Polyvinylpyrrolidones (PVP) Market

Polyvinylpyrrolidone (PVP) Market Outlook (2023-2033)

The global polyvinylpyrrolidone (PVP) market was valued at US$ 2.5 billion in 2022 and is forecasted to expand at a CAGR of 6.6% and reach US$ 4.8 billion by the end of 2033.

Over the 2018-2022 historical period, consumption of PVP registered a CAGR of 4.7%, according to Fact.MR, a market research and competitive intelligence provider. The high use of polyvinylpyrrolidone in the pharmaceutical industry is likely to bolster market growth and account for 44.3% share in 2023.

Polyvinylpyrrolidone is also called povidone or PVP. It has wide application and demand in the pharmaceutical industry as a synthetic polymer vehicle for drug suspending or dispersing. PVP can be used in several pharmaceutical applications, including binders for capsules & tablets, flavoring liquids & chewable tablets, adhesives for transdermal systems, and film formers for ophthalmic solutions.

PVP can be used for non-medical applications as well, such as inks, imaging, detergents & soaps, lithography, ceramics, textiles, electrical, and others. For industries, PVP is used as an adhesive to improve toughness and strength, and in paper manufacturing as a coating resin. These multiple end-use applications of PVP are expected to boost their sales over the decade.

• Rising awareness of hygiene and the need for disinfectants are likely to boost the demand for PVP in the short term.
• Expansion of the oil & gas industry in North America is likely to drive the PVP market over the coming years.
• Increasing government investments in the pharmaceutical industry in developed as well as developing nations will drive the long-term demand for PVP.

Report Attributes	Details
PVP Market Size (2022A)	US$ 2.5 Billion
Forecasted Market Value (2033F)	US$ 4.8 Billion
Global Market Growth Rate (2023-2033)	~6.6% CAGR
North America Market Share (2023)	~24.1%
East Asia Market Growth Rate (2023-2033)	~7.3% CAGR
United States Market Growth Rate (2023-2033)	~20.3%
Market Share of Top 5 Companies	~28.2%
Key Companies Profiled	Ashland BASF SE Boai NKY Nanhang Industrial Co. Ltd. Nippon Shokubai Rahavard Tamin Pharmaceutical Co.

What are the Trends Shaping the Market for PVP?

“Growing Integration of PVP in Pharmaceuticals”

Over the years, worldwide demand for pharmaceuticals has increased rapidly due to increasing health awareness in developed as well as developing nations. This is expected to boost the demand for PVP as it is widely used in various types of medicines. Approval from USFDA for the use of PVP in different types of medicines is likely to increase its sales in the pharmaceutical industry.

PVP possesses properties such as excellent solubility, complexing power, and bonding capacity, which makes it suitable for use in the health sector as a binder, coating, co-solvent, and dispersion stabilizer.

Since the COVID-19 pandemic arrived, the demand for water-soluble medicines has increased in the healthcare and pharmaceutical industry. Due to this, manufacturers are focusing on increasing their production capacities to cater to this rising demand.

“Several Benefits of PVP Opening New Doors for Manufacturers”

PVP can be used in several industries such as textiles, paper & pulp, oil & gas, electrical & electronics, cosmetics, pharmaceuticals, food & beverages, and others.

Demand for PVP is pullulating due to its affinity for dyestuffs; it enjoys multiple applications in the textile industry, such as dye stripping, removal of identification tints, and formulation of sizes.

PVP can also be used in the beauty and cosmetic industry as a binder, emulsion stabilizer, and hair fixative; it is used in products such as mascara, hair sprays, shampoos, hair conditioners, and others.

“Susceptibility of PVP to Dynamic Instability Under Certain Conditions”

Growing use of organic products in the personal care and cosmetics market is likely to hamper PVP demand growth over the coming years. Over the years, more consumers have shifted towards organic products that are eco-friendly and safe to use.

The use of organic products has increased rapidly in developed countries in North America and Europe. Organic products offer advantages over chemical products since they contain lesser to no pesticides. The use of chemical ingredients in cosmetics can be harsh and irritate a user’s skin, while organic products are the best source of skin-nourishing ingredients.

Market share analysis of PVP based on form and region. Under form, liquid PVC dominated with 63.2% market share in 2022.

Country-wise Insights

Will the Huge Pharmaceutical Industry in the U.S. Drive High Demand for PVP?

The pharmaceutical industry has experienced significant growth in the last decade. The global pharmaceutical industry was valued at over US$ 1,100.0 billion in 2022 and is expected to grow further at a healthy CAGR.

