Abstract Polyvinyl butyral (PVB) resin exhibits strong adhesion to a wide range of substrates, making it a valuable material in various commercial applications as an adhesive, primer, organic binder, and flexible substrate. Recently, PVB has attracted growing interest due to its versatility and potential for diverse engineering applications, including smart windows, wearable electronics, tissue engineering, and multifunctional materials. This review provides a comprehensive overview of the synthesis, characterization, and applications of PVB, and highlights recent advancements in synthetic techniques and explores its use in laminated glass, flexible electronics, anti‐corrosion coatings, composites, and electronic ceramics. Additionally, current challenges and future opportunities are discussed to underscore emerging research directions for PVB and its analogues in engineering applications. By offering an in‐depth perspective, this review aims to guide both fundamental research and the development of commercial applications of polyvinyl acetal materials.