Press release
Polyvinyl Butyral Market to Cross USD 3.9 billion by 2024
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.
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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.
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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.
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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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