Research Nester assesses the growth and market size of global polyvinyl alcohol which is anticipated to be on account of the robust growth of the chemical industry and the growing need for biodegradable raw materials in the packaging industry.
Research Nester’s recent market research analysis on “Polyvinyl Alcohol: Global Demand Analysis & Opportunity Outlook 2035” delivers a detailed competitors analysis and a detailed overview of the global polyvinyl alcohol in terms of market segmentation by grade, end-use industry and by region.
Growing Research & Development Spending in Pharmaceutical & Biomedical Sector to Promote Global Market Share of Polyvinyl Alcohol
The global polyvinyl alcohol is estimated to grow majorly on account of the increasing investment in R&D by pharma companies globally to develop new synthetic plastic polymers that are biocompatible and can be used in biomedical & biopharmaceutical and biotechnology applications including in neuroendovascular therapy, uterine fibroids, & pharmaceuticals, medicine. It was found that in 2019, pharmaceutical companies in the United States spent an average of nearly 25% of their revenue on R&D. Moreover, the widespread applications of PVA in making fibers for construction supplies, fishing gear, paper, cosmetics, industrial sprays, paints, and sealants, textile sizing, packaging materials, food additives, and others are further expected to push its demand by various industries worldwide.
Some of the major growth factors and challenges that are associated with the growth of global polyvinyl alcohol are:
Growth Drivers:
· Surge in Manufacturing Output Globally
· Rising Demand from Textile Industry
Challenges:
The lack of accurate information on PVOH’s effects on human and environmental health is developing concern about its utilization in many packaging and consumables industries is responsible for restraining the market growth of polyvinyl alcohol globally. Moreover, the price fluctuation of its raw material is also a major factor anticipated to hamper the global market size of polyvinyl alcohol.
By end-use industry, the global polyvinyl alcohol is segmented into paper, food packaging, construction, electronics, and others. The food packaging segment is to garner the highest revenue by the end of 2035 by growing at a significant CAGR over the forecast period. The segment growth can be attributed to the rising demand for packaged food, takeaways, online groceries, and other packaging food items along with the surging global GDP per capita as well as the increasing purchasing power of the middle-class population worldwide. The United States GDP per capita amounted to over USD 70,000 in 2021. Moreover, the increasing demand for convenient food products as well as their elevating production is further anticipated to boost the segment growth.
By region, North American polyvinyl alcohol is to generate the highest revenue by the end of 2035. This growth is anticipated by the rising consumption volume of paper in the region as well as the augmenting packaging industry coupled with growing demand for sustainable packaging amongst the mass population of the region. As per research, it was found that the consumption of paper and paperboard in the United States accounted for nearly 65.5 million metric tons in 2021.
Moreover, the rising investment in pharmaceutical research & development as well as the increasing demand for electronics is further expected to push its demand by various industries in the regional market.
This report also provides the existing competitive scenario of some of the key players of the global polyvinyl alcohol which includes company profiling of Mitsubishi Chemical Holdings Corporation, SNP, Inc., Sekisui Chemical Co. Ltd., Merck KGaA., Mitsubishi Chemical Corporation, Kuraray Europe GmbH, E. I. du Pont de Nemours and Company, Nippon Synthetic Chemical Industry Co., Eastman Chemical Company, Anhui Wanwei Group Co., Ltd., Sinopec Sichuan Vinylon Works, and others.
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