Polyvinyl Alcohol (PVA) Market Research Report - Forecast to 2030

Polyvinyl Alcohol (PVA) Market Research Report By Grade (Partially Hydrolyzed, Fully Hydrolyzed), By End-Use Industry (Food Packaging, Textile, Paper, Medical, Construction, Electronics) - Forecast till 2030

ID: MRFR/CnM/4364-CR | February 2021 | Region: Global | 100 pages

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

  • 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

  • Growing Demand for Bio-Based PVA Products to Boost the Market Growth
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Polyvinyl Alcohol (PVA) Market Overview


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.


Polyvinyl alcohol is a colourless and water-soluble synthetic material. It is a type of polymer that is useful for many purposes. It comes with exceptional performance and adhesion capabilities. The production of polyvinyl alcohol is unique. Polymerizing vinyl and hydrolyzing are common techniques in the market. This chemical is used in several sectors such as paper, food packaging, and textiles. 


The market for polyvinyl alcohol has three major segments. The polyvinyl alcohol is diversified by grade, end-user, and region. The small amount of this chemical in detergents. Also, this chemical is used widely in water treatment chemicals and agrochemicals. Today, most of the dyes contain possible polyvinyl alcohol films. These chemicals and polyvinyl particles are biodegradable that is used for applications. Cleansing water is possible through the use of these chemicals.


Further, Polyvinyl alcohol film is prevalent in laundry bags and embroidery packages. It is a sector that is water-soluble. Paper packaging is gaining more traction in recent years. It is the sector that accounts for 40% of all packaging material. Countries such as China use these packages more. Rising environmental awareness of recyclable packages is rising. This increased the use of polyvinyl alcohol adoption. There are more than 15 countries across the globe having a high demand for this product. All these factors will contribute to high polyvinyl alcohol market value. 


Covid analysis 


Covid-19 has had a damaging impact on many industries since 2020. Polyvinyl alcohol is used in paper manufacture as a co-binder and optical bonding agent. The pandemic has adverse impact on the paper production industry. Various paper-consuming segments such as newspapers have a declining market demand. However, the use of packaging in the food industry has increased. Demand for polyvinyl alcohol is increasing in some regions.


In the short term, rising demand for caulks and sealants in the construction sector as less use of polyvinyl. Like any other market, the polyvinyl alcohol market is facing plenty of losses in this period. Supply chain disruptions are huge that affects the growth rate. In the forecast period, the declining growth trend will continue. However, there is high scope for development in post covid 19 scenarios. By 2021, there is an increase in demand and supply of the product. The adoption rate is expected to surge further. 


Market dynamics 



  • Crucial market drivers 


The rising demand for bio-based polyvinyl alcohol is a crucial driver. During the forecast period, there is surging demand for bio-based PVA products. This rising demand will enhance the Polyvinyl Alcohol (PVA) Market revenue. PVA is widely used for a variety of industrial purposes. Especially electronics, coatings, textiles, and the cosmetic market have increased use. During the forecast period, the food packaging industry and the construction sector are expected to contribute to increasing the Polyvinyl Alcohol demand.


 Furthermore, there are strict restrictions in several countries to use bio products. Due to this sustainable product packaging is gaining traction. There is great scope for the market in the next few years. Especially fit is used as a binding and coating agent in the food packaging sector. It is utilized as a film coating agent in applications due it its moisture resistance and other exceptional features. 


PVA protects the active food ingredients from moisture, oxygen, and other elements. It stops factors that can affect flavour and odour. It makes ingesting and swallowing effortless. Furthermore, because of its low viscosity PVA coating agents are used on many products. It is applied to tablets, capsules, and other forms where film coatings. These entire crucial drivers polyvinyl alcohol industry.



  • The market growth opportunities 


Growing demand for bio-based polyvinyl will create exceptional market growth opportunities. There are plenty of components in synthetic polyvinyl that can harm the environment. However, bio-based alternatives are gaining high traction in the market. The awareness about polyvinyl alcohol is high among many end-users. Many key industries are rapidly adapting to these organic chemicals. The emergence of bio-based polyvinyl will create exceptional developments. Demand from the emerging markets will create high growth. Especially, the polarizer application has a high need among the end-users. 


