Polyvinyl Alcohol (PVA) Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 6.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
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*Disclaimer: Major Players sorted in no particular order |
Polyvinyl Alcohol (PVA) Market Analysis
The Polyvinyl Alcohol (PVA) Market is projected to register a CAGR of over 6% during the forecast period.
The market was impacted by the COVID-19 outbreak in 2020. Polyvinyl alcohol is used in co-binder, optical brightener, and precise sizing at the press while manufacturing paper. The paper manufacturing sector was negatively affected due to the pandemic; considering the demand drop from various paper-consuming segments like newspapers, thus the market demand also decreased. However, the increasing packaging usage in the food industry significantly increased, stimulating the need for the polyvinyl alcohol market.
- Over the short term, increasing usage in the construction industry materials, including caulks and sealants, joint compounds like joint cement and drywall mud, and dispersible powders such as grouts and mortars, coupled with the expanding food packaging industry are expected to drive the market's growth.
- Hazardous health effects while manufacturing polyvinyl alcohol is hindering the market's growth.
- The growing opportunity in the electronics sector for manufacturing devices like a transistor, which needs high dielectric permittivity, is likely to act as an opportunity for the market in the coming years.
- Asia-Pacific dominated the global market, with the most significant consumption in countries such as India, China, etc.
Polyvinyl Alcohol (PVA) Market Trends
This section covers the major market trends shaping the Polyvinyl Alcohol (PVA) Market according to our research experts:
Food Packaging to Dominate the Market
- In the food packaging industry, PVA is used as a binding and coating agent, a film coating agent, in applications where moisture barrier or protection properties are required.
- PVA protects the active food ingredients from moisture, oxygen, and other environmental components, while simultaneously masking their taste and odor. It allows for easy handling of finished products and facilitates ingestion and swallowing. Furthermore, the viscosity of PVA provides for the application of the PVA coating agents to tablets, capsules, and other forms to which film coatings are typically applied at relatively high solids.
- Emerging demographic conditions, new customer demands, growing purchasing powers in emerging markets, increasing emphasis on sustainable, easy-to-use packaging, and out-of-home consumption trends are expected to drive the food packaging market in the future.
- The United States and China are among the most significant food packaging industry while emerging economies such as Africa are expected to register substantial growth through the forecast period.
- The food and beverage industry is essential to the US economy. E-commerce and delivery are also gaining popularity. With the high internet penetration rate and the rising demand for convenience, consumers are increasingly ordering groceries and other food products online.
- Services like Amazon Fresh are increasing, allowing consumers to shop for fresh produce without leaving the house. Moreover, in New York, bakery manufacturing accounts for most food and beverage processing plants, followed by wineries and animal slaughter and processing plants.
- The rising demand for organic food across the globe will also boost the consumption of food packaging. The United States is the largest consumer of packaged organic food. The country accounted for USD 21.3 billion in 2021, representing about 40% of the global market, with a per capita expenditure of USD 71.40.
- In 2021, food spending by US consumers, businesses, and government entities totaled USD 2.12 trillion, recovering from a sharp decline in 2020 in which the food market was disrupted by the COVID-19 pandemic and the recession in which food spending totaled USD 1.81 trillion.
- In September 2022, China produced approximately 11.6 million metric tons of processed paper and cardboard, up from 10.74 million metric tons in September 2021. This growth is attributed to the growing awareness about environmental protection and increasing packaging usage for recyclable food. The value is expected to grow in the coming years, thus leading to increased demand for the polyvinyl alcohol market.
- Therefore, the above factors are expected to impact the market in the coming years significantly.
China to Dominate the Asia-Pacific Region
- In Asia-Pacific, China is the largest economy in terms of GDP. In 2021, the country witnessed about 8.1% growth in its GDP, despite having trade disturbance caused due to its trade war with the United States.
- Globally, China dominated the PVA market with the country's growing construction and textile industry. China ranks at the top in the global textile manufacturing industry. In 2021, China's exports of textiles, apparel, and clothing accessories increased to USD 189.3 billion in the first seven months of 2022, registering a growth rate of 17.35% year-on-year, and garments and clothing accessories export reached USD 99.6 billion, which was 18.5% higher than the same period of last year. Therefore, this significantly enhanced the market's growth for polyvinyl alcohol.
- The textile industry in China is going through a tough restructuring, with enormous production capacity, oversupply at home, high labor costs, and rising global protectionism, which eroded its competitiveness. Still, the country continues to dominate, both in the textile manufacturing industries and continue being the major exporter of textiles through the years to come.
- In January 2022, China produced about 5.7 billion m of clothing fabric and reached 3.81 billion m in October 2022, with consistent production above three billion m throughout 2022, which impacted the market demand for the polyvinyl alcohol (PVA) market.
- The Chinese food packaging industry is expected to register significant growth, owing to the rising health and wellness consciousness, expanding middle-class population, and rising consumer purchasing power.
- The construction industry is expanding significantly, with the country expected to be among the top contributors to global construction spending (along with the United States and India) through 2023.
- Therefore, the above factors are expected to impact the market in the coming years significantly.
Polyvinyl Alcohol (PVA) Industry Overview
The polyvinyl alcohol (PVA) market is fragmented in nature. Some significant players include Sekisui Chemical Co. Ltd, Mitsubishi Chemical Corporation, SNP Inc., Merck KGaA, and Kuraray Europe GmbH, among others (not in any particular order).
