Polyvinyl Alcohol Market Analysis

Global Polyvinyl Alcohol Market Overview

Polyvinyl Alcohol Market Size was valued at USD 1.4 billion in 2022. the polyvinyl alcohol industry is projected to grow from USD 1.466 Billion in 2023 to USD 1.938 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 4.76% during the forecast period (2024 - 2032). Increasing consumer demand for food and eco-friendly packaging are the key market drivers enhancing the Polyvinyl alcohol market growth.Source: Secondary and Primary Research, MRFR Database and Analyst Review

Polyvinyl alcohol Market Trends

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  Growing consumer demand for eco-friendly packaging will boost the Polyvinyl alcohol market growth

  
  

Polyvinyl alcohol is a biodegradable polymer made from petroleum soluble in water. Biodegradable polymers are gaining ground in the packaging sector, particularly for food packaging, as environmental scrutiny of plastic usage grows. With changing lifestyles and an expanding working population, packaged meals are becoming more and more popular with customers. This increases the demand for environmentally friendly packaging materials. As a binding and coating agent, polyvinyl alcohol is used in the food business in various ways. It is a film coating agent in applications where moisture barrier/protection capabilities are necessary. As a result of its outstanding oxygen barrier qualities, water solubility, and biodegradability, Polyvinyl alcohol is becoming a popular packaging material in the food packaging business.

Solutia Inc., in June 2020, collaborated wіth IMCD Group tо exраnd distribution nеtwork fоr sреciality plastics іn Eurоpean, Middle Eastern, аnd Africаn regions (EMEA). They agreed to enlarge the market in 35 countries. Eastman’s specialty polymers/compounds range, together with advanced recycling technologies, targets a wide range of industries that are experiencing technical challenges or face regulatory compliance or sustainability problems. This strategic partnership reflects IMCD’s commitment to offer innovative and sustainable solutions.

Figure 1: Sustainable plastic Packaging market by Region (2018-2025)Source: Secondary and Primary Research, MRFR Database and Analyst Review

The Polyvinyl alcohol market CAGR will be dominated by food packaging. Polyvinyl alcohol is a binding and coating agent, a film coating agent, utilized in the food packaging sector when moisture barrier or protective qualities are required. PVA disguises the taste and odor of the active food ingredients while shielding them from moisture, oxygen, and other environmental elements. It makes handling completed items simple and makes swallowing and consumption easier. Furthermore, because of PVA's viscosity, it is possible to apply Polyvinyl alcohol coating agents to tablets, capsules, and other forms that generally get film coatings at quite high solids.

The market for Polyvinyl alcohol is anticipated to be driven by changing demographics, new consumer expectations, rising purchasing power in emerging nations, an increased focus on sustainable, user-friendly packaging, and trends in out-of-home consumption. While emerging economies like Africa are anticipated to have considerable development throughout the projection period, the United States and China are among the major players in the food packaging business. There are more services like Amazon Fresh that let customers purchase fresh vegetables without leaving their homes. Furthermore, vineyards, animal slaughter and processing facilities, and bread production make up the majority of the city of New York's food and beverage processing facilities.

Food packaging usage will increase due to the growing demand for organic food. The majority of packaged organic food is consumed in the United States. The nation spent USD 71.40 per person in 2021, accounting for USD 21.3 billion or around 40% of the worldwide Polyvinyl alcohol market. After a significant fall in 2020 caused by the COVID-19 pandemic and the recession, when food spending reached USD 1.81 trillion, food spending by US individuals, corporations, and government bodies reached USD 2.12 trillion in 2021.

China increased its processed paper and cardboard production from 10.74 million metric tonnes in September 2021 to roughly 11.6 million metric tonnes in September 2022. This expansion is linked to rising environmental protection awareness and expanding food packaging usage. In the upcoming years, the value is anticipated to rise, creating expansion in the polyvinyl alcohol market revenue.

