DUBLIN--(BUSINESS WIRE)--The "Global Polyvinyl Butyral (PVB) Market by Application (Films & Sheets, Paints & Coatings, Adhesives), End-use (Automotive, Construction, Electrical & Electronics) and Region (North America, Asia Pacific, Europe, South America, Middle East & Africa) - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global polyvinyl butyral (PVB) market is projected to grow from USD 3.7 billion in 2022 to USD 5.1 billion by 2027, at a CAGR of 6.5% between 2022 and 2027.
PVB are witnessing increased adoption in vehicles sunroof, aircraft windows for noise suppression, and interlayers in glass for enhanced safety. PVB films & sheets applications in construction industry are driven by the growth in residential housing, favorable demographics, and rising affordability which support the growth of PVB market during the forecast period. PVB films are also used in photovoltaic industry as the encapsulation material which enhance the life span of solar panels. However, availability of substitute materials such as ethylene-vinyl acetate (EVA) restricts the growth of the PVB market.
In terms of value, adhesives is the third fastest-growing segment in PVB market, by application, during the forecast period
PVB adhesives have strong adhesion characteristics and suitable for bonding metal, glass, leather, wood, and paper. PVB resins are used to develop variety of adhesives such as PCB and hot-melt adhesives. PCB adhesives possesses high strength and resistance ideal for electrical applications. PVB adhesives have high tensile strength due to which it is used to bind glass splinters and panels in various end-use industries.
In terms of value, construction is estimated to be second fastest-growing segment in PVB market, by end-use industry, during the forecast period
The growth of polyvinyl butyral (PVB) market is mainly contributed to the rapid developments in the construction industry. PVB laminating glass is utilized in commercial shops, government buildings, and banks for safety &security. PVB films have consumption in residential construction for protection of indoor furniture and plastic products from ultraviolet radiation and fading. Additionally, consumption of low thickness PVB sheets such as 0.38 millimeters, 0.76 millimeters, and 1.04 millimeters in architectural applications will boost the growth of the market.
Europe region accounted for the second-largest share in the PVB market by value
The region has stringent regulations to achieve energy efficiency in construction projects. Safety standards such as use of laminated glass in cars, LCVs, trucks, and buses and established automotive industry supports the growth of the market. Focus on clean energy generation by using renewable sources of energy such as solar power produced by photovoltaics is also expected to propel the demand of PVB in the region.
Europe is considered an automotive hub, owing to the presence of established automobile manufacturers, such as Volkswagen, BMW, and Daimler. Moreover, technological advancements, new reformed policies, and rising investments in the region is expected to increase the consumption of PVB during the forecast period.
Market Dynamics
Drivers
- Growth in End-use Industries Driving Demand in Asia-Pacific
- Large-Scale Demand for PVB Films for Window and Sunroof Application in Automotive Industry
- Growth in Construction Industry
Restraints
- High Recycling Activities of PVB
Opportunities
- Increasing Demand from Photovoltaics Industry
Challenges
- Stringent Environmental Regulations
Companies Mentioned
- Anhui Wanwei Bisheng New Material Co. Ltd.
- Chang Chun Group
- D.R. Coats Ink & Resins Pvt. Ltd.
- Dulite Co. Ltd.
- Eastman Chemical Company
- Guangzhou Aojisi New Material Co. Ltd.
- Hefei TNJ Chemical Industry Co. Ltd.
- Huakai Plastic Co. Ltd.
- Hubergroup
- Huzhou Xinfu New Materials Co. Ltd.
- Jinhe Enterprise Co. Limited
- Kingboard (Fo Gang) Specialty Resins Limited
- Kuraray Co. Ltd.
- Qingdao Haocheng Industrial Company Limited
- Qingdao Jiahua Plastics Co. Ltd.
- Qingdao Jinuo New Materials Co. Ltd.
- Sekisui Chemical Co. Ltd.
- Sinoever International Co. Ltd.
- Siva Chemical Industries
- Synpol Products Private Limited
- Tanyun Junrong (Liaoning) Chemical Research Institute New Materials Incubator Co. Ltd.
- Tiantai Kanglai Industrial Co. Ltd.
- Tridev Resins Pvt. Ltd.
- Uniform Synthetics Private Limited
- Zhejiang Pulijin Plastic Co. Ltd.
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