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

• The food packaging segment dominated the global industry in 2022 and accounted for the maximum share of 32.4% of the overall revenue share.
• Asia Pacific led the global industry and accounted for a share of 53.6% of the overall revenue in 2022 with a CAGR of 5.8% from 2023 to 2030. Increasing demand for PVA from various end-use sectors mainly, paper, is expected to propel the segment growth over the forecast period.
• Prominent players operating in the polyvinyl alcohol (PVA) market are E. I. du Pont de Nemours and Company; Nippon Synthetic Chemical Industry Co.; Eastman Chemical Company; Sekisui Chemical Co. Ltd.; Kuraray Co. Ltd.; Sinopec Sichuan Vinylon; Anhui Wanwei Group Co., Ltd., and others

List of Key Players in the Polyvinyl Alcohol (PVA) Market

• I. du Pont de Nemours and Company
• Nippon Synthetic Chemical Industry Co.
• Eastman Chemical Company
• Sekisui Chemical Co. Ltd.
• Kuraray Co. Ltd.
• Sinopec Sichuan Vinylon
• Anhui Wanwei Group Co., Ltd.

Access Press Release of Polyvinyl Alcohol (PVA) Market @ https://www.grandviewresearch.com/press-release/global-polyvinyl-alcohol-pva-market