PVB Resin Market I Analysis I Growth Projections I Competitive Analysis
This report, from Stratview Research, studies the PVB resin market over the trend period of 2012 to 2017 and forecast period of 2018 to 2023. 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 Global PVB Resin Market Growth and Forecast:
Polyvinyl butyral (PVB) 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 a 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 reduce noise. PVB resin also finds applications in solar panel encapsulants but its relatively a small market at a present scenario.
The global PVB resin market is projected to grow at an impressive CAGR of 4.5% during the period of 2018 to 2023. This represents an attractive growth opportunity in the entire ecosystem of the market. Organic growth in the automotive and construction industries; an increasing demand for energy-saving buildings, growing disposable income in emerging economies, and growing concern towards global warming are proliferating the growth of the PVB resin market.
PVB Resin Market: by Product Type
The PVB resin market is segmented based on the product type as Films & Sheets, Paints & Coatings, Adhesives, and Others. The films & sheets segment is expected to remain the growth engine of the PVB resin market during the forecast period of 2018 to 2023. An 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.
PVB Resin Market: by End-Use Industry
Based on the end-use industry, the PVB resin market is segmented as Automotive, Construction, Photovoltaic, and Others. The automotive segment is expected to remain the most dominant segment of the PVB resin market during the forecast period. An extensive usage of PVB films & sheets in the automotive industry to increase safety and to 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. It is estimated that approximately 608.5 million units of automobiles (passenger cars, LCVs, and MHCVs) are likely to be produced worldwide during the next five years (2018-2023).
PVB Resin Market: by Region
Based on the regions, Asia-Pacific is expected to remain the largest PVB resin market during the forecast period of 2018 to 2023. The region is also likely to experience a 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 PVB resin market. Out of the total vehicles produced worldwide during 2018-2023, approximately 54.2% will be produced in Asia-Pacific only, mainly in China, Japan, South Korea, India, and Thailand.
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 increasing usage of laminated safety glasses in the architectural industry in the region.
PVB Resin Market: Key Players and Major Strategies
The supply chain of this market comprises of 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, and 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.
This report offers high-quality insights and is the outcome of 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. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. About 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts have been executed to obtain both qualitative and quantitative insights.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
The global PVB resin market is segmented into the following categories.
Global PVB Resin Market, by Product Type
Global PVB Resin Market, by End-Use Industry Type
Global PVB Resin Market, By Region
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