Global Polyvinyl Alcohol Market Forecast to 2023 with Production and Consumption Analysis
Market Overview
Polyvinyl Alcohol (PVA) is categorized as partially hydrolyzed and fully hydrolyzed. Partially hydrolyzed PVA is widely used for food packaging due to biodegradability, moisture resistance, and its cross-linking properties. Furthermore, the increasing use of PVA in food supplements is likely to propel the market growth. PVA also finds application in end-use industries such as textile, paper, pharmaceuticals, and construction among others. It is extensively used in textile industry as warp sizing agent due to abrasion resistance, high tensile strength, colorfastness, and flexibility exhibited by the product. Growing textile and apparel industry coupled with changing fashion trends and increasing purchasing power is stimulating the product demand. Due to its non-toxicity and biocompatibility, it is increasingly used in the healthcare industry for manufacturing contact lenses, drug delivery, tissue engineering, and wound dressing. The use of PVA in coating industry as a result of superior strength is further driving the market growth.
Competitive Analysis
Some of the prominent players in the Global Polyvinyl Alcohol Market are Sekisui Chemical Co, Ltd (Japan), The Nippon Synthetic Chemical Industry Co., Ltd (Japan), Merck KGaA (Germany), Anhui Wanwei Group (China), SNP, Inc. (U.S.), Kuraray Co., Ltd (Japan), Polysciences, Inc (U.S.), Polychem(Mumbai), Astrra Chemicals (India), Japan Vam and Poval Co., Ltd (Japan).
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Market Segmentation
The Global Polyvinyl Alcohol Market is segmented into segmented into grade, end-use industry, and region.
On the Basis of Grade, the Global Polyvinyl Alcohol Market is bifurcated into partially hydrolyzed and fully hydrolyzed.
Based on Application, the Global Polyvinyl Alcohol Market is segmented into food packaging, textile, paper, medical, construction, and electronics.
Geographically, the market is divided into five key regions, including Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.
Regional Analysis
Asia Pacific region is growing at a staggering rate as a result of changing packaging trends in the cosmetics, and food & beverage industries. Rising use of biodegradable material by packaging industry in order to prevent pollution through landfills causing a negative impact on the environment and human health is fueling the market demand of the product. Rising construction industry as a result of growing population and improving standard and quality of living is likely to propel the market growth.
North America and Europe region are witnessing significant growth for Polyvinyl Alcohol owing to rising demand for flexible packaging. Moreover, targets set for recycling the plastic waste in order to reduce the environmental issues in these region are driving the market growth.
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