Key Highlights:
- In terms of revenue, the global polyvinylpyrrolidone market is anticipated to expand at a CAGR of 13.1% from 2019 to 2027
- Pharmaceutical segment accounted for major share of the polyvinylpyrrolidone market, owing to rise in demand for tablets and liquid ointments where polyvinylpyrrolidone is widely used in formulations
- In terms of volume, the low molecular weight segment accounted for prominent share of the global polyvinylpyrrolidone market in 2018
- North America accounted for major share for polyvinylpyrrolidone owing to robust growth in Pharmaceutical industry
- The polyvinylpyrrolidone market in Asia Pacific is estimated to expand at a CAGR of more than 13.0% during the forecast period, owing to the increase in consumption of coatings, inks and pharmaceutical products coupled with growth in manufacturing facilities for the same
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Key Drivers for Polyvinylpyrrolidone Market:
- Increase in demand for Polyvinylpyrrolidone in Pharmaceutical, Cosmetics, and Solvents applications to boost market
- Polyvinylpyrrolidone is employed extensively in tablets, injections, and disinfectant products. Copovidone is used in granulation and as dry binder in tablets and capsules. It is used as a film-forming agent and sub-coating. Geriatric population has been rising due to the increase in life expectancy
- Polyvinylpyrrolidone polymer superiority has been increasingly recognized in the application of pharmacy research and development studies. Demand for pharmaceutical excipients is expected to rise at rapid pace in the near future. This is anticipated to boost the demand for polyvinylpyrrolidone in the domain
- Polyvinylpyrrolidone low molecular weight products are particularly effective as dispersants for carbon black and low-bulk-density solids in aqueous media. Rise in need for carbon black in end-use industries is directly augmenting the demand for polyvinylpyrrolidone
- Polyvinylpyrrolidone is widely used in hair care, skin care, oral care, and perfume products. Hair care is a prominent application of polyvinylpyrrolidone due to the latter’s physiological properties. As a good surfactant, adding polyvinylpyrrolidone to the shampoo can stabilize the foam. Polyvinylpyrrolidone is used as a moisturizer in sunscreen. It also protects the skin from the sunlight. Wide range of applications of polyvinylpyrrolidone in the cosmetics industry and rapid growth rate of the industry in developing and developed countries such as China, South Korea, Japan, Germany, Italy, and the U.S. are anticipated to boost the polyvinylpyrrolidone market during the forecast period
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Availability of Substitutes May Hamper Overall Demand for Polyvinylpyrrolidone:
- Acrylates/methacrylamide copolymer provide styling properties and thickening performance for clear styling gel formulations, styling creams, and styling waxes without an additional thickener and emulsifier such as polyvinylpyrrolidone polymer
- METHOCEL Premium products from Dow Pharma & Food Solutions, which deliver the necessary tablet hardness without increasing friability and negatively impacting the release of the drug, are strong substitute for polyvinylpyrrolidone K series products. Thus, less efficacy of polyvinylpyrrolidone products in certain applications vis-à-vis their substitutes is estimated to hamper the demand for polyvinylpyrrolidone during the forecast period
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North America was leading region with Asia Pacific expected to be highly lucrative market
- In terms of volume, North America held major share of more than 30% of the global polyvinylpyrrolidone market in 2018 due to the presence of well-developed pharmaceutical industry. However, the market share of the region is anticipated to decline marginally during the forecast period owing to the rising popularity of substitute products
- The polyvinylpyrrolidone market has been shifting to developing regions such as Asia Pacific owing to the comparatively low manufacturing costs, presence of less stringent environmental regulations, and robust growth of the pharmaceutical industry in these regions
- China, India, and ASEAN constitute key share of the polyvinylpyrrolidone market in Asia Pacific due to the expansion in manufacturing facilities coupled with rapid growth in pharmaceutical, cosmetics, and adhesive industries in these countries and sub-region
