Additionally, these products can absorb harmful infrared radiation from the sun, which significantly enhances vehicles protection. Currently, the numbers of cars equipped with safety glass side windows are small owing to its high price. However, shifting consumer preferences towards security features in automobiles, coupled with rising innovations to reduce the product prices, which will make a noteworthy contribution to Polyvinyl Butyral Market size during the entire projected period.
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Polyvinyl butyral (PVB) is a specialty resin that is used primarily as a raw material for laminated safety glass sheet in automotive and architectural applications. Out of these two applications, automotive accounts for 60% and architectural comprises 33% on the total consumption. Polyvinyl butyral consumption is faster in automotive because of the applications such as laminated safety glass for windshield, which increases safety and caters noise reduction and light transfer. In architectural applications, polyvinyl butyral lamination is provided in order to attain regulations and also to promote noise reduction and energy saving. Polyvinyl butyral also has application as encapsulation in solar panels, though this accounts for very small consumption of global production. Polyvinyl butyral products possess superior properties, which includes high strength, better security, impact resistance ability, toughness and high clearness that makes it highly preferable in the transportation industry.
Polyvinyl butyral market is primarily driven by automotive industry, which has substantial impact on Asia Pacific and Europe region over the forecast period. This increasing adoption of polyvinyl butyral in automotive industry is attributed to manufacturing laminated glass, such as soundproof glasses and windshield glasses. Furthermore, the product is also utilized in automotive windows to improve the overall safety and reduce external noise.
Global market for polyvinyl butyral market can be segmented by application and by region. On the basis of application, global market for polyvinyl butyral market is segmented by films & sheets, paints & coatings and adhesives. The rapid growth in the construction sector has a significant effect on the polyvinyl butyral, owing to the rising demand for efficient and effective material for various end-use application. On the other hand, with advancement in the industrial automation industry, applications from polyvinyl butyral is anticipated to gain traction in the coming years.
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Rising consumption of polyvinyl butyral from building & construction industry primarily in Asia Pacific, Europe, Latin America and the Middle East & Africa will help attain favorable gains to polyvinyl butyral market size during the forecast period.
For instance, the construction industry in the region is estimated to grow at a CAGR close to 6% during the forecast period. The product is widely used in commercial & industrial balustrades, overhead glazing, facades, floors & stairs and others owing to its value added features including reducing sound transmission, improving aesthetic value and reduction of UV rays’ transmission. Cumulative product adoption in airport terminals, government offices, shopping malls, stadiums, defense offices and museums will fuel up the product demand, which will additionally help in attaining substantial additions to polyvinyl butyral market size over the next few years. Availability of product alternatives in the market, such as polyvinyl alcohol, is likely to hinder the overall polyvinyl butyral market size during the forecast period.
Prominent players in the global polyvinyl butyral market are Kuraray Co., Ltd., Eastman Chemical Company and Sekisui Chemical Co., Ltd. Other players operating in the polyvinyl butyral market are Kingboard (Fo Gang) Specialty Resins Co Ltd, Huakai Plastic, Zhejiang Bisheng Plastics Co., Ltd. and Chang Chun Petrochemicals Co., Ltd., among others. The global players are expected to strengthen their market positions by offering loyalty schemes and competitive prices. Several small-sized players also have a presence in the polyvinyl butyral market globally.
The global market for polyvinyl butyral is fragmented in nature owing to the presence of large number of players in the market. The global polyvinyl butyral market has lucrative opportunities for new entrants, which will cater to competitiveness in the product offerings and also lead to reduction in prices of the products.
The research report presents a comprehensive assessment of the polyvinyl butyral market and contains thoughtful insights, facts and historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The Polyvinyl butyral market report provides analysis and information, according to market segments such as geographies, application and industry.
The Polyvinyl butyral report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The Polyvinyl butyral report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The Polyvinyl butyral report also maps the qualitative impact of various market factors on market segments and geographies.
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