Polyvinyl Butyral (PVB) Market Analysis

Polyvinyl Butyral Market Analysis

The global polyvinyl butyral market is segmented, based on end-user industry, into building & construction, transportation, defense and others. Building & construction segment will account for an approximate share of more than 25% throughout the forecast time period. The product is used for both commercial and residential building applications. The product is used in a range of application areas including architectural glazing, acoustic protection and lamination of glass in hospitals, restaurants, resorts, museums, libraries, hotels, etc.
 

Transportation segment is likely to grow at significant rate in the study period due to growing polyvinyl butyral usage in producing laminated glasses for vehicle. The product improves key mechanical and optical properties of vehicles compared to conventional glass systems. Rising safety concerns for vehicles will further drive the product demand in the study period.
 

The major application segments in the global PVB market are lamination, coatings, acoustic protection, architectural glazing, binders and others. Laminated glass segment accounted for approximately one fifth share of the overall market in the study period. This is due to rising product demand in the building & construction and automotive industry. Laminated glass manufactured from PVB possesses key properties including good absorption of UV light, excellent sound barrier properties, better impact resistance, etc. Coating segment is likely to grow at more than 6% CAGR in the upcoming years. This is due to growing product usage in coating application for textile substrates. Polyvinyl butyral is also used in the coating applications of powdery paints, printing inks, wood paints, foil coatings, leather paints, adhesives, etc.
 

Asia Pacific accounted for around 40% of the share of the overall PVB market due to growth in construction and automobile industry. China reported an increase in the number of vehicle production from 18 million units in 2010 to 28 million units in 2016. Furthermore, the region has reported significant number of people migrating to urban areas in this period. For instance, Asia Pacific region reported around 45% of its population living in cities in 2013. New Zealand and Australia reported more than 85% of its population in urban areas during that year. Rapid urbanization and growth in the number of vehicles in Asia Pacific will provide huge opportunity for the industry in the upcoming years.