Polyvinyl Butyral Resin Market Growth Analysis | 2023-2028

Market Insights

The polyvinyl butyral resin market was estimated at USD 3.53 billion in 2022 and is projected to grow at an impressive CAGR of 6.35% during 2023-2028 to reach USD 5.13 billion in 2028.

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What are polyvinyl butyral resins?

Polyvinyl butyral resins are used in applications where strong binding, optical clarity, adhesion to surfaces, toughness, and flexibility are required. The major route of manufacturing PVB resin is a reaction between polyvinyl alcohol and butyraldehyde. Over the years, PVB resins have been widely used in automotive applications as an interlayer in the windshield. They are now increasingly used in luxury cars to make side and roof glass with the purpose to increase safety and reduce noise and light transfer. Furthermore, they are also used in architectural applications for window covering with the purpose to promote energy saving and reducing noise. PVB resin also finds applications in solar panel encapsulants but it’s relatively a small market in the present scenario.

Market Dynamics

The major factors driving the growth of the polyvinyl butyral resin market are-

• Organic growth in the automotive and construction industries.
• Increasing demand for energy-saving buildings.
• Growing disposable income in emerging economies
• Growing concern about global warming.

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Segment Analysis

By Product Type

The market is segmented based on product type as Films & Sheets, Paints & Coatings, Adhesives, and Others. The films & sheets segment is expected to remain the growth engine of the market during the forecast period. Increased usage of PVB films & sheets in industries, such as automotive, construction, and photovoltaic for energy saving and noise reduction are the major factors that are proliferating the demand for PVB films & sheets.

By End-Use Industry Type

Based on the end-use industry, the market is segmented as Automotive, Construction, Photovoltaic, and Others. The automotive segment is expected to remain the most dominant segment of the market during the forecast period. The extensive usage of PVB films & sheets in the automotive industry to increase safety and reduce noise and light transfer is primarily driving the demand for PVB resins in the automotive industry. Additionally, increasing automobile production is likely to boost the demand for PVB films and sheets in the coming years.

Regional Insights

Based on the regions, Asia-Pacific is expected to remain the largest market during the forecast period. The region is also likely to experience healthy growth during the same period. Rapidly expanding automotive and construction industries in the developing economies of the region, such as China and India, is the major driving factor behind the dominance of the Asia-Pacific region in the market.

Europe is projected to remain the second-largest market during the forecast period, driven by both automotive as well as construction industries. There has been an increased usage of laminated safety glasses in the architectural industry in the region.

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Market Segmentation 

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The market is segmented in the following ways:

By Product Type

• Films & Sheets
• Paints & Coatings
• Adhesives
• Others

By End-Use Industry

• Automotive
• Construction
• Photovoltaic
• Others

By Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, The UK, Italy, Spain, and the Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, Korea, and the Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Brazil, Argentina, and Others)

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Key Players

The supply chain of this market comprises raw material suppliers, PVB resin manufacturers, PVB films & sheets manufacturers, PVB adhesive manufacturers, PVB paints & coatings manufacturers, distributors, and end users.

The key manufacturers of PVB resins are-

• Eastman Chemical
• Kuraray
• Sekisui
• Huakai Plastic (Chongqing) Co. Ltd.
• Chang Chun Petrochemicals Co., Ltd.
• Kingboard (Fo Gang) Specialty Resins Limited
• Everlam

Capacity expansion, forward integration, and formation of strategic alliances are the key strategies adopted by the major players to gain a competitive edge in the market.

Most of the major PVB resin manufacturers are also forward integrated and manufacturing PVB sheets & films to serve a large number of customers located across the world Eastman Chemical, Kuraray, and Sekisui are the major player capturing more than 55% of the total PVB resin capacity. There are a large number of Chinese players actively producing PVB resins as well as PVB sheets & films to serve the local market.

Research Methodology

For calculating the market size, our analysts follow either Top-Bottom or Bottom-Top approach or both, depending upon the complexity or availability of the data points. Our reports offer high-quality insights and are the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

We leverage a multitude of authenticated secondary sources, such as company annual reports, government sources, trade associations, journals, investor presentations, white papers, and articles to gather the data.

More than 10 detailed primary interviews with the market players across the value chain in all four regions and industry experts are usually executed to obtain both qualitative and quantitative insights.

Report Features

This report, from Stratview Research, studies the PVB resin market over the trend period of 2017 to 2022 and the forecast period of 2023 to 2028. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

What Deliverables Will You Get in this Report?

Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Regional Segmentation

• Current market size (2022) of the polyvinyl butyral resin market in any of the North American countries by product type

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.