The Polyvinyl Alcohol Market is to Touch $7.1 Billion by 2030; Increasing usage in the electronics industry and Rising demand from the packaging industry propels market growth.

The Polyvinyl Alcohol Market size is estimated to reach $7.1 billion by 2030, growing at a CAGR of 6.3% during the forecast period 2024-2030, according to a recent report published by IndustryARC, titled, “Polyvinyl Alcohol Market – By Product Type (Fully Hydrolyzed, Partially Hydrolyzed, Sub-Partially Hydrolyzed, Low Foaming Grades, and Others), By Application (Packaging, Papermaking & Processing, Building & Construction, Electronics, Textile, Medical, Personal Care, and Others), By Geography - Global Opportunity Analysis & Industry Forecast, 2024-2030”

The increasing emphasis on advanced medical technologies & personalized medicine and Increasing use in environmental applications are expected to create growth opportunities in the market during forecast period.

APAC accounted for the largest share of 44% of the Polyvinyl Alcohol Market in 2023 followed by North America and Europe. APAC, particularly China and India, is a major hub for industrial activities, including textiles, paper, and packaging industries. In July 2023, Asia Pacific Rayon, promotes sustainable textile production in Bangladesh, India. The region's large-scale manufacturing and industrial base drives high demand for PVA products. 

Because of their potential to produce low cost, high volume and versatile electronics, organic field-effect transistors (OFETs) have been a hot topic for the past decade. Currently, polyvinyl alcohol is the most studied suspension polymerizations to be used as a dielectric material in organic thin-film transistors due to its versatility, low cost, water-soluble polymer, non-toxicity, high dielectric consistency, flexible hydrophilic network, low leakage current, good film properties and, most importantly, its high dielectric permittivity and high insulating properties. The most promising factor currently being used as a dielectric gate in OFET structures is polyvinyl alcohol. Thus, the usage of polyvinyl alcohol is expected to increase in the electronics industry.

PVA, particularly in its partially hydrolyzed form, is highly valued in packaging applications for its excellent film-forming properties and biodegradability. As environmental concerns rise, there is a growing push towards eco-friendly packaging solutions to reduce plastic waste and enhance sustainability. PVA films are an attractive alternative to traditional plastics because they are water-soluble, allowing them to dissolve completely and leave no harmful residues. This characteristic is especially beneficial in applications such as single-use packaging, agricultural films, and protective coatings. As these trends continue, the packaging industry's reliance on PVA is expected to expand, reinforcing its position as a key driver in the polyvinyl alcohol market. 

• In February 2023, Mitsubishi Chemical Corporation announced a capacity expansion for polyvinyl alcohol (PVA) in Japan, aiming to meet the rising demand in various applications including packaging, textiles, and construction.

• In March 2024, Sekisui Specialty Chemicals, a subsidiary of Sekisui Chemical, announced a global price increase for their Selvol brand of polyvinyl alcohol. The company is also planning to expand its polyvinyl alcohol (PVOH) production capacity.

• In October 2022, Chang Chun Arizona, initiated construction on its inaugural U.S. manufacturing plant in Casa Grande, Arizona. Scheduled to become operational in 2023, this facility will play a crucial role in supporting the burgeoning semiconductor manufacturing sector in the region.

Key companies profiled in the Polyvinyl Alcohol Market are Sekisui Chemical Co. Ltd., Kuraray Co. Ltd., Anhui Wanwei Group, Astrra Chemicals, SNP, Inc., Merck KGaA, Mitsubishi Chemical Corporation, Chang Chun Group, Kanto Chemical Co., Inc., Junsei Chemical Co., Ltd., and others.