According to the report published by Allied Market Research, the global poly vinyl alcohol fiber market generated $470.7 million in 2020, and is projected to reach $710.3 million by 2030, manifesting a CAGR of 4.2% from 2021 to 2030. The report offers an in-depth analysis of the market size, future estimations, emerging and current trends, and key players.
Increase in the demand for cement in the construction sector and rise in demand for poly vinyl alcohol fiber in the textile market propel the global poly vinyl alcohol fiber market. On the other hand, fluctuations in price in petrochemical feedstock hinder the growth of the market. On the contrary, rapid innovations to overcome challenges in the market and the growing demand from developing countries are expected to create many opportunities for the market players in the future.
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COVID-19 scenario:
Due to disruptions in the manufacturing and supply-chain operations, many infrastructure development projects across the globe were shut. This hampered the market growth.
The rise in price fluctuations in the petrochemical feedstock during the pandemic has adversely affected the demand for poly vinyl alcohol fiber.
The report segments the global poly vinyl alcohol fiber market on the basis of product, application, and region.
Based on product, the staple segment accounted for the largest market share in 2020, contributing to nearly three-fifths of the total share, and is expected to maintain the lead throughout the forecast period. On the other hand, the filament fiber segment is estimated to witness the fastest CAGR of 4.6% from 2021 to 2030.
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Based on application, the textile segment contributed to the highest market share in 2020, contributing to more than two-fifths of the total market share, and is anticipated to dominate the market during the forecast period. On the other hand, the non-woven fabrics segment is expected to manifest the fastest CAGR of 4.9% from 2021-2030.
Based on region, Asia-Pacific, followed by Europe and North America contributed to the highest share in 2020, holding nearly two-fifths of the total share, and is expected to maintain dominance throughout the forecast period. On the other hand, LAMEA is expected to portray the fastest CAGR of 5.2% during the forecast period.
Key players of the global poly vinyl alcohol fiber market analyzed in the research include Eastman Chemical Company, Mitsubishi Chemical Corporation, EI du Pont de Nemours and Company, KURARAY CO., LTD., BouLing Chemical Co., MiniFIBERS, Inc., Limited, Sinopec Sichuan Vinylon, UNITIKA LTD., Hunan Xiangwei Co., Ltd., Nycon, and Inner Mongolia Shuangxin Environment-Friendly Material Co., Ltd.
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