The Polyvinyl Alcohol Market is predicted to touch USD 1,769.2 million at a 4.59% CAGR over the forecast period (2018-2023), states the new Market Research Future (MRFR) report. Polyvinyl Alcohol or PVA, simply put, is a synthetic polymer that has good hydrophilicity, biodegradability, and biocompatibility, thus finds applications in various fields including coatings, textiles, paper, food packaging, construction, and pharmaceuticals, amid others. High abrasion and chemical resistance, high tensile strength, non-toxicity, biocompatibility, non-carcinogenicity, water solubility, and biodegradability are some of its key characteristics.
Various factors are propelling the Polyvinyl Alcohol Market Growth. These factors in accordance to the MRFR report, include extensive use in various end use industries including pharmaceuticals, paper, construction, textiles, coatings, and food packaging, growing demand for packaged food, increasing scrutiny on plastic consumption, initiatives undertaken by the government and other environmental regulatory bodies to use biodegradable plastics, and its growing demand as dispersing and emulsifying agent. Additional factors boosting market growth include growing constructional activities, rising disposable income, consumer preference for eco-friendly goods, waste disposal and management, and growing hygiene consciousness.
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On the contrary, stringent regulations and fluctuations in the price of raw materials are factors that may hamper the Polyvinyl Alcohol Market growth over the forecast period.
The MRFR report provides a complete Segmental Analysis of the Polyvinyl Alcohol Market based on End Use Industry and Grade.
Based on Grade, the Polyvinyl Alcohol Market is segmented into fully hydrolyzed and partially hydrolyzed. Of these, the partially hydrolyzed segment will have the largest share in the market over the forecast period. This is owing to its alluring features such as high-water solubility and low viscosity.
Based on End Use Industry, the Polyvinyl Alcohol Market is segmented into electronics, construction, medical, paper, textile, and food packaging. Of these, the packaging industry will dominate the market over the forecast period. This is owing to growing awareness about sustainable packaging and increasing scrutiny on traditional packaging.
By Region, the Polyvinyl Alcohol Market Report covers the latest trends and growth opportunities across Europe, North America, Latin America, the Asia Pacific, and the Middle East and Africa. Of these, the APAC region will spearhead the market over the forecast period. This is owing to high demand from various end-use industries, rapid industrialization, urbanization, and towering constructional activities. Moreover, the presence of several Polyvinyl Alcohol producers in the region and growing demand in the textile industry is also boosting the market growth.
The Polyvinyl Alcohol Market in Europe is predicted to have the second-largest share in the market over the forecast period. This is owing to its heightened demand for sustainable packaging materials. It is predicted to touch USD 394.6 million by end of 2023. Growing preference for biodegradable packaging over traditional packaging material on the backdrop of strict regulations in this region is also boosting the market growth.
The Polyvinyl Alcohol Market in North America is predicted to have significant growth over the forecast period. This is owing to rising geriatric population and growing demand for anti-aging cosmetics.
The Polyvinyl Alcohol Market in the Middle East and Africa, and Latin America are predicted to have moderate growth during the forecast period due to expanding Polyvinyl Alcohol Industry.
Leading players profiled in the polyvinyl alcohol market report include Japan Vam & Poval Co., Ltd., Sekisui Chemical Co., Ltd., OCI COMPANY Ltd., China Petroleum & Chemical Corporation, Chang Chun Group., KURARAY CO., LTD., The Nippon Synthetic Chemical Industry Co., Ltd., and Merck KGaA.
September 2019: Professor Sandra Pascoe Ortiz, a Mexican scientist at the University of Valle de Atemajac has come up with a new form of sustainable, biodegradable plastic from cactus juice. Made with nopal cactus leaves and non-toxic additives, this plastic when submerged in water will degrade in a few days and after sitting in the soil will degrade within a month. This mixture is eco-friendly, thus can be digested safely by humans as well as animals.
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