Polyvinyl Butyral Market

Polyvinyl Butyral Market Outlook (2024 to 2034)

The polyvinyl butyral market is valued at USD 4.30 billion in 2024 and is projected to reach USD 8.40 billion by 2034, exhibiting a modest CAGR of 6.90% over the forecast period.

Attributes	Key Statistics
Expected Base Year Value (2024)	USD 4.30 billion
Anticipated Forecast Value (2034)	USD 8.40 billion
Estimated Growth (2024 to 2034)	6.90% CAGR

Key Market Insights

The polyvinyl butyral market generated an estimated revenue of USD 2.9 billion in 2019. In the span of four years, the market developed at an 8.40% CAGR and added revenue of USD 1.10 billion. Several reasons can be attributed to this growth:

• Increasing demand for laminated safety glass in automotive and architectural applications, with PVB interlayers providing impact resistance and improved structural integrity
• Growing usage of polyvinyl butyral in photovoltaic modules for solar energy generation due to the need for durable and weather-resistant encapsulation materials
• Rising awareness regarding the benefits of polyvinyl butyral in enhancing safety and security features in buildings
• Advancements in PVB technology, such as improvements in optical clarity, adhesion strength, and resistance to yellowing,
• Expansion of the electronics industry in countries like China, India, and South Korea, particularly in encapsulation applications
• Growing investment in renewable energy projects, especially in solar energy where polyvinyl butyral is highly used.

Consumption Analysis of Polyvinyl Butyral

• The global automotive sector is increasingly adopting polyvinyl butyral for laminated safety glass installed in windshields and side windows to enhance safety by preventing shattering upon impact.
• The sales of polyvinyl butyral are also growing among companies involved in the construction sector. These companies use PVB to manufacture energy-efficient and soundproof windows.
• Polyvinyl butyral is experiencing increasing demand from electronic component manufacturers, particularly in producing solar cells and electronic components, as it helps protect sensitive electronic parts from environmental factors such as moisture, dust, and mechanical stress.
• Businesses involved in the photovoltaic industry extensively use PVB for encapsulating solar panels. This helps protect solar cells from external factors, such as moisture and UV radiation.
• The growing adoption of polyvinyl butyral, which incorporates safety and security features into building designs, is also observed in architectural firms.
• The sales of polyvinyl butyral are skyrocketing among companies specializing in safety glass production to manufacture laminated glass products, which are then supplied to various industries, including automotive, construction, and electronics.

Restraining Factors Adversely Affecting the Polyvinyl Butyral Market

While the market is expected to experience remarkable growth, several restraining factors can adversely affect its development. These include:

• Increasing environmental regulations and consumer demand for sustainable products can require PVB manufacturers to invest in eco-friendly production processes. This can push various companies out of the market.
• Growing competition from alternative materials with similar properties, such as ethylene vinyl acetate (EVA) and thermoplastic polyurethane (TPU) can also divert the potential consumer base, contributing to the declining growth rate of this market.
• The rise in the raw materials used in PVB production, such as vinyl alcohol and butyraldehyde, can also increase the overall manufacturing cost, further slowing down the market.

Category-wise Insights

PVB Films and Sheet Sales to Touch Skies in the Coming Future

Attributes	Details
Application	Films and Sheets
CAGR	6.70%

Based on the application, the polyvinyl butyral market is segmented into films and sheets, paint and coatings, adhesives and sealants, printing inks, etc. The films and sheet segment is anticipated to thrive at a CAGR of 6.70%.

• The demand for polyvinyl butyral films and sheets is skyrocketing due to the automotive industry's growing focus on safety features, including laminated glass for windshields and side windows.
• The expanding renewable energy sector, particularly solar energy, is also expected to fuel the demand for PVB films and sheets as they are used to encapsulate photovoltaic modules.
• Increasing consumer awareness regarding the benefits of PVB films and sheets, such as enhanced safety, sound insulation, and UV protection, is also expected to boost their demand in both residential and commercial applications.

