Asia-Pacific Polyvinylpyrrolidone (PVP) Market, By Grade (K30, K90, K12, K25, K17, K60, K120, Kollidon SR, Kollidon CL, Crospovidone, Copovidone, XL-10, Ultra-10 and Others), Type (Medium Molecular Weight, High Molecular Weight and Low Molecular Weight), Form (Powder and Liquid), Application (Pharmaceutical, Cosmetics, Solvents, Electrical & Electronics, Adhesives, Agrochemicals, Food & Beverage, Membranes, Ceramics, Home Care, Metal Quenching and Others), Distribution Channel (Offline and Online) - Industry Trends and Forecast to 2030.
Asia-Pacific Polyvinylpyrrolidone (PVP) Market Analysis and Size
Asia-Pacific polyvinylpyrrolidone (PVP) market is expected to gain market growth in the forecast period of 2023 to 2030. Data Bridge Market Research analyses that the market is growing at a CAGR of 7.2% in the forecast period of 2023 to 2030 and is expected to reach USD 958,782.83 thousand by 2030. Application as an excipient in pharmaceutical products is an important factor for the Asia-Pacific polyvinylpyrrolidone (PVP) market, expected to drive the market growth.
Polyvinylpyrrolidone (PVP) market report provides details of market share, new developments and product pipeline analysis, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions and technological innovations in the market. To understand the analysis and the market scenario, contact us for an Analyst Brief. Our team will help you create a revenue-impact solution to achieve your desired goal.
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Report Metric |
Details |
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Forecast Period |
2023 to 2030 |
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Base Year |
2022 |
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Historic Years |
2021 (Customisable to 2020-2015) |
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Quantitative Units |
Revenue in USD Thousand |
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Segments Covered |
By Grade (K30, K90, K12, K25, K17, K60, K120, Kollidon SR, Kollidon CL, Crospovidone, Copovidone, XL-10, Ultra-10 and Others), Type (Medium Molecular Weight, High Molecular Weight and Low Molecular Weight), Form (Powder and Liquid), Application (Pharmaceutical, Cosmetics, solvents, Electrical & Electronics, Adhesives, Agrochemicals, Food & Beverage, Membranes, Ceramics, Home Care, Metal Quenching and Others), Distribution Channel (Offline and Online) |
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Countries Covered |
Japan, China, South Korea, India, Singapore, Thailand, Indonesia, Malaysia, Philippines, Australia & New Zealand and the Rest of Asia-Pacific |
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Market Players Covered |
Ashland, Boai NKY Pharmaceuticals Ltd., BALAJI AMINES, Hangzhou Motto Science & Technology Co., Ltd., JH Nanhang Life Sciences Co., Ltd. NIPPON SHOKUBAI CO., LTD., BASF SE, Merck KGaA, Alfa Aesar, Thermo Fisher Scientific, Huangshan Bonsun Pharmaceuticals Co., Ltd. and others |
Market Definition
Polyvinylpyrrolidone is also known as povidone or PVP. It is popularly used in the pharmaceutical industry as a synthetic polymer vehicle for dispersing and suspending drugs. The PVP is used in various pharmaceutical operations, including binder for tablets and capsules, film former for ophthalmic solutions, flavoring liquids and chewable tablets and as an adhesive for transdermal systems. The PVP appears as a white to slightly off-white powder and can dissolve in both water and oil solvents. The PVP is increasingly being used for biocompatibility, absence of toxicity and high capacity to form interpolymer complexes. Thus, the PVP market is expected to grow due to the demand for PVP in designing materials for different applications as biomaterials for medical and nonmedical uses.
