The global polyvinyl butyral(PVB) market size is likely to
reach USD 3.43 million by 2024, according to a new report by Grand View
Research, Inc., progressing at a CAGR of 5.4% during the forecast period.
Flourishing automotive industry in countries such as China, Japan, U.S.,
Germany, and Brazil is one of the key factors driving the market.
Polyvinyl butyral (PVB)
is a resin that is primarily used in automotive and architectural applications,
owing to its various properties including optical clarity, strong binding,
excellent adhesion, flexibility, and toughness. Upswing in product demand in
end-use industries is stoking the growth of the market.
PVB is substantially
utilized in the ceramics industry owing to various properties including
wear-resistance, thermal insulation, hardness, brittleness, chemical stability,
and oxidation resistance. The demand for PVB in the ceramics industry is
projected to exhibit a substantial growth over the coming years owing to its
rising consumption in electrical and electronics.
High availability of PVB
in various sizes and shapes is poised to augment its demand in the near future.
However, price fluctuations of raw materials including polyvinyl alcohol and
butyraldehyde are estimated to have a negative impact on the growth of the
market. For example, In April 2015, Sekisui Specialty Chemicals, one of the
major polyvinyl alcohol manufacturers, announced price hike of polyvinyl
alcohol by USD 100 per metric ton.
Some of the prominent
industries utilizing PVB adhesives are construction, transportation, consumer
products, labelling, assembly, and packaging. Key properties of PVB adhesives
include low water content, high boiling point, and hydrophobicity. Some of the
leading market players are 3M Company, Bostik China Co., Ltd., Henkel AG &
Company, and HB Fuller CO. Spiraling demand for adhesives in the automotive and
building & construction industries in developing countries such as India,
China, and Thailand is anticipated to fuel growth prospects.
Access Research Report of Polyvinyl Butyral Market@ https://www.grandviewresearch.com/industry-analysis/polyvinyl-butyral-pvb-market
Further key findings from the report suggest:
· Sheets & films application is expected
to reach 435.95 kilo tons by 2024, at a CAGR of 4.5% from 2016 to 2024
· In terms of revenue, the paints &
coatings segment is likely to register a 4.3% CAGR over the upcoming years
· Adhesives are projected to witness
significant growth in the global polyvinyl butyral market over the coming
years. In 2015, the segment accounted for approximately 4.5% of the overall
market
· The U.S. PVB market is poised to exceed 96
kilo tons by 2024
· North America is estimated to experience a
CAGR of 4.2% over the forecast period, owing to favorable demographic trends in
North America.
· Asian countries, especially China, Vietnam,
India, and Indonesia, are anticipated to observe remarkable growth in next few
years
· The market is fragmented in nature, wherein
major market participants are headquartered in Taiwan, U.S., China, and Japan
· Some of the key companies present in the
market are Eastman Chemical Co., Chang Chun, Sekisui Chemicals, Huakai Plastic,
Kuraray, Kingboard Specialty Resins, Qingdao Haocheng, Everlam, Zhejiang
Pulijin Plastic, and Jiangxi Rongxin Materials
Grand View Research has
segmented the global polyvinyl butyral market on the basis of application and
region:
Polyvinyl Butyral Application Outlook (Volume, Tons;
Revenue, USD Thousand, 2013 - 2024)
·
Films & Sheets
·
Paints & Coatings
·
Adhesives
·
Others
Polyvinyl Butyral Regional Outlook (Volume, Tons;
Revenue, USD Thousand, 2013 - 2024)
·
North America
o
U.S.
o
Canada
o
Mexico
·
Europe
o
Germany
o
U.K.
o
France
o
Italy
o
Russia
o
Poland
o
Turkey
·
Asia Pacific
o
China
o
Japan
o
Taiwan
o
South Korea
o
India
o
Vietnam
o
Indonesia
·
Latin America
o
Brazil
o
Chile
o
Argentina
·
Middle East & Africa
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.
For More Information: www.grandviewresearch.com
