Polyvinylpyrrolidone Market Size

Global Polyvinylpyrrolidone Market Overview

Polyvinylpyrrolidone Market Size was valued at USD 1.59 Billion in 2023. The Polyvinylpyrrolidone industry is projected to grow from USD 1.69 Billion in 2024 to USD 2.64 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.71% during the forecast period (2024 - 2032). The rising need for the product used in the manufacturing of adhesives and the healthcare and cosmetics industries are increasing their use of Polyvinylpyrrolidone as an excipient and binder are the key market drivers contributing to market growth and development.

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

Polyvinylpyrrolidone Market Trends

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  The growing manufacturing of adhesives is driving market growth.

  
  

The rising manufacturing of adhesives is driving market CAGR for polyvinylpyrrolidone. Polyvinylpyrrolidone (PVP) is the main raw material used in producing a wide range of FMCG, comprising personal hygiene, aesthetics, and cosmetics. Worldwide FMCG production need is expanding at a constant rate. As the globe's population grows, so does consumer spending, which drives demand for home products. Many prominent FMCG firms make expenditures in their product lines to diversify their product range through developing novel products and sustainable innovations. This product development is critical in obtaining PVP. This material has strong steric durability and produces a wide range of FMCG. These reasons are propelling the PVP industry forward.

Additionally, the rising demand for polyvinylpyrrolidone in producing adhesives will likely be a significant driver of market expansion. The product has a unique, cohesive quality that makes it a good binder for various surfaces. PVP's strong dispersion equilibrium, low environmental impact, great bonding endurance, and thixotropy are expected to boost the expansion of adhesive applications. Over the projection period, an increasing need to produce inks, polish substances, glaze-sintered materials, and paints will likely drive development.

COVID-19 has significantly influenced the polyvinylpyrrolidone (PVP) industry, resulting in severe labor, travel, and manufacturing chain disruptions. Many nations' manufacturing factories closed because of insufficient raw materials, labor, and transport. Authorities in major areas have ordered a temporary halt to major port activities. These difficulties have substantially influenced the import and export of PVP. It is widely utilized in bioengineering and the production of medicinal products. Testing of these medicines was severely hampered during COVID-19 due to supply chain issues.

Furthermore, several firms had credit recovery and interest rate concerns during COVID-19—however, an upsurge in need for water-soluble drugs in the medical and pharma sectors. As a result, manufacturers are focused on growing manufacturing capacity to meet the increased demand.

For instance, according to UNIDO, Worldwide manufacturing output rose by 9.4% in 2021. Furthermore, FMCG businesses have implemented Just in Time production procedures. Companies are extending their operations on a worldwide basis. Therefore, the demand for these products is increasing rapidly. Thus, it is anticipated that demand for Polyvinylpyrrolidone will increase throughout the projection timeframe due to the rising manufacturing of adhesives. Thus, driving the Polyvinylpyrrolidone market revenue.

Polyvinylpyrrolidone Market Segment Insights

Polyvinylpyrrolidone Grade Insights

The Polyvinylpyrrolidone market segmentation, based on Grade, includes PVP K-15, PVP K-30, PVP K-60, and others. The PVP K-30 segment dominated the market, accounting for 39% of market revenue (USD 0.6 Billion) in 2022. PVP K-15 will grow and expand significantly during the projected timeframe, boosting market demand.

Figure 1: Polyvinylpyrrolidone Market, by Grade, 2022 & 2032 (USD Billion)Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Polyvinylpyrrolidone Application Insights

The Polyvinylpyrrolidone market segmentation, based on Application, includes Pharmaceuticals, Cosmetics, Food & Beverage, Adhesives, and Others. The pharmaceuticals category generated the highest market revenue of about 49% (USD 0.7 billion) in 2022. Polyvinylpyrrolidone (PVP) is widely used in pharmaceutical formulations as an adhesive coating substance that suspends substance pore-former, solubilizer, stabilizer, and other additives in traditional compositions and new regulated or targeted delivery techniques. These items are increasingly used in development and research, fueling the segment's rise. The cosmetics category is expected to grow and expand during the projected timeframe, boosting the overall market demand.

Polyvinylpyrrolidone Regional Insights

By region, the research provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American Polyvinylpyrrolidone market will dominate this market, owing to Chemical scientific and technological advancements and industry-changing technologies contributing to market growth in this area.

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

Figure 2: Polyvinylpyrrolidone Market Share by Region 2022 (USD Billion)Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Europe region’s Polyvinylpyrrolidone market is expected to grow and expand significantly during the projected timeframe due to the l Production demand for diverse components increasing as demand rises from prominent original equipment manufacturers, boosting the market growth. Further, the German Polyvinylpyrrolidone market holds the largest market share, and the UK Polyvinylpyrrolidone market is expected to grow and expand rapidly in the European region during the projected timeframe.

