Global Polyvinyl Butyral (PVB) Market is valued at approximately USD XX billion in 2021 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2022-2029. Polyvinyl butyral is a type of resin that is used for optical clarity, strong binding, adhesion to various surfaces, flexibility, and toughness. Polyvinyl butyral is formed from polyvinyl alcohol by reaction with butyraldehyde. The rising application of Polyvinyl Butyral (PVB) in various end-use industries, flourishing growth of the construction industry, and increase in demand for PVB films for window and sunroof applications in the automotive industry are the primary factors that are propelling the global market demand.
According to the report of Statista, in 2017, the construction industry spending stood at USD10.9 trillion, which is projected to grow and is likely to reach USD 12.5 trillion by the year 2030. Therefore, the development of the construction industry is fueling the demand for polyvinyl butyral, which, in turn, accelerates market growth around the world. In addition, surging demand from the photovoltaics industry, as well as the rising emphasis on improving the efficiency of thin films and introducing manufacturing techniques are the factors that act as catalyzing factors for market growth in the forthcoming years. However, the high recycling activities of PVB and imposition of stringent environmental regulations stifle market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Polyvinyl Butyral (PVB) Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the space in terms of revenue, owing to the growth of the electronics & electricals industry, as well as increasing investment in R&D activities. Whereas, Asia Pacific is expected to grow significantly during the forecast period, owing to factors such as growth of the emerging economies, geographic expansion of key players, and active participation of government and nonprofit organizations in the market space.
Major market players included in this report are:
Kuraray Co. Ltd.
Eastman Chemical Company
Sekisui Chemical Co. Ltd.
Chan Chun Group
Anhui WanWei Bisheng New Material Co., Ltd.
Kingboard (fo gang) Specialty Resins
Qingdao Jinuo New Materials Co.
Tridev Resin Pvt. Ltd.
Recent Developments in the Market:
In 2021, Eastman Chemical Company proclaimed that the company invested in upgrading its interlayer film extrusion line across Massachusetts, US, and enhancing the production capacity of the interlayer film business. The objective of this investment is to expand Eastman's supply capacity and fulfill the demand for Saflex polyvinyl butyral (PVB) interlayer film products.
In 2019, Kuraray Co. Ltd., declared the introduction of a new SentryGlas production line to meet the increasing demand in the commercial and residential building laminated safety glass market. Also, in 2021, the company announced to upgrade the production line of Holesov and allow the production of wider films.
Global Polyvinyl Butyral (PVB) Market Report Scope:
Historical Data: 2019-2020-2021
Base Year for Estimation: 2021
Forecast period: 2022-2029
Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered: Application, End-use Industry, Region
Regional Scope: North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Film & sheets
Paints & Coatings
By End-use Industry:
Electronics & Electricals
Rest of the World