It is characterized by K-value and thus also referred as Povidone or Polyvidone . It has different grade products that are manufactured from the N-vinylpyrrolidone monomer and thus having wide application scope in various industries primarily due to its binding and adhesive agent properties . Their increasing use in electrical industry as a cotton defoliator has also enabled the market to anticipate significant growth by 2024 . Few other uses such as food stabilizers , emulsifiers , metal quenchers and adhesives are also anticipated to boost the market demand over the next eight years . On the other hand , Cosmetics industry and personal care industries are expected to see growth of more than 6 % CAGR and 10 % CAGR respectively and thus augmenting the Polyvinylpyrrolidone market demand over the forecast period primarily owing to increasing application scope and rising adoption of Polyvinylpyrrolidone products as raw material in shampoo , cleaning products , shave lotion and body lotion .
North America and Europe are anticipated to report major growth over the next eight years owing to growing demand from end user industries including pharmaceutical and personal care , and rising awareness about the PVP advantages in healthcare applications . The US is likely to witness considerable growth in the market owing to the approval from the US Food and Drug Administration ( FDA ) for the application of PVP as a safe chemical in numerous medical drugs .
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Other countries including Germany , France , Italy , and the UK are projected to account for highest growth in the region due to increasing R & D endeavors by the companies to produce varied PVP products that aim to deliver improved product quality with excellent water soluble properties . The presence of numerous market players dedicated in researching and developing PVP products for companies such as Novartis , Pfizer , Roche , Merck & Co ., Unilever , Procter & Gamble and Kimberly-Clark are also expected to bolster the PVP market demand over the forecast period .
Asia-Pacific is projected to witness the fastest growth over the forecast period due to increasing application & services from cosmetics , food & beverage and adhesive industries . India , China , Japan , and Singapore are expected to account for the major market share in the region primarily due to growing awareness and acceptance to use PVP products as a raw material in various applications and increasing foreign investment in the industry leading to innovations and technological advancements .
Key players in Polyvinylpyrrolidone ( PVP ) market include BASF , ZhangzhouHuafu Chemical Co . Ltd ., Hangzhou Motto Science & Technology Co . Ltd ., Shanghai Yuking Water Soluble Material Tech Co ., Ltd , Sigma-Aldrich Co . LLC ., Shanghai Qifuqing Material Technology Co ., Ltd ., Divnova Specialties Pvt . Ltd ., JH Nanhang Life Sciences Co . Ltd ., Sisco Research Laboratories Pvt . Ltd ., N Shashikant & Co ., Alfa Aesar , Huangshan Bonsun Pharmaceuticals Co ., Ltd ., Boai NKY Pharmaceuticals Ltd , Hangzhou Sunflower Technology Development Co .