Polyvinyl Alcohol (PVA) Market - Forecasts from 2024 to 2029

Polyvinyl Alcohol (PVA) Market - Forecasts from 2024 to 2029

The polyvinyl alcohol (PVA) market is expected to grow at a CAGR of 3.89% during the forecast period (2024-2029).

The polyvinyl alcohol (PVA) market is expected to exhibit a steady growth rate in the forecast period due to growing demand for products or services used across various industries. Several factors have contributed to this market's growth, including the increasing need for environment-friendly packaging materials, which PVA is becoming popular for, especially in the food and beverages sector.
Moreover, growth in the construction and electronics industries for PVA usage and the environment-friendly character of the material also helped to stimulate the market’s growth. Some of the specific properties of PVA include its high insulation capacity, dielectric strength, and resistance to moisture; all these qualities make PVA ideal for electronic uses, such as the manufacture of transistors and electronic circuits. Likewise, the biodegradable material of PVA means that the product cannot cause any harm to the environment when it is disposed of in the electronics industry. Therefore, it could be inferred that demand for PVA in the electronics market will experience strong growth over the forecast period, which will help stimulate the entire market. This trend has been especially noted in the Asia Pacific region, where the electronics industry is experiencing rapid growth), due to the growing appetite for electronics gadgets and new economies such as China and India.
This second driver is that there is increasing global demand for bio-based PVA products that are eco-friendly on the market. The current trend of going green, especially with regard to packaging materials, has also projected itself on the need for biodegradable products, which PVA meets. Thus, PVA is a renewable material due to its biodegradable nature and thus may suit the green image of many companies. In addition, various types of biodegradable packaging materials have also been developing in recent years and this factor consequently fuels the market demand of PVA. Another factor contributing to the precondition of this market is the rising demand for PVA in the textile field. It is applied in textiles and other products such as fibers, yarns, and fabrics with relevant market names of PVA. The growing demand for sustainable textiles has increased their use in the textile industry. Additionally, the biodegradable properties of PVA make it an attractive option for companies looking to reduce their environmental impact.

POLYVINYL ALCOHOL (PVA) MARKET DRIVERS:

The fully hydrolyzed segment by grade will likely be the fastest-growing type during the forecast period.

Out of the segments in the polyvinyl alcohol films market, it is predicted that the fully hydrolyzed segment will capture the largest market share and grow fastest during the forecast period. This is primarily due to its remarkable properties that make it a go-to material for many purposes. Guar filtration is a natural next step for fully hydrolyzed PVA films because of their high water solubility and excellent film-forming properties; key sectors include food packaging and pharmaceuticals. Furthermore, the aforementioned material poses high tensile strength, superior barrier capabilities, and outstanding adhesion features, thereby pointing to its versatility in an extensive range of industries. Similarly, the fully hydrolyzed grade type should also have positive developments due to the increasing trends for improved environmental sensitivity that it can produce water-soluble films. Therefore, it is likely that the fully hydrolyzed segment will experience good growth due to the application of DMC and its uses in various industries due to its flexibility and the need for bio-based products.
The growing application of polyvinyl alcohol market in the construction industry

Currently, PVA has shown noteworthy growth, primarily because of its augmented use in the construction sector. In the building and construction industry, some of the applications of PVA are the addition of mortar and cement, which is used as an admixture to improve workability, bonding properties, and water resistance. This enhances the quality of construction materials, and they have lengthened service delivery ability. Here, it also strengthens the cohesive properties and workability and in tile adhesives, enables it to dry up cement surfaces quicker without chapping the concrete fabric. Furthermore, PVA is used as a binder for adhesives when required for various industries due to the strong cross-linking with substrates. The consumption of PVA is thus being boosted by the increased uptake of construction-related products and services in the emerging economic powerhouse across the Asia-Pacific nations, including India, Indonesia, and Vietnam, among others. The increasing demand for environmentally friendly construction solutions is also a factor that drives the market, as PVA is bio-degradable and non-toxic, which has positive effects on the natural environment.

POLYVINYL ALCOHOL (PVA) MARKET GEOGRAPHICAL Outlook

The Asia Pacific region to dominate the polyvinyl alcohol (PVA) market during the forecast period.

The major economies like China, Japan, India, and South Korea dominate the Asia-Pacific region. Some of the fastest-growing emerging economies are from this region, such as ASEAN countries. This region is expected to dominate the polyvinyl alcohol (PVA) market during the forecast period owing to being the home of manufacturing hubs like China, Japan, and India. The growing demand from various industries like packaging and electrical and electronics is driving the demand for PVA resin in the region.

Among all the international locations, the Asia Pacific region is expected to be the largest consumer of polyvinyl alcohol (PVA) in the forthcoming years. This dominance is due to the very high consumption of PVA, mostly in India, China, and Japan, among other countries. Some key drivers that are playing a significant role include the escalating economic growth and the rising awareness of sustainable packaging products, including PVA. Further, the Asia Pacific region has a fairly large population, which is growing very fast, and this has significantly increased the demand for consumer products such as food and beverages, cosmetics, and pharmaceuticals, among others. These industries use PVA for packaging and production of their products, thus creating a large market for PVA, explaining why there is a large market for PVA in the region. Another essential factor is the availability of raw materials, predominantly manufactured in the region and favorable government policies. Under these conditions, the Asia Pacific region is again anticipated to remain the largest consumer of PVA. It is likely to hold the maximum share of the global market during the predicted period.

Polyvinyl Alcohol Marker (PVA) Key Developments:

August 2022: Sekisui Specialty Chemicals (SSC) started the preliminary studies aimed at enhancing the company’s delivery outlets of Polyvinyl Alcohol (PVOH) to satisfy its downstream clients. Sekisui’s realization of this project will see its PVOH capacity augment to a level of 25% more as compared to its current production ability.
November 2021: Kuraray Poval began a new sales organization in Iberia. The company is an agent in the sales and marketing of PVOH and Kuraray products derived from Poval, Elvanol, Exceval, and Mowiflex. Thus, the company needs to be close to its clients and make its products and services available.

The polyvinyl alcohol (PVA) market is segmented and analyzed as follows:

By Grade
Fully Hydrolyzed
Partially Hydrolyzed
Sub-partially Hydrolyzed
Low Foaming Grades
Other Grades (Tactified Grades and Fine Particle Grades)
By End-User Industry
Food Packaging
Paper Manufacturing
Construction
Electronics
Textile Manufacturing
Other End User Industries
By Geography
North America
USA
Canada
Mexico
South America
Brazil
Argentina
Others
Europe
United Kingdom
Germany
France
Italy
Spain
Rest of Europe
Middle East and Africa
Saudi Arabia
Saudi Arabia
United Arab Emirates
Rest of Middle East and Africa
Asia-Pacific
China
India
Japan
South Korea
Taiwan
Thailand
Indonesia
Rest of Asia-Pacific