Pune, India, Aug. 08, 2018 (GLOBE NEWSWIRE) -- A latest report published by Market Research Future (MRFR) projects that the Global Polyvinyl Alcohol (PVA) Market is likely to catapult to USD 1.76 Bn by the end of 2023, from USD 1.39 Bn in 2017. Extensive applications across various industry verticals are increasing due to its biodegradability and sustainability will help the market attain a CAGR of 4.09% between 2018 and 2023.

Market Overview

Innate nature of PVA allows its use in applications that only admit eco-friendly material. This is viewed as a major positive for the product as trends such as ‘go green’ and ‘reuse’ gain more prominence. The emphasis that is being placed on cutting down industrial applications that involve the use of harmful chemicals is prompting a shift towards materials that are environmentally sustainable. The packaging industry is a major consumer of PVA; the product is used for manufacturing convenient food packaging items, it being an excellent oxygen barrier and is biodegradable. It is used in manufacturing one of the most critical industrial polymer - polyvinyl acetate. A majority of vinyl-acetate have polyvinyl alcohol as the primary ingredient owing to its superior emulsifying and dispersing properties. Vinyl-acetate based emulsion drastically improves finished product properties. Besides, vinyl acetate-based emulsion finds application in textile, paint & coatings, construction materials, and re-dispersible polymer powder.

The ongoing price fluctuation and subsequent disruption in the supply of vinyl acetate monomer (VAM), which is an essential chemical ingredient for PVA production is a major market restraint. The global vinyl acetate monomer (VAM) supplies have dropped in recent years, inevitably escalating raw material prices.

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Key Players and Competition Tracking

The Nippon Synthetic Chemical Industry Co. Ltd., Chang Chun Group., Sekisui Chemical Co. Ltd., KURARAY CO. LTD., Japan Vam & Poval Co. Ltd., OCI Company Ltd., China Petroleum & Chemical Corporation, Merck KGaA, and Anhui Wanwei Group are some of the companies profiled in the MRFR’s report.

Industry News

• Researchers from Chile have invented water-soluble, biodegradable plastics which would be available for sale from October 2018. The biodegradable plastic has been made using polyvinyl alcohol as the chemical base which readily dissolves in water.
• Monosol LLC intends to spend $72 million in the construction of its new site for polyvinyl alcohol films. The company has plans to set up a 50,000-square-foot plant in Lebanon which would create up to 89 new jobs.

APAC to Spearhead the Global PVA Market Over 2023

The Polyvinyl Alcohol Market in APAC will continue to witness exponential growth over the forecast period. Factors such as the rapid proliferation of the manufacturing industry and growth of the construction sectors are driving the growth of the market in the region. Many of the APAC countries including India and China are undergoing a framework restructuring, with the introduction of new economic policies. These countries are being branded as a global manufacturing hub and thus present significant growth opportunities for market players. In addition, robust urbanization in many of the APAC countries has led to a rise in demand for various construction chemicals including PAV. By the end of 2023, the Asia Pacific PAV market is expected to surpass a valuation of USD 790 Mn. Europe, led by Germany is likely to retain its second position over 2023. Presence of several major market players is positively influencing the market. PVA suppliers are targeting emerging markets in Asia and Latin America as new pockets of growth owing to the industrial boom in these regions.

Browse the market data and information spread across 100 pages with 163 data tables and 24 figures of the report “Polyvinyl Alcohol (PVA) Market Report - Forecast 2018-2023” in-depth alongside table of content (TOC) at:

https://www.marketresearchfuture.com/reports/polyvinyl-alcohol-market-5820

Market Segmentation

MRFR’s report offers a detailed segmental analysis of the global polyvinyl alcohol market based on end-use industry, grade, and region. On the basis of end-use industry, the market has been segmented into construction, paper, packaging, textile, medical and electronics. Currently, the packaging segment commands over one-third share of the global market in terms of revenue. This is primarily owing to eco-friendly characteristics of PVA. The product being biodegradable is preferred in manufacturing various types of packaging items. Meanwhile, PVA is also increasingly being used in the textile industry. During the forecast period, the textile segment is expected to witness the highest CAGR.

On the basis of grade, the market is segmented into fully hydrolyzed and partially hydrolyzed. Of these, the partially hydrolyzed segment currently accounts for a relatively higher share of the market. Partially hydrolyzed polyvinyl alcohol has low viscosity and is water soluble, which drives its preference in various industrial vertical. In 2017, the segment surpassed a market valuation of USD 700 Mn and is expected to expand at 4.93% CAGR during the review period. Based on region, the market is segmented into Europe, Latin America, North America, Asia Pacific (APAC), North America and the Middle East & Africa (MEA).

By end use industry, the market has been segmented into packaging, paper, construction, electronics, textile, and medical. Currently, packaging is the leading segment while the textile segment is likely to be the fastest growing segment. The intensive use of PVOH in biodegradable packaging aids the packaging segment to gain the leading position in the market, and currently accounts for 38.2% share of the market. The textile segment is expected to expand at a CAGR of 5.49% owing to extensive use of PVOH for wrap sizing applications. Moreover, increased demand for textiles has resulted in the consistent growth of the textile industry.

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