GVR Report cover Polyvinyl Butyral Market Size, Share & Trends Report

Polyvinyl Butyral Market Size, Share & Trends Analysis Report By Application (Films & Sheets, Paints & Coatings, Adhesives), By Region, And Segment Forecasts, 2018 - 2024

  • Report ID: GVR-1-68038-184-9
  • Number of Pages: 150
  • Format: Electronic (PDF)

Industry Insights

The global polyvinyl butyral market size was estimated at 355.8 kilotons in 2015. Rising utilization of laminated glasses in residential and non-residential buildings as a result of its several properties such as durability, UV radiation control, weather resistance, and sound reduction is one of the key trends escalating market growth.

U.S. polyvinyl butyral market

Polyvinyl butyral (PVB) is significantly used as a glass interlayer in several end-use industries such as automotive and architectural applications. These industries utilize limited glass as a protective interlayer, which is fused between two panels of glass. Various properties of PVB films and sheets include high transparency, good impact resistance, outstanding elasticity, and high tensile strength.

The demand for PVB films and sheets is anticipated to witness healthy rise over the coming years as a result of its usage in solar energy, ground transportation, and building & construction. Moreover, surging demand for photovoltaic modules in China and Japan is expected to augment the consumption of product in the solar energy segments.

The market is likely to exhibit significant growth over the coming years as a result of increasing usage in various end-use industries including automotive, construction, and photovoltaic. Properties such as good adhesion, excellent recyclability, and security coupled with solar energy control and aesthetic appearance will induce the demand for polyvinyl butyral among consumers.

Butyraldehyde and polyvinyl alcohol, the major raw materials utilized in the production of PVB, are extracted from carbon compounds and petroleum. The volatile nature of these raw materials not only affects their pricing in the market but also behaves as a limitation for the usage of PVB in automotive and construction applications.

However, growing number of off-grid solar projects as well as residential and commercial buildings in Latin America and Asia Pacific are poised to stimulate the market for laminated and safety glasses. Spiraling product demand for the manufacturing of solar panels is projected to open new avenues over the upcoming years. In addition, extensive usage in the construction industry owing to its high resistance to UV radiations and harsh weather is estimated to supplement industry expansion.

Polyvinyl Butyral Market Trends

Polyvinyl butyral is used for manufacturing films & sheets, which find application in architectural laminated and safety glasses. Laminated glasses are expected to witness significant demand on account of their extensive use in windows, staircases, walls, and exteriors. PVB laminated glasses offer thermal insulation, solar control, fire resistance, noise control, aesthetic appeal, and safety & security in building & construction applications.

Developing construction sector on account of rapid urbanization, population growth, and government infrastructural plan is expected to augment the growth of the PVB market. Increase in hospitals, schools, government buildings, and defense infrastructure is also anticipated to spur the demand for PVB over the next few years.

Construction spending expected to increase across South Asian and Southeast Asian nations. In addition, Asia Pacific capital project and infrastructure market is expected to grow at 7-8% a year, thus reaching USD 5,300 billion by 2025 and accounting for nearly 60% of the global market.

Laminated glasses are extensively used in airports for the effective use of terminal floor area and to create visually appealing terminal buildings. Infrastructural developments such as Greenfield airport construction and Brownfield airport expansion are projected to thrive the demand for PVB. The upgrade of airports in the metro and non-metro cities of India, in association with Airports Authority of India, is anticipated to drive the demand for laminated glasses, which, in turn, is expected to fuel the PVB market growth.

The governments of countries such as the UK, Vietnam, Spain, Ireland, and Belgium are continuously working on the development of various economies, wherein, the developing economies such as China, India, and Indonesia have more infrastructure requirements. In addition, expanding population in the aforementioned countries is anticipated to boost the construction of residential and non-residential buildings. In order to cater to this demand; the governments of these countries are actively spending on the development of infrastructure.

Growing economic forces, investment in R&D activities, and continuous technological developments are converging opportunities for photovoltaic industry. Key companies manufacturing PVB resins are focusing on the efficiency of thin films, processing innovations, and low-cost processing & manufacturing techniques to increase their production capacities.

