Polyvinyl Butyral Market to exceed USD 3.9 billion by 2024;
according to a new research report by Global Market Insights, Inc.
Rapid growth in the global automotive
industry mainly focused in the developing countries of Europe and Asia Pacific
will primarily drive the polyvinyl butyral market till 2024. Broad applications
in producing safety glass like soundproof glasses and automotive windshields
will significantly drive the demand over the forecast period.
Additionally, the demand for polyvinyl
butyral is observed in building & construction vertical, as the
construction activities are highly increasing in some parts of Asia Pacific,
and Europe will show a positive effect on the growth of polyvinyl butyral
market over the coming years. High product consumption in manufacturing balustrades,
industrial & commercial facades, stairs & floors, overhead glazing,
etc. are highly increasing, and this will give an additional boost to the
growth of global polyvinyl butyral market till the end of the forecast period.
Growing product consumption in stadiums, defense offices, airport terminals,
and shopping malls will further drive the demand for polyvinyl butyral over the
coming years.
Increasing recycling activities of polyvinyl butyral in
some of the developing nations of APAC will show an adverse impact on the
polyvinyl butyral market by restraining its growth over the projected years.
Lamination applications held significant market share in
2016, and will also grow over a healthy CAGR in the forecast period. Rising
laminating glass demand across construction and automobiles applications will
boost the demand for polyvinyl butyral significantly, primarily in developing
nations of Europe, and Asia Pacific.
Building & construction dominated the global polyvinyl
butyral market, backed by transportation and defense verticals. In this
vertical, both acoustic protection glass, and laminating glass demand will
increase, and will majorly attribute to the substantial market share in the
forecast period.
Regionally, Asia Pacific will have
the lion’s share of global polyvinyl butyral market by 2024. Growing product
consumption in end-user verticals like defense, building & construction,
and transportation in this region will primarily account for higher market
share till 2024.
Vital operating players in global polyvinyl butyral market
are Kuraray, Sekisui, and Eastman among others. Some of the additional players
include Kingboard, Huakai Plastic, and Chang Chun Petrochemicals.
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