Certified Global Research Member
Key Questions Answered
- Global Market Outlook
- In-depth analysis of global and regional trends
- Analyze and identify the major players in the market, their market share, key developments, etc.
- To understand the capability of the major players based on products offered, financials, and strategies.
- Identify disrupting products, companies, and trends.
- To identify opportunities in the market.
- Analyze the key challenges in the market.
- Analyze the regional penetration of players, products, and services in the market.
- Comparison of major players’ financial performance.
- Evaluate strategies adopted by major players.
- Recommendations
Why Choose Market Research Future?
- Vigorous research methodologies for specific market.
- Knowledge partners across the globe
- Large network of partner consultants.
- Ever-increasing/ Escalating data base with quarterly monitoring of various markets
- Trusted by fortune 500 companies/startups/ universities/organizations
- Large database of 5000+ markets reports.
- Effective and prompt pre- and post-sales support.
Market Dynamics of Polyvinyl Butyral Market:
Increasing Demand: The polyvinyl butyral (PVB) market is experiencing a steady increase in demand, driven by its versatile applications across industries such as automotive, construction, and photovoltaic.
Automotive Sector Growth: The automotive industry is a major consumer of PVB, using it primarily for manufacturing laminated safety glass for windshields and windows. The growing automotive production worldwide fuels the demand for PVB, as safety regulations mandate the use of laminated glass for passenger safety.
Construction Industry Influence: In the construction sector, PVB is widely used in the production of laminated glass for windows, facades, and skylights. The booming construction activities globally, especially in emerging economies, contribute significantly to the demand for PVB as builders prioritize safety and energy efficiency in buildings.
Solar Energy Applications: PVB finds application in the photovoltaic industry for encapsulating photovoltaic modules, enhancing their durability and performance. With the increasing adoption of solar energy as a renewable energy source, the demand for PVB in this sector is on the rise.
Safety and Security Concerns: Heightened safety and security concerns, both in automotive and construction sectors, drive the demand for laminated glass, thereby propelling the demand for PVB as a key component in laminated glass production.
Technological Advancements: Technological advancements in PVB manufacturing processes have led to the development of high-performance PVB grades with enhanced properties such as optical clarity, UV resistance, and impact resistance, further expanding its applications and market potential.
Environmental Regulations and Sustainability: Stringent environmental regulations regarding the use of hazardous materials in manufacturing processes push manufacturers to develop eco-friendly alternatives. PVB's recyclability and compatibility with green building standards contribute to its growing adoption as a sustainable material.
Market Consolidation and Competition: The PVB market is characterized by intense competition among key players striving to innovate and expand their product portfolios. Mergers, acquisitions, and strategic partnerships are common strategies adopted by companies to strengthen their market presence and gain a competitive edge.
Price Volatility of Raw Materials: Fluctuations in the prices of raw materials, particularly ethylene and butanol, which are key components in PVB production, impact the overall production costs and pricing strategies of PVB manufacturers.
Regional Market Dynamics: Market dynamics vary across regions, influenced by factors such as economic growth, infrastructure development, automotive production trends, and regulatory landscape. Emerging economies exhibit high growth potential due to increasing urbanization and industrialization.
COVID-19 Impact: The COVID-19 pandemic initially caused disruptions in supply chains and manufacturing activities, affecting the PVB market. However, as economic activities resume and industries recover, the demand for PVB is expected to rebound, driven by the resumption of construction projects and automotive production.
Innovation and Product Development: Ongoing research and development activities focus on enhancing the properties of PVB, such as transparency, adhesion, and durability, to meet evolving industry requirements and consumer preferences.
Consumer Awareness and Preference: Growing consumer awareness regarding safety, sustainability, and energy efficiency influences purchasing decisions, driving the demand for PVB-based products in automotive and construction applications.
Government Initiatives and Incentives: Government initiatives promoting energy-efficient building materials and renewable energy technologies further stimulate the demand for PVB, creating opportunities for market growth.
Long-term Growth Prospects: Despite short-term challenges, the PVB market exhibits promising long-term growth prospects, fueled by expanding applications, technological advancements, and increasing focus on safety, sustainability, and regulatory compliance across industries.
Polyvinyl Butyral Market Highlights:
Polyvinyl Butyral Market Overview
The global polyvinyl butyral market is projected to reach over USD 4.12 billion in terms of value by 2030, growing with the CAGR of 5.8% during the forecast period. The polyvinyl butyral is a resin which has excellent binding efficiency, good elasticity, adhesion, flexibility, and toughness. It finds a wide range of application in the commercial and industrial sector that includes printing ink, films for lamination, coatings & premiers, adhesive, and binders for metal powders & ceramics. Increase in demand for polyvinyl butyral has compelled manufacturers to expand their production capacities, for instance, Eastman Chemical Co. Ltd has expanded polyvinyl butyral production capacity in Suzhou, China. The company has taken such initiative to serve global customer’s needs in the region with shorter lead time, polyvinyl butyral produced is mainly for automotive windshield application.