Polyvinyl Butyrate is Highly Preferred in the Global Automotive Sector

Attributes	Details
End-User	Automotive
CAGR	6.50%

Based on end users, the automotive sector dominates the market and is anticipated to develop at a CAGR of 6.50%.

• Companies in the automotive sector are increasingly demanding polyvinyl butyral as it is commonly used as an interlayer in laminated safety glass for windshields and side windows.
• PVB is also in high demand as they help improve the durability of automotive glass by providing resistance against impacts, scratches, and harsh environmental conditions.

Country-wise Insights

The section provides an analysis of the polyvinyl butyral market in Japan, China, the United States, South Korea, and the United Kingdom. The table presents the CAGR for each country, indicating the expected market growth in that country through 2034.

Countries	CAGR
South Korea	9.00%
Japan	8.60%
The United Kingdom	8.10%
China	7.60%
The United States	7.20%

Polyvinyl Butyral Market in Japan

The demand for polyvinyl butyral in Japan is projected to rise at an 8.60% CAGR through 2034.

• Japan has an enormous global automotive manufacturer presence. Demand for polyvinyl butyral in laminated safety glass for vehicles due to strict safety standards by the government is augmenting the market growth.
• Japan is experiencing swift urbanization and infrastructure development. The demand for PVB in manufacturing energy-efficient and safety-enhancing laminated glass for buildings and structures is touching the skies.

Polyvinyl Butyral Market in South Korea

South Korean polyvinyl butyral market is anticipated to progress at a CAGR of 9.00% till 2034.

• Like Japan, South Korea is also home to prominent automobile manufacturers like Hyundai, Kia, etc. As passenger car production increases yearly, the demand for PVB in these companies is likely to surge.
• In the last few decades, the South Korean government has also focused on renewable energy development, particularly in solar power generation. This also fuels the demand for PVB in photovoltaic module encapsulation.

Polyvinyl Butyral Market in the United Kingdom

The polyvinyl butyral market growth in the United Kingdom is anticipated at an 8.10% CAGR till 2034.

• The construction sector in the United Kingdom is flourishing, contrary to the economic uncertainties. This has driven significant demand for PVB in laminated glass for energy-efficient and safety-enhancing windows and facades in commercial and residential buildings.
• The United Kingdom is growing increasingly concerned about its energy consumption and generation. This is boosting the demand for PVB in photovoltaic module encapsulation for solar energy generation as the country aims to increase its renewable energy capacity.

Polyvinyl butyral Market in China

The Chinese polyvinyl butyral market is anticipated to exhibit an annual growth rate of 7.60% till 2034.

• Rapid infrastructure development initiatives by the public and private sectors generate immense demand for polyvinyl butyral in the country. These entities use PVB in laminated glass for buildings, bridges, and transportation infrastructure.
• China is investing billions of dollars to harness the full potential of solar energy as it receives sunlight throughout the year. These initiatives also demand a significant quantity of PVB-based products in the country.

Polyvinyl Butyral Market in the United States

The United States is anticipated to register a CAGR of 8.50% through 2034.

• The United States is home to prominent aerospace companies like Boeing and Airbus. These companies require huge amounts of PVB-based laminated glasses to ensure passenger safety. This has positioned the United States as one of the leading companies in the market.
• Like most countries in this market, the United States’ government promotes renewable energy by providing grants and tax rebates to these companies. This has brought a considerable amount of companies to this sector, driving the growth of PVB films and sheets in the country.

Competitive Landscape

The global market for polyvinyl butyrals is filled with domestic and international players that have a loyal consumer base in various industries and sectors. Some prominent polyvinyl butyral companies in the market are Kuraray Co. Ltd, Eastman, Sekisui., Ltd., Tiantai Kanglai Industrial Co., Ltd., Zhejiang Decent Plastic Co., Ltd.

These companies are investing heavily to tap emerging markets in the developing and underdeveloped parts of the world. Governments in various countries are also actively promoting PVB-based films and sheets to spread awareness of its benefits.