In the case of polarizer application, the polyvinyl alcohol film is used to manufacture polarizer film which is used in LCD panels, lenses and optical filters etc. LCD panels hold a 95% consumption share of global polarizer production. The market of polyvinyl alcohol film is widely used for LCD panel based polarizer film.


Also, monopolizes are gaining more demand among the Japanese manufacturers. Key companies have their production plants in Japan. In recent years, they are increasing their production due to high investments. Developing manufacturers manufacturing facilities are present in countries such as South Korea, Japan, Taiwan or Japan. The demand from these emerging markets is creating exceptional polyvinyl alcohol market growth. 



  • The market restraints 


The toxicity of polyvinyl alcohol will act as a market restraint. The Polyvinyl Alcohol Market Growth is expected to be declined due to toxic waste generation. PVA products have adverse impact on human health over the projected period. They are not suitable for many countries. They can pollute the environment and cause side effects in many individuals. The production facilities of the market are facing many restrictions due to the release of toxins. 



  • The market challenges 


Stringent governmental regulations are significant challenges in the market. PVA production restrictions are major factors hampering growth. In many regions, consumption and production have high restrictions. Various rules and the need to abide by may reduce the expansions.


Further, high raw materials price is another crucial driver of this market. The raw materials for the product are growing. Due to covid 19, there are high fluctuations in the raw material price. These market challenges can affect the profitability of this market. All these factors can reduce the supply rates of this market. 



  • Cumulative growth analysis


The polyvinyl alcohol market trends are stable for the forecast period. Water-soluble applications of the market will witness high demand among the end-users. Ease of use in detergents another water-soluble ap0plciation will cause this growth. The growing demand for bio-based polyvinyl will create exceptional growth.


The rising features of polyvinyl alcohol application will create more demand. Polarizing market applications will have high popularity among end-users. However, stringent government rules and environmental harm can affect growth. Still, growth opportunities of the market lead to a substantial surge in the demand. 



  • Value chain analysis 


The Asia Pacific is the leading regional player with Polyvinyl Alcohol Market Share. Polyvinyl alcohol films for water-soluble applications have large scale big quantities in Asia-Pacific. It is the first region before North America to have the highest consumption of this product. Asia- Pacific's shares are estimated as 60%. Asia-Pacific has the fastest growth.


As the region's PVA film consumption is expected to expand at an exponential pace. In the next five years, demand is massive. The majority of polyvinyl alcohol film is used for package detergents and agrochemicals. The Asia Pacific is the greatest consumer of agrochemical packaging. Water treatment chemical packaging, needlework, and washing bags are other water-soluble applications in the market. 


Segment overview 


Polyvinyl Alcohol Market by Grade



  • Partially Hydrolyzed

  • Low Foaming Grades

  • Sub-partially Hydrolyzed

  • Fully Hydrolyzed

  • Certified Grades 

  • Fine Particle Grades


Polyvinyl Alcohol Market by End User



  • Food Packaging

  • Printing

  • Construction

  • Electronics

  • Paper Manufacturing

  • Textile Manufacturing

  • Medical


By Geography



  • Asia-Pacific

  • China

  • India

  • Japan

  • South Korea

  • Rest of Asia-Pacific


North America



  • Mexico

  • United States

  • Canada


Europe



  • Germany

  • United Kingdom

  • Italy


Competitive landscape 


The competition in the polyvinyl market is facing high competition. The competition is rising due to a wide range of expansions, mergers, collaborations and partnerships in the market. 


