The Global Polyvinyl Butyral Market Size accounted for USD 3.1 Billion in 2021 and is projected to occupy a market size of USD 5.3 Billion by 2030 growing at a CAGR of 6.1% from 2022 to 2030.
Polyvinyl butyral (PVB) is a unique polymer with numerous applications requiring binding affinity, optical clarity, adhesion to a variety of surfaces, toughness, and flexibility. Polyvinyl butyral is found in a wide range of paints, coatings, and adhesives. PVB is created by reacting polyvinyl alcohol with butyraldehyde. The primary application is layered safety glass for car windshields.
Polyvinyl Butyral Market Report Statistics
Global Polyvinyl Butyral (PVB) Market Dynamics
Polyvinyl Butyral Market Report Coverage
|Market||Polyvinyl Butyral Market|
|Polyvinyl Butyral Market Size 2021||USD 3.1 Billion|
|Polyvinyl Butyral Market Forecast 2030||USD 5.3 Billion|
|Polyvinyl Butyral Market CAGR During 2022 - 2030||6.1%|
|Polyvinyl Butyral Market Analysis Period||2018 - 2030|
|Polyvinyl Butyral Market Base Year||2021|
|Polyvinyl Butyral Market Forecast Data||2022 - 2030|
|Segments Covered||By Application, By End-Use Industry, And By Geography
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||Qingdao Haocheng Co., Ltd., Eastman Chemical Co., Dulite Co., Limited, Chang Chun Company Limited, Everlam, Sekisui Chemical Company Limited, Tiantai Kanglai Co., Kuraray Co., Limited, King board Specialty Resins Limited, and Huakai Plastic Co., Ltd.|
||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
Polyvinyl Butyral Market Growth Factors
Rising usage of laminated glasses in residential and non-residential building because of its few properties, for example, durability, UV radiation control, sound reduction, weather resistance, and is one of the key patterns raising business sector development.
PVB is essentially utilized as a glass interlayer in a few end-use industries, for example, architectural and automotive applications. These businesses use restricted glass as a defensive interlayer, which is combined between two boards of glass. Different properties of PVB movies and sheets incorporate high straightforwardness, great effect opposition, extraordinary flexibility, and high elasticity.
Polyvinyl Butyral Market Insights
High accessibility of PVB in different sizes and shapes is ready to expand its interest soon. In any case, value variances of raw materials including polyvinyl liquor and butyraldehyde are evaluated to negatively affect the development of the market. For instance, In April 2015, Sekisui Specialty Chemicals, one of the major polyvinyl liquor producers, declared value climb of polyvinyl liquor by USD 100 for each metric ton.
PVB is essentially utilized as a glass interlayer in a few end-use industries, for example, architectural and automotive applications. These businesses use restricted glass as a defensive interlayer, which is combined between two boards of glass. Different properties of PVB movies and sheets incorporate high straightforwardness, great effect opposition, extraordinary flexibility, and high elasticity. The need for PVB movies and sheets is foreseen to observe sound ascent over the coming a long time because of its use in sunlight based vitality such as solar energy, ground transportation, and building and development. Additionally, increasing need for photovoltaic modules in China and Japan is relied upon to enlarge the utilization of product in the solar energy segment.
Polyvinyl Butyral Market (PVB) Segmentation
The global polyvinyl butyral market is segmented based on application, industry vertical, and geography.
Polyvinyl Butyral Market By Application
According to polyvinyl butyral market forecast, films & sheets application collected an impressive chunk of market shares in 2021 and is likely to do so in the coming years. PVB sheets and films are used to make laminated glasses. These glasses are primarily used in the automotive and architectural industries. The strength and durability of these glasses are to blame for the increase in demand for PVB, which has resulted in a significant market augmentation. The expansion of the industrial sector is expected to drive demand for PVB-based paints and coatings.
Polyvinyl Butyral Market By End-Use Industry
According to the polyvinyl butyral industry analysis, the automotive sector will account for more than half of the total market share in 2021. PVB films have a significant market share because they provide graphic protection, a long-lasting finish, and prevent the growth of bubbles on the surface. The global shift toward renewable energy generation is expected to boost PVB consumption in the electronics and electrical industries. The growth of PVB in the electrical and electronics industry is expected to be fueled by government regulations on clean energy and the desire for high efficiency solar cells.
Polyvinyl Butyral Market Regional Outlook
The Middle East & Africa
Polyvinyl Butyral Market Regional Analysis
From a topographical front, Asia-Pacific region conquered the utmost market shares from 2022 to 2030, due to the expanding construction and automotive industries. In addition, expanding utilization of PVB in packaging applications is one of the essential development stimulants of the market in Asia-Pacific. In addition, developing utilization of laminated glasses and glues in medicinal packaging so as to counteract contaminations and keep up well being and security principles is evaluated to work for the regional market.
Latin America is also driving the market and is required to demonstrate a similar pattern over the estimate time frame. Expanding automotive manufacturing in Argentina, Brazil, and Columbia is probably going to positively affect the market in the region.
Automotive manufacturers are indicating enormous enthusiasm for putting resources into Latin America, which is anticipated to goad the market for PVB. Rise of development organizations in Chile and Peru attributable to quick monetary advancement is anticipated to make development potential for the local market over the coming years.
Polyvinyl Butyral Market Players
The key players catering to the global polyvinyl butyral (PVB) market are Qingdao Haocheng Co., Ltd., Eastman Chemical Co., Dulite Co., Limited, Chang Chun Company Limited, Everlam, Sekisui Chemical Company Limited, Tiantai Kanglai Co., Kuraray Co., Limited, King board Specialty Resins Limited, and Huakai Plastic Co., Ltd. Significant strategic initiatives undertaken by global businesses include partnerships, new product launch, acquisitions.
The market size of polyvinyl butyral market in 2021 was accounted to be USD 3.1 Billion.
The projected CAGR of polyvinyl butyral market during the analysis period of 2022 to 2030 is 6.1%.
The prominent players of the global polyvinyl butyral market Qingdao Haocheng Co., Ltd., Eastman Chemical Co., Dulite Co., Limited, Chang Chun Company Limited, Everlam, Sekisui Chemical Company Limited, Tiantai Kanglai Co., Kuraray Co., Limited, King board Specialty Resins Limited, and Huakai Plastic Co., Ltd.
Asia-Pacific held the dominating polyvinyl butyral during the analysis period of 2022 to 2030.
North America region exhibited fastest growing CAGR for polyvinyl butyral during the analysis period of 2022 to 2030.
Growth in construction activities, surging demand for PVB films in automotive sector, and rising end-use industries in APAC region drives the growth of global polyvinyl butyral market.
Based on application, films and sheet segment is expected to hold the maximum share of the polyvinyl butyral market.