Worldwide polyvinyl alcohol market is expected to reach a valuation of US $1.39 billion by the end of 2026, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2018-2026.
For the uninitiated, PVA is a recyclable polymer with different properties based on the degree of hydrolysis and polymerization. PVA holds huge significance in the market due to its large number of end-use applications like sizing agents in textiles, pigment binder in the paper, polymerization aids, adhesives, and others. Another key application for the product consists of its conversion to polyvinyl butyral, which is commonly used in automotive and architectural sector.
Biodegradability is the most important aspect that has boosted the demand for PVA throughout the world. Owing to this factor, the product is highly preferred for green construction products and biodegradable packaging. Increasing awareness and consumers’ growing preference for healthy food packaging primarily drives the polyvinyl alcohol (PVA) market across the globe. PVA is capable of biologically degrading in the microbial environment and has high resistance to moisture, which a significant feature accelerating the demand for advanced environment friendly PVA.
Another key growth factor supporting the polyvinyl alcohol (PVA) market is the increasing imposition for supportive regulatory guidelines and principles for effective waste disposal with no harmful environmental impact. Regulatory bodies such as the National Institute of Occupational Safety and Health (NIOSH) and the European Chemical Agency (ECHA) have specified the concentration levels of PVA to maintain a toxic-free environment.
The textile industry and polymerization aids are the most significant end-uses for PVA followed by green construction materials. In addition, manufacturing technology has been improved from the standpoint of the scale of production, quality, safety, and environment. Polyvinyl alcohol is manufactured from vinyl acetate monomer, that has an over-supplied market with divergence in the production of various vinyl-based polymers, which differ based on regions.
In terms of regional performance, Asia Pacific polyvinyl alcohol (PVA) market is the largest in the world with China being the leading producer. Over the next five years, the country is anticipated to observe decent growth in the PVA industry, owing to steady growth in fiber market, however, the progress will be slower as opposed to the last five years. Meanwhile, the U.S is another developed polyvinyl alcohol (PVA) market due to the profuse production of polyvinyl butyral resin, that is produced from PVA, cites the study.
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Furthermore, Western Europe also encompasses significant markets for PVA primarily due to high polyvinyl butyral resin demand. The new applications for polyvinyl alcohol in this region comprise ceramic binders and biodegradable thermoplastic polymers, whereas the conventional applications are expected to recover and grow.
The competitive landscape of the global polyvinyl alcohol (PVA) market encompasses eminent players such as Nippon Synthetic Chemical Industry Co., Eastman Chemical Company, Dow Dupont, Sinopec Sichuan Vinolyn, Sigma-Aldrich, Kuraray Co. Ltd, and Anhui Wanwei Group Co., Ltd.
The report also delivers a comprehensive analysis of the polyvinyl alcohol (PVA) market drivers, restraints, and opportunities over the estimated timeline. An in-depth analysis of the market in terms of grade type, application type, and regional landscape is also included in the report. In addition to this, company profiles of market majors have been documented in the report under business overview, product benchmarking, financials, and recent developments.