Polyvinyl Alcohol (PVA) Market Is Likely To Up Demand At A USD 1,648.9 Million By 2030
Posted by Neha Bora on June 9th, 2023
San Francisco, 9 June 2023: The Report Polyvinyl Alcohol (PVA) Market Size, Share & Trends Analysis Report By End-use (Paper, Food Packaging, Construction, Electronics), By Region (North America, Europe, Asia Pacific), And Segment Forecasts, 2023 - 2030
The global polyvinyl alcohol market is anticipated to reach USD 1,648.9 million by 2030 registering a CAGR of 6.4% according to a new report by Grand View Research, Inc. The increasing need for bio-based PVA products is expected to be a key factor driving the global industry growth over the forecast period. Polyvinyl alcohol (PVA), a synthetic water-soluble polymer, has been the key ingredient used in the formulation process in various end-use industries. The key end-use industries include food packaging, construction, electronics, coatings, printing, textile, cosmetics, and paper. PVA is mainly driven by the demand from the food packaging industry, as it is a material with better water solubility and biodegradable properties.
There are lesser-known substitutes available for PVA on account of its properties including ethanol and water solubility, coupled with resistance to grease and oil. However, stringent regulations hindered product usage in various application segments. The National Institute for Occupational Safety and Health (NIOSH) described several preventive and environmental safety measures after PVA exposure. The generation of solid waste can affect human health, especially children, who are more susceptible to these hazardous pollutants.
On the basis of end-uses, the industry has been further categorized into food packaging, paper, construction, electronics, and others. The food packaging segment dominated the global industry in 2022 with a significant market growth rate. The increasing need for biocompatible and nontoxic packaging solutions in the food & beverage industry is expected to drive the PVA industry growth.
Growing hygiene consciousness among consumers coupled with rising standard of living is propelling demand for detergents. In addition, growth witnessed by the hospitality industry is also contributing significantly to the production of detergents. This, in turn, supplementing overall demand for PVA in form of film in the detergent packaging industry.
The rising solid waste volumes in this region are projected to fuel the demand for PVA in packaging applications over the forecast period. In addition, rising innovation in packaging, and consumer demand for safety, convenience, technology, and sustainability, are expected to fuel the regional market growth over the forecast period.
Access Research Report of Polyvinyl Alcohol (PVA) Market @ https://www.grandviewresearch.com/industry-analysis/polyvinyl-alcohol-market
Polyvinyl Alcohol Market Report Highlights
List of Key Players in the Polyvinyl Alcohol (PVA) Market
Access Press Release of Polyvinyl Alcohol (PVA) Market @ https://www.grandviewresearch.com/press-release/global-polyvinyl-alcohol-pva-market
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About the AuthorNeha Bora
Joined: September 16th, 2019
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