In May 2020, Celanese Corporation signed an agreement to supply оf ethylene-based vinyl acetate monomer (VAM) to Wanwei Corporation. Under this agreement, Wanweis methanol unit in the Anhui province of China will be supplied with raw materials required for chemical production, including chemicals, fibers and new materials. Both companies aim to promote eco-friendly solutions and contribute to China's environmental policies.

Polyvinyl alcohol Market Segment Insights

Polyvinyl alcohol Grade Insights

The Polyvinyl alcohol market segmentation, based on grade, includes fully hydrolyzed, partially hydrolyzed. The segment that has been partially hydrolyzed had the biggest polyvinyl alcohol market revenue share in 2022 and is anticipated to hold this position throughout the projection period. Polyvinyl alcohol that has undergone partial hydrolysis is frequently employed in various processes, including films, pressure-sensitive adhesives, remoistening adhesives, soil stabilization, and warp-sizing for spun and filament yarn. Due to the significant demand for the category in the construction and food packaging industries, the product will increase over the projection period.

Figure 2:  Polyvinyl alcohol Market, by Grade, 2022 & 2030 (USD billion)

Source: Secondary and Primary Research, MRFR Database and Analyst Review

Polyvinyl Alcohol End-use Insights

The Polyvinyl alcohol market segmentation, based on end-use, includes packaging, textile, paper, construction, electronics, medical, and others. The leading end-use category in 2022 was by packaging category, which accounted for 31.4% worldwide volume. The sector is anticipated to be driven by the growing need for biocompatible and nontoxic packaging solutions in the food and beverage industry. Food-grade polyvinyl alcohol thin and water-resistant films are being created to stop moisture buildup. Benefits, including a high crosslinking density and moisture resistance, are anticipated to drive segment expansion further.

Polyvinyl Alcohol Regional Insights

By Region, the study provides market insights into North America, Europe, Asia-Pacific and the Rest of the World. Asia Pacific Polyvinyl alcohol market accounted for USD 0.64 billion in 2022 and is expected to exhibit a significant CAGR growth during the study period. It is also predicted to become the regional market with the quickest growth rate. Polyvinyl alcohol market expansion is anticipated to be fueled by rising product demand from various end-use industries, particularly paper, through 2025. Another significant reason driving the expansion of the Polyvinyl alcohol market is the existence of the textile industries in China and India, as well as the Region's expanding exports of goods connected to the textile sector. The uses above will provide the oolyvinyl alcohol market with plenty of development potential.

Further, the major countries studied in the market report are The U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 3:  POLYVINYL ALCOHOL MARKET SHARE BY REGION 2022 (%)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe polyvinyl alcohol market accounts for the second-largest market share. Due to the increasing demand for PVA as a polymerization aid and PVA products made from biomaterials, North America dominates the PVA industry. Due to the rise of the packaging business, the Middle East and Africa are predicted to have substantial growth between 2021 and 2028. Moreover, US polyvinyl alcohol market held the largest market share, and the Canada polyvinyl alcohol market was the fastest growing market in the region.

Asia Pacific polyvinyl alcohol Market is expected to grow at the fastest CAGR from 2022 to 2030. Due to the expansion of polyvinyl alcohol use in textile and construction applications, Europe is also anticipated to see a quick revenue rise throughout the projection period. Further, the UK polyvinyl alcohol market held the largest market share, and the Germany polyvinyl alcohol market was the fastest growing market in the region.

Polyvinyl Alcohol Key Market Players & Competitive Insights

Major market players are investing a lot of money in R&D to expand their product portfolios, which will spur further market growth for the Polyvinyl alcohol industry. As a result of substantial developments in the sector, such as the introduction of new products, contracts, mergers and acquisitions, increased investments, and cooperation with other businesses, market participants are also undertaking various strategic activities to expand their presence. To grow and remain in a market that is becoming more and more competitive, Polyvinyl alcohol industry competitors must provide affordable products.

