Chicago, June 21, 2023 (GLOBE NEWSWIRE) -- The Polyvinyl Alcohol (PVOH) Market is projected to grow from USD 3.7 billion in 2023 to USD 5.0 billion by 2028, at a CAGR of 6.1% from 2023 to 2028, as per the recent study by MarketsandMarkets™. The polyvinyl alcohol market is mainly driven by the demand for polyvinyl alcohol in various end-use industries, including textiles, paper, adhesive and sealants, building and construction, medical and personal care and packaging among others, coupled with the concerns for the environmental impact. Moreover, it is also driven by rapidly developing and emerging economies such as India and China.
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Browse In-Depth TOC On "Polyvinyl Alcohol (PVOH) Market”
135 - Market Data Tables
60 - Figures
280 - Pages
List of Key Players in Polyvinyl Alcohol (PVOH) Market:
- Kuraray Co Ltd (Japan)
- Anhui Wanwei Group Co Ltd (China)
- Chang Chun Petrochemicals Co Ltd (Taiwan)
- Ningxia Dadi Circular Development Corp Ltd (China)
- Sinopec Sichuan Vinylon Works (China)
- Sekisui Specialty Chemicals (Japan)
- Mitsubishi Chemical Corporation (Japan)
- Japan Vam and Poval Co Ltd (Japan)
- Merck Kgaa (Germany)
- Wacker Chemie AG (Germany)
Drivers, Restraints, Opportunities and Challenges in Polyvinyl Alcohol (PVOH) Market:
- Drivers: Polyvinyl Butaryl(PVB) resin to drive the demand for PVOH market.
- Restraints: Environmental concerns may lead to stringent regulations.
- Opportunity: Medical applications to create new revenue pockets for the PVOH market
- Challenges: Technological advancement in end use industries.
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Key Findings of the Study:
- Partially hydrolysed is the largest type of polyvinyl alcohol in 2023, in terms of value.
- The cosmetic and personal care industry drive the demand for PVOH during the forecast period.
- Asia Pacific is expected to be the fastest growing market for polyvinyl alcohol during the forecast period, in terms of value.
Based on application, the Polyvinyl Alcohol market has been segmented into PVB Resin, Adhesive and Sealants, Textiles, Paper, Building and Construction, Packaging and Medical and Personal Care.
PVB Resin holds the major market share in value during the forecast period, it is a major component for PVB Films which are used in laminated safety glass. For polyvinyl butyral (PVB) resin, polyvinyl alcohol (PVA/PVOH) can also be utilized as a coating material and as a binder. Medical and Personal care applications will be the fastest growing PVOH applications, PVOH is frequently utilized in the medical industry for various applications like contact lens, it is also a primary component in wound dressings. PVOH also has various cosmetic and personal care applications.
Based on type, the Polyvinyl Alcohol market has been segmented into Fully Hydrolyzed Polyvinyl Alcohol, Partially Hydrolyzed Polyvinyl Alcohol and Polyvinyl Alcohol Hydrogels. Partially Hydrolyzed Polyvinyl Alcohol accounted for the largest share, in terms of value, of the global market in 2023.
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The degree of hydrolysis plays a significant role in determining the water resistance exhibited by partially hydrolyzed PVOH. With a decrease in the degree of hydrolysis, the polymer's water resistance increases.
Partially hydrolyzed PVOH offers a unique combination of characteristics, making it suitable for a wide range of applications. Partially hydrolyzed PVOH is utilized as a warp-sizing agent in the textile industry, providing adhesion and improving the weaving process. It imparts strength, flexibility, and smoothness to fibers. In paper manufacturing, partially hydrolyzed PVOH serves as a surface-sizing agent, enhancing the strength, printability, and water resistance of paper products. It also improves the retention of fillers and pigments. Partially hydrolyzed PVOH finds application in various personal care and cosmetic products. It is commonly used in hair sprays, mousses, and styling gels as a film-forming agent, offering hold, flexibility, and humidity resistance to hairstyles. The water-soluble nature of partially hydrolyzed PVOH makes it suitable for controlled-release applications. It can be employed as a carrier for active ingredients in agricultural products, such as fertilizers and crop protection formulations, ensuring gradual release and improved efficiency. Partially hydrolyzed PVOH serves as a binder in adhesive formulations for diverse applications. It provides excellent adhesion to different substrates, making it suitable for products like labels, tapes, and laminates. It is employed in construction materials, such as cement modifiers and tile adhesives. It improves workability, adhesion, and water resistance, enhancing overall performance.
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