Global Polyvinylpyrrolidone Market to 2030: Rapid Adoption of Polyvinylpyrrolidone (PVP) in Fast-moving Consumer Goods (FMCG) Drives Growth

DUBLIN, April 5, 2023 /PRNewswire/ -- The "Polyvinylpyrrolidone Market, By Grade, By Form, Application and By Region Forecast to 2030" report has been added to  ResearchAndMarkets.com's offering.

The market for Polyvinylpyrrolidone (PVP) had a global size of USD 1785.65 million in 2021, and it is predicted to show a revenue compound annual growth rate (CAGR) of 6.2% during the forecast period.

The growth of the market is mainly attributed to the increasing demand for PVP in bioengineering and pharmaceutical applications, as well as in various end-user industries such as cosmetics, personal healthcare, adhesives, and beverage industries. The product is extensively used in the manufacture of nail enamels, lipsticks, skin creams, sunscreens, and mascara, which also contributes to the growth of the market.

PVP is a hydrophilic polymer with excellent binding properties, high solubility in different solvents, and can stabilize suspensions and emulsions. It is widely used as a carrier in pharmaceutical, biomedical, and nutraceutical industries. Moreover, PVP helps to cover resultant granules and governs their surface properties in pharmaceutical granulation .

The rising demand for the research and development of various drugs and medicines, and the increasing requirement for pharmaceuticals due to the rising prevalence of Noncommunicable Diseases (NCDs), are some of the other factors that are expected to drive revenue growth of the market. The World Health Organization (WHO) reported that NCDs account for 41 million deaths each year, which is equivalent to 74% of all deaths globally .

The global Polyvinylpyrrolidone (PVP) market has a vast potential for research and new product development, and many companies are currently working towards developing new drugs to eliminate and cure diseases. Governments in several countries are also funding various research and development projects, further driving the growth of the market.

For instance, the U.S. Department of Health and Human Services has allocated nearly USD 10 billion for research and development of various therapeutic doses. The PVP market is witnessing several opportunities due to the increasing number of clinical research and trial pipeline, which is driving revenue growth of the market.

Market Dynamics

Drivers

• Rising demand for Polyvinylpyrrolidone (PVP) in bioengineering and pharmaceutical application
• Rapid adoption of Polyvinylpyrrolidone (PVP) in Fast-Moving Consumer Goods (FMCG)

Restraints

• Fluctuating raw material prices
• Threat of alternative products

Companies Mentioned

• BASF SE
• Ashland Global Holdings Inc.
• Merck KGaA
• Boai NKY Pharmaceuticals Ltd.
• NIPPON SHOKUBAI CO.
• LTD.
• Thermo Fisher Scientific Inc.
• JH Nanhang Life Sciences Co. Ltd.
• Zhejiang NetSun Co. Ltd.
• Glide Chem Private Limited
• Star-Tech & JRS Specialty Products Co. Ltd.

Key Takeaways

Type Outlook:

The global polyvinylpyrrolidone (PVP) market has been segmented based on grade, form, and application. The K12 grade segment accounted for a larger revenue share in 2021 and is used in applications such as paints, coatings, inks, textile dying, and printing. The K17 segment accounted for a steady revenue share in 2021 and is suitable for use in liquid styling solutions in the pharmaceutical and cosmetics industries. The K30 segment accounted for a moderate revenue share in 2021 and is primarily utilized as an injection aid for dissolving tablets and a flow aid for capsules.

Form Type Outlook:

The powder form segment accounted for the largest revenue share in 2021 and is used in various applications such as pharmaceuticals, culinary, beverage, cosmetic, toiletry, and photographic sectors. The liquid form segment also accounted for a significant revenue share and is extensively used in pharmaceutical and cosmetics industries due to its technological advantages.

Application Outlook:

The pharmaceuticals segment accounted for the largest revenue share in 2021 and is used in various applications such as binder coating agent, suspending agent, solubilizer, and stabilizer in the field of pharmacy. The cosmetics segment accounted for a steady revenue share and is used in the manufacturing formulation of many different product types. The electrical and electronics segment accounted for a moderate revenue share in 2021 and is highly procuring PVP to manufacture polymer-based solid-state devices due to its excellent electrical characteristics.

Regional Outlook:

The North America market had a bigger revenue share in 2021, fueled by advances in chemical research and development and market-changing technologies.

The U.S. stands out for incorporating such technology in manufacturing, and consumers in the region are highly adopting electrical and electronics products, including Electric Vehicles (EVs), which are creating significant demand for polyvinylpyrrolidone (PVP).

Additionally, the increased median household income in the U.S. is driving growth in the PVP market, as the compound is highly sought-after for making beauty and cosmetics products .

In the Asia Pacific region, steady revenue growth in the PVP market is being driven by rising industrialization and export promotion initiatives by emerging countries. PVP is used as a raw material for various electrical and electronics products, whose manufacturing demand is on the rise from leading original equipment manufacturers (OEMs).

The presence of well-known industry leaders, such as Samsung Electronics, LG, and Panasonic, in the region makes it a leader in manufacturing for consumer durable products. The governments' initiatives to encourage the establishment of export-oriented businesses by providing tax breaks and subsidies are also contributing to the growth of the PVP market .

The Europe market had a moderate revenue share in 2021, with increasing usage of PVP for manufacturing pharmaceutical and cosmetics products driving growth in the region. The PVP market is also benefiting from investments in pharmaceutical and cosmetics sectors, as well as from the demand for electrical and electronic component manufacturing across Europe.

For more information about this report visit https://www.researchandmarkets.com/r/1uiwq4

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