Poly Vinyl Alcohol Fiber Market Size Expected to Reach $710.3 Million by 2030

According to a new report published by Allied Market Research, titled, "Poly Vinyl Alcohol Fiber Market by Product and Application: Global Opportunity Analysis and Industry Forecast, 2020-2030," the global poly vinyl alcohol fiber market size was valued at $470.3 million in 2020, and poly vinyl alcohol fiber market is projected to reach $710.3 million by 2030, with global poly vinyl alcohol fiber market forecast expected at a CAGR of 4.2% from 2021 to 2030.

Rapidly increasing urbanization and increasing infrastructure activities across the globe, especially in the developing countries such as India, Indonesia, Brazil and others, has led to increase the demand for poly vinyl alcohol fiber market across the globe. In addition to this, increasing awareness among the people toward personal hygiene have increased the demand for sanitary product is expected to have positively impact toward the demand for poly vinyl alcohol fiber market during the forecast period. The rapid increase in the depletion of ground water and increasing soil erosion majorly in desert region is one of the reasons for the growth of the poly vinyl alcohol fiber market as poly vinyl alcohol fiber is used as soil binding agent and is also used in the production of filters for water treatment. The high populated countries such as India has heavy work load on its transportation facilities, hence due to lock down, these facilities are put to up-gradation and new infrastructural activities are being carried out under strict regulations. The above-mentioned factors will provide remunerative opportunities for the growth of poly vinyl alcohol fiber market during the forecast period.

The Asia-Pacific dominates global poly vinyl alcohol fiber market due to the presence of a huge population in emerging countries such as India, China, and others. In addition to this, Asia-Pacific region is one of the major manufacturer and exporter of textile industries across the globe. The government regulations toward the safety standards for commercial and industrial facilities and heavy investment toward infrastructure activities in the developing countries is one of the major factors responsible for the growth of poly vinyl alcohol fiber market. The rapid increasing per capita income across the region has led to increase in the demand for various commercial construction activities in Asia-Pacific. The above-mentioned factors are expected to provide ample opportunities for the growth of the poly vinyl alcohol fiber market during the forecast period.

Poly vinyl alcohol fiber is produced by hydrolysis of poly vinyl acetate and the conversion of polyvinyl ester is usually conducted by base catalyzed trans esterification with ethanol.  Ethanol is a raw material which is produced from oil and gas industries and has a severe impact on the production of poly vinyl alcohol fiber due to price fluctuations. The fluctuation in the prices of fossil fuels is the major factor restraining the growth of poly vinyl alcohol fiber market. Also, production of poly vinyl alcohol fiber leads to environment population as most of its raw materials comes from the petroleum industries which is another factor expected to restrain the growth of poly vinyl alcohol fiber market throughout the forecast period. The introduction of “flushability” due to the production of disposable single use products are flushed, which lead to water contamination and difficulty in waste water treatment. Hence, this program encourages the manufacturer to voluntarily encourage clear marking of non-flushable products as “No Flush”, which includes creating a logo.

On the basis of product, poly vinyl alcohol fiber is segmented into staple fibers, filament fibers, and others. The applications covered in the study include textile, construction, non-woven fabrics and others.

Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. Presently, Asia-Pacific accounts for the largest share of the market, followed by North America and Europe.

The major companies profiled in this report include BouLing Chemical Co., limited, Eastman Chemical Company, DuPont de Nemour, Hunan Xiangwei Co., Ltd., Inner Mongolia Shuangxin Environment-Friendly material Co., Ltd., Huraray Co., Ltd., MiniFIBERS, Inc., Mitsubishi Chemical Corporation, Nycon Corporation, and UNITIKA Ltd.

Due to rapidly increasing demand of poly vinyl alcohol fiber, key manufacturers are expanding their production capacities in order to meet market demand across the globe. Additional growth strategies such as new product developments, merger and acquisition strategies, are also adopted to attain key developments in the poly vinyl alcohol fiber market trends.

IMPACT OF COVID-19 ON THE GLOBAL POLY VINYL ALCOHOL FIBER MARKET

• Emergence of COVID-19 had a negative impact on the development of most of the industrial and commercial markets, which includes the growth of the global poly vinyl alcohol fiber market for a short period.
• This impact is mostly attributed to the significant disruptions during manufacturing and supply-chain operations as a result of various precautions and other restrictions imposed by the government to curb the spread of the virus.
• The decrease in demand for poly vinyl alcohol fiber in chemical industry and shut down of many infrastructure activities during this period has created a negative impact on the development of poly vinyl alcohol fiber market.
• The increasing price fluctuations in the petrochemical feed stock during this pandemic period have restrained the development of poly vinyl alcohol fiber market.
• Thus, the abovementioned factors are expected to limit the global poly vinyl alcohol fiber market growth in current times.

Key findings of the study

• By region, the Asia-Pacific poly vinyl alcohol fiber market is projected to witness growth at the highest CAGR in terms of revenue, during the forecast period.
• As per poly vinyl alcohol fiber market analysis, by product, the staple segment accounted for the largest poly vinyl alcohol fiber market share in 2020.
• On the basis of application, the textile segment accounted for the largest market share in 2020.