Enjoy complimentary customisation on priority with our Enterprise License!
The Polyvinyl Butyral (PVB) Market size is forecast to increase by USD 1.47 billion, at a CAGR of 6.3% between 2023 and 2028.
The growth rate of the market depends on several factors, including the increasing demand for polyvinyl butyral films, the growing demand from the automotive sector, and the rising demand from APAC. It also includes an in-depth analysis of drivers, trends, and challenges. Our report examines historic data from 2018 - 2022, besides analyzing the current market scenario.
Polyvinyl butyral is an acetal resin that is used by end-users, such as the automotive industry, the construction sector, the transportation sector, and many more. Its unique properties are useful in the production of films and sheets, paints and coatings, adhesives, and primers. It is used as an adhesion promoter to improve the performance of paints and coatings when applied to various substances.
To Know more about the market report Request Free Sample
Our researchers analyzed the market research and growth data with 2023 as the base year, along with the key market growth analysis, trends, and challenges. A holistic analysis of drivers, trends, and challenges will help companies refine their marketing strategies to gain a competitive advantage.
Rising demand from APAC is notably driving the market. The global market is experiencing very high growth momentum in APAC due to the rise in the automotive and electronics sectors. In addition, the increased government support and funding to improve the infrastructure is one of the major reasons behind the huge demand for products such as polyvinyl butyral in APAC.
Moreover, polyvinyl butyral-based metal paints and primers are highly used in the electronics and construction sectors owing to their properties, such as corrosion resistance, quality finish, and aesthetic appeal. In addition, the growing importance of electronic gadgets and electronic equipment, which can be attributable to the superior performance and properties of polyvinyl butyral, creates an incremental growth opportunity for polyvinyl butyral. Hence, such factors are driving the market during the forecast period.
Increasing adoption of sustainable products is an emerging trend in the market. Increasing emphasis on reducing VOC emissions and sustainability has led polyvinyl butyral manufacturers to develop new, environment-friendly products. In addition, these products reduce carbon footprint. Currently, the newer products must not only be of superior quality but also be sustainable and low-cost.
Moreover, the growing demand from consumer applications is elevating the consumption of polyvinyl butyral in the near future. In addition, manufacturers are under immense pressure to use sustainable production methods. As the cost of polymer materials increases, so does the pollution generated by their waste. Furthermore, the recycling of polyvinyl butyral waste from end-of-life vehicle windscreens has gained much attention as a resource that can be reused and abundant. Hence, such factors are driving the market during the forecast period.
The higher production cost of polyvinyl butyral is a major challenge hindering the market. The global market experiences high raw material costs due to volatility in crude oil prices. In addition, the complicated production process of polyvinyl butyral increases the production cost. Furthermore, the production process involves the transesterification of polyvinyl acetate to obtain polyvinyl alcohol.
Moreover, the aqueous polyvinyl alcohol solution undergoes a chemical reaction with an aldehyde in the presence of mineral acid, which yields polyvinyl butyral. In addition, even though, the production of polyvinyl butyral is a two-step process, it is time-consuming. Polyvinyl butyral is obtained in different grades, and it is used in a variety of applications. Hence, such factors are negatively impacting the market. Therefore, it is expected to hinder the market during the forecast period.
The films and sheets segment is estimated to witness significant growth during the forecast period. This growth is fuelled by the efficient quality of polyvinyl butyral films and sheets. In addition, polyvinyl butyral films are used in a variety of applications, such as packaging a wide range of products, such as food, beverages, pharmaceuticals, and electronics. Furthermore, they are also used for making bags, labels, and shrink wrap, and they are used in medical applications, such as making surgical gloves, IV bags, and blood bags.
Get a glance at the market contribution of the End User segment Request Free Sample
The films and sheets segment was the largest segment and was valued at USD 2.67 billion in 2018. Moreover, the rapid growth of the automotive and construction industry is a major factor in the growth of the global polyvinyl butyral market. In addition, polyvinyl butyral-based sheets and films are majorly used to manufacture windshields in the automobile industry as they provide noise reduction, durability, and weather resistance. Furthermore, the growing demand for thin films to manufacture solar panels will create more growth opportunities for the global polyvinyl butyral market. Hence, such factors are fuelling the growth of this segment which in turn drives the market during the forecast period.
Based on the end-user, the market has been segmented into automotive, building and construction, electrical and electronics, and others. The automotive segment will account for the largest share of this segment. Polyvinyl butyral is one of the specialty resins increasingly used as a raw material in automotive laminate safety glass sheets. In addition, laminated safety glass is the primary interlayer used in automotive applications. Moreover, while laminated glass has been used as the primary interlayer in windshields for decades, laminated glass is increasingly being used in the production of side and roof paneling on luxury vehicles to improve safety, reduce noise, and transfer light. Hence, such factors are fuelling the growth of this segment which in turn drives the market during the forecast period.
