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Polyvinyl Alcohol Market Overview
Polyvinyl alcohol market is forecast to reach $1.09
billion by 2025, after growing at a CAGR of 5.58% during 2019-2025. Polyvinyl
alcohol (PVOH) is widely used in the construction industry due to its various
properties such as enhanced water solubility and particle size, adsorption
strength, the viscosity of cement porous solution and static cement slurry
filtration. Construction is a diverse industry expected to experience robust
growth due to the growing development of infrastructure in the Asia Pacific,
particularly in China, India, and Japan. Further, it enhances the overall market
demand for polyvinyl alcohol during the forecast period.
Report Coverage
The “Polyvinyl alcohol market report – Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the Polyvinyl alcohol market.
Key Takeaways
- It is expected that increased need for bio-based polyvinyl alcohol products will be a key factor driving the global market over the forecast period.
- Sustainable product packaging is in high demand due to strict disposal regulations and declining availability of landfills. Several factors such as consumer base expansion cost-per-package rise, and sustainability in major markets such as the U.S., China, and India are driving demand for packaging in various applications.
- The segment is expected to be driven by the need for biocompatible and non-toxic packaging solutions in the food and beverage industry. Thin and water-resistant polyvinyl alcohol films of food grade are being produced to prevent the formation of moisture. Advantageous properties such as the good density of crosslinking and resistance to moisture are expected to increase further in the fuel segment.
- Growing use of adhesives in food packaging and growing use in solar generation is increasing the production of the vinyl acetate monomer.
Application- Segment Analysis
The Building & Construction sector
has been the primary market for polyvinyl alcohol for many years at a CAGR of
6.65%. To increase their cohesion and fluidic properties, polyvinyl alcohol is
used as an additive in mortar and cement, reducing the drying time for the
concrete surface. It increases the adaptability of the coating and avoids the
chapping of concrete fabric. Because of the presence of emerging economies such
as India, Indonesia, Vietnam and others in the region, the construction
industry has seen strong growth in the Asia-Pacific region. The growing
attractiveness of these markets has resulted in huge investments in these
countries manufacturing and service sectors. This has further created demand for
both commercials as well as residential infrastructures, owing to which the
construction projects has increased over the years.
Geography - Segment Analysis
APAC dominated the polyvinyl alcohol market share with more
than 44%, followed by North America and Europe. The Asia Pacific region is rising sharply as a result of rapid
industrialization and construction sector growth. However, the growing trends
in cosmetics packaging and food & beverage industries are also driving this
region's growth. In addition, the increasing use by the packaging industry of
biodegradable materials to prevent pollution also contributes to the increasing
demand for polyvinyl alcohol. During the forecast period, the increasing
innovation in packaging coupled with consumer demand for properties such as
convenience, safety, technology, and sustainability is expected to fuel the
demand for polyvinyl alcohol.
Drivers – Polyvinyl alcohol market
- Usage in the Electronics Industry is Expected to Increase
Because of their potential to produce low cost, high
volume and versatile electronics, organic field-effect transistors (OFETs) have
been a hot topic for the past decade. Currently, polyvinyl alcohol is the most
studied suspension polymerizations to be used as a dielectric material in
organic thin-film transistors due to its versatility, low cost, water-soluble
polymer, non-toxicity, high dielectric consistency, flexible hydrophilic
network, low leakage current, good film properties and, most importantly, its
high dielectric permittivity and high insulating properties. The most promising
factor currently being used as a dielectric gate in OFET structures is
polyvinyl alcohol. Thus, the usage of polyvinyl alcohol is expected to increase
in the electronics industry during the forecast period.
Challenges – Polyvinyl alcohol market
- Effect on human health
Nevertheless, the use of polyvinyl alcohol in different
application segments have been limited by strict regulations. After exposure to
polyvinyl alcohol and environmental safety, the National Institute for
Occupational Safety and Health (NIOSH) has identified many preventive measures.
Solid waste generation may affect human health, particularly children, who are
more vulnerable to these hazardous pollutants. This could act as a dissuasive
to the market for polyvinyl alcohol production.
Market Landscape
Technology launches, acquisitions
and R&D activities are key strategies adopted by players in the polyvinyl
alcohol market. In 2018, the market of polyvinyl alcohol has been consolidated by
the top five players accounting for xx% of the share. Major players in the polyvinyl
alcohol market are 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.,
among others.
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