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Polyvinyl Alcohol Fiber Market Growth Projections and Opportunities
The global market for polyvinyl alcohol fiber was worth around USD 322.45 million in 2017, and it's estimated to grow to about USD 409.14 million by 2023. That's an increase of about 4.05% every year. In simpler terms, this means more people and businesses are using and needing this type of fiber.
Let's talk about the volume, which is how much of this fiber is made. In 2017, the global market made around 145.51 thousand tons of this fiber. This number is expected to grow at a rate of about 3.39% each year, meaning we'll be making more of this fiber in the coming years.
Now, why is this happening? Several things are driving this growth. One of the main reasons is that the construction industry really likes this fiber. It's strong and resistant to stretching, much like steel and glass fibers. This makes it a great choice for things like concrete that need to be strong and last a long time. The construction part of this market was valued at about USD 132.75 million in 2017, and it's estimated to reach about USD 172.16 million by 2023.
There are two types of this fiber: high strength modulus fiber and water-soluble fiber. The high strength modulus fiber is the more popular one, making up about 57.45% of the market in 2017. It was valued at USD 185.25 million in 2017 and is expected to grow at a rate of 5.01% each year, reaching around USD 248.34 million by 2023.
The water-soluble fiber is the other type, making up about 42.55% of the market in 2017. It was valued at USD 137.20 million in 2017 and is expected to reach around USD 160.79 million by 2023. This type of fiber is used in things like non-woven fabric, diapers, and medical materials.
The biggest market for this fiber is in the Asia-Pacific region, which includes countries like China and India. In 2017, this region accounted for about 44.67% of the market, and it's expected to reach about USD 196.74 million by 2023. The growth here is driven by industries like construction, textiles, paper, and more. In simple terms, this means that a lot of these fibers are being used and needed in this part of the world, and the demand is expected to keep growing.
| Report Attribute/Metric | Details |
|---|---|
| Market Size Value In 2022 | USD 0.51 Billion |
| Market Size Value In 2023 | USD 0.534 Billion |
| Growth Rate | 4.90% (2023-2032) |
Polyvinyl Alcohol Fiber Market Highlights:
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