Photovoltaic industry uses PVB films as an encapsulation material of double-glazing elements with integrated solar cells, which significantly increases the life of solar panels. Asia Pacific photovoltaic industry is an emerging industry, and it is witnessing a significant growth on account of increase in solar energy generation projects. Key manufacturers are expanding their facilities for PVB resins in developing economies, thereby boosting the consumption of PVB resins in photovoltaic industry.

Application Insights

In 2015, adhesives held around 4.47% of the overall volume share. PVB in adhesives is anticipated to exhibit significant gains on account of their several properties including superior strength and excellent adhesion and binding in various environmental conditions. Moreover, PVB structural adhesives find their application in the aircraft industry for replacement of rivets and other methods of joining and fastening.

PVB sheets & films are largely used for the manufacturing of laminated glasses, which are widely used in the architectural and automotive sectors. These laminated glasses are supported by a PVB interlayer which keeps the glass layers bonded at the time of a collision. PVB’s high strength withstands the impact of the hit and prevents the glass from cracking into sharp pieces.

Global PVB market

Soaring demand for films & sheets in automobile windshields and architectural projects owing to properties such as durability, noise reduction, weather resistance, and high strength is likely to stimulate the growth of the PVB market. Key manufacturers of PVB sheets & films include Everlam, Huakai Plastic Co. Limited, Kingboard Specialty Resins Limited, Tiantai Kanglai Co., Limited, DuLite Co., Limited, and Zhejiang Pulijin Plastic Co., Limited. 

Regional Insights

China is expected to emerge as one of the promising PVB markets in light of favorable government support to promote investments in manufacturing sector. Volkswagen has increased its level of product launches and has announced plans to establish a new automobile production facility by 2018 is projected to fuel the demand for PVB films & sheets in automobiles. Moreover, rapid industrialization along with increasing average size of housing units in the country is projected to propel the product demand over the forecast period.

China is the largest market for photovoltaic energy with 43 GW of installed capacity. Under the 13th Five-Year Plan, the government of China has planned to add 15 to 20 GW of solar capacity every year until 2020. The growth of China photovoltaic industry is anticipated to spur the demand for PVB films & sheets in solar panels, thereby driving the market over the forecast period.

Moreover, China is anticipated to considerably increase its investments in infrastructure projects owing to the expansion of automotive facilities. Major automotive manufacturers are shifting their base to China owing to the availability of economical labor and low operation costs. Furthermore, growth in aging population of China is likely to fuel the demand for an increased number of healthcare facilities, and, in turn, propel the consumption of polyvinyl butyral in the near future.

Polyvinyl Butyral Market Share Insights

Companies in the market are focusing on product, capacity expansion, capital expansion, and substantial investment decisions to consolidate their position in the arena. Booming manufacturing sector along with rising demand for paints and coatings, adhesives, architectural and automotive applications is anticipated to unfold ample growth opportunities for market players.

A majority of companies are developing products that scale to suit the needs of the architectural and automotive industries. Besides this, a raft of PVB manufacturing companies is expected to keep their business units in vicinity to regions where applications growth in photovoltaic, automotive, and construction.

Some of the key companies in the industry are Eastman Chemical Co., Chang Chun Company Limited, Sekisui Chemical Company Limited, Kuraray Co., Limited, Huakai Plastic Co., Ltd., Kingboard Specialty Resins Limited, Tiantai Kanglai Co., Limited, Everlam, Dulite Co., Limited, and Qingdao Haocheng Co., Ltd.

  • Polyvinyl Butyral Application Outlook (Volume, Tons; Revenue, USD Thousand, 2013 - 2024)

    • Films & Sheets

    • Paints & Coatings

    • Adhesives

    • Others

  • Polyvinyl Butyral Regional Outlook (Volume, Tons; Revenue, USD Thousand, 2013 - 2024)

    • North America

      • The U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • U.K.

      • France

      • Italy

      • Russia

      • Poland

      • Turkey

    • Asia Pacific

      • China

      • Japan

      • Taiwan

      • South Korea

      • India

      • Vietnam

      • Indonesia

    • Latin America

      • Brazil

      • Chile

      • Argentina

    • Middle East & Africa

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