PVP/VA COPOLYMER MARKET REPORT OVERVIEW
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The global PVP/VA copolymer market size was USD 99.3 million in 2022 and is projected to touch USD 155.33 million in 2031, exhibiting a CAGR of 5.1% during the forecast period.
PVP/VA copolymer is an organic compound. PVP/VA copolymers are used to produce transparent flexible and oxygen permeable films. The copolymers are available in white powder or clear solutions in ethanol, water, and isopropanol. The molecular formula of the copolymers is C10H15NO3. the molecular weight is 197.23 g/mol. It has numerous roles in pharmaceutical and industrial sectors. The PVP/VA copolymer is available as solids or as 50% aqueous solutions.
Increasing demand for copolymers from end-use industries is expected to increase market growth. Growing pharmaceutical sector to boost market growth due to the usage of the chemical in various formulations such as suspension, capsules, and tablets. Further, an increase in the consumption rate for processed food is anticipated to boost market growth. Increasing consumer disposable income and cost-effective manufacturing productivity. These factors are expected to increase PVP/VA copolymer market growth during the forecast period.
COVID 19 Impact: Lockdown Restrictions to Decline Consumer Demand
The global COVID-19 pandemic has been unprecedented and staggering, with PVP/VA copolymer experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The spike in CAGR is attributable to the PVP/VA copolymer market growth and demand returning to pre-pandemic levels once the pandemic is over.
The outbreak of COVID -19 impacted multiple industries. Pandemic also generated a few latest business opportunities for PVP/VA copolymer market. The market witnessed sudden demand due to growing need for pharmaceuticals in the pandemic. An increasing number of coronavirus cases are expected to boost the demand for copolymers in the healthcare sector. Rising consumer demand during the pandemic to avoid spreading disease is predicted to increase product demand.
On the contrary, shutdown of multiple industrial sectors impacted the market growth. Lack of labor and skilled people restricted the market growth. Further, lockdown and movement restrictions affected production and supply chain activities of the market.
LATEST TRENDS
"Growing Pharmaceutical Industry Incite Market Growth "
PVP/VA is an organic compound which is used to produce pharmaceuticals and other medical applications are expected to boost market growth. Increasing use of bioavailability to reduce the toxicity in certain drugs are predicted to increase product demand. Further, growing pharmaceutical industry promotes the adoption of PVP/VA copolymer. Increasing demand for natural and organic pharmaceutical products is excepted to witness lucrative PVP/VA copolymer demand among consumers. Rising awareness to develop healthcare infrastructure may accelerate product adoption. In addition, PVP has good film-forming properties that are anticipated to boost market growth.
PVP/VA COPOLYMER MARKET SEGMENTATION
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- By Type
Based on type; the market is divided into cosmetics grade, medical grade, and others.
Cosmetics grade is the leading part of segmentation type.
- By Application
Based on the application; the market is divided into hair care products, skin care products, binder, stabilizer, drug, and others.
Hair care products are the leading part of application segmentation.
DRIVING FACTORS
"Growing Demand for Beauty Products to Boost Adoption of the Product"
Growing cosmetic and hair product demand among population is expected to boost market growth. PVP/VA is a preferred choice for film forming and as hair-styling agents. organic compound is suitable for formulations for film forming viscosity. Further, hair gels, aerosol gas sprays, and wet look sprays are expected to pose an opportunity for market growth where PVP/VA is used. The qualities such as luster, film flexibility, good adhesion, water remoisten ability, and hardness are predicted to accelerate product adoption. Growing cosmetic and beauty industry due to increasing population are expected to boost market growth. In addition, growing need for personal care and cosmetics products is projected to drive PVP/VA copolymer market growth during the forecast period.
"Applications in Various Industries to Foster Market Growth "
PVP/VA copolymer market growth is attributed to increasing demand for organic compounds in multiple industries. Textile printing processes demand for PVP/VA copolymer due to modifiers for solvent-based ink systems. Further, an industrial-grade copolymer is mainly used as a water-soluble binder to make adhesives for nonwovens and paper. Increasing use of adhesives in coatings for paper, metal foil, and plastics is projected to drive PVP/VA copolymer market growth. The strategy of product expansion adopted by key players is responsible for increasing product demand in the coming years. The product is also used in the food industry for dry binders in food products. Increasing demand for processed foods is expected to accelerate market growth during the forecast period.
RESTRAINING FACTORS
"High Cost of Product to Restrict Market Growth "
High cost associated with the product is expected to restrict market growth. In addition, lack of awareness amongst consumers and skilled labor are projected to hinder market growth. Also, presence of alternatives is predicted to hamper product demand.
PVP/VA COPOLYMER MARKET REGIONAL INSIGHTS
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North America is expected to hold PVP/VA copolymer market share due to increasing demand for organic compounds from pharmaceutical and adhesive industries. Growing need for natural and organic products is anticipated to boost product demand. Further, the increasing number of research & development activities in the region are projected to drive market growth. Rising demand for food additives is predicted to accelerate market growth in coming years.
Asia Pacific is expected to witness significant growth due to increasing disposable income to improve healthcare infrastructure. Rising growth in pharmaceutical and cosmetic industry is predicted to boost product demand. Further, growing demand for food additives and increasing demand from food industry are anticipated to accelerate market growth. In addition, presence of the major key players in the region is anticipated to expand growth of the market.
Europe is predicted to witness considerable growth due to increasing number of cancer cases and the adaptability of advanced drugs. Increasing consumer disposable for large-scale industries is expected to expand market growth during the forecast period.
Latin America is projected to show significant market growth due to growing demand for natural and organic products. presence of vast consumer base in the region is projected to drive product adoption.
KEY INDUSTRY PLAYERS
"Acquisition Strategies by Leading Players to Stay Competitive"
The report covers information about the list of market players and their latest development in the industry. The information includes mergers, partnerships, acquisitions, technological developments, and production lines. Other aspects examined for this market include complete research on companies producing and introducing the latest products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.
List of Market Players Profiled
- NKY Pharma (China)
- Colorific (U.K.)
- Tianjin YR Chemspec Technology (China)
- Xinyu (China)
- Ashland (U.S.)
- Huzhou Sunflower Pharmaceutical (China)
INDUSTRIAL DEVELOPMENT
May 2022 – Ashland industries and K-Tec earthmovers announced the acquisition of Metalcraft of GA, Inc. This acquisition is to provide a facility in southeastern U.S. and expand the product offerings.
REPORT COVERAGE
This research profiles a report with general studies that explain the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by examining the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, and others. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.
| REPORT COVERAGE | DETAILS |
|---|---|
Market Size Value In |
US$ 99.3 Million in 2022 |
Market Size Value By |
US$ 155.33 Million by 2031 |
Growth Rate |
CAGR of 5.1% from 2022 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type, Application & Region |
Frequently Asked Questions
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What value is the PVP/VA copolymer market expected to touch by 2031?
The global PVP/VA copolymer market is expected to reach USD 155.33 million by 2031.
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What CAGR is the PVP/VA copolymer market expected to exhibit by 2031?
The PVP/VA copolymer market is expected to exhibit a CAGR of 5.1% by 2031.
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Which are the driving factors of the PVP/VA copolymer market?
Drivers of this PVP/VA copolymer market are growing demand for beauty products and increasing industrialization.
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Which are the top companies operating in the PVP/VA copolymer market?
NKY Pharma, Colorific, Tianjin YR Chemspec Technology, Xinyu, Ashland, and Huzhou Sunflower Pharmaceutical are the top companies operating in the PVP/VA copolymer market.
