The polyvinyl butyral (PVB) market, valued at approximately USD 4.30 billion in 2024, is projected to grow to USD 8.40 billion by 2034, reflecting a steady CAGR of 6.90% over the forecast period. This growth is primarily driven by rising demand in the automotive and construction sectors, where PVB is extensively used in laminated safety glass, providing impact resistance, durability, and optical clarity. Additionally, increasing emphasis on renewable energy has spurred PVB demand in photovoltaic applications, as it serves as an encapsulant material, enhancing solar panel efficiency. The market’s expansion is further supported by advancements in PVB recycling technology, promoting sustainability and cost-effectiveness in production, while ongoing innovation in product formulations opens up new avenues across emerging industrial applications.
The significance of polyvinyl butyral (PVB) has substantially increased in various industries in the last few years. The global automotive sector, for instance, is adopting PVB for laminated safety glass, which provides enhanced safety by preventing shattering upon impact. The demand for laminated safety glass is also rapidly increasing in architectural applications, with PVB interlayers providing impact resistance and improved structural integrity.
Advancements in PVB technology, such as improvements in optical clarity, adhesion strength, and resistance to yellowing, are leading to PVB market expansion. PVB is also used extensively in the renewable energy sector, especially in solar energy, which encapsulates solar panels. This helps protect solar cells from external factors, such as moisture and UV radiation.
Businesses involved in the photovoltaic industry are extensively using PVB for encapsulating solar panels due to the need for durable and weather-resistant encapsulation materials. The sales of PVB are also touching the skies among companies specializing in safety glass production. Besides this, the expansion of the electronics industry in countries like China, India, and South Korea, particularly in encapsulation applications, is further driving the sales of PVB-based components.
Competitive Landscape
- The global market for polyvinyl butyrals is highly competitive and comprises domestic and international players catering to various industries and sectors.
- Prominent companies in the market include Kuraray Co. Ltd, Eastman, Sekisui., Ltd., Tiantai Kanglai Industrial Co., Ltd., Zhejiang Decent Plastic Co., Ltd.
- Companies in the market are investing heavily to tap emerging markets in the developing and underdeveloped parts of the world, and governments are promoting the use of PVB-based films and sheets to spread awareness about its benefits.
- The demand for PVB-based films and sheets is increasing due to its excellent optical properties and safety features, and it is being widely used in the construction, automotive, and solar industries.
Recent Developments:
- In July 2023, Eastman expanded its Saflex FlySafe 3D range, introducing various sequin sizes and color choices for building facades to address rising concerns about aviation safety.
- Avient made strides in sustainable materials with its reSound R thermoplastic elastomers (TPEs) in August 2021, incorporating reclaimed polyvinyl butyral (PVB) from car windshields and laminated architectural glass. This collaboration with Shark Solutions resulted in TPEs containing 25% post-consumer recycled PVB, suitable for various consumer and automotive applications.
- Cube Berlin’s modern architecture, reflecting the vibrancy of Berlin’s Washingtonplatz, came to life in October 2023. Eastman’s Saflex™ Solar (SG) and Saflex™ Structural (DG) PVB interlayers, chosen for their structural integrity and solar control, played a crucial role in the project alongside 3XN Architects and industry experts.
- The Museum of Fine Arts Houston (MFAH) unveiled its Nancy and Rich Kinder Building addition in December 2023, illuminating galleries with natural light while preserving priceless classical art through the innovative use of Vanceva™ PVB interlayers.
Top 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.
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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
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