Polyvinyl butyral (PVB) compounds are used in making resins. They offer optical clarity, toughness coupled with flexibility, strong adhesion to a large number of substrates and excellent binding efficiency. Polyvinyl butyral has application in various industries like solar energy, paints and coatings and solar energy.
Factors Influencing the Market Growth
Drivers:
• There is a growing demand for renewable energy sources due to exhaustion of conventional energy sources and changing climatic conditions resulting into global warming. This has increased the installations of solar panels which has increased the consumption of PVB thus augmenting the market
• The paint and coatings industry is experiencing a surge which has increased the demand for PVB as well
• PVB is widely available in various shapes and sizes which supports the market augmentation
Restraints:
• Polyvinly alcohol and butyraldehyde are the raw materials used in the production of PVB are volatile in nature which affects its pricing thus impeding the market augmentation especially in construction and automotive applications
• The price fluctuations of butyraldehyde and polyvinyl alcohol is poised to have a negative impact on the market augmentation
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Insights on Global Polyvinyl Butyral Market
1. By Region
• Latin America
• North America
• Europe
• Asia Pacific
• Middle East and Africa
Latin America region dominated the market in 2015 and it is expected to showcase similar market proliferation during the forecast period. Automotive manufacturing sector is thriving in countries like Brazil, Argentina and Columbia resulting in the augmentation of the market in the region as PVB is widely consumed in automobile sector for laminating glass.
Asia Pacific region follows the Latin American market region owing to a soaring use of PVB in packaging applications. Additionally, a soaring use of adhesives and laminated glasses in medical packaging for the sake of preventing infections and maintaining patient health shall support the market augmentation of the region.
2. By Application
• Adhesives
• Films & Sheets
• Paints & Coatings
The adhesives segment dominates the market owing to the excellent adhesion and superior strength that PVB offers in various environmental conditions. In fact, PVB structural adhesives can also act as a substitute to rivets in the aircraft industry which augments the market further.
3. By End User
• Automobile
• Solar Energy
• Others
PVB is prominently used in automobile sector for making windshield glass lamination which is the reason automobile segment dominates the market. Additionally, rapid urbanization along with an increasing disposable income in emerging countries like India and China.
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Competitive Landscape:
• Tier 1 players- established companies in the market with a major market share
• Tier 2 players
• Emerging players which are growing rapidly
• New Entrants
Key Market Players:
• Eastman Chemical Co.
• Chang Chun Company Ltd.
• Sekisui Chemical Company Ltd.
• Kuraray Co. Ltd.
• Huakai Plastic Co. Ltd.
• Kingboard Speciality Resins Ltd.
• Tiantai Kanglai Co. Ltd.
FutureWise Key Takeaways
• The automobile industry is on a rise especially in the European region and considering how crucial PVB is in making strong and durable windshields, the market surely will expand significantly
• The solar energy sector is being soaring due to increasing environmental concerns and as PVB is widely used in manufacturing solar panels, the market is expected to witness a significant augmentation
Objectives of the Study:
• To provide with an exhaustive analysis on the poly vinyl butyral market by region, by application, by end user
• To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
• To evaluate and forecast micro-markets and the overall market
• To predict the market size, in key regions (along with countries)— Latin America, North America, Europe, Asia Pacific and Middle East & Africa
• To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
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