Pedestrian Detection System Market Forecasts to 2028 – Global Analysis By Type (Hybrid, Infrared, Video, Other Types), Component (Radars, Cameras, Sensors, Other Components), Application (Commercial Vehicles, Passenger Cars, Other Applications) and others

Pedestrian Detection System Market Forecasts to 2028 – Global Analysis By Type (Hybrid, Infrared, Video, Other Types), Component (Radars, Cameras, Sensors, Other Components), Application (Commercial Vehicles, Passenger Cars, Other Applications) and others

According to Stratistics MRC, the Global Polyvinylpyrrolidone Market is accounted for $2.67 billion in 2022 and is expected to reach $4.90 billion by 2028 growing at a CAGR of 10.6% during the forecast period. Polyvinylpyrrolidone (PVP), commonly known as polyvidone, is a polymer formed of water-soluble NVP. It is utilized as an addition to many coatings because of its excellent wetting qualities and capacity to form films. In addition to all of the advantages listed above, PVP also possesses exceptional film-forming, anti-prophylactic, and glue forming capabilities, making it an excellent chemical for both the production and consuming sectors of the economy.

According to The Association of the British Pharmaceutical Industry (ABPI), the global pharmaceutical R&D spending from 2007 to 2016 was recorded to be around US$ 1.36 trillion that is forecasted to increase with an annual investment of US$ 181 Billion by the end of 2022.

Market Dynamics:

Driver:

Increasing adoption of polyvinylpyrrolidone

The use of polyvinylpyrrolidone, which blocks the polyvinylidene difluoride (PVDF) membrane and prevents nonspecific binding, is becoming more prevalent in a variety of applications, including water treatment, membrane distillation, gas separation, pollutant removal, and bioethanol recovery. Increasing demand for the product for manufacturing adhesives is projected to contribute to the market growth during the forecast period.

Restraint:

Fluctuating prices of raw materials

Raw material prices are always changing, with the last year being particularly unstable for commodities, demonstrating little to no consistency. This volatility was brought on by significant spillovers of other chemicals and commodities, such as oil and gas, which exposed PVP raw material prices to skyrocket.

Opportunity:

Increase in adoption of pets

Increased pet adoption due to lifestyle upgrades in emerging nations is also one of the key factors likely to push demand for animal healthcare products such as antiseptics and veterinary shampoos in the near future. During the projected period, this is anticipated to grow the global PVP market.

Threat:

Availability of raw materials

The volatility of raw material availability and prices may be a hindrance to industry expansion. The expansion of the market is projected to be constrained by the substitution of hyaluronate for polyvinylpyrrolidone in skin care products and intracytoplasmic sperm injection.

Covid-19 Impact

COVID-19 had a negative impact on the market in 2020. All of the uses of polyvinylpyrrolidone were impacted by the COVID-19 pandemic, with the exception of the pharmaceutical sector. Global supply networks have been interrupted as a result of the pandemic. Production was impacted by lockdowns in many nations as important factories and manufacturing facilities were closed. However, since then, the industry has begun to rebound.

The liquid segment is expected to be the largest during the forecast period

The liquid segment is estimated to have a lucrative growth, due to its extensive use in pharmaceuticals as a plasma volume expander administered to trauma patients as well as a binder for numerous medicinal medicines and tablets. When consumed inadvertently, it just leaves the body. A coating agent for ink-jet printers is also employed in liquid form because of its outstanding polar structure.

The cosmetics segment is expected to have the highest CAGR during the forecast period

The cosmetics segment is anticipated to witness the fastest CAGR growth during the forecast period, due to the wide usage of PVP in number of applications. In many cosmetic products, it serves as a binder, film forming, hair fixative, dispersion agent, surfactant, viscosity enhancer, and stabiliser. Shampoos, hair sprays, hair setting lotions, eye shadows, eyeliners, mascara, lipsticks, nail polishes, shaving creams, and moisturizers are just a few cosmetic products that are made with PVP as a component.

Region with highest share:

North America is projected to hold the largest market share during the forecast period owing to growing demand from end user industries including pharmaceutical and personal care, and rising awareness about the PVP advantages in healthcare applications. Due to the US Food and Drug Administration (FDA) of the use of PVP as a safe ingredient in several medical treatments, the market in the US is expected to experience significant growth.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period, owing to increasing application & services from cosmetics, food & beverage and adhesive industries. India and China are anticipated to hold the lion's share of the market in the region, primarily because more people are becoming aware of and accepting the use of PVP products as a raw material in different applications and because there is an increase in foreign investment in the sector, which is driving innovations and technological advancements.

Key players in the market

Some of the key players profiled in the Polyvinylpyrrolidone Market include Ashland, BASF SE, Boai NKY Pharmaceuticals Ltd, Huangshan Bonsun Pharmaceuticals Co. Ltd, JH Nanhang Life Sciences Co. Ltd, Nippon Shokubai Co. Ltd., Glide Chem Private Limited, Hangzhou Sunflower Technology Development Co. Ltd., Dongying City Huaan Chemical Industry Co. Ltd, Star-Tech Specialty Products Co. Ltd., Nacalai Tesque Inc, Zhangzhou Huafu Chemical Co., Ltd., Ingredients Plus (NZ) Ltd, The DOW Chemical Company

Key Developments:

In June 2021, Harke Pharma expanded its distribution through a partnership with BOAI NKY. The two partners would cooperate in Russia and several CIS countries. The partnership would help better support Harke Pharma’s pharmaceutical customers in Eastern Europe.

In March 2021, Ashland expanded its Viatel™ bioresorbable polymers manufacturing facility and relocated its R&D to a new location in Mullingar, Ireland. This facility expansion enables Ashland to focus on meeting the needs of the customers as they conduct clinical trials and prepare for commercialization.

In January 2020, BASF completed the acquisition of Solvay’s polyamide business. With innovative and well-known products such as Technyl®, the transaction expands BASF’s polyamide capabilities. This will enable BASF to provide even better-engineered plastics solutions to its clients, such as for autonomous driving and e-mobility. The deal also improves the company’s access to emerging markets in Asia, as well as North and South America.

In January 2020, Ashland Global Holdings Inc. reached a definitive deal to buy Schülke & Mayr GmbH’s personal care business, which is a portfolio company of the global investment firm EQT. The acquisition fits Ashland’s objective of expanding its consumer business portfolio.

Forms Covered:
• Liquid
• Powder

Grades Covered:
• High Molecular Weight
• Medium Molecular Weight
• Low Molecular Weight
• Copovidone
• Crospovidone
• Other Grades

Applications Covered:
• Food & Beverage
• Pharmaceutical
• Electrical & Electronics
• Solvents
• Cosmetics
• Adhesives
• Membranes
• Home Care
• Agrochemicals
• Ceramics
• Other Applications

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements