Polyvinyl Alcohol Fibers Market to Witness Exponential Growth | 2026
The
global polyvinyl alcohol fibers market was valued at US$ 425.02 Mn in
2017 and is anticipated to expand at a CAGR of 3.85% from 2018 to
2026, according to a new report titled ‘Polyvinyl Alcohol Fibers
Market: Global Industry Analysis, Size, Share, Growth, Trends, and
Forecast, 2018–2026,’ published by Transparency Market Research
(TMR). The global polyvinyl alcohol fibers market is driven by the
rise in demand for polyvinyl alcohol fibers as substitute for
asbestos in the cement additives segment. In terms of production and
demand, Asia Pacific accounts for the dominant share of the global
polyvinyl alcohol fibers market.
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Rise
in Use of Polyvinyl Alcohol Fibers as Substitute for Asbestos
Projected to Boost Market
Polyvinyl
alcohol fibers are used in engineered cementitious composites (ECC),
as they provide reinforcement to the concrete. Cement additives is a
key application segment of the polyvinyl alcohol fibers market.
Polyvinyl alcohol fiber based cement additives possess high tensile
strength and high modulus of elasticity. Polyvinyl alcohol
fiber-based concrete is extensively used in North America, Europe,
and Asia Pacific. It is preferred as an alternative for
environmentally detrimental asbestos. The use of asbestos in roofing
and construction purposes is banned in several regions of the world
due to the harmful effects of asbestos on human health. Thus,
adoption of polyvinyl alcohol fibers as substitute for asbestos is
expected to boost the market during the forecast period.
Volatility
in Prices of Raw Materials and Presence of Substitute Products
Hampering Polyvinyl Alcohol Fibers Market
Polyvinyl
alcohol fibers are produced from polyvinyl alcohol resins. These
resin are downstream products of the vinyl acetate value chain. They
are produced from petrochemical feedstock. The prices of
petrochemical feedstock are volatile and fluctuate on a daily basis.
This causes volatility in prices of the fiber, thereby hampering the
polyvinyl alcohol fibers market. Presence of substitute materials in
target applications of polyvinyl alcohol fibers is also hindering the
market. Just a few producers of polyvinyl alcohol fibers operate in
the market. This further restrains the demand for polyvinyl alcohol
fibers.
Staples
Segment to Dominate Global Polyvinyl Alcohol Fibers Market
Based
on product, the global polyvinyl alcohol fibers market has been
bifurcated into filaments and staples. Staples are available in the
form of short cut strands of fiber. This is the dominant segment in
the global polyvinyl alcohol fibers market. It is anticipated to
expand at a rapid pace during the forecast period. Staple fibers are
used in applications such as cement additives, textiles, and nonwoven
materials. They can also be twisted to form yarns. Staple fibers are
employed as cement additives for reinforcing cement. Demand for
staple fibers is anticipated to rise at a rapid pace during the
forecast period.
Cement
Additives Application Segment to Lead Market Growth
In
terms of application, the global polyvinyl alcohol fibers market has
been segmented into cement additives, textiles, nonwovens, and others
(including fishing nets, tire cords, and ropes). The cement additives
segment accounted for dominant share of the global polyvinyl alcohol
fibers market in 2017. The segment is estimated to expand rapidly
during the forecast period. These fibers are used as reinforcing
materials in fiber concrete. They are also widely used as substituted
for asbestos that are detrimental to human health. Textiles is
another significant consumer of polyvinyl alcohol fibers. The segment
is expected to expand at a moderate pace during the forecast period.
Nonwovens is estimated to be one of the rapidly growing application
segments of the polyvinyl alcohol fibers market during the forecast
period.
Asia
Pacific Dominates Global Polyvinyl Alcohol Fibers Market
Based
on region, the global polyvinyl alcohol fibers market can be divided
into North America, Europe, Asia Pacific, Middle East & Africa,
and Latin America. In terms of demand, Asia Pacific held the dominant
share of the global polyvinyl alcohol fibers market in 2017. The
region is also the major producer of polyvinyl alcohol fibers. In
terms of demand, Europe and North America are other significant
consumers of polyvinyl alcohol fibers. The polyvinyl alcohol fibers
market in North America and Europe is anticipated to expand at a
sluggish to moderate pace during the forecast period. Demand for
polyvinyl alcohol fibers in these regions is estimated to rise owing
to the increase in usage as substitute for asbestos in the cement
additives application segment. Demand for polyvinyl alcohol fibers is
estimated to rise significantly in Middle East & Africa and Latin
America in the near future. These two regions accounted for small
share of the global polyvinyl alcohol fibers market in terms of
demand in 2017. However, they are projected to create lucrative
opportunities for polyvinyl alcohol fibers during the forecast
period.
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Monopolistic
Nature of Polyvinyl Alcohol Market
The
polyvinyl alcohol fibers market is monopolistic. It is dominated by
Kuraray Co. Ltd. Production in primarily concentrated in Japan and
China. The competition is high in China due to the presence of large
numbers of players producing polyvinyl alcohol fibers. Key players
operating in the market include Unitika Ltd., Anuhi Wanwei Group,
Sinopec SVW, Nitivy Ltd., Nycon Corporation, and MiniFiber.
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