Market Size of Polyvinylpyrrolidone Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 8.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia-Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Polyvinylpyrrolidone Market Analysis
The global polyvinylpyrrolidone market is estimated to be at 80,562.98 tons by the end of this year and is projected to reach 119,088.58 tons in the next five years, registering a CAGR of over 8% during the forecast period.
During the outbreak of the COVID-19 pandemic, demand for polyvinylpyrrolidone declined due to reduced demand from end-user applications. Prolonged lockdowns worldwide resulted in labor shortages and supply chain disruptions in the construction segment, affecting the demand for adhesives that find major applications in the segment. Furthermore, with strict restrictions on people's movement, retail sales for packaged and fast food, cosmetics, and personal care products slumped during the pandemic. On the flip side, the continued growth of the pharmaceutical industry slightly improved the demand for polyvinylpyrrolidone in pharmaceutical applications. However, with the manufacturing sector now fully restored to pre-pandemic levels of activity, demand for polyvinylpyrrolidone is anticipated to grow steadily during the next several years.
- Polyvinylpyrrolidone is extensively used in the pharmaceutical industry as a binder in the manufacturing of tablets. With major economies across the globe spending on developing the pharmaceutical industry in the aftermath of the pandemic, the demand for the studied market is projected to experience strong growth in the segment.
- Furthermore, growing construction activities across the globe, in view of rising demand for residential and commercial construction, are anticipated to further boost demand for polyvinylpyrrolidone.
- However, the studied market could likely be affected by the presence of substitute products that can potentially replace polyvinylpyrrolidone across various applications.
- On the flip side, an increasing application scope in the personal care and cosmetics industry may present future growth opportunities for the studied market.
- Asia-Pacific dominated the market and is expected to continue its dominance during the forecast period, major supported by the extensive growth of the pharmaceutical segment in the region.
Polyvinylpyrrolidone Industry Segmentation
Polyvinylpyrrolidone is a nonionic water-soluble polymer with good solubility in water and various organic solvents, good affinity to various polymers and resins, high hygroscopicity, good film formation properties, superior adhesiveness to various substrates, chelate/complex formation property.
The polyvinylpyrrolidone market is segmented by form (powder and liquid), application (pharmaceuticals, cosmetics, food and beverage, adhesives, and other applications), and geography (Asia-Pacific, North America, Europe, South America, and the Middle East and Africa).
The report offers market size and forecasts for the polyvinylpyrrolidone market in volume (tons) for all the above segments.
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| Adhesives | |
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Polyvinylpyrrolidone Market Size Summary
The polyvinylpyrrolidone market is poised for significant growth, driven by its extensive applications in the pharmaceutical, construction, and personal care industries. The pharmaceutical sector, in particular, is a major consumer of polyvinylpyrrolidone, utilizing it as a binder in tablet manufacturing. The post-pandemic recovery and increased investment in pharmaceutical development across major economies are expected to bolster demand in this segment. Additionally, the construction industry's expansion, fueled by rising residential and commercial projects, is anticipated to further enhance the market's growth trajectory. However, the presence of substitute products poses a potential challenge, while the expanding application scope in personal care and cosmetics offers promising growth opportunities.
The Asia-Pacific region, led by countries like China, India, and Japan, is expected to maintain its dominance in the polyvinylpyrrolidone market. The region's robust pharmaceutical industry, particularly in China and India, is a significant driver of demand. China's pharmaceutical sector is one of the largest globally, with a strong focus on generics and therapeutic medicines, while India's industry is rapidly expanding, contributing significantly to the country's GDP and exports. The growing food service and cosmetic industries in India and Japan, respectively, also contribute to the increasing demand for polyvinylpyrrolidone. The market is consolidated, with major players like BASF SE and Ashland holding significant shares, and strategic partnerships, such as Univar's collaboration with Boai Nky Pharmaceuticals, are aimed at expanding market reach and product offerings.
Polyvinylpyrrolidone Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Rising Demand in the Pharmaceutical Industry
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1.1.2 Growing Application as Adhesives in the Construction Industry
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1.2 Restraints
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1.2.1 Presence of Substitutes
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1.3 Industry Value Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION (Market Size in Volume)
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2.1 Form
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2.1.1 Powder
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2.1.2 Liquid
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2.2 Application
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2.2.1 Pharmaceutical
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2.2.2 Food and Beverage
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2.2.3 Cosmetics
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2.2.4 Adhesives
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2.2.5 Other Applications
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2.3 Geography
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2.3.1 Asia-Pacific
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2.3.1.1 China
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2.3.1.2 India
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2.3.1.3 Japan
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2.3.1.4 Rest of Asia-Pacific
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2.3.2 North America
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2.3.2.1 United States
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2.3.2.2 Canada
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2.3.2.3 Mexico
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2.3.3 Europe
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2.3.3.1 Germany
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2.3.3.2 United Kingdom
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2.3.3.3 Italy
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2.3.3.4 France
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2.3.3.5 Rest of Europe
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Middle-East and Africa
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2.3.5.1 Saudi Arabia
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2.3.5.2 South Africa
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2.3.5.3 Rest of Middle-East and Africa
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Polyvinylpyrrolidone Market Size FAQs
What is the current Polyvinylpyrrolidone Market size?
The Polyvinylpyrrolidone Market is projected to register a CAGR of greater than 8% during the forecast period (2024-2029)
Who are the key players in Polyvinylpyrrolidone Market?
BASF SE, Ashland, Boai NKY Pharmaceuticals Ltd, Sichuan Tianhua Chemical Group Co., Ltd and JH Nanhang Life Sciences Co., Ltd. are the major companies operating in the Polyvinylpyrrolidone Market.
