Market Insights:
Market
Research Future (MRFR) has revealed in its new study that the global polyvinyl
alcohol fiber market is projected to expand at a CAGR of 4.05% during the
forecast period 2018 to 2023. Its estimated valuation is expected to grow from
USD 322.45 Mn in 2017 to USD 409.14 Mn towards the end of 2023. The growth
trajectory of the market is presumed to be dictated by the adoption of
water-soluble PVA fiber and robust demand for high strength modulus polyvinyl
alcohol (PVA).
Major parts
of the world are already moving towards urbanization and industrialization
which has led to a drastic rise in the growth of the construction sector. PVA
fiber is extensively used in the construction sector for different applications
such as fiber cement boards, tiles, pipes, advanced road construction, airport
runways, tunnels, and bridges. This, in turn, is projected to aid the
proliferation of the global polyvinyl alcohol fiber market in the upcoming
years.
PVA fiber
has capitalized on the ban on plastic and developed an application in the
packaging industry. It is poised to complement the augmentation of the market
in the foreseeable future. In addition, the strong value maintained by the
textile industry is likely to complement the growth of the polyvinyl alcohol
fiber market. Nevertheless, the rising prices of raw materials remains an
impediment to the market growth.
Segmental Analysis:
This MRFR
report offers a detailed segmental analysis of the polyvinyl alcohol fiber
market based on type and application. By type, the market is segmented into
high strength modulus and water-soluble segments. Among these, the high
strength modulus segment presently holds a larger share of the global market
and is poised to maintain its pole position through the forecast period. Its
valuation is expected to reach USD 248.34 Mn by 2023-end up from 185.25 Mn in
2017. Meanwhile, the water-soluble segment is projected to thrive at 2.68% CAGR
over 2023.
By
application, the polyvinyl alcohol fiber market has been segmented into
construction, textile and apparel, ropes and fishing nets, paper, filter and
non-woven, and others. Among these, the construction segment, at present,
accounts for the lion's share of the market. Polyvinyl alcohol fiber is
excessively used across the construction sector owing to its molecular bond
with mortar and concrete. Thus, the growth of the construction sector is
presumed to drive the proliferation of the market in the upcoming years.
Competitive Dashboard:
ü Bouling Chemical Co., Limited
ü UNITIKA LTD.
ü NYCON
ü KURARAY CO., LTD.
ü Ningxia Dadi Circular
Development Corp. Ltd
ü Anhui Wanwei Group
ü Hunan Xiangwei Co., Ltd.
ü Sinopec Sichuan Vinylon Works
ü Inner Mongolia Shuangxin
Environment-Friendly Material Co., Ltd.
ü MiniFIBERS, Inc.
Regional Outlook:
By region,
the global polyvinyl alcohol fiber market has been segmented into North
America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Asia Pacific resonates significant opportunities owing to the strong economic
growth rate witnessed in the region in the recent years. It has led to rapid
developments in the industrial and construction sector of the region. This, in
turn, has been anticipated to encourage revenue creation in the polyvinyl
alcohol fiber market over the next couple of years. The regional market is
estimated to secure the foremost position in the global market across the
review period.
Europe is
prognosticated to hold the second position through the projection period. Its
valuation is predicted to grow from USD 75.77 Mn in 2017 to USD 88.76 Mn by the
end of 2023. Led by the U.S., North America is expected to expand at a CAGR of
2.94% during the forecast period.
Latin
America and the Middle East & Africa are important revenue pockets and are
anticipated to grow substantially in the forthcoming years. These regions are
expected to expand at relatively higher CAGRs than that of Europe and North
America.
Get Complete Research Report@ https://www.marketresearchfuture.com/reports/polyvinyl-alcohol-fiber-market-7292
No comments:
Post a Comment