From the perspective of application industry, Polyvinyl Alcohol is widely used in packaging, printing, textiles, agriculture, and other fields. Benefiting from the continuous growth of market demand, the production and sales volume of the global polyvinyl alcohol market has shown a rising trend in recent years. In 2021, the global polyvinyl alcohol market output was about 1.25 million tons, and the overall scale of the industry has gradually stabilized.
1、 Overview of polyvinyl alcohol industry
1. Industry definition
Polyvinyl alcohol, also known as PVA, is a odorless, white, flake or powder like solid organic compound with the chemical formula of [C2H4O] n. It has gradually become an important chemical raw material, commonly used in the manufacture of gasoline resistant pipes, emulsifiers, paper coatings, adhesives, and adhesives.
2. Industrial chain
The upstream of the polyvinyl alcohol industry chain is based on basic chemical raw materials, including coal, Acetic Acid, and vinyl acetate; The midstream is the production and manufacturing of polyvinyl alcohol; Downstream mainly include PVB, adhesives, textile pastes, synthetic fibers, and construction adhesives.
2、 Analysis of the current situation of the global polyvinyl alcohol industry
1. Market output
The global market output of polyvinyl alcohol in 2020 was about 1.35 million tons, an increase of about 1.25% compared to the previous year; In 2021, the global market output increased to 1.426 million tons, an increase of about 5.63% compared to 2020. The overall market output shows a rising trend. It is predicted that the global market output of polyvinyl alcohol will reach more than 2.1 million tons by 2025.
2. Market Capacity
In terms of global market production capacity of polyvinyl alcohol, the global production capacity in 2020 was about 1.75 million tons/year, an increase of about 2.17% compared to 2019; In 2021, the market capacity increased to 1826000 tons per year, an increase of about 4.34% year-on-year. As domestic and foreign enterprises gradually increased production capacity, the market capacity of the global polyvinyl alcohol industry showed a steady improvement trend.
3. Market size
In 2019, the global market size of the polyvinyl alcohol industry was about 4.52 billion US dollars, and by 2021, it will increase to about 5.21 billion US dollars, with an annual average composite growth rate of about 6%. It is expected that the global market size of the polyvinyl alcohol industry will increase to 6.5 billion US dollars by 2024.
4. Market consumption area
With the gradual increase in demand in emerging markets such as the Asia Pacific region, the market size of the global polyvinyl alcohol industry continues to grow. From the perspective of global market consumption regions, the Asia Pacific region accounted for a large share of about 39.8% in 2021; Secondly, Europe and North America accounted for about 28.1% and 25.4% respectively, while the market share of other regions in the world accounted for 6.7%.
5. Market demand structure
From the perspective of market demand structure, the proportion of automotive, construction, and renewable energy sectors has continuously increased in recent years. In 2021, the market share of the three sectors reached about 48.2%, 42.1%, and 7.7%, respectively. The total demand share of other sectors was about 2%.
6. Downstream application market
In the downstream application market of polyvinyl alcohol, the market share of polymerization auxiliaries is currently the largest, accounting for approximately 23.8% in 2021; The second is polyvinyl butyral, adhesives, textile pulp, and paper coatings, which account for about 15.2%, 13.8%, 13.6%, and 10.5%, respectively. In addition, other application markets account for a total of about 23.1%.
In the process of gradually developing the industry towards high precision, the market demand for high-end textiles, automobiles, construction, medicine, and other fields is growing rapidly. In the future, PVB films, PVA optical films, and other polyvinyl alcohol products will have a large market development space.
