Global Polyvinyl Alcohol (PVA) Coatings Market Size (2024-2030)

The Global Polyvinyl Alcohol (PVA) Coatings Market was valued at USD 1,069.93 Million and is projected to reach a market size of USD 1,636.61 Million by the end of 2030. Over the forecast period of 2024-2030, the market is projected to grow at a CAGR of 6.26%.

Polyvinyl alcohol, sometimes known as PVA, is a man-made polymer that dissolves in water. Commercial production of it uses polyvinyl acetate. Strong biodegradability and resistance to grease, oils, and odors are two characteristics of the polyvinyl alcohol (PVC) variants used for film-forming and emulsifying. They are tasteless, odorless, and translucent, and are frequently employed as a moisture barrier in pharmaceutical items like pharmaceuticals and vitamins.

It can therefore be used in a variety of settings, including food packaging, the paper industry, electronics, building, coatings, printing, textile, and cosmetics. The global need for bio-based polyvinyl alcohol (PVA) products is another factor driving up demand. In addition to liquid and powder forms, polyvinyl alcohol is also accessible.

A non-crystalline or viscous chemical product, polyvinyl alcohol resin can be either natural or synthetic. To make other resins like polyvinyl butyral (PVB) and polyvinyl formal (PVF), it is frequently employed as a raw ingredient. Frequently, PVB, a plastic film with strong water resistance and adhesive characteristics, is used to laminate the safety glass in automobiles. PVF is typically used for wire insulation.

Global Polyvinyl Alcohol (PVA) Coatings Market Drivers:

The growing importance of safe and eco-friendly packaging is driving growth in the Polyvinyl Alcohol (PVA) Coatings Market.

Polyvinyl alcohol is a biodegradable, water-soluble polymer made from petroleum. Biodegradable polymers are becoming more and more popular in the packaging business, particularly for food packaging, as environmental criticism of plastic usage rises. Due to changing lifestyles and a rising working population, packaged meals are becoming more and more popular with consumers. As a result, there is an increase in demand for green packaging materials. Sustainable packaging for goods is in high demand because landfill space is becoming increasingly scarce and there are tight regulations governing its disposal.

The need for packaging in many applications is rising due to several factors, such as the expansion of the client base, an increase in the price per package, and demand in significant nations like the United States, China, and India. The development of several biodegradable packaging materials has recently attracted a lot of attention. PVA-based end-use products can biodegrade more quickly if they are constructed of natural polymers that are sustainable. One of the many synthetic biodegradable polymers that are frequently used is PVA material because it degrades under various microbiological circumstances. Polyvinyl alcohol is used in numerous sectors, including those that produce ceramics, textiles, paints, paper, and wood. Multiple grades are necessary for diverse end-use sectors, which is driving up demand for PVA.

High use of polyvinyl alcohol coating in chemical industries is driving growth in the Polyvinyl Alcohol (PVA) Coatings Market.

The market is experiencing revenue growth due to the growing industrial use of Polyvinyl Alcohol (PVA) as a specialty chemical in numerous sectors. Small amounts of polyvinyl alcohol (PVA) are utilized in a variety of industries, including paper and pulp, construction, personal care, and pharmaceuticals, to perform particular tasks. When compared to commodity chemicals, which are frequently used in huge numbers for a variety of industrial processes, they are typically high value, highly refined, and designed for specific uses. UNIDO, the United Nations Organization for industrial development, estimates that industrial production rose globally by 9.4% in 2021. In addition, Polyvinyl Alcohol (PVA), a synthetic polymer that is water soluble, is frequently utilized as a support material in 3D printing. Polyvinyl Alcohol (PVA) use in 3D printing is anticipated to increase growth over the forecast period

Global Polyvinyl Alcohol (PVA) Coatings Market Challenges:

However, the market for polyvinyl alcohol (PVA) is severely constrained by the rising cost of manufacture and the accessibility of substitutes. Vinyl acetate monomer and polyvinyl acetate are the raw materials needed to produce PVAs, which go through various operational stages of manufacturing, processing, refining, and storage. These steps add capital requirements to the production process and may raise production costs. Additionally, the accessibility of substitutes such as calcium stearate poses a serious risk to the expansion of market revenue.

Global Polyvinyl Alcohol (PVA) Coatings Market Opportunities:

The need for polyvinyl alcohol as an emulsifier and dispersant is anticipated to drive market expansion. In addition, polyvinyl alcohol is used in vinyl-based emulsions in many different sectors, including paints.

The market for polyvinyl alcohol is benefited by applications in construction, textiles, re-dispersible powders, and coatings. Since, polyvinyl alcohol is a crucial chemical component of construction paint & coating materials, rising construction activity is predicted to create significant prospects in the polyvinyl alcohol market.

In the pharmaceutical sector, polyvinyl alcohol is frequently used to coat medicine tablets. Its usefulness in pharmaceutics and other healthcare applications has been proven by its wide range of chemical properties. As a result, there is a growing market for PVA solutions.