APAC is estimated to contribute 35% to the growth of the global market during the projection period. Technavio's analysts have provided extensive insight into the market forecasting, detailing the regional trends and drivers influencing the market's trajectory throughout the projection period.
For more insights on the market share of various regions Request Free Sample
The significant growth of the automobile and construction sectors is one of the most crucial factors for the increased growth of the market in APAC. In addition, the increased demand for laminated films and sheets from the construction and architectural sectors will also create a good growth opportunity for the market in this region. Moreover, polyvinyl butyral resin is widely used in the automobile sector for manufacturing weather-resistant windshields. In addition, it is also a vital component in metallic paints. Furthermore, the growth of metallic parts in the electronics, automobile, and construction sectors creates additional opportunities for the market in this region. In addition, the growing demand for polyvinyl butyral from China, Japan, India, and South Korea can propel the the market. Hence, such factors are driving the market in APAC during the forecast period.
Companies are implementing various market growth and forecasting strategies by analyzing factors such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product or service launches to enhance their presence in the market.
Arpadis Benelux NV: The company offers polyvinyl butyral resins which is mainly used as a raw material for laminated safety glass sheets in automotive and architectural applications.
The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Central Drug House P Ltd., Chang Chun Group, DUBI Chem Marine International, Eastman Chemical Co., Everlam NV, HENAN JINHE INDUSTRY CO. LTD., KURARAY Co. Ltd., Shark Solutions ApS, Sinoever International Co. Ltd, SIVA CHEMICAL IND, Swastik Interchem Pvt Ltd., TER Chemicals GmbH and Co. KG, TRIDEV RESINS PVT. LTD., WMC Glass, M S Jainish Industries, MHM Holding GmbH, Synpol Products Pvt. Ltd., Uniform Synthetics, and Vizag Chemical International
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market report predicts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
Market Analyst Overview
The market is poised for growth, driven by the booming photovoltaic industry and infrastructure bills promoting construction spending. PVB finds applications in diverse sectors like airports, railways, paints, coatings, paper, and packaging, contributing to capacity additions. Government regulations, public-private partnerships, and foreign direct investments further enhance its presence. In the automobile industry, PVB plays a crucial role in laminated glass protective interlayers, ensuring safety in SUVs, sedans, and luxury cars. With increasing solar energy generation activities, PVB's significance extends to photovoltaic thin film solar modules, encapsulation materials, and UV protection in solar cells. Ongoing research and technological developments in films and sheets, coupled with the industry's focus on sustainable bonding materials, position PVB as a key player in the evolving landscape of clean energy regulations.
Polyvinyl Butyral (PVB) proves instrumental in the automobile industry, enhancing safety through laminated glass interlayers, and influencing automobile production and industrialization. PVB resins play a vital role, especially in collision scenarios, in ensuring the performance of glass. In the photovoltaic sector, PVB is crucial for solar module manufacturers and the solar energy generation industry. The market's relevance extends to films and sheets, addressing concerns like smoke generation and flammability. With ongoing research and development activities, PVB remains at the forefront of technological advancements. Its usage in the electrical and electronics industry, coupled with its role in adhering to clean energy regulations, solidifies PVB's position as a multifaceted solution in emerging economies amid rapid urbanization and evolving living standards.
|
Polyvinyl Butyral Market Scope |
|
|
Report Coverage |
Details |
|
Page number |
166 |
|
Base year |
2023 |
|
Historic period |
2018-2022 |
|
Forecast period |
2024-2028 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 6.3% |
|
Market growth 2024-2028 |
USD 1.47 billion |
|
Market structure |
Fragmented |
|
YoY growth 2023-2024(%) |
5.75 |
|
Regional analysis |
APAC, North America, Europe, South America, and the Middle East and Africa |
|
Performing market contribution |
APAC at 35% |
|
Key countries |
US, China, Japan, India, and Germany |
|
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
|
Key companies profiled |
Arpadis Benelux NV, Central Drug House P Ltd., Chang Chun Group, DUBI Chem Marine International, Eastman Chemical Co., Everlam NV, HENAN JINHE INDUSTRY CO. LTD., KURARAY Co. Ltd., Shark Solutions ApS, Sinoever International Co. Ltd, SIVA CHEMICAL IND, Swastik Interchem Pvt Ltd., TER Chemicals GmbH and Co. KG, TRIDEV RESINS PVT. LTD., WMC Glass, M S Jainish Industries, MHM Holding GmbH, Synpol Products Pvt. Ltd., Uniform Synthetics, and Vizag Chemical International |
|
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
|
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Get the report (PDF) sent to your email within minutes.
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.