The Asia-Pacific Polyvinylpyrrolidone Marketaccounts for the second-largest market share. This is due to rising industrialization and export promotion attempts by developing nations which will boost overall market growth. Moreover, China’s Polyvinylpyrrolidone market dominates the market share, and the Indian Polyvinylpyrrolidone market is expected to grow and expand steadily in the Asia-Pacific region during the projected timeframe.

Polyvinylpyrrolidone Key Market Players & Competitive Insights

Leading market players invested heavily in research and Development (R&D) to scale up their manufacturing units and product lines, which will help the Polyvinylpyrrolidone market grow worldwide. Market participants are also undertaking various organic or inorganic strategic approaches to strengthen and expand their footprint, with important market developments including new product portfolios, contractual deals, mergers and acquisitions, capital expenditure, higher investments, and strategic alliances with other organizations. Businesses are also coming up with marketing strategies such as digital marketing, social media influencing, and content marketing to increase their scope of profit earnings. The Polyvinylpyrrolidone industry must offer cost-effective and sustainable options to survive in a highly fragmented and dynamic market climate.

Manufacturing locally to minimize operational expenses and offer aftermarket services to customers is one of the key business strategies organizations use in the Polyvinylpyrrolidone industry to benefit customers and capture untapped market share and revenue. The Polyvinylpyrrolidone industry has recently offered significant advantages to pharmaceuticals and cosmetics. Moreover, more industry participants are utilizing and adopting cutting-edge technology has grown substantially. Major players in the Polyvinylpyrrolidone market, including Ashland (U.S.), BASF SE (Germany), Zhangzhou HuaFu Chemical Co., Ltd. (China), Hangzhou Motto Science & Technology Co., Ltd. (China), Shanghai Yuking Water Soluble Material Tech Co., Ltd (China), Alfa Aesar, Thermo Fisher Scientific (U.S.), Merck KGaA (Germany), The Dow Chemical Company (U.S.), Jh Nanhang Industrial Co., Ltd (China), and NIPPON SHOKUBAI CO., LTD (Japan), is attempting to expand market share and demand by investing in R&D operations to produce sustainable and affordable solutions.

HARKE Pharma GmbH aids with medicinal product applications and procedures. The company supplies medicinal raw ingredients for covering, tableting, the ability to dissolve liquids, and granulation operations. They also provide management of the supply chain. They stand for over forty years of assisting clients in creating and optimizing new dosage forms by providing significant technical assistance, complemented by a diverse selection of specialized excipients and chosen APIs. Harke Pharma's sales will be increased through cooperation with BOAI NKY in June 2021. The two businesses will operate together in Russia and other CIS nations. The collaboration would aid Harke Pharma clients in Eastern Europe.

JARCHEM is an international manufacturer and vendor of one-of-a-kind specialized chemicals and natural substances. It is a pioneer in the expanding trend towards natural ingredients, generating useful, consumer-conscious, and ecologically friendly substances from vegetation, substance, and fermented sources. They were bought by Vertellus, a significant distributor of specialty chemicals globally, in December 2021. The merger would allow Vertellus and Jarchem to broaden their eco-friendly component offerings into new markets and areas. The acquisition will also assist in expanding geographically and boost the client base.

Key Companies in the Polyvinylpyrrolidone market include

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  Ashland (U.S.)

  
  


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  BASF SE (Germany)

  
  


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  Zhangzhou HuaFu Chemical Co. Ltd. (China)

  
  


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  Hangzhou Motto Science & Technology Co. Ltd. (China)

  
  


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  Shanghai Yuking Water Soluble Material Tech Co. Ltd (China)

  
  


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  Alfa Aesar

  
  


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  Thermo Fisher Scientific (U.S.)

  
  

Polyvinylpyrrolidone Industry Developments

October 2022: By the Times of India, the FMCG industry is on track to expand by USD 310.5 billion between 2022 and 2026, owing primarily to the increased use of packaged food items.

December 2021: Jarchem Innovative LLC was bought by Vertellus, a significant distributor of specialty chemicals globally, in December 2021. The merger would allow Vertellus and Jarchem to broaden their eco-friendly component offerings into new markets and areas. The acquisition will also assist in expanding geographically and boost the client base.

April 2023: A company called PVP Bio announced that it had received FDA approval for a new PVP-based drug delivery system.May 2023: A study published in the journal "Nature Materials" found that PVP could be used to create new types of electronic devices.June 2023: A team of researchers from the University of California, Berkeley, developed a new way to synthesize PVP that could make it more affordable and accessible.

Polyvinylpyrrolidone Market Segmentation

Polyvinylpyrrolidone Grade Outlook

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  PVP K-15

  
  


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  PVP K-30

  
  


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  PVP K-60

  
  


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  Others

  
  

Polyvinylpyrrolidone Application Outlook

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  Pharmaceuticals

  
  


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  Cosmetics

  
  


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  Food & Beverage

  
  


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  Adhesives

  
  


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  Others

  
  

Polyvinylpyrrolidone Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


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


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


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America