Global Polyvinyl Butyral Market is Anticipated to Witness Robust Growth in the Forecast Period, 2024-2028 due to the Increasing Demand from Automotive Industries. in 2021, the Estimated Revenue of the Automotive Industry is USD 486.11 Billion.
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Global Polyvinyl Butyral Market is anticipated to witness robust growth in the forecast period, 2024-2028 due to the increasing demand from automotive industries. In 2021, the estimated revenue of the automotive industry is USD 486.11 Billion.
Polyvinyl butyral (PVB) is a well-known thermoplastic (non-cross-linked) encapsulant. Long utilized in the PV industry for building-integrated photovoltaics (BIPV) and thin-film technology with a glass-to-glass arrangement, it is also employed in architecture for safety-glass laminates. The high-water intake of PVB has the drawback of making it particularly susceptible to hydrolysis. As a result, it is not utilized in crystalline Si solar modules made of glass or a back sheet. It was used in thin film-based and glass-glass solar modules.
PVB is widely used in aircraft windows for noise reduction, automobile sunroofs for improved safety, and as an interlayer in the glass. Applications for PVB films and sheets in the construction industry are driven by increasing residential housing demand, increasing urbanization, and a rising economy, all of which are expected to assist the expansion of the PVB market throughout the forecast period. In the photovoltaic sector, PVB films are also utilized as an encapsulating material to lengthen the lifespan of solar panels. These factors are expected to boost market expansion.
Growing Uses of Polyvinyl Butyral in Various Sectors
Polyvinyl butyral (PVB) is used in various industrial applications owing to its excellent chemical and physical properties. Polyvinyl butyral is a crucial raw material for industrial compounds like industrial adhesives, wood coatings, and inks. It is commonly used to produce high-grade surface coatings and other resins for better performance and functionality. Moreover, they are also used for binding and adhesion purposes on different surfaces. All these factors are propelling the market's growth.
Rising Usage in Construction Industry
Polyvinyl butyral (PVB) is produced through a complicated reaction of alcohol and aldehyde, which is highly efficient and dynamic, making it ideal for construction applications. Polyvinyl butyral is used to create laminated glass, which is the perfect choice for a sustainable and eco-friendly life. Laminated glass is energy efficient and protects us from harmful UV rays. Polyvinyl butyral is also used to make films, which are further used in the construction industry. PVB films are used inside to protect furniture and plastic products from UV radiation.
Recent Developments
- In 2021, Eastman Chemical Company upgraded and expanded its production line at its Springfield, Massachusetts, manufacturing facility. The investment aims to upsurge regional and global demand for Saflex polyvinyl butyral (PVB) products in the automotive and architectural markets and improve facility capabilities to enable the production of specialty architecture and automotive PVB products.
Market Segmentation
Global Polyvinyl Butyral Market is segmented based on Applications and End-Use. Based on Applications, the market is divided into Films and Sheets, Paints and Coatings, Adhesive & Others. Based on End-Use, the market is fragmented into Automotive, Construction, Electrical & Electronics and Others.
Market players
Kuraray Co. Ltd., Eastman Chemical Company, Sekisui Chemical Co. Ltd., MHM Holding GmbH, Chang Chun Group, Anhui Wanwei Bisheng New Material Co. Ltd., Kingboard Specialty Resins Limited, Qingdao Jinuo New Materials Co. Ltd., Huakai Plastic Co. Ltd. and Tridev Resins Pvt. Ltd. are some of the key players operating in the market.
Report Scope:
In this report, Global Polyvinyl Butyral Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Polyvinyl Butyral Market, By Applications:
- Films and Sheets
- Paints and Coatings
- Adhesive
- Others
Polyvinyl Butyral Market, By End-Use:
- Automotive
- Construction
- Electrical & Electronics
- Others
Polyvinyl Butyral Market, By Region:
- Europe
- France
- Germany
- United Kingdom
- Russia
- Sweden
- Denmark
- Switzerland
- North America
- United States
- Canada
- Mexico
- Asia-Pacific
- China
- India
- Japan
- Australia
- South Korea
- Middle East and Africa
- Saudi Arabia
- UAE
- Qatar
- South America
- Brazil
- Argentina
- Colombia
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the Global Polyvinyl Butyral Market.
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Table of Contents
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Kuraray Co. Ltd.
- Eastman Chemical Company
- Sekisui Chemical Co. Ltd.
- MHM Holding GmbH
- Chang Chun Group
- Anhui Wanwei Bisheng New Material Co. Ltd.
- Kingboard Specialty Resins Limited
- Qingdao Jinuo New Materials Co. Ltd.
- Huakai Plastic Co. Ltd.
- Tridev Resins Pvt. Ltd.
