Dublin, July 17, 2023 (GLOBE NEWSWIRE) -- The "Global Polyvinyl Alcohol (PVOH) Market by Type (Fully hydrolyzed, partially hydrolyzed, PVOH hydrogels), application(PVB Resin, Adhesives and sealants, Textile, Paper, Builllding & construction, Packaging), and Region - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The polyvinyl alcohol market is projected to reach USD 5.0 billion in 2028 at a CAGR of 6.1%
This report segments the market for polyvinyl alcohol market on the basis of type, application, and region. It provides estimations for the overall value of the market across various regions. A detailed analysis of key industry players has been conducted to provide insights into their business overviews, products & services, key strategies, new product launches, expansions, and mergers & acquisitions associated with the market for polyvinyl alcohol market.
The increasing use of polyvinyl alcohol in processing different industries drives the market. In addition, for the production of personal care products, particular grades of polyvinyl alcohol are used. PVOH can be found in everyday products that enhance personal hygiene. PVOH offers excellent moisturizing effects on hair and skin, which is why it is utilized in a number of personal care products such shampoos, conditioners, and hair gels.
When used in different skincare products like moisturizers and cleansers, polyvinyl alcohol improves the delivery of active substances. By permitting rapid skin penetration through the skin without creating allergies or irritation, it enhances the effectiveness of each ingredient. Additionally, it has a binding effect on hair color and peel-off masks, and it strengthens the adhesion of tight-grip cosmetics.
Partially hydrolyzed is expected to be the fastest-growing type of polyvinyl alcohol in the market during the forecast period, in terms of value
In the adhesive industry, partially hydrolyzed PVOH is utilized in the formulation of adhesives that require a balance between water resistance and adhesive strength. These adhesives find use in applications such as wood bonding and packaging. Partially hydrolyzed PVOH is also utilized in the production of coatings and films that necessitate water resistance.
Additionally, the textile industry finds value in partially hydrolyzed PVOH for applications like warp sizing and fiber treatments, as it provides desired levels of water resistance and adhesion properties. These factors are driving its demand in the Polyvinyl alcohol market.
Based on region, Asia Pacific was the largest market for polyvinyl alcohol in 2023, in terms of value
Asia Pacific is the largest and fastest-growing market for polyvinyl alcohol. The market for this region is segmented into four regions China, Japan, India, South Korea, and the Rest of Asia Pacific Region.
The Asia Pacific area has one of the largest Polyvinyl Alcohol markets, with China, Japan, and India being the key consumers. This can be linked to the region's rapid development and rising consumer demand. Industries like packaging, building, and textiles boost Polyvinyl Alcohol demand in the Asia Pacific region.
Asia Pacific regions are also generating a lot of waste, it produces more than half of the world's plastic waste. Compared to other plastics Polyvinyl Alcohol has a higher sustainability factor and is biodegradable. This is also leading to its application in various industries. Several countries in the Asia-Pacific region have implemented policies and initiatives to promote sustainability and environmentally friendly practices.
PVOH, with its water-soluble and biodegradable characteristics, aligns with these initiatives and regulations. The support from governments and the growing awareness of sustainable materials are encouraging the adoption of PVOH in various applications. The Asia - Pacific region has a substantial agricultural sector that places emphasis on improving agricultural productivity and crop yields.
Partially hydrolyzed PVOH serves as a carrier for controlled-release agricultural products, including fertilizers and crop protection formulations. The emphasis on efficient and sustainable agricultural practices is driving the demand for PVOH in the region.
The Asia - Pacific region is experiencing substantial industrialization and economic growth, leading to increased demand for PVOH in sectors such as textiles, packaging, paper, adhesives, and construction. This growing industrial sector is driving the demand for PVOH-based products and applications, fostering market growth.
In the process of determining and verifying the market size for several segments and subsegments identified through secondary research, extensive primary interviews were conducted.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 202 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $3.7 Billion |
| Forecasted Market Value (USD) by 2028 | $5 Billion |
| Compound Annual Growth Rate | 6.1% |
| Regions Covered | Global |
Premium Insights
- Increasing Demand from Various Application Segments to Drive Market
- Pvb Resin to be Largest Application of Polyvinyl Alcohol During Forecast Period
- Partially Hydrolyzed Type to Account for Largest Market Share During Forecast Period
- Asia-Pacific to Register Highest CAGR in Polyvinyl Alcohol Market During Forecast Period
- Fully Hydrolyzed Polyvinyl Alcohol to be Fastest Growing Segment During Forecast Period
- Medical & Personal Care to be Fastest Growing Application During Forecast Period
Market Dynamics
Drivers
- Increasing Demand from Polyvinyl Butyral (Pvb) Application
- Growing Demand from Textile Industry
- Growth of the Packaging Industry Owing to Rapidly Growing E-Commerce Industry
- Rising Applications in Paper Industry
- Cosmetics & Personal Care Industry to Drive Demand
Restraints
- Moisture Sensitivity and Limited Chemical Compatibility
- Stringent Regulations on Use of Pvoh in Detergents due to Environmental Concerns
Opportunities
- Emerging Applications in Medical Industry to Create New Revenue Pockets
Challenges
- Fluctuating Raw Material Prices Affecting Profitability of Manufacturers
- Technological Advancement in End-use Industries
Supply Chain Analysis
- Raw Material Sourcing
- Pvoh Manufacturing
- Packaging and Distribution
- Application in End-use Industries
Company Profiles
Key Players
- Kuraray Co. Ltd.
- Sekisui Specialty Chemicals
- Sinopec Sichuan Vinylon Works
- Mitsubishi Chemical Corporation
- Japan Vam and Poval Co. Ltd.
- Chang Chun Petrochemical Co. Ltd.
- Anhui Wanwei Group Co. Ltd.
- Merck KGaA
- Denka Company Ltd.
- Wacker Chemie AG
- Ningxia Dadi Circular Development Corp. Ltd.
Other Key Players
- Hefei Tnj Chemical Industry Co. Ltd.
- Tokyo Chemical Industry Co. Ltd (TCI Chemicals)
- Astrra Chemicals
- Inner Mongolia Shuangxin Environment-Friendly Material Co. Ltd.
- Synthomer PLC
- Pon Pure Chemicals Group
- Alfa Aesar
- Easthony
- Snp, Inc.
- Spectrum Chemical Manufacturing Group
- Quindao Sanhuan Colorchem Co. Ltd.
- Shanghai Chemex Group Ltd.
- Harex
- Liwei Chemical Co. Ltd.
- Tang Zhi Technology (Hebei) Co. Ltd.
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