San Francisco, 24 Sep 2018: The global Polyvinyl Butyral (PVB) Market is expected to reach USD 4.06 billion by 2024, according to a new report by Grand View Research, Inc. Rising demand for the product as they provide superior resistance to weather & moisture, attractive colors, optical clarity, strong binding, excellent adhesion, flexibility and toughness will fuel industry growth over the next eight years.
Rising government spending on solar power and construction infrastructure along with the growing population will augment industry expansion. Growing consumption of PVB films & sheets in thin film solar modules on account of its low cost and environment-friendly properties will drive market size over the next eight years.
Paints & coatings application segment is expected to witness substantial revenue gains at a CAGR of 6.3% from 2016 to 2024. The product acts as a protector and corrosion preventer for various metals including steel, iron, zinc and aluminum. Moreover, properties including superior adhesion and resistance to UV radiation will induce the demand for the product over the forecast period.
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www.grandviewresearch.com/industry-analysis/polyvinyl-butyral-pvb-market
Further key findings from the report suggest:
- The global PVB market size was 369.8 kilo tons in 2015 and is expected to show high gains in light of rapid infrastructural development in China, India, Mexico, Saudi Arabia, Brazil, Singapore, Thailand, Indonesia and the U.S.
- PVB adhesives will witness considerable volume gains at a CAGR of 5.7% from 2016 to 2024. Growing usage of these adhesives owing to their superior strength, adhesion and binding properties in various environmental conditions is expected to stimulate industry growth. Furthermore, rising usage in the paper, packaging, automotive, construction, assembly, manufacturing, woodwork and consumer products will fuel industry growth over the forecast period.
- North America accounted for 23.4% of the overall volume share in 2015 and is expected to witness gains in light of rising construction activities in the U.S. coupled with growing automobile manufacturing in Mexico.
- Latin America will show significant revenue increase at a CAGR of 7.4% from 2016 to 2024 owing to rapid economic growth along with increasing vehicle production in Brazil. Increasing government efforts to promote solar energy generation will stimulate product demand over the forecast period.
- PVB industry is dominated by major participants including include Eastman Chemical Company, DuPont, Chang Chun Petrochemical, Sekisui Chemicals and Kuraray. Companies are expanding their production capacities to cater to the growing global demand for the resin. For instance, in June 2016, Kuraray Co., Limited announced plans to construct a manufacturing facility for polyvinyl butyral films at its South Korean plant.
Access press release of this research report by Grand View Research: www.grandviewresearch.com/press-release/global-polyvinyl-butyral-pvb-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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