Aarkstore Enterprise announced latest Market Research Report Titled “Polyvinyl Alcohol Market - Global Industry Research Report and Forecast 2023”

Polyvinyl alcohol (PVOH) is produced by polymerization of vinyl acetate monomer followed by hydrolysis. PVOH finds application in various end-use industries such as food packaging, paper, textile, construction, coatings, and pharmaceutical. Polyvinyl alcohol exhibits resistance to moisture, therefore, it is predominantly used in the food packaging. Due to high water solubility and biodegradability, PVOH has increasingly been used in the packaging industry.

Increasing demand for sustainable packaging materials is driving the global polyvinyl alcohol market. With rising environmental scrutiny on plastic consumption, the biodegradable plastics are gaining more traction across the packaging industry, especially, food packaging. The rising popularity of packed foods among consumers with the changing lifestyle and an increasing number of the working population is propelling the demand for sustainable packaging materials. The properties of packaging materials play a vital role in the food packaging industry to enhance the shelf life of food products. Thus, PVOH is emerging as a choice of packaging material among the food packaging industry owing to its excellent oxygen barrier properties, solubility in water and biodegradability. Thus, increasing demand for packaged food among the consumers may, in turn, witness demand for sustainable packaging materials during the forecast period.

Market Segmentation

The polyvinyl alcohol market is categorized on the basis of type, application, and region. On the basis of the product type, the market is segmented into tocopherol, dimethicone, parabens, titanium dioxide, sodium lauryl sulfate, sodium laureth sulfate, formaldehyde, benzones, alcohols, isopropyl, glycerols, and others. Formaldehyde accounted for the largest market share in the polyvinyl alcohol and is expected to grow at a CAGR of 6.72% in terms of value over the forecast period.

On the basis of the application, the market is segmented into skincare, fragrance, hair care, color cosmetics, bath & shower, and others. Among these skin care accounted for the largest market share and is expected to reach approximately USD 4437.3 million by 2023.

Regional Analysis

Regionally, the polyvinyl alcohol market is spanned across five regions namely Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Among these, Asia Pacific emerged as the fastest growing market in 2017 and is expected to grow at a healthy CAGR of 5.45% during the review period. Growing applications with an increasing demand for polyvinyl alcohol in the textile industries is expected to boost market growth.

Europe emerged as the second largest region in the global polyvinyl alcohol market and is expected to reach USD 394.6 million by 2023. Increasing preference for biodegradable packaging materials over the traditional materials on the backdrop of stringent regulations in the region can be attributed to the demand for polyvinyl alcohol in the region.

Key Highlights

• Global polyvinyl alcohol market is projected to reach USD 1,769.2 million by 2023 at a healthy CAGR over the forecast period.
• Partially hydrolyzed polyvinyl alcohol accounted for the largest value share in the grades segment accounting for value market share of over 50% in 2017.
• Packaging as an end-user industry accounted for the largest market share and is expected to expand at a CAGR of 4.56% during the forecast period.
• The Asia Pacific is the largest and fastest growing market, which accounted for over 40% value share of the global polyvinyl alcohol market in 2017.

Key Players

Some of the Key Players operating in the global polyvinyl alcohol market are Merck KGaA (Germany), OCI COMPANY Ltd.(South Korea), The Nippon Synthetic Chemical Industry Co., Ltd.(Japan), Sekisui Chemical Co., Ltd. (Japan), KURARAY CO., LTD.(Japan), Anhui Wanwei Group.(China), Chang Chun Group.(Taiwan), Japan Vam & Poval Co.,Ltd.(Japan), and China Petroleum & Chemical Corporation (China) among others.

For more information or for report request, visit @ https://www.aarkstore.com/chemical-materials/1076753/global-polyvinyl-alcohol-pva-market-research-report-forecast-till-2023

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