Rising demand for Polyvinyl Alcohol (PVA) in the packaging industry is driving market revenue growth.

VANCOUVER, BC, CANADA, May 8, 2023 /EINPresswire.com/ -- The global Polyvinyl Alcohol (PVA) market size reached USD 998.21 million in 2022 and is expected to register a revenue CAGR of 6.2% during the forecast period, according to latest analysis by Emergen Research. Rising demand for PVA in the packaging industry is a major factor contributing to revenue growth of the market. Polyvinyl Alcohol (PVA) has high strength, transparency, and water-solubility which make it suitable for use in various packaging applications such as food packaging, medical pharmaceutical packaging, and eco-friendly packaging. Many Fast-Moving Consumer Goods (FMCG) companies are significantly procuring Polyvinyl Alcohol (PVA) for packaging food and beverage products. Consumer awareness regarding sustainable product packaging further accelerates revenue growth of the market. In April 2022, Shiseido, a Japanese multinational cosmetics firm, adopted environmentally friendly and sustainable product packaging for consumers. Shiseido has used Polyvinyl Alcohol (PVA), starch, and glycerin in its eco-friendly clear bag packaging. These innovative product development tactics are increasing market expansion.

Based on historical data from 2017 and 2018, a thorough projection is given till 2027. Profiles of both established and up-and-coming players are also provided, together with information on their business strategies, product portfolios, strategic alliances, and business expansion plans. Due to travel restrictions and the effects lockdowns will have on supply and demand, the current COVID-19 pandemic is anticipated to have an influence on the growth of the Polyvinyl Alcohol (PVA) sector. Polyvinyl Alcohol (PVA) is believed to be one of the industries that has been negatively impacted by the COVID-19 epidemic. The sector's growth would be further hampered by the recession in the economy and the dynamic shifts in demand. The investigation of the COVID-19 pandemic's effects on the Polyvinyl Alcohol (PVA) sector as a whole is covered in the report.

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Key Market Competitors Profiled in the Report:

BASF SE, Dow Chemical Company, Mitsubishi Chemical Corporation, LyondellBasell Industries Holdings B.V., Merck KGaA, Nouryon Chemicals Holding B.V., Kuraray Europe GmbH, Shin-Etsu Chemical Co., Ltd., Wacker Chemie AG, Sekisui Specialty Chemicals America, LLC, Hanwha Solutions Chemical Division Corporation, Liwei Chemical Co. Ltd, SNP, Inc. and among others

Some Key Highlights From the Report

The food packaging segment accounted for the largest revenue share in 2022. Polyvinyl Alcohol (PVA) is utilized extensively as a food packaging material due to its biodegradability, non-toxicity, ease of processing with water, high tensile strength, and good film-forming properties. The rising demand for environmentally friendly packaging options and heightened consumer awareness about food safety are driving the growth of this sector.

The packaging segment accounted for the largest revenue share in 2022. Polyvinyl Alcohol (PVA) plays an important role in producing packaging products. Its ability to be molded into different shapes and sizes, as well as being combined with other materials to improve performance, make it a versatile material. Its use in food packaging is popular due to its moisture resistance, extending the shelf life of food. The need for safe and non-toxic packaging solutions is driving revenue growth of the Polyvinyl Alcohol (PVA) market.

The Polyvinyl Alcohol (PVA) market in Asia Pacific accounted for the largest revenue share in 2022. Significant demand for Polyvinyl Alcohol (PVA) in the packaging industry is driving market growth in this region. The Asia Pacific region is a major center for the production of Fast-Moving Consumer Goods (FMCG) and consumer durable products. Many industries are significantly utilizing PVA to manufacture packaging materials.

In August 2020, Wacker Chemie AG, a German multinational chemical company, partnered with H.M. Royal, Inc. to accelerate the production and distribution of Liquid Silicone Rubber (LSR) and High Consistency Rubber (HCR) specifically designed and developed for medical use. The partnership aims to increase the output of the Silpuran product line, which comprises a broad selection of High Consistency Rubber (HCRs) and Liquid Silicone Rubber (LSRs) and provides a comprehensive solution to meet the needs of various industries that use silicone rubber in their processes.

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This market is segmented based on Types, Applications, and Regions. The growth of each segment provides accurate forecasts related to production and sales by Types and Applications, in terms of volume and value for the period between 2020 and 2028. This analysis can help readers looking to expand their business by targeting emerging and niche markets. Market share data is given on both global and regional levels. Regions covered in the report are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Research analysts assess the market positions of the leading competitors and provide competitive analysis for each company. For this study, this report segments the global Polyvinyl Alcohol market on the basis of product, application, and region:

Polyvinyl Alcohol Market Segmentation

Grade Outlook (Revenue, USD Million; 2019-2032)

Partially hydrolyzed

Fully hydrolyzed

Application Outlook (Revenue, USD Million; 2019-2032)

Food packaging

Detergent Packaging

Agrochemical packaging

Laundry bags

Embroidery

Others

End-Use Outlook (Revenue, USD Million; 2019-2032)

Packaging

Textile

Paper and Pulp

Pharma and Medical

Adhesives

Construction

Others

Regional Analysis of the Polyvinyl Alcohol Market:

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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Key Objectives of the Report:

Analysis and estimation of the Polyvinyl Alcohol market size and share for the projected period of 2022-2032

Extensive analysis of the key players of the market by SWOT analysis and Porter’s Five Forces analysis to impart a clear understanding of the competitive landscape

Study of current and emerging trends, restraints, drivers, opportunities, challenges, growth prospects, and risks of the global Polyvinyl Alcohol market

Analysis of the growth prospects for the stakeholders and investors through the study of the promising segments

Strategic recommendations to the established players and new entrants to capitalize on the emerging growth opportunities

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About Emergen Research

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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