According to a new study published by Polaris Market Research the global Polyvinyl Alcohol (PVA) Market is anticipated to reach USD 1.39 billion by 2026.
Polyvinyl alcohol is a biodegradable polymer with distinct properties depending upon the degree of polymerization and hydrolysis. This polymer holds a significant market on account of its large number of end-use applications such as pigment binder in paper, sizing agents in textiles, adhesives, polymerization aids, and others. One another crucial application for the product includes its conversion to polyvinyl butyral, which is used in further in architectural and automotive applications.
Biodegradability is the most significant parameter that has driven the demand for polyvinyl alcohol (PVA) globally. Due to this factor, the product is most prefered for biodegradable packaging and green construction products. Rising awareness and increased consumer preference for healthy food packaging has substantially led the polyvinyl alcohol (PVA) market across many parts of the world. PVA can biologically degrade in microbial environment and has high resistace to moisture, thus impacting the demand for improved eco-friendly PVA.
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The supportive regulatory policies and principles for proper waste disposal with no harmful environmental impact has backed up the growth for the polyvinyl alcohol (PVA) market. Regulatory bodies suach as European Chemical Agency (ECHA) and National Institute of Occupational Safety and Health (NIOSH) have evidently defined the concentration levels of PVA in the environment for non-toxicity.
Polymerization aids and textile industry are two are most important end-uses for the polyvinyl alcohol followed by green construction materials. Also, the manufacturig technology has been enhanced from the standpoint of quality, scale of production, environment, and safety. PVA is produced from vinyl acetate monomer, which has over-supplied market with diversification in production of different vinyl-based polymers, differing with regions of the world.
Asia Pacific is the largest polyvinyl alcohol (PVA) market with China as the largest producing country globally. The country is expected to witness decent growth in for PVA in the next five years due to steadily growing fiber market, however, the growth will be slower as compared to the last five years. United States is another mature polyvinyl alcohol (PVA) market on account of large production polyvinyl butyral (PVB) resin, which is manufactured from PVA.
Western Europe also comprises of significant market for PVA mainly due to higher demand for PVB resin. Some of the new applications for PVA in this region include biodegradable thermoplastic polymers and ceramic binders, where the traditional applications are anticipated to recover and increase.
The global polyvinyl alcohol (PVA) market comprises of large number of companies. Some of the key market players include Eastman Chemical Company, Nippon Synthetic Chemical Industry Co., Sinopec Sichuan Vinolyn, Dow Dupont, Kuraray Co. Ltd, Sigma-Aldrich, and Anhui Wanwei Group Co., Ltd.