Polyvinyl Alcohol Market Size, Share & Trends Analysis Report By End Use (Paper, Food Packaging, Construction, Electronics), By Region, And Segment Forecasts, 2019 - 2025

Report Overview

The global polyvinyl alcohol market size to be valued at USD 1.2 billion by 2025 and is expected to grow at a compound annual growth rate (CAGR) of 6.1% during the forecast period. An increasing need for bio-based polyvinyl alcohol (PVA) products is expected to be a key factor driving the global market over the forecast period. PVA, a synthetic water-soluble polymer, has been the key ingredient in formulation processes in various end-use industries including food packaging, construction, electronics, coatings, printing, textile, cosmetics, and paper. Demand for the same is mainly driven by the food packaging industry, as it is a material with excellent water solubility and biodegradable properties.

Sustainable packaging of products is in high demand, owing to stringent regulations for its disposal and declining landfill availability. Demand for packaging in various applications is fueled by several factors such as the expansion of consumer base, increase in cost per package, and sustainability in major markets such as the U.S., China, and India.

The development of various biodegradable packaging materials has garnered much attention in the recent past. Renewable natural polymers have been tested to enhance the biodegradation potential of PVA-based end-use products. Among the different biodegradable synthetic polymers, PVA material is extensively used owing to its biodegradability in various microbial environments.

Polyvinyl alcohol has different applications such as ceramic, textiles, coatings, paper, and wood. The various grades are useful for different end-use industries. Also, similar grades of the product can be used for various end-uses. This ability has helped in augmenting demand for PVA over the last few years. There are lesser-known product substitutes available on account of its properties including ethanol, water solubility, and resistance to grease and oil.

Polyvinyl Alcohol Market Trends

The market is primarily driven by the packaging industry since it has good oxygen resistance, water absorption, and biodegradability. Furthermore, the food packaging industry is predicted to grow substantially on account of new demographic conditions, new customer demands, increased purchasing power in emerging regions, rising emphasis on sustainable, convenient packaging, and out-of-home consumption trends.

Moreover, the rising capability in electronic industry to manufacture devices that require high dielectric qualities, such as transistors is likely to provide profitable prospects for the market of polyvinyl alcohol. In addition, the market is predicted to grow due to the increased use of construction products such as sealants and caulks, joint compounds like drywall mud, joint cement, and redispersible powders including mortars and grouts.

However, due to the emission of harmful waste the growth of the PVA market is likely to decline. Over the forecast years the PVA products are expected to have a negative impact on human health. They have the potential to damage the environment and create adverse consequences for a significant number of people. Due to the emission of toxins, the market's production facilities are subjected to multiple restrictions.

Increasing adoption of organic polyvinyl is expected to lead to significant market opportunities. Synthetic polyvinyl has a number of components that are harmful to the environment. However, bio-based alternatives are gaining a lot of momentum in the market. Many end-users are well-informed about polyvinyl alcohol. Moreover, many important sectors are quickly transitioning to organic compounds.

End-use Insights

Food packaging has emerged as the leading end-use segment and accounted for 31.4% of the global volume in 2016. The increasing need for biocompatible and nontoxic packaging solutions in the food and beverage industry is expected to drive the segment. Thin and water-resistant food-grade polyvinyl alcohol films are being developed, which prevent moisture formation. Advantageous properties such as good crosslinking density and moisture resistance are expected to further fuel segment growth.

PVA is also extensively used in the construction industry on account of its various properties such as better water solubility and particle size, adsorption capacity, cement pore solution viscosity, and static filtration of cement slurries. Construction is a diverse industry that is expected to experience robust growth due to growing infrastructural development in the Asia Pacific, especially in China, India, and Japan.

Regional Insights

Asia Pacific led the PVA market in terms of volume in 2016 and this trend is expected to continue over the forecast period. It is also anticipated to emerge as the fastest-growing regional market. Increasing product demand from various end-use sectors, mainly paper, is expected to propel market growth through 2025.

The Asia Pacific was followed by North America in terms of volume and the region is expected to register a CAGR of 5.1% over the forecast period. Rising solid waste volumes in this region is projected to fuel demand for polyvinyl alcohol in packaging applications. Besides, rising innovation in packaging and growing consumer demand for properties such as safety, convenience, technology, and sustainability are expected to fuel product demand over the forecast period.

Key Companies & Market Share Insights

Key players in the global market include E. I. du Pont de Nemours and Company, Nippon Synthetic Chemical Industry Co., Eastman Chemical Company, Sekisui Chemical Co. Ltd., Kuraray Co. Ltd., Sinopec Sichuan Vinylon, and Anhui Wanwei Group Co., Ltd. These and other companies have been emphasizing on new product development, partnerships, and acquisitions with key players to increase their market share and strengthen their foothold in the industry.

Recent Developments

• In May 2020, Sekisui Chemicals announced its long-term strategy, Vision 2030, an ambitious set of goals focusing on ESG-friendly innovation, responsible growth, and sustainability. Renewable energy as a proportion of purchased power will be a crucial metric in Sekisui's growth. The partnership between Sekisui and TXU Energy enables the corporation closer to its Vision 2030 objective of using 100 % renewable energy

• In April 2022, with the acquisition of Lonza's MAST (Modular Automated Sampling Technology) platform, Merck, a major science and technology firm, expanded its bioprocessing portfolio. The MAST platform is an aseptic, automated bio-reactor sampling system created in Bend, Oregon, United States.

• In June 2020, Kuraray launched two new polyvinyl alcohol (PVOH) categories in Europe: Kuraray PovalTM 6-96, which is water-resistant and perfect for food packaging and Kuraray PovalTM 3-88 for low-viscosity coatings.

Polyvinyl Alcohol Market Report Scope

Global Polyvinyl Alcohol Market Segmentation

This report forecasts revenue and volume growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2025. For this study, Grand View Research has segmented the global polyvinyl alcohol (PVA) market report based on end-use and region:

• End-use Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)

  • Paper

  • Food Packaging

  • Construction

  • Electronics

  • Others

• Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)

  • North America

    • The U.S.

  • Europe

    • Germany

    • U.K.

    • Russia

    • CIS

    • Armenia

    • Kazakhstan

    • Ukraine

    • Belarus

    • Rest of CIS

  • Asia Pacific

    • China

    • Japan

  • Central & South America

    • Brazil

  • Middle East & Africa