Global Polyvinyl Alcohol Market (2021 to 2026) – Growth, Trends, COVID-19 Impact and Forecasts – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Polyvinyl Alcohol (PVA) Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)” report has been added to ResearchAndMarkets.com’s offering.

The Global Polyvinyl Alcohol (PVA) Market is projected to register a CAGR of over 6% during the forecast period (2021-2026).

Companies Mentioned

• Anhui Wanwei Group
• Astrra Chemicals
• Chang Chun Group
• Japan Vam & Poval Co. Ltd
• Kuraray Europe GmbH
• Merck KGaA
• Mitsubishi Chemical Corporation
• Polysciences Inc.
• Sekisui Chemical Co. Ltd
• SNP, Inc.

Key Market Trends

Food Packaging to Dominate the Market

• In the food packaging industry, PVA is majorly used as a binding and coating agent. As a film coating agent, it is used in applications, where moisture barrier or protection properties are required.
• PVA protects the active food ingredients from moisture, oxygen, and other environmental components, while simultaneously masking their taste and odor. It allows for easy handling of finished products and facilitates ingestion and swallowing. Furthermore, the viscosity of PVA allows for the application of the PVA coating agents to tablets, capsules, and other forms to which film coatings are typically applied at relatively high solids contents.
• Emerging new demographic conditions, new customer demands, growing purchasing powers in the emerging markets, increasing emphasis on sustainable, easy-to-use packaging, and out-of-home consumption trends are expected to drive the food packaging market in the future.
• The global food packaging market was valued at about USD 305 billion in 2019 and is estimated to reach about USD 406 billion by 2024, with a CAGR of about 5.8%, which is likely to stimulate the demand for the polyvinyl alcohol market.
• The Asia-Pacific region is expected to be the fastest growing market for the food packaging industry, while emerging economies, such as Africa, are expected to register significant growth through the forecast period.
• The food and beverage industry is an essential part of the US economy. E-commerce and delivery are also gaining popularity. With the high internet penetration rate and the rising demand for convenience, consumers are increasingly ordering groceries and other food products online. Services, such as Amazon Fresh, are increasing in number, allowing consumers to shop for fresh produce without leaving the house. Moreover, in New York, bakery manufacturing accounts for the most food and beverage processing plants, followed by wineries and animal slaughter and processing plants.
• According to the publisher, the US packaging industry was valued at USD 183.92 billion in 2019, and it is expected to reach a value of USD 218.36 billion by 2025, at a CAGR of 4.1% over the forecast period, 2020-2025. This positive momentum is expected to drive the growth of the PVA market over the forecast period.

China to Dominate the Asia-Pacific Region

• In Asia-Pacific, China is the largest economy, in terms of GDP. In 2019, the country witnessed about 6.1% growth in its GDP, despite having trade disturbance caused, due to its trade war with the United States. Currently, the Chinese economy has been severely hit by the COVID-19 outbreak. According to IMF, the country’s economy is expected to slow down to 1.9% in 2020 while recovering to 8.2% growth in 2021. Globally, China dominated the PVA market, with the growing country’s construction and textile industry.
• China ranks at the top in the global textile manufacturing industry. In 2020, Chinese textile and apparel exports were valued at about USD 291.2 billion, with a growth rate of about 9.5% year on year, of which textile exports were valued at USD about 153.8 billion, up by about 29% year on year, and the clothing exports were valued at about USD 137.4 billion, down by 6.4% year on year, thus significantly enhancing the market’s growth for polyvinyl alcohol.
• The textile industry in China is going through a tough restructuring, with enormous production capacity, oversupply at home, high labor costs, and rising global protectionism, which eroded its competitiveness. Still, the country continues to dominate, both in the textile manufacturing industries and continue being the major exporter of textiles through the years to come.
• In January 2020, China had produced about 4.15 billion meters of clothing fabric and reached 3.81 billion meters in the month of December 2020, with consistent production above three billion meters throughout the year 2020, which in-turn impacted the market demand for the polyvinyl alcohol (PVA) market.

Key Topics Covered:

1 INTRODUCTION

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

4.1 Drivers

4.1.1 Increasing Use in the Construction Industry

4.1.2 Growing Food Packaging Industry

4.2 Restraints

4.2.1 Hazardous Health Effects While Manufacturing

4.2.2 Unfavorable Conditions Arising due to the Impact of COVID-19

4.3 Industry Value-Chain Analysis

4.4 Porter’s Five Forces Analysis

4.5 Technological Snapshot

4.6 Trade Analysis

4.7 Price Trend Analysis

4.8 Regulatory Policies

5 MARKET SEGMENTATION

6 COMPETITIVE LANDSCAPE

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

For more information about this report visit https://www.researchandmarkets.com/r/de1j4v

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