Polyvinyl Alcohol (PVA) Market Leaders
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Sekisui Chemical Co. Ltd
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SNP, Inc.
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Merck KGaA
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Kuraray Europe GmbH
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Mitsubishi Chemical Corporation
*Disclaimer: Major Players sorted in no particular order
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Polyvinyl Alcohol (PVA) Market News
- August 2022: Sekisui Specialty Chemicals (SSC) began the feasibility studies for expanding its Polyvinyl Alcohol (PVOH) supply network to meet the growing needs of its downstream customers. It will increase Sekisui's PVOH capacity by as much as 25%.
- November 2021: Kuraray Poval started its new sales organization in Iberia. The company will handle the sales and marketing of PVOH and Kuraray-derived products, including Poval, Elvanol, Exceval, and Mowiflex. The company aims to be close to its customers and offer its products and services.
Polyvinyl Alcohol (PVA) Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Drivers
4.1.1 Increasing Use in the Construction Industry
4.1.2 Growing Food Packaging Industry
4.2 Restraints
4.2.1 Hazardous Health Effects While Manufacturing
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size in Value)
5.1 Grade
5.1.1 Fully Hydrolyzed
5.1.2 Partially Hydrolyzed
5.1.3 Sub-partially Hydrolyzed
5.1.4 Low Foaming Grades
5.1.5 Other Grades (Tactified Grades and Fine Particle Grades)
5.2 End User
5.2.1 Food Packaging
5.2.2 Paper Manufacturing
5.2.3 Construction
5.2.4 Electronics
5.2.5 Textile Manufacturing
5.2.6 Other End User Industries
5.3 Geography
5.3.1 Asia-Pacific
5.3.1.1 China
5.3.1.2 India
5.3.1.3 Japan
5.3.1.4 South Korea
5.3.1.5 Rest of Asia-Pacific
5.3.2 North America
5.3.2.1 United States
5.3.2.2 Canada
5.3.2.3 Mexico
5.3.3 Europe
5.3.3.1 Germany
5.3.3.2 United Kingdom
5.3.3.3 Italy
5.3.3.4 France
5.3.3.5 Rest of Europe
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle-East and Africa
5.3.5.1 Saudi Arabia
5.3.5.2 South Africa
5.3.5.3 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%)**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Anhui Wanwei Group
6.4.2 Astrra Chemicals
6.4.3 Chang Chun Group
6.4.4 Japan Vam & Poval Co. Ltd
6.4.5 Kemipex
6.4.6 Kuraray Europe GmbH
6.4.7 Merck KGaA
6.4.8 Mitsubishi Chemical Corporation
6.4.9 Polysciences Inc.
6.4.10 Sekisui Chemical Co. Ltd
6.4.11 SNP Inc.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Growing Opportunity in the Electronics Sector
Polyvinyl Alcohol (PVA) Industry Segmentation
Polyvinyl alcohol (PVA) is a colorless, hydrophilic water-soluble synthetic polymer and poses effective film-forming and adhesive properties. It is manufactured by polymerizing vinyl acetate monomer, followed by hydrolysis, and finds its application in various end-user industries like paper, food packaging, textiles, etc. The polyvinyl alcohol (PVA) market is segmented by grade, end user, and geography. The market is segmented by grade: fully hydrolyzed, partially hydrolyzed, sub-partially hydrolyzed, low foaming grades, and other grades. By end user, the market is segmented into food packaging, paper manufacturing, construction, electronics, textile manufacturing, and other end users. The report also covers the market size and forecasts for the polyvinyl alcohol market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done based on value (USD million).
| Grade | |
| Fully Hydrolyzed | |
| Partially Hydrolyzed | |
| Sub-partially Hydrolyzed | |
| Low Foaming Grades | |
| Other Grades (Tactified Grades and Fine Particle Grades) |
| End User | |
| Food Packaging | |
| Paper Manufacturing | |
| Construction | |
| Electronics | |
| Textile Manufacturing | |
| Other End User Industries |
| Geography | |||||||
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Polyvinyl Alcohol (PVA) Market Research FAQs
What is the current Polyvinyl Alcohol (PVA) Market size?
The Polyvinyl Alcohol (PVA) Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)
Who are the key players in Polyvinyl Alcohol (PVA) Market?
Sekisui Chemical Co. Ltd , SNP, Inc., Merck KGaA, Kuraray Europe GmbH and Mitsubishi Chemical Corporation are the major companies operating in the Polyvinyl Alcohol (PVA) Market.
Which is the fastest growing region in Polyvinyl Alcohol (PVA) Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Polyvinyl Alcohol (PVA) Market?
In 2024, the Asia Pacific accounts for the largest market share in Polyvinyl Alcohol (PVA) Market.
What years does this Polyvinyl Alcohol (PVA) Market cover?
The report covers the Polyvinyl Alcohol (PVA) Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Polyvinyl Alcohol (PVA) Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Polyvinyl Alcohol Industry Report
Statistics for the 2024 Polyvinyl Alcohol market share, size and revenue growth rate, created by Mordor Intelligenceā¢ Industry Reports. Polyvinyl Alcohol analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