COVID-19 Impact on Global Polyvinyl Alcohol (PVA) Coatings Market:

The COVID-19 epidemic in 2020 affected the market. When making paper, polyvinyl alcohol is utilized in the co-binder, optical brightener, and precision sizing processes at the press. The pandemic had a detrimental impact on the paper manufacturing industry; as a result of the decline in demand from various paper-consuming industries, such as newspapers, market demand also fell. However, the market for polyvinyl alcohol was stimulated by the huge rise in packaging utilization in the food industry.

Global Polyvinyl Alcohol (PVA) Coatings Market Recent Developments:

• In January 2023, the development of the polymer dispersions production facility in Merak, Indonesia, was funded by an investment by the German multinational chemical manufacturing company BASF SE. In the ASEAN region, where major paper and board producers are situated, the expansion will aid in addressing the growing demand for luxury packaging. This growth further enhances BASF's reputation as a premier and trusted provider in this area.

• In February 2020, to fulfill the rising demand for PVA films used for unit dose detergents, pharmaceuticals, and other products, Kuraray announced the opening of a new MonoSol production facility for polyvinyl alcohol water-soluble films.

• In November 2021, Kuraray Poval launched its new sales team in Iberia. Products like Poval, Elvanol, Exceval, and Mowiflex that are produced from PVOH and Kuraray will be sold and marketed by the company.

POLYVINYL ALCOHOL (PVA) COATINGS MARKET REPORT COVERAGE:

Global Polyvinyl Alcohol (PVA) Coatings Market Segmentation: By Grade

• Partially hydrolyzed

• Fully hydrolyzed

In 2022, the partially hydrolyzed segment's revenue share was the highest. Due to its high bonding strength, superior film-forming ability, and water solubility, partially hydrolyzed polyvinyl alcohol (PVA) is widely used in a variety of industries. This makes it a suitable material for use in industries like paper and pulp, textiles, construction, and other fields. PVA that has undergone partial hydrolysis has a variety of applications, including use in suspension polymerization, contact lens manufacturing, and eye drops that act as cartilage substitutes. The segment's sales growth is also being greatly aided by the increased demand for partially hydrolyzed PVA for eco-friendly and sustainable materials.

Global Polyvinyl Alcohol (PVA) Coatings Market Segmentation: By Application

• Food packaging

• Detergent Packaging

• Agrochemical packaging

• Laundry bags

• Embroidery

• Others

In 2022, the segment that generated the most income was food packaging. Due to its biodegradability, non-toxicity, water processability, tensile strength, and good film-forming ability, polyvinyl alcohol (PVA) is frequently utilized as food packaging films. Rapid demand for eco-friendly packaging options and rising customer concern about food safety are factors in the segment's revenue growth. Additionally, throughout the course of the forecast period, the segment's revenue growth is anticipated to be fueled by the addition of antimicrobial and antioxidant components to creative food packaging. Antimicrobial and antioxidant substances aid in lowering the oxygen content of packaging, which slows the growth of germs. These packaging technology innovations are being adopted widely by the food and beverage sectors, which is anticipated to boost market revenue growth throughout the forecast period.

Global Polyvinyl Alcohol (PVA) Coatings Market Segmentation: By End-Use

• Packaging

• Textile

• Paper and Pulp

• Pharma and Medical

• Adhesives

• Construction

• Others

In 2022, the packaging segment had the biggest revenue share. PVA, often known as polyvinyl alcohol, is an essential ingredient in the creation of packaging materials. PVA is simple to mold into different sizes and forms, and it can be combined with other substances to improve performance. Due to its ability to withstand moisture, polyvinyl alcohol (PVA) is frequently used in food packaging for products with extended shelf lives. The demand for safe and non-toxic packaging options is causing the market to expand more quickly. PVA is buying more and more medicinal items and packaging solutions. Due to PVA's biodegradability and consumer awareness of the use of eco-friendly product packaging, the personal care, beauty, and cosmetics industries are also embracing it. This is increasing the segment's revenue growth.

Global Polyvinyl Alcohol (PVA) Coatings Market Segmentation: By Region

• North America

• Europe

• Asia Pacific

• Middle East and Africa

• South America

In 2022, Asia Pacific dominated the global industry and accounted for 53.6% of total sales. Throughout the projected period, this tendency is anticipated to remain the same. The fastest CAGR is anticipated to occur between 2023 and 2030. Over the projected period, rising PVA demand from a variety of end-use industries, particularly paper, is anticipated to fuel the segment's expansion.

In terms of volume, Asia Pacific was followed by North America, which is anticipated to expand at a constant rate during the projection period. Over the projection period, it is anticipated that increasing solid waste levels in this region will drive up demand for PVA in packaging applications. Additionally, throughout the course of the forecast period, the growth of the regional market is anticipated to be fueled by rising consumer demand for safety, convenience, technology, and sustainability, as well as rising package innovation.

Global Polyvinyl Alcohol (PVA) Coatings Market Key Players:

1. E. I. du Pont de Nemours and Company

2. Nippon Synthetic Chemical Industry Co.

3. Eastman Chemical Company

4. Sekisui Chemical Co. Ltd.

5. Kuraray Co. Ltd.

6. Sinopec Sichuan Vinylon

7. Anhui Wanwei Group Co., Ltd.