Asia-Pacific Polyvinylpyrrolidone (PVP) Market Dynamics
Drivers
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Application as an excipient in pharmaceutical products
Excipients are inert medicinal components utilized in the development of pharmaceutical products. Every excipient has its unique function, such as disintegrant, pH adjustment, binder or solvent. They are widely employed in the drug formulation process to enhance long-term stabilization, provide solid formulations with more strength and improve therapeutic drug bioavailability. The rise in chronic diseases, the growing demand for generic drugs and the development of new active pharmaceutical ingredients and vaccines are a few of the factors which are driving the demand and usage in pharmaceutical industries. The recent COVID-19 pandemic too influenced the growth of the worldwide excipient market due to increased demand for pharmaceutical drugs.
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Growth in the fast-moving consumer goods industry
The term "fast-moving consumer goods" (FMCG) refers to packaged goods that are bought or sold often and in small quantities. The FMCG consists of various industries that are engaged in the production of cosmetics, personal care products, food and beverages, home care products and others. Such products are bought on a small scale from consumers from supermarkets and groceries. Increasing disposable incomes, new technology to manufacture products, increasing foreign direct investment, favorable frameworks of government, unique marketing strategies, rapid urbanization and the boom of e-commerce platforms are the factors that have caused the growth of the fast-moving consumer goods industry.
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Increase in demand from end-user industries
Polyvinylpyrrolidone has applications in different end-user industries, such as adhesives, paints, electronics, ceramics, and membranes. The polymer has significant properties such as high solubility, cross-linkability, high polarity and hydrophilicity which enables it as an efficient option to use in the production of adhesives. Such adhesives have high viscosity, which is further applied in the binding of materials like wood and paper and in the construction industry. Due to its binding property, it is used as a binding agent in the production of ceramics such as tiles and bricks. Likewise, polyvinylpyrrolidone is used on a large scale in the electronics industry, such as in the manufacturing of batteries, inorganic solar cells, cathode ray tubes and printed circuit boards.
Opportunities
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Growth in research and development activities
The polymer has exceptional properties as excipients in pharmaceutical products and has also been approved by U.S. FDA as generally recognized as a safe chemical. The research on new therapeutic drugs to cure diseases offers a huge opportunity for the growth of the Asia-Pacific polyvinylpyrrolidone market.
Polyvinylpyrrolidone also has applications in molecular biology. It is used as an ingredient in the preparation of Denhardt's Solution, which is employed in nucleic acid hybridization techniques like southern blot analysis. The polymer can also be used in the isolation of nucleic acids experiments. It has the exceptional property of absorbing polyphenols when the purification of nucleic acids is performed
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Supportive chemical industry outlook in emerging economies
Diverse industrial applications, high consumption, increased income and urbanization, increased foreign direct investment and promising export potential are some of the factors which are encouraging chemical industry growth in developing economies such as India and China. Upcoming opportunities to manufacture specialty chemicals and polymers will create a huge domestic demand and the country will be self-efficient in producing chemicals. Also, investment from developed countries or setting up a chemical plant in emerging economies, which can offer a wide opportunity for the growth of the Asia-Pacific polyvinylpyrrolidone market.
Restraint
- Volatility in raw material prices
Made from the N-vinylpyrrolidone monomer, polyvinylpyrrolidone is an aromatic hydrocarbon polymer. By reacting acetylene and 2-pyrrolidone, polyvinylpyrrolidone is produced. Along with it, initiator like 2,2’-Azobisisobutyronitrile is involved in the production of polyvinylpyrrolidone. It is reasonable to anticipate that since acetylene is the product of the processing of petroleum and natural gas, its prices will follow the price of crude oil. In addition, the facilities required to produce such polyvinylpyrrolidone require high capital and extensive infrastructure.
- Usage of harmful chemicals in polyvinylpyrrolidone production
2-pyrrolidone chemical, when exposed to the eyes, can cause severe irritation and damage. The chemical could cause skin inflammation and respiratory when one is exposed for a long duration. Acetylene is a gas that gets ignited easily and has serious health effects. If inhaled, acetylene can cause nausea, dizziness, headache and vomiting, abnormal heart rhythms, high blood pressure and difficulty in breathing. Long-term exposure to chemicals like 2,2’-Azobisisobutyronitrile and hydrogen peroxide causes serious health issues, such as respiratory and skin problems.
