Global Polyvinyl Butyral (PVB) Market to Reach around USD 3.9 Billion by 2021
Deerfield Beach, FL -- (SBWIRE) -- 09/19/2017 -- Zion Market Research has published a new report titled "Polyvinyl Butyral (PVB) Market For Films & Sheets, Paints & Coatings, Adhesives and Other Applications In Automotive, Construction and Photovoltaic: Global Industry Perspective, Comprehensive Analysis and Forecast, 2015 – 2021" According to the report, the global polyvinyl butyral market was valued at approximately USD 3.0 billion in 2015 and is expected to reach approximately USD 3.9 billion by 2021, growing at a CAGR of around 5.4% between 2016 and 2021.
Polyvinyl butyral (PVB) is a resin which is produced by polyvinyl alcohol by reacting with butyraldehyde. Polyvinyl butyral is a non-toxic and non-corrosive product. PVB possesses excellent tensile strength, adhesiveness, elasticity etc. PVB also offers combination properties of light-proofness and aging resistance, etc. PVB is mainly used as an interlayer material for laminated glass to reduce the hazard from shattered glass fragments owing to its excellent ductility and adhesive property with glass.
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Polyvinyl butyral market is primarily driven by increasing population, economies development coupled with industrial growth. Polyvinyl butyral market is expected to exhibit strong growth on account of its extensive usage in varnishes, paints & coatings, sheets, glass, films, adhesives, printing & inks. However, availability of specific application related substitutes such as eva film may hamper the market growth in the years to come. Nonetheless, increasing demand of polyvinyl butyral in photovoltaic solar cells coupled with high investment initiatives in the emerging economies mainly China, Japan, India, and Indonesia is expected to open up new growth avenues in the near future.
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Based on application, polyvinyl butyral market can be segmented into films & sheets, paints & coatings, adhesives and others. Films & sheets segment was leading segment in the market followed by paints & coatings in terms of revenue in 2015. This growth is mainly attributed to increasing use of PVB sheets in automotive applications across the globe. Paints & coatings is another key outlet of polyvinyl butyral market and are expected to show significant growth in the near future.
The polyvinyl butyral market is segmented on the basis of different end-user such as automotive, construction and photovoltaic. The automotive segment accounted for a major chunk of the market share in 2015. This growth is mainly attributed to increasing usage of PVB in laminated safety glass for automobile windshields. Construction was another leading segment in the polyvinyl butyral market in 2015. Furthermore, photovoltaic is an important segment of polyvinyl butyral market and is expected to show substantial growth within the forecast period.
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The polyvinyl butyral market was dominated by Asia Pacific accounting for the largest share of the global market in 2015. Asia Pacific was followed by North America in terms of revenue. China emerged as the largest PVB consumer in the Asia Pacific owing to the growing infrastructural development in the country. Rising industrialization and expansion of manufacturing units in emerging countries of China, India and Japan is expected to fuel the demand for PVB further. Furthermore, North America is expected to be the fastest growing market over the years. The U.S. dominated the polyvinyl butyral market holding the largest market share in North American PVB market in 2015. The Middle East & Africa and Latin America are expected to show moderate growth in the years to come.
The polyvinyl butyral market is highly consolidated in nature dominated by major players such as DuPont, Kuraray, Eastman Chemical Company and Sekisui Chemical. Other key participants in PVB market include Lifeng Group, Specialty Resins Co LTD (Hongkong), Chang Chun Petrochemicals Co., Ltd., Zhejiang Bisheng Plastics Co., Ltd. Kuraray Co., Ltd., Sekisui Chemicals Co., Ltd., Guangzhou Aojisi New Material Co., Ltd. and Huzhou Xinfu New Material.
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