The global Polyvinyl Alcohol (PVA) Market Size is USD 1.01 Billion in 2022 and is projected to reach USD 1.7 Billion by 2032, with a compound annual growth rate (CAGR) of 6% during the forecast period. The market's revenue growth is primarily attributed to the increasing demand for PVA in various sectors such as packaging, textiles, paper, and adhesives. PVA, a synthetic polymer derived from vinyl acetate, is favored for its excellent film-forming properties, biodegradability, and low toxicity.
The packaging industry is the primary consumer of PVA, contributing significantly to the market revenue. The surge in demand for environmentally-friendly packaging materials is driving the utilization of PVA-based films and coatings, which offer effective moisture and oxygen barrier properties. PVA-based packaging films are used to produce water-soluble bags and pouches, widely employed in diverse industries such as detergents, agrochemicals, and food packaging.
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Polyvinyl Alcohol Market Segments:
The report on the polyvinyl alcohol market encompasses the following details:
Market Size: The market was valued at USD 1.01 Billion in 2022.
CAGR: The market is projected to have a CAGR of 6% from 2022 to 2032.
Revenue Forecast: The market is expected to reach USD 1.7 Billion in 2032.
Estimation Base Year: The base year for market estimation is 2022.
Historical Data: Historical data is available for the years 2020-2021.
Forecast Period: The forecast period covers the years 2022-2032.
Quantitative Units: Revenue is measured in USD Billion.
Coverage: The report includes revenue forecasts, company rankings, competitive landscape analysis, growth factors, and trends.
Segments Covered: The market is segmented by end-use outlook, including paper, food packaging, construction, electronics, and others.
Regional Scope: The report covers North America, Europe, Asia Pacific, Latin America, and the Middle East Africa regions.
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Polyvinyl Alcohol Market Strategic Developments:
- On 17 February 2022, Kuraray Co., Ltd. announced the acquisition of the PVOH film business from Sekisui Chemical Co., Ltd. This acquisition will expand Kuraray's product offerings in the polyvinyl alcohol market and strengthen its position as a leading PVA film manufacturer.
- In 2021, DuPont de Nemours, Inc. announced a collaboration with Silurian Materials to develop sustainable PVA-based products. This collaboration is aimed at creating products that are recyclable, biodegradable, and have a lower environmental impact than traditional PVA products.
- In 2020, Nippon Gohsei announced the expansion of its PVA production capacity at its plant in Japan. The expansion was aimed at meeting the increasing demand for PVA in various applications, including food packaging, papermaking, and construction.
- In 2019, Merkur Group announced the acquisition of Unitika Ltd.'s PVA business. This acquisition was aimed at expanding Merkur Group's product offerings in the polyvinyl alcohol market and strengthening its position as a leading PVA manufacturer.
- In 2021, Kuraray launched a new PVA resin called ‘Exceval PVA-E’, which is designed for use in water-soluble packaging and other applications. This PVA resin has improved water solubility and can be used in various temperatures and pH conditions.
- In 2020, Sekisui Chemical Co., Ltd. launched a new PVA film called ‘Magic Seal Film’, which is designed for use in food packaging. This film has high barrier properties, excellent clarity, and is easy to seal.
Polyvinyl Alcohol Market Competitive landscape:
The global polyvinyl alcohol market report features several prominent companies operating in the industry. These include:
- Kuraray Co., Ltd.
- Sekisui Chemical Co., Ltd.
- DuPont de Nemours, Inc.
- OCI Company Ltd.
- Merkur Group
- Nippon Gohsei
- Chang Chun Petrochemical Co., Ltd.
- Polysciences, Inc.
- Anhui Wanwei Group Co., Ltd.
- Silurian Materials
- Unitika Ltd.
These companies play a significant role in the polyvinyl alcohol market, contributing to its growth and development.
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