Polyvinyl Butyral (PVB) Films and Sheets Market Poised to Expand at 7.4% CAGR 2015-2023 Driven by Surging Demand from Construction Sector
Transparency Market Research announces the release of a new publication. This report is titled “Polyvinyl Butyral (PVB) Films and Sheets Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023” and indicates that the global polyvinyl butyral (PVB) films and sheets market is poised to expand at a 7.4% CAGR from 2015 to 2023, rising from a value of US$2.4 bn in 2014 to US$4.6 bn by 2023.
Polyvinyl butyral is a glass interlayer and is used in various industrial applications owing to several favorable properties such as impact resistance, transparency, elasticity, and high tensile strength. Considering these advantages, PVB is the ideal material for the production of safety glass.
The global market for PVB films and sheets is primarily driven by the surging demand from the construction, infrastructure, and automotive industries. Rapid developments in the photovoltaic market are also likely to boost the demand for PVB films and sheets in the near future. On the flip side, the difficulties in handling these products, the low shelf life of PVB films and sheets, the high cost of storage, and the availability of application-specific substitutes pose a threat to the expansion of the PVB films and sheets market.
The global PVB films and sheets market has been examined based on end use and region.
By end use, the PVB films and sheets market has been broken down into ground transportation, building and construction, solar energy, and others such as infrastructure. In 2014, ground transportation held a share of over 45% in the PVB films and sheets market, emerging as the largest end-use segment. Solar energy, on the other hand, is projected to expand at the highest CAGR of more than 6% from 2015 to 2023 owing to the rising demand for photovoltaic modules.
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By geography, the PVB films and sheets market has been segmented into Europe, Latin America, North America, Asia Pacific, and the Middle East and Africa. Accounting for a share of over 35% in the overall PVB films and sheets market in 2014, Asia Pacific has emerged as the dominant regional segment in terms of volume. The demand for PVB films and sheets in APAC can be attributed to the growing demand from the ground transportation sector and an upsurge in the consumption of PVB films and sheets from India, China, and several ASEAN countries. Recovering from the economic slowdown, North America and Europe are anticipated to witness stable growth in the PVB films and sheets market. The markets in Latin America and the MEA region are also projected to expand considerably over the next seven years fueled by the rapid growth of the building and construction as well as ground transportation industries.
Eastman Chemical Company, Kingboard Chemical Holdings Limited, Jiangsu Daruihengte Technology & Science Co., Ltd., Li & Fung Group Co., Ltd., Huakai Plastic (Chongqing) Co., Ltd., Zhejiang Pulijin Plastic Co., Ltd., Chang Chun Group, Kuraray Co., Ltd., and Sekisui Chemical Co., Ltd. are some of the leading players competing in the global PVB films and sheets market. These vendors have been profiled in the report based on aspects such as financial performance, recent developments, company overview, business strategies, and product portfolio.
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