Polyvinylpyrrolidone (PVP), also known as povidone or polyvidone is a water soluble polymer which is produced from the monomer N-vinylpyrrolidone. PVP has a wide application scope in numerous industries, primarily due to its bonding abilities. It is extensively used in the medical industry as a blood plasma expander and also in medicines as safe binding agents. Other uses of PVP include food stabilizers, adhesives, emulsifiers, additives and metal quenchers.
The market for PVP has been witnessing noticeable growth, mainly due to the increasing consumption of everyday medicines and food among others. Demand is expected to maintain a rapid pace due to development of several downstream industries such as food processing and fabrication. In addition, growing industrialization in several emerging economies such as China and India has also contributed to the growth of the market in various metal processing and ceramic applications.
Growth of the pharmaceutical industry is anticipated to be one of the major factors driving the demand for PVP over the forecast period. Moreover, the approval from the U.S. Food and Drug Administration (FDA) for the use of PVP as a safe chemical in various medical applications has further increased the demand for the product in the medical industry. However, rising awareness regarding the exposure of sperm to PVP to slow their motility is expected to hamper the growth of the market. Several products containing hyaluronate are replacing PVP to address this issue, leading to declining use of PVP in Intracytoplasmic Sperm Injection (ICSI) applications. Focusing on diversification by introducing several new products in the PVP industry as well as formation of strategic alliances and acquisitions increasing the company market share are expected to provide new opportunities for the growth of the market.
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Ashland Inc., BASF SE, Boai Nky Pharmaceuticals Ltd., Brenntag Specialties, Inc., Ingredients Plus (NZ) Ltd., Nanhang Industrial Co. Ltd, Sigma-Aldrich Corporation, Worldchem Europe Ltd., and Zhangzhou Huafu Chemical Co., Ltd. are some of the major manufacturers of PVP dominating the industry.