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.
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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The Global Polyvinyl Butyral (PVB) Market consists of five regions: Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa. Among these, Asia Pacific is predicted to grow at the highest CAGR during the review period, 2017-2023 on account of expanding industries. The demand for PVB is predicted to surge in numerous countries of the Middle East & Africa such as Iraq, the United Arab Emirates, Saudi Arabia, Iran, and Kuwait due to high consumption rate in the construction industry. Moreover, the shift in global economic power has placed the Middle East at the center of many of the world’s fastest-growing markets. Dubai, in particular, has leveraged that position to turn itself into a global hub for aviation, tourism, and logistics, which is expected to increase the consumption of PVB to use as an anti-corrosive primer for the steel.
North American Polyvinyl Butyral Market is predicted to witness a tremendous growth on account of high consumption potential, increasing production capacities, and rising economic growth rate. As of 2016, the U.S accounts for one of the largest global markets and it is estimated to grow at a moderate CAGR on account of growing production of glass for architectural purposes. In Europe, the demand for PVB is predicted to grow in various countries such as Italy, Germany, Spain, the U.K, France, and Russia due to increased expenditure in innovation and growing purchasing power of consumers. Moreover, the presence of major automobile manufacturers, specifically, in Germany is expected to give momentum to the market growth. Latin American countries such as Argentina, Colombia, and Brazil are also predicted to witness a substantial growth owing to increasing consumer spending on passenger cars as well as the involvement of new technologies and inventions in Polyvinyl Butyral. Asia Pacific PVB market is predicted to grow at a moderate CAGR due to developing crude oil processing and expanding petroleum refineries in India and China. Moreover, continuous growth of solar energy production capacities in various economies of Asia Pacific such as China, India, Malaysia, Thailand, and Japan is expected to raise the demand for laminated solar glass panels, which, in turn, is predicted to fuel the demand for PVB over the forecast period.
Synopsis of Polyvinyl Butyral Market:
Polyvinyl Butyral (PVB) compounds are used to make resins. They offer excellent binding efficiency, optical clarity, strong adhesion to a large number of substrates, and toughness combined with flexibility. These properties have major applications in automobile, solar energy, and paint & coatings end-use industries. Additionally, the most important and widely used application of PVB is to laminate glass purposes.
As per our Analysis, some of the prominent market factors and trends identified in the Global PVB Market. Foremost factor is that increasing global demand for energy and the need for more realistic and immediate action to address climate change is forcing governments, business and consumers to consider more holistic solutions that can reduce environmental impact is encouraging solar energy. This is directly impacting the PVB consumption rate in installing solar panels. Rising demand for laminated glass in automobiles, and increasing expenditure on research activities. Moreover, demand for PVB is predicted to witness a significant growth over the assessment period due to surging paint & coatings industry. Rising steel production across the globe is anticipated to be an important driver for the PVB consumption as an anti-corrosive primer during the review period. Increasing automobile production and sales along with rising consumption of PVB in windshield glass lamination is estimated to fuel the growth of the market. Furthermore, rapid urbanization coupled with increasing disposable income in emerging economies is predicted to propel the growth of the market during the assessment period 2017-2023. However, implementation of strict regulations by various government bodies has restricted the use of toxic organic chemicals in the production of Polyvinyl Butyral, which is expected to hamper the growth of the market.
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