Polyvinylpyrrolidone Market Size

Market Size Snapshot

Note – Market size depicts the revenue generated over the financial year

The polyvinylpyrrolidone (PVP) market is expected to grow at a CAGR of 5.8 % from 2024 to 2032. This growth is due to the growing demand for PVP in various applications, especially in the pharmaceutical, cosmetics, and food industries. PVP's properties as a binder, stabilizer, and film former are increasingly recognized. The use of PVP in the cosmetics industry is increasing due to its versatility and effectiveness. Also driving growth is the development of new PVP derivatives and improvements in the production process. Strategic initiatives by leading companies such as BASF SE, Ashland Inc., and Kuraray Co., Ltd. to enhance their market position and meet the evolving needs of consumers are also driving growth. The market is expected to continue to grow as PVP's position as a key component in various industries is strengthened.

Regional Market Size

Regional Deep Dive

The Polyvinylpyrrolidone (PVP) market is characterized by its wide applications across various industries such as pharmaceuticals, cosmetics, and food and beverage. Each region has its own characteristics depending on the demand, the regulatory framework, and the economic conditions. Moreover, the rising trend of health and beauty care products, and the innovation of cosmetics and pharmaceutical products, have been driving the PVP market. Furthermore, the trend of sustainable development has been encouraging the manufactures to adopt environment-friendly products, which is expected to drive the market further.

Europe

• PVP is the market of the future. Europe, driven by its strong pharmaceutical and cosmetics industries, is the most important market. PVP is a component of most new drug formulations. PVP has been recommended for the formulation of new drugs by the European Medicines Agency (EMA).
• The sustainable development of PVP is also gaining in importance. Croda International has been developing bio-based PVP. It is expected that this shift to greener alternatives will change the competitive situation and attract consumers who are aware of the environment.

Asia Pacific

• PVP is a polymer that is widely used in a wide range of products, especially in the pharmaceutical and cosmetic industries. The major companies that produce it, Nippon Shokubai and Kuraray, are increasing their production capacity to meet the growing demand.
• Government initiatives aimed at boosting the pharmaceutical sector, such as India's Production-Linked Incentive (PLI) scheme, are expected to enhance the PVP market by encouraging local manufacturing and reducing dependency on imports.

Latin America

• Latin America is witnessing a growing interest in PVP, particularly in Brazil and Mexico, where the pharmaceutical and personal care sectors are expanding. Local companies are increasingly adopting PVP in formulations to enhance product performance.
• The region is also seeing a rise in regulatory scrutiny, with agencies like ANVISA in Brazil focusing on the quality of pharmaceutical ingredients. This trend is expected to drive demand for reliable and high-quality PVP products.

North America

• The North American PVP market is growing considerably as a result of the increasing demand for pharmaceutical excipients, especially in the formulation of oral and topical medicines. Companies such as Ashland and BASF are investing in R&D to further improve the performance of PVP in drug delivery systems.
• PVP is a product that is influenced by the regulatory changes, especially in the US regarding the approval of new drug formulations. These regulations, which are aimed at ensuring the safety and effectiveness of new drug formulations, are putting the manufacturers under pressure to meet the stricter regulations, thereby improving the quality of the product.

Middle East And Africa

• The Middle East and Africa are gradually emerging as a market for PVP, driven by the fast-growing pharmaceutical and cosmetic industries. In the United Arab Emirates, Merck Group is setting up a production base, which will further increase the capacity for PVP.
• Regulatory frameworks are evolving in the Middle East and Africa region. For example, Saudi Arabia has introduced stricter guidelines for the registration of pharmaceutical products. This has led to an increased demand for high-quality excipients such as PVP, as manufacturers seek to meet the new requirements.

Did You Know?

“Polyvinylpyrrolidone is not only used in pharmaceuticals but also in food processing as a clarifying agent, showcasing its versatility across different industries.” — International Journal of Food Science & Technology

Segmental Market Size

PVP is a major factor in the pharmaceutical and cosmetics industries and is currently undergoing steady growth. The growing need for excipients in pharmaceuticals and the growing popularity of PVP in cosmetics are the main drivers. PVP is used as a film-forming agent and as a solubilizer in personal care products. In addition, regulatory policies that favor the use of safe and effective ingredients in these two industries have increased their importance. PVP has reached a level of maturity in the industry. It is currently being manufactured and used mainly by BASF and Ashland. It is used mainly as a tablet binder, as an emulsion stabilizer and as a film-forming agent in hair care products. PVP is gaining in importance in the cosmetics industry as the trend for clean labeling and the growing importance of sustainability increases. PVP is also becoming increasingly popular as a film-forming agent in emulsions, which is why its use is growing in the food industry. In addition, new developments in polymer technology and the formulation of products are also driving the market forward.

Future Outlook

From 2024 to 2032, the polyvinylpyrrolidone (PVP) market is expected to rise from $1.69 billion to $2.64 billion, at a robust compound annual growth rate (CAGR) of 5.71%. The main reason for this growth is the widening scope of applications of PVP in many industries, such as the pharmaceutical, cosmetics, and food industries. The increasing demand for high-quality excipients in pharmaceutical formulations and the increasing use of PVP in personal care products will continue to drive the market, especially in emerging economies, where the health and beauty industries are developing rapidly. In addition, the key technology and policy support will also help to drive the market. PVP formulations, such as the development of more efficient and sustainable production processes, will further improve product performance and reduce their impact on the environment. Moreover, the increasing demand for safety and efficacy in pharmaceutical formulations, coupled with the increasingly stringent regulatory framework, will also increase the demand for PVP as a reliable excipient. PVP is a natural and non-toxic material, which has received increasing attention from consumers in recent years. It is a product of the development of the natural cosmetics industry and is used in various health and beauty products. In the future, as the industry develops, the technology develops, and the public's preferences change, the PVP market will grow rapidly.