CHALLENGE
- Credible threat of other substitutes
Polyvinylpyrrolidone is one of the most used polymers because of its wide range of applications. It has the important role of excipients like a binder in the production of pharmaceutical products due to its unique properties. However, polyvinylpyrrolidone production requires harmful chemicals which have a negative side effects on health. The polymer is also non-biodegradable. Thus, it stays for a long time in the environment. Owing to such drawbacks, consumers are looking for other substitutes which are also sustainable in nature.
Hyaluronate is one of the naturally available alternatives for artificial polyvinylpyrrolidone, which has been replaced in intracytoplasmic sperm injection applications.
Recent Development
October 6 2022, According to the Times of India, the Asia-Pacific FMCG sector is well positioned to grow by USD 310.5 billion between 2022 and 2026, mostly due to an increase in the consumption of ready-to-eat food goods.
Asia-Pacific Polyvinylpyrrolidone (PVP) Market Scope
Asia-Pacific polyvinylpyrrolidone (PVP) market is categorized into grade, type, form, application and distribution channel. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
Grade
- K30
- K90
- K12
- K25
- K17
- K60
- K120
- Crospovidone
- Copovidone
- XL-10
- Ultra-10
- Kollidon SR
- Kollidon CL
- Others
On the basis of grade, the market is segmented into K30, K90, K12, K25, K17, K60, K120, Crosopovidone, Copovidone, XL-10, Ultra-10, Kollidon SR, Kollidon CL and others.
Type
- Medium molecular weight
- High molecular weight
- Low molecular weight
On the basis of type, the market is segmented into medium molecular weight, high molecular weight, low molecular weight and others.
Form
- Powder
- Liquid
On the basis of form, the market is segmented into powder, liquid and others.
Application
- Pharmaceutical
- cosmetics
- Solvents
- Electrical & electronics
- Adhesives
- Agrochemicals
- Food & beverage
- Membranes
- Ceramics
- Home care
- Metal quenching
- Others
On the basis of application, the market is segmented into pharmaceuticals, cosmetics, solvents, electrical & electronics, adhesives, agrochemicals, food & beverage, membranes, ceramics, home care, metal quenching and others.
Distribution Channel
- Offline
- Online
On the basis of distribution channels, the market is segmented offline and online.
Asia-Pacific Polyvinylpyrrolidone (PVP) Market Regional Analysis / Insights
Asia-Pacific polyvinylpyrrolidone (PVP) market is analyzed and market size information is provided by country, grade, type, form, application and distribution channel, as referenced above.
The countries covered are Japan, China, South Korea, India, Singapore, Thailand, Indonesia, Malaysia, Philippines, Australia & New Zealand and the Rest of Asia-Pacific.
China is dominating the market due to growth in the fast-moving consumer good industry, and an increase in demand from end-user industries are expected to provide opportunities.
The country section of the report also provides individual market-impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, the presence and availability of brands and their challenges faced due to large or scarce competition from local and domestic brands and the impact of sales channels are considered while providing forecast analysis of the country data.
Competitive Landscape and Polyvinylpyrrolidone (PVP) Market Share Analysis
Asia-Pacific polyvinylpyrrolidone (PVP) market competitive landscape provides details by the competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Asia-Pacific presence, production sites and facilities, company strengths and weaknesses, product launch, clinical trials pipelines, brand analysis, product approvals, patents, product width and breath, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to Asia-Pacific Polyvinylpyrrolidone (PVP) market.
Some of the major players covered in the report are Ashland, Boai NKY Pharmaceuticals Ltd., BALAJI AMINES, Hangzhou Motto Science & Technology Co., Ltd., JH Nanhang Life Sciences Co., Ltd. NIPPON SHOKUBAI CO., LTD., BASF SE, Merck KGaA, Alfa Aesar, Thermo Fisher Scientific, and Huangshan Bonsun Pharmaceuticals Co., Ltd., among others.
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