Robust and recurring industrial applications of polyvinylpyrrolidone (PVP) in adhesives, ceramics, glass fibers, coatings, detergents, electrical applications, lithography, paper, metallurgy, polymerizations, suspensions, and tableting are driving the growth of PVP market. IndustryARC’s newly compiled report states that the polyvinylpyrrolidone market size stood at $1.87 billion in 2018 and is projected to grow with a CAGR of 8.57% throughout the forecast period 2019-2025.
The business intelligence report by IndustryARC is titled as: “Polyvinylpyrrolidone Market: By Application (Adhesives, Pharmaceuticals, Cosmetics, and Food & Beverage, and Others), & By Geography (Europe, Asia Pacific, North America, Rest of the World) - Forecast (2019-2025).” This report offers an outlook of different factors which are driving the market growth. Additionally, it provides an elaborative analysis of technological advancement in various applications of PVP along with an extensive assessment of the market revenue, and competitive landscape of existing players.
Polyvinylpyrrolidone Market: Leading Segments
Pharmaceuticals, Cosmetics, and Food & Beverage, these three application industries are the key end users of PVP. The average growth of these three verticals is projected to increase at an application CAGR of 8.9% during the forecast period 2019-2025. PVP is highly used as a binder agent in the tableting application of pharmaceutical industry. Furthermore, it is extensively used in cosmetics, as it stimulates the dispersion of pigments. This factor is encouraging PVP as a major ingredient among makeup products to create a well spread out. This polymer acts as an efficient thickening agent and also as a film former, mainly used for hair sprays, hair gels, adhesive powders and gels. Moreover, PVP- carboxymethyl cellulose (CMC) Bacterial cellulose (BC) 'PVP-CMC-BC' film is a unique green packaging material, it is recommended for food packaging application. It is less expensive, recyclable, and act as the best alternative to conventional food packaging material.
Europe held as a leading region which accounts for a share of 32% in the global PVP market as of 2018. This growth is attributed to the thriving pharmaceutical industries in eminent European countries such as the U.K. and Germany. Thus, expanding healthcare sector through well-developed pharmaceutical industries in these countries is boosting the growth of Europe PVP market.
Polyvinylpyrrolidone Market: Disruptive Trends
- PVP is an antibacterial agent and antiseptic, whose prevalent use in cosmetics, medical products, and hair care products is augmenting the PVP market growth. Increasing concern of people about their health in accordance with the consciousness of appearance are improving the growth in above-mentioned industries.
- PVP is a water soluble polymer. It is gaining traction from the medical industry because of its film forming properties. These properties are increasing the usage of PVP in the production of medicines. BPVP’s biocompatibility and capability to form stable compounds using various active compounds have been evolving it as the most prominent polymer in the pharmaceutical industry. Majorly drug manufacturers use PVP as an adhesive, binder, coating, stabilizer, film, and solubilizer.
- Improved tensile strength, moisture holding capacity, anti-microbial and non-allergic properties of PVP has been driving emerging its growth in food and beverage applications. These properties play an important role to preserve food items, which are indirectly growing the scope of PVP in food products.
Polyvinylpyrrolidone Market: Competitive Landscape
Some of the main companies operating in the global polyvinylpyrrolidone market are noted as BASF SE, Sisco Research Laboratories, Zhangzhou Huafu Chemical Co. Ltd., Ashland Inc., Hangzhou Motto Science & Technology Co. Ltd., Shanghai Yuking Water Soluble Material Tech Co., Ltd, Nippon Shokubai, Shanghai Qifuqing Material Technology Co., Ltd and The Good Scents Company.
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