H1 2023: In H1 2023, Polyvinyl Alcohol (PVOH) market was pessimistic in the Asia Pacific region. In China, the PVOH market had a hazy start in beginning of 2023. Due to a decline in procurement from downstream industries such as textile and paper industries. There was ample material availability amid weak procurement rates. Production rates have remained stable, availing a firm inflow of PVOH in the spot market. Purchasing activities from Asian and European countries toned down amid weakened demand which resulted in fewer offtakes from the PVOH market, leaving market participants to clear their stocks at low prices. The price dynamic didn’t turn optimistic till June in Asian nations. The falling pricing of PVOH could be explained by the steady decrease in feedstock VAM prices. In addition, because of the uncertainties surrounding the world economy, demand from the overseas market decreased. Furthermore, a general gloomy perspective of the market was fostered by China's delayed economic recovery and deflationary issues. In addition, the plants were ran slowly due to the weak downstream demand. On the other hand, Due to weak market fundamentals, Polyvinyl Alcohol (PVOH) prices in the North American region resumed their bearish rally in the first quarter of 2023. The feedstock VAM prices decreased in the meantime, which reduced the cost pressure on the PVOH market. Because of steady operating rates, local suppliers had enough inventory in North America. In North America, prices hike in April and then fell from mid-May. This resulted from the feedstock VAM’s steadily falling pricing.
The global Polyvinyl Alcohol (PVOH) market stood at approximately 1400 thousand tonnes in 2022 and is anticipated to grow at a CAGR of 2.8% during the forecast period until 2032.
Polyvinyl alcohol (PVOH) is a versatile polymer. Vinyl acetate monomer (VAM) is employed as the primary ingredient used to make PVOH. PVOH is an important chemical in the production of adhesives, coatings, and films because of its outstanding film-forming properties. PVOH is used as a sizing agent to enhance the handling and weaving qualities of textiles. PVOH is used in the packaging industry to create water-soluble materials that minimize waste and their negative effects on the environment. The food industry uses polyvinyl alcohol in a variety of ways as a coating and binding agent. In situations where moisture barrier/protection qualities are required, it is used as a film coating agent. PVOH is also used in paper sector. PVOH enhances water-based ink's absorption on inkjet paper. The paper's surface is penetrated by the ink, which locks in colours without bleed through. PVOH serves as a protective layer for the threads, reducing breakage while weaving. It reduces the chance of shrinking and readies the yarn for quick machine weaving. Additionally, it increases flexibility and makes the finished textile more resistant to abrasion. The delivery of active chemicals in a variety of skincare products, including as cleansers and moisturizers, is improved by polyvinyl alcohol. By facilitating quick skin penetration through the skin without triggering allergies or discomfort, it increases the effectiveness of each ingredient. Additionally, it has the ability to bind hair dye and peel-off masks, strengthening the adhesion of tight-grip cosmetics. PVOH is helpful for domestic cleaning items in addition to skincare, cosmetics, and haircare products. The increasingly popular washing pods are contained in a PVOH-based, water-soluble film. Additionally, it permits a high concentration of active ingredients and aids in scent retention.
The major driver of the global PVOH market is the textile sector. Because of its toughness, smoothness, wear resistance, adherence to fibre, permeability, hairiness, and compatibility with other slurry, among other qualities, PVOH is widely employed in the textile industry. In the textile sector, PVOH is primarily utilized as fabric treatment and textile sizing aids. Improved weaving performance, as well as an improved fabric's look and feel, are the goals of warp sizing. High adhesion, good wear resistance, resistance to deterioration, and viscosity retention are among the qualities of PVOH textile size. Thus, the growing demand of PVOH by the textile sector is likely to contribute the global PVOH market expansion. Also, significant need for environmentally friendly packaging like PVOH is rising, acting as a driving factor. A number of variables, including the growing customer base, rising package costs, and sustainability in the key markets of the United States, China, and India, are driving demand for packaging in a variety of applications. Owing to these reasons, the global Polyvinyl Alcohol market is likely to reach approximately 1840 thousand tonnes in 2032.
In terms of geography, the Polyvinyl alcohol acid market is largest in the Asia Pacific region. For the duration of the projection, this trend is anticipated to persist. It is anticipated to grow at the quickest rate between 2024 and 2032. Over the course of the forecast period, rising demand for PVOH from a variety of end-use sectors, most notably textile, is anticipated to drive the segment's expansion. Over the course of the forecast period, customer demand for convenience, safety, technology, and sustainability as well as growing package innovation are anticipated to drive growth in the North American market.
Based on the end-user industry, the global Polyvinyl Alcohol market is divided into Textile, Adhesives, Polymerization Aids, Pigment Binder, and Others. Among these, Textile sector is dominating the global Polyvinyl Alcohol market and held about 44% of the global Polyvinyl Alcohol market in 2022 and is anticipated to prevail the similar trend in the upcoming years.
Major players in the Global Polyvinyl Alcohol market are Wacker Chemie AG, E. I. du Pont de Nemours and Company, Nippon Synthetic Chemical Industry Co., Eastman Chemical Company, Sekisui Chemical Co. Ltd., Kuraray Co. Ltd., Sinopec Sichuan Vinylon, Anhui Wanwei Group Co., Ltd, Chang Chun Petrochemical Co. Ltd., Kuraray Europe GmbH.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2032
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Objective of the Study:
• To assess the demand-supply scenario of Polyvinyl Alcohol which covers production, demand and supply of Polyvinyl Alcohol market in the globe.
• To analyse and forecast the market size of Polyvinyl Alcohol
• To classify and forecast Global Polyvinyl Alcohol market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Polyvinyl Alcohol market in the globe.
To extract data for Global Polyvinyl Alcohol market, primary research surveys were conducted with Polyvinyl Alcohol manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Polyvinyl Alcohol market over the coming years.
ChemAnalyst calculated Polyvinyl Alcohol demand in the globe by analyzing the historical data and demand forecast which was carried out considering the production of raw material to produce Polyvinyl Alcohol. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Polyvinyl Alcohol manufacturers and other stakeholders
• Organizations, forums and alliances related to Polyvinyl Alcohol distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Polyvinyl Alcohol manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Polyvinyl Alcohol market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2022
1400 thousand tonnes
Market size Volume in 2032
1840 thousand tonnes
Growth Rate
CAGR of 2.8% from 2023 to 2032
Base year for estimation
2023
Historic Data
2015 – 2022
Forecast period
2024 – 2032
Quantitative units
Demand in thousand tonnes and CAGR from 2023 to 2032
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process.
Segments covered
By End-Use: (Textile, Adhesives, Polymerization Aids, Pigment Binder, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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What was the net market size of Polyvinyl Alcohol in terms of volume in 2022?
Ans:
The global market size of Polyvinyl Alcohol has reached approximately 1400 thousand tonnes in 2022.
Q2.
Which industry is the leading consumer of Polyvinyl Alcohol?
Ans:
Textile industry is the leading consumer of Polyvinyl Alcohol globally.
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