Polyvinyl butyral (PVB) finds significant application in laminated safety glass for automotive windshields. Shifting consumer trends from private car ownership to shared mobility services has slightly reduced the sales of automotive vehicles. Though, due to the rise in global middle-class consumers and positive economic outlook, worldwide automotive sales are expected to remain positive in the coming years. Such trends are projected to drive the application of polyvinyl butyral in automotive windshield during the forecast period. In the construction industry, polyvinyl butyral material is used as laminated safety and security glass. Growing construction and infrastructure activities across the globe are projected to drive the polyvinyl butyral market during the forecast period. According to the US Census Bureau, construction spending on May 2019 was USD 1,293.9 billion further Asia-Pacific construction activities is also expected to boost the polyvinyl butyral market during the review period.
Global Polyvinyl Butyral Market Share, by End-use, 2018 (%)
Source: MRFR analysis
Regional Analysis
The global polyvinyl butyral market has been studied across five key regions, namely Asia-Pacific, North America, Latin America, Europe, and the Middle East & Africa.
Asia-Pacific polyvinyl butyral market is expanding at a steady growth rate due to expanding automotive and construction industry in the region. China and India are the fastest-growing polyvinyl butyral market due to substantial public sector investment in the region for economic development. Further, high demand for energy is driving the photovoltaic method for converting solar energy into electricity, which is increasing the application of polyvinyl butyral in the region.
North America is the second-largest polyvinyl butyral market, an increase in the number of a construction project in the region has positively influenced market growth. New construction in the residential sector is estimated to drive the demand for polyvinyl butyral product. Europe polyvinyl butyral market is estimated to grow at a sluggish rate owing to the economic slowdown in the region, however, in coming years, the market is expected to recover, which is likely to propel market growth.
The Latin America and Middle East & Africa region is estimated to grow at a steady rate due to increasing investment in construction and photovoltaic industry, thus making higher demand for polyvinyl butyral in the region.
Market Segmentation
The global polyvinyl butyral market has been segmented based on application, end use, and region. Based on application, the global market has been divided into films & sheet, adhesives, binders, coatings, others. The films & sheet segment is the fastest-growing segment owing to a wide application in automotive and construction. The end use segment has been segregated based on building & construction, automotive, photovoltaic, others, the automotive segment the dominates the global polyvinyl butyral market with around 28% share.
Key Players
Some of the leading players in the global polyvinyl butyral market are Eastman Chemical Company (US), Kuraray Co., Ltd (Japan), DuPont (US), Sekisui Chemical Co., Ltd (Japan), Kingboard Chemical Holdings Limited (Hong Kong), Tiantai Kanglai Industrial Co., Ltd (China), Zhejiang Pulijin Plastic Co., Ltd (China), Chang Chun Petrochemicals Co. Ltd (China) , Everlam (Belgium), DuLite (US), and Anhui Wanwei Group Co., Ltd (China).
Recent Development
August 2021- Avient, a global manufacturer of specialized polymer materials headquartered in Avon Lake, Ohio, announced that the company had added laminated architectural glass and retrieved polyvinyl butyral (PVB) from car windshields to its portfolio of reSound R thermoplastics elastomers (TPEs). The conclusion of the partnership Shark Solutions, a Denmark-based global leader in advanced sustainable PVB, Avient’s reSound R TPEs will comprise 25% of post-consumer recycled PVB. The new reSound R grades, developed in 45 to 55 Shore A durometers, are ideal for general-purpose applications in the automotive and consumer industries. The moldable injection TPEs can be over-molded to polypropylene (PP) and come in a natural grade, effortlessly colored.
March 2021 – Eastman Chemical Company announced an investment to enhance and extend its extrusion capabilities to manufacture interlayers product lines at its Springfield, Massachusetts, production plant. The investment will empower Eastman’s supply capability to answer to local and global demand for Saflex® polyvinyl butyral (PVB) products in the architectural and automotive markets and improve facility capabilities to allow the production of specialty architecture and automotive PVB products, including advanced tri-layers formulations and thicker gauges such as Saflex® acoustic interlayer products. The project is anticipated to be finished in the fourth quarter of 2021.
Intended Audience
- Polyvinyl butyral manufacturers
- Traders and distributors of polyvinyl butyral chemicals
- Research and development institutes
- Potential investors
- Raw material suppliers
- Nationalized laboratories
Leading companies partner with us for data-driven Insights
Kindly complete the form below to receive a free sample of this Report
Tailored for You
- Dedicated Research on any specifics segment or region.
- Focused Research on specific players in the market.
- Custom Report based only on your requirements.
- Flexibility to add or subtract any chapter in the study.
- Historic data from 2014 and forecasts outlook till 2040.
- Flexibility of providing data/insights in formats (PDF, PPT, Excel).
- Provide cross segmentation in applicable scenario/markets.
