Market Overview:
Polyvinyl butyral (PVB) has excellent adhesive and film forming properties. It offers strong binding power and excellent optical transparency to end products. Thus, it is used in a wide range of applications that include glass lamination, primers for metals and printing inks.
Some of the prominent factors that positively influence the growth of the polyvinyl butyral market are increasing production of PVB based laminated safety glass for automotive and construction industries, rising demand for solar panels, and increasing urbanization. Increasing urbanization along with rising per capita disposable income in developed and emerging economies are predicted to drive the growth of the market over the forecast period, 2017-2023. High adoption rate along with the increasing number of solar energy power plants to meet the energy for the ever-growing population. Moreover, continuous expansion of the automotive sector, as well as shifting manufacturers, focus towards efficient composite fiber binders are estimated to fuel the growth of the market during the review period. However, growing environmental concern regarding the toxic effect of chemicals used in PVB along with the implementation of strict regulations is predicted to hinder the market growth over the assessment period.
Key Players:
Some of the prominent players operating in the global polyvinyl butyral market are Kuraray Co., Ltd. (Japan), E. I. du Pont de Nemours and Company (U.S.), Eastman Chemical Company (U.S.), Huakai (China), Chang Chun Petrochemicals Co., Ltd. (Taiwan), Kingboard (Fo Gang) Specialty Resins Limited (China), Everlam (Belgium), Dulite PVB Film (Taiwan), Tiantai Kanglai Industrial Co., Ltd. (China), Guangzhou Aojisi New Materials Co., Ltd. (China), Anhui Wanwei Group Co., Ltd. (China), Qingdao Haocheng Industrial Company Limited (China), Huzhou Xinfu New Materials Co., Ltd. (China), Zhejiang Pulijin Plastic Co., Ltd. (China), and Hunan Xiangwei Co., Ltd. (China) among others.
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Regional Analysis:
Asia Pacific is estimated to be the largest PVB market followed by North America and Europe due to the strong existence of ongoing construction projects. In Europe, Germany, Russia, and Spain are predicted to register a strong growth on account of tremendous demand for PVB in laminated safety glass manufacturing. In the Asia Pacific, countries such as China, India, and South Korea are the fastest growing market for PVB and are estimated to grow at the same pace over the forecast period. Improving living standards along with the flourishing growth of solar energy is predicted to contribute to the regional market growth. In North America, the U.S. and Mexico are among the major contributors to the regional market growth due to the expansion of architectural glass manufacturers as well as increasing innovations. In Latin America, Mexico is expected to register a strong growth due to the robust presence of automobile manufacturers.
Segmentation
The global polyvinyl butyral market is categorized on the basis of application, end use industry, and region. On the basis of the application, the market is bifurcated into glass lamination, ceramic binder, composite fiber binder, wash primer, and others. On the basis of the end use industry, the polyvinyl butyral market is categorized into the automobile, solar energy, paint & coatings, and others. On the basis of the region, the market is categorized into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.
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