Manufacturing locally to cut operational costs is one of the main business tactics used by the Polyvinyl alcohol industry to serve customers and increase the market sector. The Polyvinyl alcohol industry has recently given medicine some of the most important advantages. The Polyvinyl alcohol markets major players such as China Petroleum & Chemical Corporation, Anhui Wanwei Group, OCI COMPANY Ltd., Sekisui Chemical Co. Ltd., KURARAY CO. LTD., Merck KGaA, Japan Vam & Poval Co.Ltd., Chang Chun Group, and Sekisui Chemical, The Nippon Synthetic Chemical Industry Co. Ltd. and others are working on expanding the market demand by investing in research and development activities.

Named after the Merck Group, which was established in Germany in 1668 and of which it was once the American arm, Merck & Co., Inc. is an American pharmaceutical corporation with its headquarters in Rahway, New Jersey. Outside of the United States and Canada, the corporation trades as Merck Sharp & Dohme or MSD. With the acquisition of Lonza's MAST (Modular Automated Sampling Technology) platform in 2022, renowned science and technology corporation Merck increased the scope of its bioprocessing offerings. MAST is an automated, aseptic bioreactor sampling device that was created in Bend, Oregon, in the USA.

Plastics producer Sekisui Chemical has offices in Osaka and Tokyo. The corporation holds several companies that operate in a wide range of industries. To fulfill the increased demands of its downstream clients, Sekisui Specialty Chemicals (SSC) started the feasibility studies for extending its Polyvinyl Alcohol (PVOH) supply network in August 2022. It might result in a 25% increase in Sekisui's PVOH capacity.

Key Companies in the Polyvinyl Alcohol market include

• OCI COMPANY Ltd.


• Merck KGaA


• Sekisui Chemical Co. Ltd.


• KURARAY CO. LTD.


• Japan Vam & Poval Co.Ltd.


• Chang Chun Group.


• China Petroleum & Chemical Corporation


• Anhui Wanwei Group.


• The Nippon Synthetic Chemical Industry Co. Ltd

Polyvinyl alcohol Industry Developments

March 2023: C.C.P. announced to build a new copper foil mill in North America as a part of the expansion project. This plan aimed at capturing the potential and growing demands of consumers in the Electric Vehicle (EV) industry proactively. The company plans to begin commercial production of copper foil by 2026 with a targeted capacity of 50,000 tonnes per year.

February 2023: Kuraray appliеd LCA tо four оf its prоducts manufaсture іn Еurope; Kurаrаy Poval or Polyvіnyl Alvohol (PVA), Polyvinyl Butyrаl (С4Н6О2)n, polyvinyl butyral film аnd SеntryGlas. Sphеra Solutions, which is a product sustainability consultancy carried out this assessment on Kuraray’s products using cradle-to-gate approach for examining their overall sustainability and finding any areas where improvements could be made.

February 2023: Mitsubishi Chemical Corporation announсed fоr thе еstablishmеnt оf nеw facility at Okayama Plant. The purpose of this facility was to augmеnt thе production capacity оf GOHSENX, Nichigo G Polymers and spесialty brands оf PVOH rеsin. Slatеd to commence operations in Оctober 2024, this faсility was expected to have a lifespan of over twenty years.

August 2022: SSC conducted preliminary research work into the enlargement of its Polyvinyl Alcohol supply chain in order to meet increasing demand from downstream customers. It will boost Sekisui's ability by up to one-fourth.

November 2021: At the start of November this year, Kuraray Poval opened а new sales оrganіzation іn Iberia. The company will undertake the marketing and selling of PVOH and other Kuraray products, such as Poval, Elvanol, Exceval, and Mowiflex, at the same time. The firm would like to be near its clients and present them with its commodities as well as services.

Polyvinyl alcohol Market Segmentation

Polyvinyl alcohol Grade Outlook

• Partially Hydrolyzed


• Fully Hydrolyzed

Polyvinyl alcohol End User Outlook

• Food Packaging


• Textile


• Paper


• Medical


• Construction


• Electronics

Polyvinyl alcohol Regional Outlook

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  North America

  
  
  
  
  • US
  
  
  • Canada
  
  
  
  


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  Europe

  
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


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  Asia-Pacific

  
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


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  Rest of the World

  
  
  
  
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    Middle East

    
    
  
  
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    Africa

    
    
  
  
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    Latin America