Dublin, July 26, 2023 (GLOBE NEWSWIRE) -- The "Polyvinylpyrrolidone Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023-2028)" report has been added to ResearchAndMarkets.com's offering.
The polyvinylpyrrolidone market is estimated to witness significant growth, reaching around 75,850 tons by the end of 2023, and is expected to register an impressive CAGR of over 7.5% during the forecast period.
Key Highlights:
- Rising Demand in the Pharmaceutical Industry: Polyvinylpyrrolidone (PVP) finds extensive applications in the medical and health fields as a binder, excipient, coating agent, cosolvent, sterilization disinfectant, and more, thanks to its exceptional solubility, bonding capacity, complexing power, and biocompatibility. The pharmaceutical industry has been a major beneficiary of PVP's properties, resulting in growing global demand for the compound.
- Presence of Substitute Products as a Market Restraint: The polyvinylpyrrolidone market faces challenges due to the availability of substitute products. However, the growing application scope in the personal care and cosmetic industry offers potential opportunities for market growth.
- Asia-Pacific Dominates the Market: The Asia-Pacific region is poised to maintain its dominance in the polyvinylpyrrolidone market during the forecast period. China, India, and Japan are experiencing increasing demand for PVP, particularly in the pharmaceutical industry. China, being the world's largest producer of pharmaceutical ingredients, and India's projected healthcare sector growth to reach USD 372 billion by 2022, are driving factors for the PVP market in the region.
The report mentions several key players in the polyvinylpyrrolidone market, including Alfa Aesar, Thermo Fisher Scientific, Ashland, BASF SE, Boai NKY Pharmaceuticals Ltd, Glide Chem Private Limited, Hangzhou Motto Science & Technology Co. Ltd, Huangshan Bonsun Pharmaceuticals Co. Ltd, Jarchem Innovative Ingredients LLC, JH Nanhang Life Sciences Co. Ltd, Nippon Shokubai Co. Ltd, Shanghai Qifuqing Material Technology Co. Ltd, Shanghai Yuking Water Soluble Material Tech Co. Ltd, and Zhangzhou Huafu Chemical Co. Ltd.
The "Polyvinylpyrrolidone Market - Growth, Trends, and Forecasts (2023-2028)" report provides valuable insights into the market dynamics, drivers, restraints, and regional trends, offering essential information for investors and industry stakeholders.
For more information about this report visit https://www.researchandmarkets.com/r/9w9zyc
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