Regional analysis 


The regional players of the polyvinyl alcohol market are fragmented into Asia Pacific, Europe and North America. The Asia Pacific is expected to lead the Polyvinyl Alcohol Market during the forecast period. Due to rising industrialization growth of the market is high. The food and beverage industry is another key end-user of the market. Also, the cosmetics business is expected to contribute to the market's growth. Another important factor that is predicted to boost growth is the growing adoption of bio-based polyvinyl alcohol. Due to the rising demand for the product as a polymerization aid, the demand in North America is massive. Furthermore, the rising demand for bio-based PVA products is expected to be a major contributor to growth. Also, the exceptional features of PVA are expected to boost overall revenue in this market. 


The key players in polyvinyl alcohol market are 



  • 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


Recent Developments


October 2021- the prominent player in professional 3D printing, Ultimaker, disclosed at an inaugural bi-annual Showcase event of its own that the firm is willing to add a professional PVA Removal Station to the company's Ultimaker Platform. On top of the company's materials, software, printers, and customer support, this latest PVA Removal Station implies that 3D printers can build prototypes faster. Users can rapidly bring their products to market, boosting the overall product building procedure.

September 2021-
Emballator, the packaging solutions manufacturer, announced the launch of its latest water-soluble packaging obtained from polyvinyl alcohol (PVOH) that can easily dissolve post its use in a move to lower plastic waste.
PVOH refers to a polymer with a hydrogen, carbon, and oxygen base, which dissolves when it comes to contact with water. Emballator said that this polymer could be transformed into carbon dioxide and water by bacterial microorganisms in the environment.

November 2020
-
A new magnetic spray, which is made of polyvinyl alcohol, gluten, and iron particles, can turn objects into robots that can be controlled by magnets. As per the experts, the innovation could be used to deliver drugs to the body.


October 26, 2018
-KURARAY POVAL, the world's largest polyvinyl alcohol manufacturer is extending its reach to new markets by the launch of products such as MOWIFLEX and customer-specific solutions. KURARAY POVAL, has added capacity by acquiring regional companies in the U.S. which will serve the expanding customer base. KURARAY POVAL, has taken a customer centric strategy by providing customised products so as to strengthen its position and develop a close relationship by integrating customers in its manufacturing process. The company is tapping the high premium and demand for products tailored to specific applications and is developing products with individual properties, exemplified by MOWIFLEX 3D 2000 which is engineered for 3D printing.

Report overview 



  1. Market overview highlights 

  2. Analysis based upon COVID 19

  3. Explanation upon the Market Dynamics

  4. Value chain analysis

  5. Market segmentation overview

  6. The regional analysis



Report Scope:
Report Attribute/Metric Details
  Market Size   2030: USD 1,986.3 Million
  CAGR   4.76% (2021–2030)
  Base Year   2019
  Forecast Period   2021-2030
  Historical Data   2018
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   By Grade, End-Use Industry and Region
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Merck KGaA,OCI COMPANY Ltd.,The Nippon Synthetic Chemical Industry Co., Ltd,Sekisui Chemical Co., Ltd.,KURARAY CO., LTD.,Anhui Wanwei Group.,Chang Chun Group.,Japan Vam & Poval Co.,Ltd.,China Petroleum & Chemical Corporation
  Key Market Opportunities   Electronics Sector to Offer Significant Opportunity to Expand the Market
  Key Market Drivers   Growing Demand for Bio-Based PVA Products to Boost the Market Growth


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Frequently Asked Questions (FAQ) :

The global polyvinyl alcohol market size can touch USD 1,986.3 million by 2030.

The global polyvinyl alcohol market stood at USD 1300 million in 2016.

The global polyvinyl alcohol market is expected to expand at 4.76% CAGR from 2021 to 2030.

By ‘grade’, partially hydrolyzed polyvinyl alcohol can dominate the global polyvinyl alcohol market and fetch returns at 4.93% CAGR from 2021 to 2030

The Nippon Synthetic Chemical Industry Co., Ltd., KURARAY CO., LTD., OCI COMPANY Ltd., China Petroleum & Chemical Corporation, Sekisui Chemical Co., Ltd., Merck KGaA, Chang Chun Group, Japan Vam & Poval Co., Ltd., and Anhui Wanwei Group are key players of the global 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.