Polyvinyl alcohol market to reach $6.8 billion in 2018

According to a new market report from Transparency Market Research the global Polyvinyl alcohol (PVA) films demand for water soluble applications was 16,027 tons in 2011 and is expected to reach 20,628.3 tons by 2018, growing at a compound annual growth rate (CAGR) of 3.7% from 2012 to 2018. In terms of revenue, the market was valued at $208.9 million in 2011 and is expected to grow at a CAGR of 4.8% from 2012 to 2018.
Increasing government initiatives to support green packaging coupled with the biodegradable nature of PVA films is expected to drive demand over the next five years. Water soluble PVA films are majorly used for detergent and agrochemical packaging across the globe and together accounted for over 66% of the total water soluble PVA films consumed. Detergent packaging is a fast growing application segment for PVA films, growing at a CAGR of 4% from 2012 to 2018. The growing acceptance for small packets of detergents to minimize skin contact is one of the key factors driving the PVA films demand for detergent packaging (Daily Packaging News, 11 April 2013).