Polyvinyl Butyral Market Business Revenue, Future Growth, Trends Plans, Top Key Players, Industry Share, Global Analysis and Forecast to 2023
Global Polyvinyl Butyral Market Information – by Application (Glass Lamination, Ceramic Binder, Composite Fiber Binder, Wash Primer and Others), by End Use (Automobile, Solar Energy, Paint & Coatings and Others) and Region- Forecast till 2023
Pune, India – July 1, 2019 /MarketersMedia/ —
Market Overview:
Polyvinyl Butyral compounds find its application in making resins. They provide strong adhesion to several substrates, optical clarity, flexibility coupled with toughness. These properties are widely applied in solar energy, paint & coatings industry, and in automobile industry. Besides, PVB is extensively used in laminating glasses.
The requirement for fast and realistic solutions to address climate change is urging worldwide demand for energy, forcing consumers, businesses and governments to consider holistic options that can prevent harmful impact on the environment. This is driving the demand for solar energy which in turn is boosting the PVB consumption rate in installing solar panels. Increased usage of laminated glass in automobiles and increased expenditure on research activities also fuels the Polyvinyl Butyral compounds market.
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Additionally, demand for PVB is expected to witness a substantial growth over the forecast period owing to the burgeoning coatings & paints industry. The steel production process across the world is likely to be a key driver for the PVB Market. PVB has been characterized with its anti-corrosive properties and hence, acts as an effective primer. Surging disposable income coupled with rapid urbanization in developing countries can be projected to stimulate the growth of the PVB Market over 2017-2023. However, stringent regulations by several administrative bodies has limited the use of toxic organic chemicals in the production of Polyvinyl Butyral. This factor acts as an impediment for the PVB Market.
Key Players:
The key players dominating the Global Polyvinyl Butyral Market include E. I. du Pont de Nemours and Company (U.S.), Kuraray Co., Ltd. (Japan), Huakai (China), Eastman Chemical Company (U.S.), Kingboard (Fo Gang) Specialty Resins Limited (China), Chang Chun Petrochemicals Co., Ltd. (Taiwan), Dulite PVB Film (Taiwan), Everlam (Belgium), Guangzhou Aojisi New Materials Co., Ltd. (China), Tiantai Kanglai Industrial Co., Ltd. (China), Qingdao Haocheng Industrial Company Limited (China), Anhui Wanwei Group Co., Ltd. (China), Zhejiang Pulijin Plastic Co., Ltd. (China), Hunan Xiangwei Co., Ltd. (China), and Huzhou Xinfu New Materials Co., Ltd. (China).
Market Segmentation:
The Worldwide Polyvinyl Butyral Market has been segmented based on End Use Industry, Application and Region.
Based on End Use Industry, Global Polyvinyl Butyral Market is segmented into solar energy, automobile, paint & coatings, and others.
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Based on Application, the market is segmented into ceramic binder, glass lamination, wash primer, composite fiber binder, and others.
Regional Analysis:
The Worldwide Polyvinyl Butyral Market has been segmented into Europe, Asia Pacific, Latin America, North America, and the Middle East & Africa.
Asia Pacific market is likely to attain the highest CAGR over the forecast period 2017-2023, on account of developing industries. Demand for PVB is expected to proliferate in several nations of the Middle East & Africa such as the United Arab Emirates, Iraq, Iran, Kuwait, and Saudi Arabia. The demand is owing to the rising consumption rate in the construction sector. Besides, the global shift in economic power has positioned the Middle East as the center of world’s rapidly developing markets. Dubai has leveraged the position to present itself as a worldwide center for tourism, logistics, and aviation, which is expected to augment the application of PVB as an anti-corrosive primer for steel made products.
Polyvinyl Butyral Market has a strong presence in the North America. The growth is pertaining to the increase in production facilities, surging economic growth rate, and high consumption potential. In 2016, the U.S registered a soaring CAGR on account of rapidly expanding glass production for architectural purposes.
In Europe, the demand for PVB witnessed upsurge in regions like Germany, Italy, the U.K, Spain, Russia, and France. The demand is owing to increased outlay in innovation and rising purchasing power of the population. Furthermore, the presence of key automobile manufacturers in Germany is likely to propel the Polyvinyl Butyral compounds market.
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