Polyvinyl Butyral Market Size is expected to reach at USD 5.3 Billion by 2030, registering a CAGR of 6.1%, Owing to Growth in Construction Activities

BEIJING, Nov. 24, 2022 (GLOBE NEWSWIRE) -- The Global Polyvinyl Butyral Market Size accounted for USD 3.1 Billion in 2021 and is projected to occupy a market size of USD 5.3 Billion by 2030 growing at a CAGR of 6.1% from 2022 to 2030.

Polyvinyl Butyral Market Statistics

• Global polyvinyl butyral market revenue was worth USD 3.1 billion in 2021, with a 6.1% CAGR from 2022 to 2030

• Asia-Pacific region was accounted 33.9% of polyvinyl butyral market share in 2021

• North America polyvinyl butyral market growth is expected to expand at a CAGR of 6.8% from 2022 to 2030

• By application, films and sheets segment capture over 70% of total market share in 2021

• Increasing adoption in photovoltaic industry, drives the polyvinyl butyral market value

Polyvinyl Butyral Market Report Coverage:

Polyvinyl Butyral Market Overview

Polyvinyl butyral (PVB) is a polymer that is mostly used in automotive and building industries due to its many features such as optical clarity, solid authority, superb adhesion, adaptability, as well as strength. The expansion of product demands in end-use organizations is driving market development. PVB is widely utilized in the earthenware production business due to various features such as wear resistance, heat resistance, hardness, concoction security, weakness, and oxidation resistance. The demand for PVB in the ceramics industry is expected to grow rapidly in the next years, owing to its increasing use in automotive and infrastructure.

Polyvinyl Butyral Market Trends

One of the primary patterns driving the polyvinyl butyral (PVB) market growth is the increasing use of laminated glasses in domestic and non-residential buildings due to their few qualities such as durability, UV radiation management, sound reduction, and weather resistance. The high accessibility of PVB in many sizes and shapes is poised to boost its attention in the near future. In any case, price variations in raw materials such as polyvinyl liquor & butyraldehyde are expected to have a detrimental impact on the polyvinyl butyral (PVB) market value. For instance, in April 2015, Sekisui Specialty Chemicals, one of the leading polyvinyl liquor makers, announced a USD 100 increase in the price of polyvinyl liquor per metric tonne.

PVB is primarily used as a glass intermediary in specific end-use sectors, such as construction and automotive. These enterprises combine two boards of glass with limited glass as a defensive interlayer. PVB films and sheets have a variety of qualities, including excellent transparency, strong impact resistance, exceptional flexibility, and high elasticity. The need for PVB films and sheets is expected to rise in the next years due to their usage in sunlight-based functionality such as ground transportation, solar energy, and building and development. Furthermore, the growing demand for photovoltaic panels in Japan and China is expected to expand the product's use in the solar electricity market.

Polyvinyl Butyral Market Segmentation                

The global polyvinyl butyral market has been segmented by Acumen Research and Consulting based on application, and end-use industry. By type, the segment is separated into films & sheets, printing inks, adhesives & sealants, paints & coatings, and others. According to the polyvinyl butyral market forecast, the films & sheets category is predicted to develop significantly in the next years.

Moreover, the market is split into automotive, electrical & electronics, building & construction, and others, based on the end-use industry. The increased use of renewable energy sources is predicted to expand the use of PVB in the electrical and electronics industries.

Polyvinyl Butyral Market Regional Overview        

Based on the region, the worldwide polyvinyl butyral market segmentation is into Asia Pacific, Europe, North America, Middle East and Africa, and Latin America. According to a polyvinyl butyral industry report, the Asia-Pacific region is predicted to grow significantly in the coming years. Expanding the use of PVB in applications such as packaging is one of the key growth drivers in the Asia-Pacific market. Furthermore, increasing the use of laminated glasses and glues in pharmaceutical packaging to combat contaminations that keep up well-being and security standards is thought to work for the area market. The Asia-Pacific market's notable growth can be attributed to the region's dynamic manufacturing hub and developments in R&D. The use of spectroscopic methods for transporting, refining, and distributing oil and gas in the region is increasing the use of spectroscopic gadgets and equipment.

Besides that, automotive companies are expressing a strong desire to invest in Latin America, which is expected to stimulate the PVB market share. The growth of development organizations in Peru and Chile as a result of rapid monetary advancement is expected to create development opportunities for the local market in the coming years.

Polyvinyl Butyral Market Players

Some of the prominent polyvinyl butyral market companies are Qingdao Haocheng Co., Ltd., Dulite Co., Limited, Everlam, Tiantai Kanglai Co., King board Specialty Resins Limited, Eastman Chemical Co., Chang Chun Company Limited, Sekisui Chemical Company Limited, Kuraray Co., Limited, and Huakai Plastic Co., Ltd.