Polyvinyl Butyral Market Size Worth $5.51 Billion By 2030

Polyvinyl Butyral Market Growth & Trends

The global polyvinyl butyral market size is expected to reach USD 5.51 billion by 2030, registering a CAGR of 6.3% during the forecast period, according to a new report by Grand View Research, Inc. The Polyvinyl butyral market is expected to witness significant growth during the forecast period owing to its increasing applications in various end-use industries including automotive, construction, and photovoltaic.

Properties such as good adhesion, high durability & safety, and excellent recyclability, coupled with its ability to reduce noise and UV radiation, are expected to boost the product demand. Moreover, the easy manufacturing process of PVB is likely to increase its demand during r the forecast period. The abundant availability of PVB in various sizes and shapes is expected to augment its demand in the near future.

The increasing number of off-grid solar projects, as well as residential and commercial buildings, in the Asia Pacific and Central & South America, is expected to propel the demand for laminated and safety glasses. The growing use of PVB in solar panels is anticipated to open new market avenues during the forecast period. In addition, its high application in the construction industry owing to resistance against UV and harsh weather is expected to drive market growth.

Major manufacturers are adopting strategies for their market expansion such as production facility expansions, new product development, mergers & acquisitions, and joint ventures. For instance, in June 2022, Avient Corporation announced two new grades in its REC thermoplastic elastomer portfolio. These grades are formed from the recycled polyvinyl butyral from the automotive glass by Shark Solutions.

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Polyvinyl Butyral Market Report Highlights

• Asia Pacific polyvinyl butyral market was valued at USD 1.08billion in 2021 and is estimated to grow at a CAGR of 7.0% from 2022 to 2030. The growth of the construction industry in the emerging economies of Asia Pacific and increased infrastructure spending in the current fiscal budget by the governments of India and China are key factors likely to contribute to the growth of the PVB market during the forecast period

• Films & Sheet accounted for more than 74.0% share of the market revenue in 2021, of the global polyvinyl butyral market. PVB films & sheets are widely used as an interlayer in the manufacturing of laminated glasses, used in the automotive and architectural sectors. Growing demand for the films & sheets in automobile windshields and architectural projects, on account of their beneficial properties such as noise reduction, durability, weather resistance, and high strength, are expected to stimulate the market growth

• Automotive segment accounted for more than 50.0% market share of the polyvinyl butyral market, in 2021 and is estimated to continue its dominance throughout the forecast period. Growing demand for the films & sheets in automobile windshields and architectural projects, on account of their beneficial properties such as noise reduction, durability, weather resistance, and high strength are expected to accelerate the market growth

• Paints & Coating accounted for more than 10.0% share of the market revenue in 2021. PVB-based paints & coatings are used mainly in industrial sector as they offer superior gloss and treat rapidly on steel, iron, zinc, aluminum, and other light metals. PVB resins are used in wash primers as they offer several means of preventing corrosion.

Polyvinyl Butyral Market Segmentation

Grand View Research has segmented the global polyvinyl butyral market report based on the application, end-use, and region:

Application Outlook (Volume, Kilotons; Revenue, USD Million, 2019 - 2030)

• Films & Sheet

• Paints & Coating

• Adhesive & Sealants

• Printing Inks

• Others

End-Use Outlook (Volume, Kilotons; Revenue, USD Million, 2019 - 2030)

• Automotive

• Building & Construction

• Electrical & Electronics

• Others

Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2019 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • U.K.

  • France

  • Spain

  • Italy

• Asia Pacific

  • China

  • India

  • Japan

  • South Korea

• Central & South America

  • Brazil

  • Argentina

• Middle East & Africa

  • GCC Countries

  • South Africa

Some of the major companies in the global Polyvinyl Butyral Market include

• Eastman Chemical Company

• Chang Chun Petrochemical Co., Ltd.

• Sekisui Chemicals Co., Ltd.

• Kuraray Co., Ltd.

• Huakai Plastic Co., Ltd.

• King board (Fogang) Specialty Resins Limited

• Everlam

• Tiantai Kanglai Industrial Co., Ltd.

• Dulite Co., Limited

• Guangzhou Aojisi New Material Co., Ltd.

• Qingdao Haocheng Industrial Co., Ltd

• Jiangxi RongXin New Materials Co., Ltd.

• HuzhouXinfu New Materials Co., Ltd.

• Zhejiang Pulijin Plastic Co., Ltd.

• Genau Manufacturing Company LLP