Allied Market Research Says, Poly vinyl alcohol fiber market is expected to exceed $710.3 million by 2030, and registering at a CAGR of 4.2% from 2021 to 2030. poly vinyl alcohol (PVA) fiber industry growth is propelled by increase in the demand for cement in the construction sector and rise in demand for poly vinyl alcohol fiber in the textile industry. 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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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.
Based on application in poly vinyl alcohol fiber market, 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, poly vinyl alcohol fiber market in LAMEA is expected to portray the fastest CAGR of 5.2% during the forecast period.
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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.
BY PRODUCT:
Staple
Filament Fiber
Others
BY APPLICATION:
Textile
Chemical Industry
Power
Oil and Gas
Automobile
Hydraulics
Others
Construction
Non-Woven Fabric
Others
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Key players of the global poly vinyl alcohol (PVA) 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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