Polyvinylpyrrolidone (PVP) and Povidone K17: Market Dynamics and Financial Trajectory
Introduction to Povidone K17
Povidone K17, a variant of Polyvinylpyrrolidone (PVP), is a versatile polymer widely used in various industries, particularly in the pharmaceutical sector. Its unique properties, such as biocompatibility, low toxicity, and excellent adhesive and film-forming capabilities, make it an essential excipient in drug formulation.
Market Growth and CAGR
The global PVP market, which includes Povidone K17, is experiencing significant growth. The market is projected to grow at a Compound Annual Growth Rate (CAGR) of 6.7% from 2023 to 2030, reaching a market size of USD 3,083,156.56 thousand by 2030[1].
In the European market, the PVP segment is expected to grow at a CAGR of 6.4% during the same period, reaching USD 793,418.37 thousand by 2030[3].
Drivers of Market Growth
Pharmaceutical Applications
One of the primary drivers of the PVP market, including Povidone K17, is its extensive use as an excipient in pharmaceutical products. Povidone K17 serves multiple roles such as a binder, solubilizer, disintegrant, and film coat in solid drugs. The increasing demand for generic drugs, the development of new active pharmaceutical ingredients, and the rise in chronic diseases are key factors driving this growth[1][3].
COVID-19 Impact
The COVID-19 pandemic has also contributed to the increased demand for pharmaceutical excipients like Povidone K17. The heightened need for vaccines and pharmaceutical drugs during the pandemic has accelerated the growth of the excipient market[1].
Other Industrial Applications
Beyond pharmaceuticals, Povidone K17 is used in various other industries, including cosmetics, adhesives, and textiles. Its properties make it suitable for hair care, skin care, and oral care products, as well as in the production of inks, paints, and coatings. These diverse applications further boost the market demand[2][3].
Market Segmentation
The PVP market, including Povidone K17, is segmented based on several criteria:
Grade
The market is segmented into various grades such as K12, K17, K25, K30, K60, K90, and others. Each grade has distinct molecular weights and applications, with Povidone K17 being particularly valued for its low molecular weight and specific properties[1][3].
Type
PVP is categorized into low, medium, and high molecular weight types. Povidone K17 falls under the low molecular weight category, which is often used as a solubilizing agent, crystallization inhibitor, and suspension stabilizer in injectables and ophthalmic formulations[2][3].
Form
The market is segmented into powder and liquid forms. Povidone K17 is available in both forms, each serving different application needs[3].
Application
The applications of PVP include pharmaceuticals, cosmetics, solvents, electrical & electronics, adhesives, agrochemicals, food & beverage, membranes, ceramics, home care, and metal quenching. Povidone K17 is particularly prominent in pharmaceutical and cosmetic applications[1][3].
Financial Trajectory
Global Market Size
The global PVP market is expected to reach USD 3,083,156.56 thousand by 2030, with a CAGR of 6.7% during the forecast period[1].
Regional Market Size
In Europe, the PVP market is projected to reach USD 793,418.37 thousand by 2030, growing at a CAGR of 6.4%[3].
Revenue Impact
The increasing demand for PVP-based products, driven by their versatile applications, is expected to significantly impact the revenue of companies involved in the production and distribution of these polymers. Key players such as ASHLAND GLOBAL HOLDINGS INC., BASF SE, and NIPPON SHOKUBAI CO., LTD. are likely to benefit from this market growth[4].
Key Applications of Povidone K17
Pharmaceutical Industry
Povidone K17 is widely used as a binder for tablets and granules, a solubilizing agent for injections, a flow assistant for capsules, and a stabilizer for enzymes and heat-sensitive drugs. Its excellent adhesive, film-forming, and dispersing properties make it an essential component in many pharmaceutical formulations[2].
Cosmetic Industry
In cosmetics, Povidone K17 is used in hair care, skin care, and oral care products. It is particularly suitable for hair styling products due to its viscosity modification and film-forming properties[2].
Industrial Applications
Povidone K17 is also used in various industrial applications such as adhesives, inks, paints, coatings, and textiles. Its ability to act as an adhesive, emulsifier, and thickener makes it a valuable material in these sectors[2].
Regulatory and Safety Aspects
The use of PVP, including Povidone K17, is regulated by various health and safety standards. For instance, the European Food Safety Authority (EFSA) has re-evaluated the safety of PVP and polyvinylpolypyrrolidone (PVPP) for use in food and other applications, ensuring their safety for human consumption and other uses[5].
Conclusion
The market for Povidone K17, as part of the broader PVP market, is poised for significant growth driven by its extensive applications in pharmaceuticals, cosmetics, and other industries. The financial trajectory indicates a robust CAGR and substantial market size by 2030, making it an attractive segment for investors and manufacturers.
Key Takeaways
- Market Growth: The global PVP market, including Povidone K17, is growing at a CAGR of 6.7% and is expected to reach USD 3,083,156.56 thousand by 2030.
- Pharmaceutical Applications: Povidone K17 is crucial as an excipient in pharmaceutical products, serving as a binder, solubilizer, and film coat.
- Diverse Applications: Beyond pharmaceuticals, Povidone K17 is used in cosmetics, adhesives, and various industrial sectors.
- Regulatory Compliance: The use of PVP, including Povidone K17, is regulated by health and safety standards to ensure safety.
FAQs
Q: What is the primary use of Povidone K17 in the pharmaceutical industry?
A: Povidone K17 is primarily used as a binder, solubilizer, disintegrant, and film coat in solid drugs in the pharmaceutical industry.
Q: How does the COVID-19 pandemic impact the demand for Povidone K17?
A: The COVID-19 pandemic has increased the demand for pharmaceutical excipients like Povidone K17 due to the heightened need for vaccines and pharmaceutical drugs.
Q: What are the different grades of PVP, and how does Povidone K17 fit into these categories?
A: PVP is segmented into various grades based on molecular weight, such as K12, K17, K25, K30, etc. Povidone K17 falls under the low molecular weight category.
Q: What are some of the key applications of Povidone K17 beyond pharmaceuticals?
A: Povidone K17 is used in cosmetics, adhesives, inks, paints, coatings, and textiles due to its adhesive, film-forming, and dispersing properties.
Q: What is the expected market size of the global PVP market by 2030?
A: The global PVP market is expected to reach USD 3,083,156.56 thousand by 2030.
Sources
- Data Bridge Market Research: "Polyvinylpyrrolidone (PVP) Market Size, Trends & Growth Drivers By..."
- Ataman Chemicals: "Povidone K 17"
- Data Bridge Market Research: "Europe Polyvinylpyrrolidone (PVP) Market Size, Scope & Trends By..."
- Transparency Market Research: "Polyvinylpyrrolidone (PVP) Market Size, Growth Drivers - 2031"
- EFSA: "Re‐evaluation of polyvinylpyrrolidone (E 1201) and polyvinylpolypyrrolidone (E 1202)"
