Polyvinyl Butyral primarily as a raw material for laminated safety glass sheet in architectural and automotive applications is responsible for the expansion of the market in the forecast period. The consumption rate of PVB in installation of solar panels is another crucial factor responsible for the development of the market. The robust growth pace of the paint & coatings industry is also creating a powerful impetus to the market’s growth. Polyvinyl Butyral Market Trends is also expected to positively leverage the trend of urbanization to boost the growth levels that can be achieved over the forecast period.
Market Scenario and Growth Factors:
The increase in demand for strong binding resins has increased the demand for polyvinyl butyral which is a specialty resin substantially over the past few years. Market reports associated with the chemicals and materials sector made accessible by Market Research Future along with published reports on other sectors have been lately put out along with a report on this industry. The market is anticipated to develop at an exceptional pace in terms of CAGR while grossing incremental revenue levels in the forecast period.
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The market attractiveness and competitors’ dynamics are noticeably improved by the strategies that are being utilized by market players. The product range of the market has developed immensely in contrast to the past few years, thus making the market more profitable for current and new contenders. The market is incredibly well-defined in terms of segments concerning the product as well as the end users that are a portion of the market. The market shows enlarged potential for developing at a fast pace. The long run viability of the market is highly dependent on the techniques and the strategic roadmaps that are engaged by market players. The improved monetary liquidity of the competitors within the market has improved thereby proving new opportunities for the expansion of the market.
The important competitors functioning in the market are E. I. du Pont de Nemours and Company (U.S.), Kuraray Co., Ltd. (Japan), Tiantai Kanglai Industrial Co., Ltd. (China), Eastman Chemical Company (U.S.), Everlam (Belgium), Chang Chun Petrochemicals Co., Ltd. (Taiwan), Huakai (China), Kingboard (Fo Gang) Specialty Resins Limited (China), Dulite PVB Film (Taiwan), Anhui Wanwei Group Co., Ltd. (China) and Guangzhou Aojisi New Materials Co., Ltd. (China).
The Polyvinyl Butyral Market globally is segmented on the basis of end use industry, application, and region. The end use industry basis of segmentation of the market comprises of solar energy, automobile, paint & coatings, and others. On the basis of application, the market is segmented into composite fiber binder, ceramic binder, glass lamination, wash primer, and others. On the basis of the region, the market is segmented into regions such as Latin America, Asia Pacific, Europe, North America, and the Middle East & Africa.
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Detailed Regional Analysis:
The Polyvinyl Butyral Market comprises of the five regions of Europe, Latin America, Asia Pacific, North America, and the Middle East & Africa. Among these regions, the Asia Pacific region is projected to develop at a maximum CAGR through the review period due to growing industries. The demand for PVB is anticipated to grow in several countries of the Middle East & Africa owing to the escalated consumption rate in the construction industry. Furthermore, the shift in economic power globally has positioned the Middle East at the center of several of the world’s fastest-growing markets. Dubai, in particular, has leveraged that position to reinvent itself into a global hub for aviation, tourism, and logistics, which is expected to raise the consumption of PVB to use as an anti-corrosive primer for the steel. The North American region is predicted to witness an excellent growth rate on account of high consumption potential, growing production capacities, and increasing economic growth rate. In Europe, the demand for PVB is forecasted to develop in some countries such as Germany, Italy, Spain, France, the U.K, and Russia owing to an increased spending in innovation and rising purchasing power of consumers. Moreover, the existence of major automobile manufacturers, specifically, in Germany is anticipated to give an added impetus to the market’s growth. Latin American countries such as Argentina, Colombia, and Brazil are expected to observe considerable growth due to escalating consumer spending on passenger cars as well as the incorporation of new technologies and inventions in Polyvinyl Butyral. The Asia Pacific PVB market is anticipated to grow at a reasonable CAGR due to the emerging crude oil processing and expanding petroleum refineries in China and India. Furthermore, continual development of solar energy production capacities in several economies of the Asia Pacific such as India, Malaysia, China, Thailand, and Japan are estimated to increase the demand for laminated solar glass panels, which, in turn, is projected to drive the demand for PVB over the forecast period.