Recent Developments:

• In December 2023, the Nancy and Rich Kinder Building addition to the Museum of Fine Arts Houston (MFAH) in Texas showcased an innovative use of Vanceva™ PVB interlayers, allowing natural light to illuminate the galleries while preserving priceless classical art.
• In October 2023, Cube Berlin's modern, all-glass architecture took shape, reflecting the vibrancy of Berlin's Washingtonplatz. Saflex™ Solar (SG) and Saflex™ Structural (DG) PVB interlayers, chosen by Eastman, ensured structural integrity and effective solar control in collaboration with 3XN Architects and industry experts.
• In July 2023, Eastman unveiled an expanded range of Saflex FlySafe 3D options, offering architects and designers more choices to safeguard birds from glass collisions without compromising aesthetics. The additions included various sequin sizes and color options for building facades, addressing growing concerns about avian safety.
• In August 2021, Avient incorporated reclaimed polyvinyl butyral (PVB) from car windshields and laminated architectural glass into its reSound R thermoplastic elastomers (TPEs), following a collaboration with Shark Solutions. The new TPEs contained 25% post-consumer recycled PVB, catering to general-purpose applications in consumer and automotive industries.

Key Companies in the Polyvinyl Butyral Market

• Kuraray Co. Ltd.
• Eastman Chemical Company
• Sekisui Chemical Co., Ltd.
• DuPont de Nemours, Inc.
• Kingboard Chemical Holdings Ltd.
• Huakai Plastic (Chongqing) Co., Ltd.
• Tiantai Kanglai Industrial Co., Ltd.
• Zhejiang Decent Plastic Co., Ltd.
• Chang Chun Petrochemical Co., Ltd.
• Jiangxi Rongxin New Materials Co., Ltd.
• Zhejiang Pulijin Plastic Co., Ltd.
• Zhejiang Chaofeng Plastic Co., Ltd.
• Qingdao Haocheng Industrial Co., Ltd.
• S-LEC B.V.
• Guangzhou Lihong Chemical Co., Ltd.
• Wenzhou Sanyou Chemical Fiber Co., Ltd.
• GVC Corporation
• KB PVB Co., Ltd.
• Sekisui S-Lec B.V.
• Shanghai Chang Chun Plastics Co., Ltd.

Key Coverage in the Polyvinyl butyral Industry Report

• Industrial Analysis of Polyvinyl Butyral Coatings
• Demand for Polyvinyl Butyral Resins in South Korea
• Applications of Polyvinyl Butyral in Laminated Glass
• Analysis of Polyvinyl Butyral Manufacturers in India
• Insights into the Pricing of Polyvinyl Butyral
• Overview of Polyvinyl Butyral Hydrolysis in Photovoltaic Modules

Polyvinyl butyral Market by Segmentation

By Application:

• Films & Sheet
• Paint & Coating
• Adhesive & Sealants
• Printing Inks
• Others

By End User:

• Automotive
• Building & Construction
• Electrical & Electronics
• Others

By Region:

• North America
• Latin America
• Asia Pacific
• Middle East and Africa (MEA)
• Europe

Frequently Asked Questions

How Much is the Polyvinyl Butyral Market Currently Worth?

The global polyvinyl butyral market is expected to be worth USD 4.30 billion by 2024.

What is the Sales Forecast for Polyvinyl Butyrals through 2034?

The market for polyvinyl butyrals is expected to reach USD 8.40 billion by 2034.

At What Rate is the Polyvinyl Butyral Market Growing?

The polyvinyl butyral market is growing at a CAGR of 6.90% from 2024 to 2034.

Who are the Key Players in the Market for Polyvinyl Butyrals?

Kuraray Co. Ltd, Eastman, Sekisui., Ltd., Tiantai Kanglai Industrial Co., Ltd., and Zhejiang Decent Plastic Co., Ltd., are some of the key players in the market for polyvinyl butyrals.

What was the Global Valuation of the Polyvinyl Butyral Market in 2023?

The global valuation for the polyvinyl butyral market in 2023 was USD 4.0 billion.