Global Polyvinyl Butyral (PVB) Resins Market Set for Rapid Growth, to Reach around USD 3.9 Billion by 2021
Deerfield Beach, FL -- (SBWIRE) -- 05/01/2017 -- 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
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" .
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Polyvinyl butyral (PVB) is produced from the condensation reaction of polyvinyl alcohol and butyraldehyde. Polyvinyl butyral is thermoplastic resins which are a non-toxic and non-corrosive product. KBPVB, Saflex, GlasNovations, Butacite, WINLITE, S-Lec, Trosifol and EVERLAM are some of the key tradenames of PVB-films. PVB has excellent adhesive and elasticity properties with many materials such as metal, glass, plastics and wood.
Polyvinyl butyral market is expected to exhibit high gains in light of its extensive usage in varnishes, paints & coatings, sheets, glass, films, adhesives, printing & inks. This is mainly due to its capability to improve their chemical & physical properties including strong binding, more optical clarity, and strong adhesive. Moreover, increasing population, economies development coupled with industrial growth are further anticipated to positively impact polyvinyl butyral market demand in the near future. However, the presence of application specific substitutes such as eva films may curb the market growth in the near future. Nonetheless, increasing usage of polyvinyl butyral in photovoltaic solar cells coupled with high investment initiatives in the emerging economies mainly China, Japan, India, and Indonesia is projected to open up new growth avenues in the years to come.
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The polyvinyl butyral is widely used in various applications such as films & sheets, paints & coatings, adhesives and others. Films & sheets segment was the largest segment in terms of revenue owing to increasing use of PVB sheets in automotive applications across the globe. PVB is widely used in paints and coating applications owing to its strong adhesiveness to metals, and good bond ability to surface coatings. Thus, paints & coatings are expected to show significant growth in the years to come.
Based on end-user, the polyvinyl butyral market can be segmented into automotive, construction and photovoltaic. Automotive was the leading segment in the market and is expected to show strong growth in the near future. This is mainly due to increase usage of PVB in laminated safety glass for automobile windshields. Construction is another leading segment in the polyvinyl butyral market. PVB has gained acceptance among manufacturers of photovoltaic thin film solar modules. Thus, the photovoltaic segment is an important segment of polyvinyl butyral market and is expected to show substantial growth within the forecast period.
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Asia-Pacific was the largest regional market led by China in 2015. Moreover, product innovations, industry consolidations coupled with growing the industrialization and manufacturing units in developing countries is expected to drive the demand for PVB resins in the years to come. North America was another leading segment in the PVB market and is expected to exhibit significant growth in the year to come. The polyvinyl butyral market in Europe is anticipated to witness substantial growth over the years on account of recovery from the economic slowdown.
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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