The United States holds over 40% of the global pharmaceutical market share and accounts for over 20% of the world’s pharmaceutical production. The presence of leading pharmaceutical companies in the United States such as Johnson & Johnson, Pfizer & Co., Merck & Co., AbbVie Inc., and others is helping to boost the demand for PVP across the country.

Along with the pharmaceutical industry, the cosmetics industry in the United States is also growing at a healthy rate. The United States cosmetics market was valued at over US$ 100.0 billion in 2022. The increasing use of PVP in cosmetics and beauty products is set to drive the target market in the United States over the coming years.

The United States market for PVP is predicted to grow at a CAGR of 6.5% between 2023 and 2033.

Why is China a Highly Lucrative Market for PVP?

China has the largest construction industry in the world. China's building and construction industry is valued at over US$ 4.0 trillion. This is expected to boost the demand for PVP as the construction industry is flourishing to a great extent.

Along with the construction industry, the growing pharmaceutical, food, beverage, and cosmetics industries are set to create a positive environment for PVP manufacturers in China. Its chemical as well as physical properties such as being easily soluble in water and other solvents make it suitable for use in several applications.

The Chinese PVP market is set to expand at a CAGR of 7.5% from 2023 to 2033.

Category-wise Insights

Which End-use Industry Accounts for Highest Polyvinylpyrrolidone Consumption?

Due to its binding abilities, PVP finds application in several industries. The pharmaceutical end-use industry is likely to dominate the market over the coming years. PVPs are widely used in the pharmaceutical industry for the manufacturing of tablets and capsules. Owing to the increasing demand for pharmaceuticals across the world, several governments have approved the use of PVP in a variety of medicines.

Over the last few years, the demand for medicines has increased at a rapid pace due to the COVID-19 crisis as well as consumers’ preference for health and well-being. The pharmaceuticals end-use industry is likely to dominate and account for 44.3% of the target market share.

Where is the Application of PVP Substantially High?

Application of polyvinylpyrrolidone in adhesives is likely to dominate the market share. Manufacturers have developed several PVP products that can be used in adhesives, which offer high polarity, adhesion, hydrophilicity, and high glass transition temperature.

• Ashland, a leading manufacturer of PVP products, has developed multiple products for use in adhesives, such as PVP K-15, PVP K-30, PVP K-60, PVP K-90, and others.

The growing construction industry is likely to increase the demand for PVP over the coming years. Revenue from the usage of polyvinylpyrrolidone in Adhesives is predicted to increase at a CAGR of 6.1% between 2023 and 2033.

Competitive Landscape

Prominent polyvinylpyrrolidone manufacturers are Ashland, BASF SE, Boai NKY, Nanhang Industrial Co., Nippon Shokubai, and Rahavard Tamin Pharmaceuticals Co.

Market players are focused on delivering products in eco-friendly packaging to meet the demand of both customers and the environment. Further, long-term trade relations with raw material suppliers and distributors, coupled with an enhancement of digital presence, will offer lucrative growth opportunities to market players.

• In April 2021, Ashland acquired the personal care business of Schulke and Mayr Gmbh. This strategic move will help Ashland improve its product portfolio and strengthen its consumer business portfolio.

Fact.MR has provided detailed information about the price points of key manufacturers of PVP positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.

Segmentation of PVP Industry Research

• By Form :

  • Liquid
  • Powder

• By Grade :

  • Copovidone
  • Crospovidone
  • Others

• By Application :

  • Fibers
    • Hydrophilicity Improvers
    • Anti-Static Agents
    • Dye Stripping
    • Pigment Dispersants
    • Others
  • Adhesives
  • Protective Colloids
    • Viscosity Modifiers
    • Particle-size regulators
    • Suspending agents
  • Films
    • Printability Improvers
    • Anti-Fogging Agents
    • Adhesiveness Improvers
    • Others
  • Oil / Gas Fields
    • Fluid Loss Control
    • Drilling Fluid Additives
    • Gas Hydrate Preventers
  • Others
    • Wood Plastic Composites
    • Ink Removal in Recycling Paper
    • Anti-Redeposition Agents
    • Binders for Battery Electrodes
    • Colorant Receptors
    • Others

• By End-use Industry :

  • Textiles
  • Pulp & Paper
  • Oil & Gas
  • Electrical & Electronics
  • Cosmetics
  • Pharmaceuticals
  • Food & Beverages
  • Others

• By Region :

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • MEA