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The Market Trends of Polyvinyl Butyral (PVB) Market showcase several significant factors driving its evolution:
Increasing Demand in Construction: The PVB market is experiencing a surge in demand, particularly in the construction sector. PVB is widely used as an interlayer in laminated glass for its excellent adhesive properties and ability to enhance glass strength and safety. With the booming construction industry worldwide, especially in emerging economies, the demand for PVB in architectural applications is on the rise.
Growth in Automotive Sector: Another key driver of the PVB market is the automotive industry. PVB films are extensively utilized in automotive windshields for their ability to provide impact resistance and reduce the risk of injuries in case of accidents. The growing production of automobiles globally, coupled with the increasing emphasis on safety standards, is fueling the demand for PVB in the automotive sector.
Advancements in Manufacturing Technologies: Technological advancements in PVB manufacturing processes are contributing to market growth. Innovations such as the development of high-performance PVB formulations with enhanced optical clarity, UV resistance, and durability are expanding the application scope of PVB in various industries, driving market penetration.
Rising Focus on Safety and Security: The increasing awareness regarding safety and security measures in buildings and automobiles is driving the adoption of PVB-based laminated glass. PVB interlayers provide protection against impact, penetration, and UV radiation, making them ideal for applications where safety and security are paramount, such as in windows, doors, and automotive glazing.
Growing Popularity of Energy-Efficient Glazing: Energy-efficient glazing solutions incorporating PVB interlayers are gaining popularity in response to the escalating demand for sustainable building materials. PVB laminated glass helps improve thermal insulation, reduce energy consumption, and enhance indoor comfort, aligning with global efforts to mitigate climate change and promote energy efficiency in buildings.
Expansion in Emerging Markets: Emerging markets, particularly in Asia-Pacific and Latin America, present lucrative opportunities for PVB manufacturers. Rapid urbanization, infrastructural development, and increasing investments in construction and automotive sectors in these regions are driving market expansion. Moreover, government initiatives promoting green building practices and safety regulations are further stimulating demand for PVB-based products.
Focus on Recycling and Sustainability: Sustainability concerns are influencing market trends in the PVB industry, leading to efforts towards recycling and eco-friendly solutions. Manufacturers are increasingly investing in research and development to develop recyclable PVB formulations and explore alternative sources of raw materials, reducing the environmental footprint of PVB production and disposal.
Impact of COVID-19 Pandemic: The COVID-19 pandemic has had varying effects on the PVB market. While disruptions in supply chains and construction activities initially affected market dynamics, the gradual recovery of the construction and automotive sectors, coupled with the growing demand for safety and security solutions, has helped stabilize the market.
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
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