per metric ton, and for medium & high viscosity grade will be USD 450 per metric ton across the globe.

  • In May 2020, Celanese Corporation, a global chemical and specialty materials company, signed a long-term agreement with Anhui Wanwei Group Co., Ltd. to supply Celanese’s green technology-based, ethylene-based vinyl acetate monomer (VAM). VAM is used in the production of polyvinyl


Report Overview:


The polyvinyl alcohol market is segmented by type, end use industry and region in the report. In terms of insights, this report has focused on various levels of analysis such as market dynamics, value chain analysis, Porter's five forces, competitive landscape, and company profiles—all of which comprise and discuss views on the global polyvinyl alcohol    emerging and fast-growing segments, regions, and countries.


Objectives of the Study



  • To get a comprehensive overview of the global polyvinyl alcohol market

  • To get wide-ranging information about the key factors driving the market and market opportunities

  • To gain information regarding the key players in the industry, their product portfolio, strategies, and key developments

  • To gain insights about the key country/region in which the market is growing


Intended Audience



  • Industrial sector

  • Broadcast sector

  • Enterprise sector

  • Digital communication



Report Scope:

Report Attribute/Metric Details
  Market Size    2030: XX million
  CAGR   XX% CAGR (2022-2030)
  Base Year    2021
  Forecast Period    2022-2030
  Historical Data    2019
  Forecast Units    Value (USD Million)
  Report Coverage    Revenue Forecast, Competitive Landscape, Growth Factors, and Trends Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Type and End Use industry
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   KURARAY CO., LTD. (Japan), The Nippon Synthetic Chemical Industry Co., Ltd. (Japan), Sekisui Chemical Co., Ltd. (Japan), Merck KGaA (Germany), OCI Company Ltd. (South Korea), Anhui Wanwei Group Co., Ltd. (China), Chang Chun Group (Taiwan), Japan Vam & Poval Co., Ltd. (Japan), and China Petroleum & Chemical Corporation (China)
  Key Market Opportunities   Growing construction activities across the globe
  Key Market Drivers   Increasing demand for sustainable packaging


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