Polyvinyl Butyral (PVB) Market Size (2024 - 2029)

The polyvinyl butyral market is anticipated to experience significant growth over the forecast period, driven by increasing applications in laminated glass and rising construction and infrastructure activities globally. Despite challenges such as the availability of substitutes and environmental concerns related to recycling in developed regions, the market is poised for expansion due to heightened demand from the photovoltaic sector and the growing adoption of electric vehicles. The Asia-Pacific region is expected to dominate the market, exhibiting the highest growth rate.

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Market Size of Polyvinyl Butyral (PVB) Industry

Polyvinyl Butyral (PVB) Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 6.00 %
Fastest Growing Market Asia-Pacific
Largest Market Asia-Pacific
Market Concentration High

Major Players

Polyvinyl Butyral (PVB) Market Major Players

*Disclaimer: Major Players sorted in no particular order

Polyvinyl Butyral (PVB) Market Analysis

During the time frame of the forecast, the polyvinyl butyral market is expected to grow at a CAGR of over 6%.

The market was negatively impacted by COVID-19. Given the pandemic situation, car manufacturing plants were temporarily halted to prevent the spread, limiting demand for PVB materials used to manufacture safe, impact-resistant automotive windscreens. However, the industry has picked up speed since 2021, and the market is expected to follow a similar trajectory throughout the projection period as well.

  • Over the short term, the growing number of laminated glass applications and the ever-increasing construction and infrastructure activities across the world are likely to boost market growth.
  • On the flip side, the availability of product substitutes in the market is expected to hinder the market's growth. The high amount of polyvinyl butyral recycling in developed economies could also hurt the market because it would cause environmental problems.
  • In the coming years, the market is likely to grow thanks to growing demand from the photovoltaic industry and more people buying electric cars.
  • During the period of the forecast, the Asia-Pacific region is expected to lead and have the highest CAGR.

Polyvinyl Butyral (PVB) Industry Segmentation

Polyvinyl butyral (PVB) is a clear, colorless, amorphous thermoplastic material that can be produced by reacting polyvinyl alcohol and butyraldehyde. It is mainly used in fabricating various laminated glass products for the automotive, construction, and photovoltaic end-user sectors, owing to its optical clarity and strong adhesive nature. The polyvinyl butyral (PVB) market is segmented by type, end-user industry, and geography. By type, the market is segmented into adhesive films, paints and coatings, printing inks and lacquers, and other types (binders for ceramics and composite fibers). By end-user industry, the market is segmented into automotive, construction, power generation, and other end-user industries (aerospace, defense). The report also covers the market size and forecasts for the polyvinyl butyral (PVB) market in 15 countries across the major regions. For each segment, the market sizing and forecast have been done on the basis of revenue (USD million).

Type
Adhesive Films
Paints and Coatings (including Wash Primers)
Printing Inks and Lacquers
Other Types (Binders for Ceramics and Composite Fibers)
End-user Industry
Automotive
Construction
Power Generation
Other End-user Industries (Aerospace, Defense)
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa
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Polyvinyl Butyral (PVB) Market Size Summary

The polyvinyl butyral (PVB) market is poised for significant growth over the forecast period, driven by its critical role as an interlayer in laminated glass applications. This polymer is renowned for its excellent mechanical properties, making it indispensable in the automotive industry for enhancing the safety and security of windshields. The market's recovery post-COVID-19 disruptions has been robust, with increasing demand from the automotive sector, particularly with the rise in electric vehicle production. Additionally, the expanding construction and infrastructure activities globally are expected to further propel market growth. However, the presence of substitute products and environmental concerns related to PVB recycling in developed regions pose challenges to market expansion.

The Asia-Pacific region is anticipated to lead the global PVB market, fueled by burgeoning construction and automotive industries in countries like China, India, Japan, and Singapore. These nations are witnessing substantial investments in solar energy production, which is expected to bolster the demand for PVB. The market is characterized by a partial consolidation, with major players such as Eastman Chemical Company, Kuraray Co. Ltd., and Sekisui Chemical Co. Ltd. holding significant market shares. Recent innovations, such as Eastman's Saflex FlySafe 3D, highlight the ongoing advancements in PVB applications, catering to both automotive and architectural markets. As these industries continue to grow, the PVB market is set to experience sustained demand and expansion.

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Polyvinyl Butyral (PVB) Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Growing Construction and Infrastructure Activities Across the World

      2. 1.1.2 Growing Applications for Laminated Glass

    2. 1.2 Restraints

      1. 1.2.1 Availability of Product Substitutes in the Market

      2. 1.2.2 High Recycling Activities of Polyvinyl Butyral in Developed Economies

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitutes

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION (Market Size in Value)

    1. 2.1 Type

      1. 2.1.1 Adhesive Films

      2. 2.1.2 Paints and Coatings (including Wash Primers)

      3. 2.1.3 Printing Inks and Lacquers

      4. 2.1.4 Other Types (Binders for Ceramics and Composite Fibers)

    2. 2.2 End-user Industry

      1. 2.2.1 Automotive

      2. 2.2.2 Construction

      3. 2.2.3 Power Generation

      4. 2.2.4 Other End-user Industries (Aerospace, Defense)

    3. 2.3 Geography

      1. 2.3.1 Asia-Pacific

        1. 2.3.1.1 China

        2. 2.3.1.2 India

        3. 2.3.1.3 Japan

        4. 2.3.1.4 South Korea

        5. 2.3.1.5 Rest of Asia-Pacific

      2. 2.3.2 North America

        1. 2.3.2.1 United States

        2. 2.3.2.2 Canada

        3. 2.3.2.3 Mexico

      3. 2.3.3 Europe

        1. 2.3.3.1 Germany

        2. 2.3.3.2 United Kingdom

        3. 2.3.3.3 France

        4. 2.3.3.4 Italy

        5. 2.3.3.5 Rest of Europe

      4. 2.3.4 South America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Argentina

        3. 2.3.4.3 Rest of South America

      5. 2.3.5 Middle-East and Africa

        1. 2.3.5.1 Saudi Arabia

        2. 2.3.5.2 South Africa

        3. 2.3.5.3 Rest of Middle-East and Africa

Polyvinyl Butyral (PVB) Market Size FAQs

The Polyvinyl Butyral (PVB) Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)

Chang Chun Group, Eastman Chemical Company, Sekisui Chemical Co., Ltd., Kingboard Fogang Specialty Resin Co., Ltd and KURARAY CO., LTD. are the major companies operating in the Polyvinyl Butyral (PVB) Market.

Polyvinyl Butyral (PVB) Market Report Snapshots

PVB Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)