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

Report Overview

The global polyvinyl alcohol (PVA) market size was estimated at USD 1,006.9 million in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 6.4% from 2023 to 2030. 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, 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.

The sustainable packaging of the products is in high demand, owing to stringent regulations for its disposal and declining landfill availability. The demand for packaging in various applications is fueled by several factors, such as the expansion of the consumer base, increase in cost per package, and sustainability in the major markets, such as the U.S., China, and India. The development of various biodegradable packaging materials has garnered attention in the recent past. Renewable natural polymers have been tested to enhance the biodegradation potential of PVA-based end-use products. Among the different biodegradable synthetic polymers, PVA material is extensively used owing to its biodegradability in various microbial environments. PVA has different applications, such as ceramic, textile, coatings, paper, and wood.

The various grades are useful for different end-use industries. In addition, similar grades of the product can also be used for various end-uses. This ability has augmented the product demand over the last few years. 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.

End-use Insights

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 and accounted for the maximum share of 32.4% of the overall revenue share. The increasing need for biocompatible and nontoxic packaging solutions in the food & beverage industry is expected to drive the industry growth. Thin and water-resistant food-grade PVA film is developed that prevents moisture formation.

Advantageous properties, such as good crosslinking density and moisture resistance, are expected to further fuel the growth of the market in this segment. In addition, PVA is also extensively used in the construction industry on account of its properties, such as better water solubility and particle size, adsorption capacity, cement pore solution viscosity, and static filtration of cement slurries. Construction is a diverse market that is expected to have robust growth due to the rapid infrastructural development in the region, especially in China, India, and Japan.

Regional Insights

On the basis of geographies, the industry has been further segmented into Asia Pacific, North America, Europe, MEA, and Central & South America. Asia Pacific led the global industry and accounted for a share of 53.6% of the overall revenue in 2022. This trend is expected to continue over the forecast period. It is projected to register the fastest CAGR 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.

Asia Pacific was followed by North America, in terms of volume, and is expected to grow at a steady growth rate over the forecast period. 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.

Key Companies & Market Share Insights

The global industry is highly competitive due to the presence of several well-established companies. These companies are emphasizing new product development, partnerships, and acquisitions with key players to increase their share and strengthen their competitive aspect. Some of the key players in the global polyvinyl alcohol market include:

• 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.

Polyvinyl Alcohol Market Report Scope

Global Polyvinyl Alcohol (PVA) Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For the purpose of this study, Grand View Research has segmented the global polyvinyl alcohol market report on the basis of end-use and region:

• End-use Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

  • Paper

  • Food Packaging

  • Construction

  • Electronics

  • Others

• Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

  • Europe

    • Germany

    • U.K.

  • Asia Pacific

    • China

    • Japan

  • Central & South America

    • Brazil

  • Middle East & Africa