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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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.
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.
Detailed Regional Analysis:
The Polyvinyl Butyral Market comprises of the five regions of Europe, Latin America, Asia Pacific, North America, and the Middle East & Africa. Among these regions, the Asia Pacific region is projected to develop at a maximum CAGR through the review period due to growing industries. The demand for PVB is anticipated to grow in several countries of the Middle East & Africa owing to the escalated consumption rate in the construction industry. Furthermore, the shift in economic power globally has positioned the Middle East at the center of several of the world’s fastest-growing markets. Dubai, in particular, has leveraged that position to reinvent itself into a global hub for aviation, tourism, and logistics, which is expected to raise the consumption of PVB to use as an anti-corrosive primer for the steel. The North American region is predicted to witness an excellent growth rate on account of high consumption potential, growing production capacities, and increasing economic growth rate. In Europe, the demand for PVB is forecasted to develop in some countries such as Germany, Italy, Spain, France, the U.K, and Russia owing to an increased spending in innovation and rising purchasing power of consumers. Moreover, the existence of major automobile manufacturers, specifically, in Germany is anticipated to give an added impetus to the market’s growth. Latin American countries such as Argentina, Colombia, and Brazil are expected to observe considerable growth due to escalating consumer spending on passenger cars as well as the incorporation of new technologies and inventions in Polyvinyl Butyral. The Asia Pacific PVB market is anticipated to grow at a reasonable CAGR due to the emerging crude oil processing and expanding petroleum refineries in China and India. Furthermore, continual development of solar energy production capacities in several economies of the Asia Pacific such as India, Malaysia, China, Thailand, and Japan are estimated to increase the demand for laminated solar glass panels, which, in turn, is projected to drive the demand for PVB over the forecast period.
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