The global Polyvinyl Butyral (PVB) Market size is projected to grow from USD 3.7 billion in 2022 to USD 5.1 billion by 2027, at a CAGR of 6.5% between 2022 and 2027. Asia Pacific was the largest market for PVB in 2021, by volume, owing to increased consumption of PVB in automotive and construction industries. Rising demand for PVB films & sheets in automotive industry for interlayers in glass lamination for windshields is expected to boost the demand for PVB during forecast period. Technological development in photovoltaics industry driven by increased investment and continuous R&D will provide growth opportunity to the PVB manufacturers. However, stringent environment regulations limits the growth of PVB market.
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The major players in the PVB market Kuraray Co. Ltd.(Japan), Eastman Chemical Company (US), Sekisui Chemical Co. Ltd.(Japan), Hubergroup (Germany), Chan Chun Group (Taiwan), Anhui WanWei Bisheng New Material Co., Ltd.(China), Kingboard (fo gang) Specialty Resins (China), Qingdao Jinuo New Materials Co., (China), Huakai Plastic (China), Tridev Resin Pvt. Ltd.(India). These players have adopted various growth strategies to expand their presence in the market. New product launches and investment & expansion have been the leading strategies adopted by the major players in the last five years to strengthen their competitiveness and broaden their customer base in the global PVB market.
Kuraray is one of the leading players engaged in manufacturing of specialty chemicals. The company has six operating business segments including vinyl acetate, isoprene, functional materials, fibers & textiles, trading, and others. Kuraray offers PVB resins through vinyl acetate business segment under the brand Mowital for automotive and construction industry. Kuraray has manufacturing presence in North America, Asia Pacific, and Europe.
Eastman Chemical Company is a leading manufacturer of specialty chemicals. The company has four business segments namely, additives & functional products (AFP), advanced materials (AM), chemical intermediates (CI), and fibers. It offers PVB resins through advanced materials business segment under the brand Butvar and Seflex for automotive and construction industry. The company is focusing on investment & expansion strategies to increase the production of interlayer film business. In 2021, the company has upgraded its interlayer film extrusion line and expanded the production capacity of PVB to cater growing demand in automotive and construction industry
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Another important player in the PVB market is Sekisui Chemicals, a PVB manufacturing company engaged in production of plastic molds, new materials, and technologies. Sekisui Chemicals offers PVB interlayers under the brand S-LEC for glass Interlayer for automotive and construction industries. Sekisui Chemicals has global business presence with manufacturing facilities in North America, Europe, Asia Pacific, and South America.
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