Polyvinyl Butyral (PVB) Market size is forecast to reach $3.5 billion by 2025, after growing at a CAGR of 6.9% during 2020-2025. With rise in the consumption of polyvinyl butyral (PVB) in Vehicles and architectural works, the polyvinyl butyral (PVB) market is witnessing an increase in demand, as. Growing public interest towards sustainable and environment-friendly products will further enhance the overall market demand for polyvinyl butyral (PVB) during the forecast period.
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Application – Segment Analysis
Films and sheets holds the largest share in polyvinyl butyral market as one of the major uses of PVB is safety glass. Due to PVB’s good adhesion to glass, most of the splinters of fractured glass will adhere to the surface of the PVB film and thus prevent personal injury by large and sharp glass fragments. PVB laminated glass also offers an improved sound barrier, good impact resistance, and almost 100% absorption of UV light. PVB films are also important for the protection of interiors from fading due to UV exposure. PVB films also find applications in the construction or Real Estate industry, as laminated safety and security glass, as well as in the photovoltaic industry to improve the long-term durability of solar modules. So, due to these wide use of PVB, the polyvinyl butyral market will grow.
End-Use – Segment Analysis
Automotive industry holds the largest share for the polyvinyl butyral market, as PVB films used for safety glass, are mostly used in the automotive industry. Because of the continuous increase in number of vehicles around the world, the polyvinyl market is also growing. The interlayer film is applied in car windshields, side-, back- and roof-glazing, for passenger safety. It also offers benefits to the automotive industry by offering eco-friendly environmental comfort, noise reduction, protection against UV-rays, protection against break-in, acoustic protection and InfraRed-protection. Every company in automotive sector are using PVB films, as this is one of the most important component used during the manufacturing of any vehicle.
Geography – Segment Analysis
APAC has dominated the polyvinyl butyral market, as APAC have most number of vehicles in the world. According to the production statistics 2019 from the International Organization of motor vehicle manufacturer (OICA), APAC had produced 52.65 million vehicles, which is the most number of vehicles produced around the globe. Countries such as China, India among with others in the APAC region, will be the core regions for the polyvinyl butyral market, as these countries consist the most number of vehicles in the APAC. So, as the automotive industry rises, the demand for polyvinyl market will also increase. APAC also have the largest roadway network in the world, AH1 is the longest route of the Asian Highway Network, running from Tokyo, Japan via Korea, China, Southeast Asia, Bangladesh, India, Pakistan, Afghanistan and Iran to the border between Turkey and Bulgaria west of Istanbul where it joins end-on with European route E80.
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Drivers – Polyvinyl Butyral Market
PVB properties such as absorption of UV light, protection against break-in, acoustic protection and InfraRed-protection had increased the demand for polyvinyl butyral (PVB) in the Buildings and construction market. Contractors are also looking more toward the use of PVB films or sheets in the corporate offices.
Polyvinyl butyral (PVB) is easy to manufacture and are available in market at a very reasonable prices. So, they are easily available to the different industries. Polyvinyl butyral (PVB) is prepared by reaction of polyvinyl alcohol in aqueous solution and butyric aldehyde, in the presence of an acid catalyst and sodium dioctylsulphosuccinate as an emulsifier.
Challenges – Polyvinyl Butyral Market
The rapid spread of coronavirus has had a major impact on global Polyvinyl Butyral (PVB) markets as, major economies of the world are completely lockdown due to this pandemic. Because of this major lockdown, suddenly all the consumer market has started to show zero interest towards purchasing Polyvinyl Butyral (PVB) films. One of the major difficulties, market is facing are the shutdown of all kinds of International transportation. Global crisis for all sectors including shipping, which was hit by slowing demand in PVB’ production and exports had slowdown the market for PVB Butyral (PVB).
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Polyvinyl Butyral (PVB) Market. In 2019, the market of Polyvinyl Butyral (PVB) has been consolidated by the top five players accounting for xx% of the share. Major players in the Polyvinyl Butyral (PVB) Market are Eastman Chemical Company, Kuraray Co., Ltd., Sekisui Chemical Co., Ltd., Huakai Plastic Co. Ltd., Chang Chun Petrochemicals Co. Ltd., Kingboard Chemical Holdings Ltd., among others.
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