Polyvinyl Alcohol (PVOH) Market worth $5.0 billion by 2028 | Key players Mitsubishi Chemical Corporation, Merck Kgaa, Denka Company Ltd, Wacker Chemie AG

According to recent market research the "Polyvinyl Alcohol (PVOH) Market by Type (Fully hydrolysed, partially hydrolysed, PVOH hydrogels), application (PVB Resin, Adhesives and sealants, Textile, Paper, Building & construction, Packaging), and Region - Global Forecast to 2028", is projected to reach USD 5.0 billion by 2028, at a CAGR of 6.1% from USD 3.7 billion in 2023. The polyvinyl alcohol market is mainly driven by the demand for polyvinyl alcohol in various end-use industries, including textiles, paper, adhesive and sealants, building and construction, medical and personal care and packaging among others, coupled with the concerns for the environmental impact. Moreover, it is also driven by rapidly developing and emerging economies such as India and China.

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In the adhesive industry, partially hydrolysed PVOH is utilized in the formulation of adhesives that require a balance between water resistance and adhesive strength. These adhesives find use in applications such as wood bonding and packaging. Partially hydrolyzed PVOH is also utilized in the production of coatings and films that necessitate water resistance. By incorporating partially hydrolyzed PVOH, coatings and films can exhibit enhanced resistance to moisture, making them appropriate for applications where protection against water or humidity is essential. Additionally, the textile industry finds value in partially hydrolyzed PVOH for applications like warp sizing and fiber treatments, as it provides desired levels of water resistance and adhesion properties. These factors are driving its demand in the Polyvinyl alcohol market.

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The Asia Pacific area has one of the largest Polyvinyl Alcohol markets, with China, Japan, and India being the key consumers. This can be linked to the region's rapid development and rising consumer demand. Industries like packaging, building, and textiles boost Polyvinyl Alcohol demand in the Asia Pacific regions. Asia Pacific regions are also generating a lot of waste, it produces more than half of the world's plastic waste. Compared to other plastics Polyvinyl Alcohol has a higher sustainability factor and is biodegradable. This is also leading to its application in various industries.

The key players in the PVOH market are Kuraray Co Ltd (Japan), Anhui Wanwei Group Co Ltd (China), Chang Chun Petrochemicals Co Ltd (Taiwan), Ningxia Dadi Circular Development Corp Ltd (China), Sinopec Sichuan Vinylon Works (China), Sekisui Specialty Chemicals (Japan), Mitsubishi Chemical Corporation (Japan), Japan Vam and Poval Co Ltd (Japan), Merck Kgaa (Germany), Wacker Chemie AG (Germany), Denka Company Ltd (Japan).

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Kuraray is a market pioneer in functional materials and specialty chemicals. Its subsidiary Kuraray Europe GmbH, which was established in 1991, it is based in Germany and is a top polyvinyl alcohol manufacturer in Europe. Kuraray was founded in 1926, and its headquarters are in Japan. Kuraray was established to commercialize synthetic rayon, which was a cutting-edge technology at the time. The company was the first in the world to commercialize Polyvinyl Alcohol (PVOH) fiber. It offers PVOH through its vinyl acetate segment.

Kuraray has offices all over the world in addition to having two facilities in the United States and production facilities in Germany, Singapore, and Japan. Kuraray Co Ltd has more than 10,000 employees globally. Globally, the company is having presence in Asia, Europe, and American regions.

Anhui Wanwei Group Co., Ltd. is a large enterprise under the direct control of State-owned Assets Supervision and Administration Commission of Anhui Provincial Government. It is a large-scale enterprise group based in Anhui Province, China. The company is primarily engaged in the research, development, production, and sale of plastic packaging materials and products. Anhui Wanwei Group has grown into a leading producer of plastic packaging products in China, with a wide range of products including plastic bags, films, sheets, and pipes.

In addition to its core business of plastic packaging, Anhui Wanwei Group Co. Ltd, has diversified into other areas, including real estate development, financial investment, and healthcare. The company has four basic segments including chemical products, synthetic hair products, new materials and building material products. The company's annual production capacity of water-soluble PVOH fiber products is 10,000 tons, which has solved the technical problems that affect the processing performance such as oil selection and insoluble content. The company has built several large-scale residential and commercial projects in Anhui Province and has established a number of investment funds focusing on high-growth industries such as healthcare and technology.

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