ALBANY, N.Y., Feb. 9, 2021 /PRNewswire/ — Polyvinylpyrrolidone, also known as polyvidone or povidone or PVP, refers to a water-soluble polymer. This white colored chemical is available in hygroscopic powder form with a weak characteristic odor. Polyvinylpyrrolidone is manufactured using free radical polymerization process of N-vinyl pyrrolidone monomer and 2-propanol or water.
According to analysts at Transparency Market Research (TMR), the global polyvinylpyrrolidone market will expand at a promising CAGR of over 13% throughout the forecast period 2019–2027. Thus, the market for polyvinylpyrrolidone is likely to account for around US$ 7.5 Bn by the end of 2027.
Polyvinylpyrrolidone Market: Major Takeaways
- In recent few years, major healthcare professionals across the globe are using the hemodialysis techniques for the treatment of human renal failure. One of the key factors driving the popularity of hemodialysis is its relatively safe purification nature. In this treatment method, ultrafiltration hollow fiber (HFM) membrane is used. Many researchers across the globe are growing focus toward the development of high performance biocompatible hemodialysis membranes. Owing to the excellent biocompatibility of polyvinylpyrrolidone additives, they are increasingly used in the process of biocompatible hemodialysis membranes development. This scenario is creating lucrative avenues for players in the global polyvinylpyrrolidone market.
- The companies working in the polyvinylpyrrolidone market are growing focus on research and development activities. To support this strategy, they are investing in new research centers. This scenario is likely to help in the rapid expansion of the global polyvinylpyrrolidone market in the forthcoming years.
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Polyvinylpyrrolidone Market: Leading Segments
- On the basis of grade, the high molecular weight segment gathered lion’s share of the polyvinylpyrrolidone market in 2018.
- Of all applications, pharmaceutical was one of the leading segments in the global polyvinylpyrrolidone market during 2018.
- In the context of volume, the low molecular weight segment accounted for key market share during 2018.
- In past period, North America was prominent region of the polyvinylpyrrolidone market.
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Polyvinylpyrrolidone Market: Growth Boosters
- In recent few years, there is extensive growth in demand for high performance water-soluble polymers. In addition to this, polyvinylpyrrolidone is gathering prodigious demand avenues for a wide range of end-uses such as solvents, cosmetics, and pharmaceutical purposes. Owing to this scenario, vendors in the global polyvinylpyrrolidone market are foreseen to gain promising demand opportunities throughout the forecast period 2019–2027.
- Polyvinylpyrrolidone finds application in the manufacturing of injections, disinfectants, and tablets. Copovidone is extensively utilized in capsules and tablets as dry binder and in granulation. Apart from this, it is in high demand as a sub-coating and film-forming agent. Owing to this wide range of application, the global polyvinylpyrrolidone market is expected to gather prodigious sales opportunities in the years ahead.
- Asia Pacific is projected to exhibit expansion at higher CAGR between 2019 and 2027.
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