Polyvinylpyrrolidone (PVP) Market: Introduction
Transparency Market Research delivers key insights on the global PVP market. In terms of revenue, the global PVP market is estimated to expand at a CAGR of ~6% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the global PVP market.
The global PVP market is broadly affected by several factors, including the usage of PVP in the pharmaceutical industry. Thus, increase in applications of PVP in pharmaceuticals is propelling the global PVP market.
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Polyvinylpyrrolidone (PVP) Market: Dynamics
Biocompatibility, absence of toxicity, and high capacity to form interpolymer complexes are driving the usage of PVP in designing of materials for different applications. These include biomaterials for medical and non-medical uses.
Industrial applications of PVP polymers include adhesives to improve strength and toughness; paper manufacture to increase strength; and coating resins. PVP is also employed in synthetic fibers to improve dye receptivity. PVP polymers are widely used in inks, imaging, lithography, detergents and soaps, textiles, ceramic, electrical, and metallurgical industries. PVP is also employed as a polymerization additive.
There exists a lack of awareness regarding the benefits and applications of PVP in many developing and underdeveloped countries. Convincing buyers in these countries to purchase PVP is a challenge for producers and distributors of PVP. Major factors restraining the demand for PVP include availability of strong substitutes in the market.
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Polyvinylpyrrolidone (PVP) Market: Prominent Regions
In terms of volume and value, North America accounted for a dominant share of the global PVP market in 2020. This can be ascribed to the strong growth of the pharmaceutical industry in the region. North America and Europe are mature regions of the global PVP market, owing to the presence of a well-developed pharmaceutical industry in these regions. North America is also anticipated to be highly attractive region of the market due to the presence of a well-established healthcare sector and rapid pace of innovations.
Europe was also a key major region of the global PVP market in 2020. The PVP market in Europe is projected to expand at a rapid pace during the forecast period, owing to growth of end-use industries such as cosmetics, food & beverages, and pharmaceuticals in the region.
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The increase in geriatric population in Japan and China is likely to boost the demand for PVP for geriatric healthcare in these countries during the forecast period.
The PVP market in Latin America and Middle East & Africa is anticipated to expand at a sluggish pace during the forecast period due to slow development of the healthcare industry in these regions.
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Polyvinylpyrrolidone (PVP) Market: Key Players
The global PVP market is fragmented with the presence of a large number of players. Key players operating in the global PVP market are ASHLAND GLOBAL HOLDINGS INC., BASF SE, NIPPON SHOKUBAI CO., LTD., Boai NKY Pharmaceuticals Ltd., Zhangzhou HuaFu Chemical Co., Ltd., JH Nanhang Life Sciences Co., Ltd., Star-Tech Specialty Products Co., Ltd., Dongying City Huaan Chemical Industry Co., LTD., and Glide Chem Private Limited.
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