Polyvinyl Butyral Market

The global Polyvinyl Butyral (PVB) Market Size is projected to grow from USD 3.5 billion in 2023 to USD 4.7 billion by 2032, registering a CAGR of 3.7% between 2023-2032. The rising demand for PVB from end-use applications such as automotive laminating sheets, will further drive the PVB demand in the forecast period. Polyvinyl butyral (PVB) is a clear, colorless, thermoplastic material manufactured by reacting polyvinyl alcohol and butyraldehyde. It is mainly used in fabricating various laminated glass products for the automotive, construction, and photovoltaic end-use industries, owing to its optical clarity and strong adhesive nature.

The total Polyvinyl butyral (PVB) capacity has been estimated to be XXXX Kiloton in 2023. PVB capacity is set to reach XXXX Kiloton by 2032 owing to the rising demand for X. DuPont, Eastman Chemical Company, Sekisui Chemical Company, Chang Chun Petrochemical Company Limited, Kingboard Specialty Resins Limited, Kuraray Company Limited, Huakai Plastic Company Limited, Everlamare, Dulite Company Limited. are some of the top PVB producers in the world.

Global demand for PVB was estimated to be around X Kiloton in 2023. Asia Pacific dominates the PVB market on the back of the strong Automotive industry in the region. The major demand for PVB is from films which constituted around X% in 2023. PVB films are used in the automotive and construction industry because they provide a long-lasting finish, prevent the formation of surface bubbles, and have low flammability. X is also a key application of PVB. XXXX and XXX region together accounted for XXX% of the total demand. The other regions together accounted for the remaining XX%.

Rising demand for PVB films in the automotive industry

The films & sheet application dominates the PVB market as films & sheets are used as an interlayer in the manufacture of laminated glasses which are used in architectural and automotive industries. The demand for PVB as an interlayer in laminated glass is boosting the PVB market, owing to its usage for safety and security purposes in automobile windshields.

Laminated glass is a kind of safety glass that keeps the components unharmed when broken. A PVB interlayer between the two or more layers of glass holds it in place. In the case of an accident, the interlayer keeps these two layers of glass linked, and PVB's excellent strength prevents the glass from shattering into pieces. PVB laminated glass has excellent insulation properties, good impact resistance, and UV resistance. UV protection of PVB laminated glass prevents the interiors from fading up.

Increasing demand in the photovoltaic industry

The major application of Polyvinyl butyral is as the interlayer in laminated safety glass for architectural purposes & automotive windscreens. PVB is used in the manufacture of thin-film solar PV modules. A circuit is made on a glass sheet with a layer of PVB and a second layer of glass ( also known as back glass) which is placed directly on the circuit. This laminate protects the circuit from environmental conditions. PVB back sheets are preferred because it has good impact properties and is also a cheaper alternative to other back sheets. The photovoltaic industry is seeing a boost in the industry because of the increasing awareness for clean and sustainable energy which is set to boost the PVB market in the forecast period.

High Production cost and Stringent environmental rules

The manufacture of PVB films is very costly because it requires a special temperature-controlled chamber and the glass must then be processed in an autoclave, which in turn requires an expensive and large machine suitable for companies with large volumes. PVB when compared to its substitute products such as Ethylene Vinyl Acetate (EVA), has high manufacturing and processing costs. EVA laminated glass can be produced in convection or infrared lamination furnaces, these furnaces are small and accessible to small and medium-sized enterprises. The COVID-19 pandemic had a negative impact on the PVB market because the construction and automotive industries were shut down due to the nationwide lockdown.

PVB generates excessive amounts of wastewater from the raw materials during the production process. Various laws and rules have been implemented to protect the environment from industrial waste.