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Polyvinyl Butyral Market Report
Polyvinyl Butyral (PVB) Resin Market Size, Share, Trend, Forecast, & Competitive Analysis: 2018-2023
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.
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.
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).
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.
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Research Scope |
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|---|---|
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Trend & Forecast Period |
2012-2023 |
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Regions Covered |
North America, Europe, Asia-Pacific, Rest of the World |
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Forecast |
4.5% CAGR during 2018-2023 |
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Countries/Subregions Covered |
The USA, Canada, Mexico, Germany, France, The UK, Italy, Spain, China, Japan, India, Korea, Brazil, Argentina and Others |
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Figures & Tables |
>150 |
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Customization |
Up to 10% customization available free of cost |
The market is segmented in the following ways:
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-
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.
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 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 multitude of authenticated secondary sources, such as company annual reports, government sources, trade associations, journals, investor presentation, 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.
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 following are the key features of the report:
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Regional Segmentation
Competitive Benchmarking
Custom Research: Stratview research offers custom research services across the 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 at [email protected].
Driven by the factors like organic growth in the automotive and construction industries, the polyvinyl butyral resin market is expected to witness an impressive growth of 4.5% CAGR during the forecast period of 2018 to 2023.
Eastman Chemical, Kuraray, Sekisui, Huakai Plastic (Chongqing) Co. Ltd., Chang Chun Petrochemicals Co., Ltd., Kingboard (Fo Gang) Specialty Resins Limited, and Everlam are among the key players in the polyvinyl butyral resin market.
Asia-Pacific is expected to remain the largest polyvinyl butyral resin market during the forecast period of 2018 to 2023.
The films & sheets segment is expected to remain the growth engine of the PVB resin market in the coming years.
The automotive segment is expected to remain the dominant segment in the polyvinyl butyral resin market during the next five years.
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