The global polyvinyl alcohol market size was valued USD 682.1 million in 2021 and growing at a CAGR of 7.2% during the forecast period 2022-2028. Glance our 200 slides market research and competitive intelligence research report, 25 Tables and 65 Figures and other qualitative sections with an in-depth TOC on "Global Polyvinyl Alcohol Market: By Grade (Fully Hydrolized, Partially Hydrolized, Sub-Partially Hydrolized, Low Foaming Grades, and Others (Tactified Grades, Fine Particle Grades)), By End User (Paper, Food Packaging, Construction, Electronics, and Others), and Geography - Global/Region/Country Forecast to 2028",
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Increase in Constructional Activities Drives the Global Polyvinyl Alcohol Market
Polyvinyl alcohol is hugely used in cement and sealants as a stabilizer to strengthen their solidity and fluidic properties reducing the drying time for the concrete surface. Huge investments in the service as well as manufacturing segments of the countries in Asia Pacific have provided several opportunities for the key players of the global polyvinyl chloride market.
There are several factors that are anticipated to drive the polyvinyl alcohol market growth over the forecast period such as growing demand in electronics segment for polyvinyl alcohol, huge demand for bio based packaging as well as increasing investments in constructional activities. Moreover, polyvinyl alcohol is utilized in several applications in different industries like textiles, medical, construction, paper and electronics sector. Growing demand for bio-degradable products is another market driving factor. Industry players of the market are giving more focus on following strategies such as launching new products mergers, acquisitions and collaborations to reinforce their place and expand their business in the market. Increasing research and development activities are also projected to fuel the market growth. Moreover, huge adoption of polyvinyl alcohol in the disposable packaging manufacturing for dyes and detergents is also impelling the market growth. But, the harmful properties of Polyvinyl Alcohol are evaluated to hinder the market growth.
Asia Pacific is Dominating the Global Polyvinyl Alcohol Market
Asia Pacific is dominating the market and is anticipated to witness significant CAGR rate. There are several factors that are projected to impel the market growth in Asia Pacific region such as fast urbanization in economies of this region such as Indonesia, China, India and Vietnam and novel advancements taking place in construction industry. The packaging trends in the emerging countries of the region have recorded huge changes like increase in the usage of bio-degradable materials and preventing pollution, which are expected to boost the market growth. Another major factor contributes towards the market growth is serious action taken by the India government against the products packaging and mandated to make use of bio-degradable products in the market.
Some of the major key players working in the global polyvinyl alcohol market are Sinopec Sichuan Vinylon, Anhui Wanwei Group Co., Ltd., 3M Company, BASF SE, Nippon Gohsei, Polysciences, Inc., Sekisui Chemical Co. Ltd., Kuraray Co. Ltd., I. du Pont de Nemours and Company, Nippon Synthetic Chemical Industry Co., Eastman Chemical Company and Bostik.
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