According to the new market research report “PVB Interlayers Market by Type (Standard Polyvinyl Butyral and Structural Polyvinyl Butyral), End-use Industry (Automotive, Building & Construction, and Photovoltaic), Region (North America, Europe, APAC,RoW) – Global Forecast to 2024″, The PVB interlayers market size is estimated to be USD 3.1 billion in 2019 and projected to reach USD 4.4 billion by 2024, at a CAGR of 7.3%. The growing demand for safety glass/laminated glass from the automotive, construction, and photovoltaic industries is expected to drive the market.
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PVB interlayers are thin protective films sandwiched between two panels of glass. These interlayers are made from polyvinyl butyral resin, which has properties such as optical clarity, strong bond, toughness, flexibility, and adhesion to various surfaces. The glass with interlayers is called laminated glass, which is used in automobile, construction, and photovoltaic industries for various applications such as protection from projectiles, acoustic insulation, UV insulation, and safety & security. Increasing production of vehicles and mandatory safety glass regulations are the major factors driving the PVB interlayers market. The global PVB interlayers market size is expected to grow from USD 3.1 billion in 2019 to USD 4.4 billion by 2024, at a compound annual growth rate (CAGR) of 7.3%.
The growth of these interlayers is attributed to the increasing demand from the automotive, construction, and photovoltaic industries of several countries such as China, the US, and Germany. Regulations for safety glasses in automotive, the shift of the government toward green buildings to cut down the emission from construction activities, and acceptance of PVB interlayers in photovoltaic module for their protection against the environment are the major factors augmenting the growth of laminated glass globally.
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The global PVB interlayers market size is projected to grow from USD 3.1 billion in 2019 to USD 4.4 billion by 2024, at a compound annual growth rate (CAGR) of 7.3% during the forecast period. Increasing production of vehicles and mandatory safety glass regulations are the major factors driving the PVB interlayers market.
The key players in the PVB Interlayers market are Eastman Chemical Company (US), Kuraray (Germany), Sekisui Chemicals (Japan), Everlam (Belgium), Genau Manufacturing Company (India), KB PVB (China), Chang Chun Group (China), DuLite (China), Huakai Plastic (China), Willing Lamiglass Materials (China), Jiangsu Darui Hengte Technology (China), and Tiantai Kanglai Industrial (China). These players have adopted the strategy of expansion to enhance their product offerings and geographic presence.
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Kuraray (Germany) adopted expansion as its key strategy to expand its geographic presence. In June 2016, the company established a PVB films production facility at the Ulsan plant in South Korea. It completed the construction of its PVB production facility by the end of 2017 with an investment of USD 50 million. This expansion helped the company cater to the demand for PVB interlayers in Asia Pacific.
Sekisui Chemical (Japan) undertook the strategy of expansion to increase its product offering. In December 2017, the company planned to expand its Mexico plant with a third production line. The new production line is set to manufacture automotive interlayer films that will cater to the growing demand in Central and South America. In January 2018, the company planned to increase the production capacity of interlayer films at Roermond (The Netherlands) and resin at Geleen (The Netherlands). This expansion has helped the company manufacture wedge shape interlayer films for head-up displays (HUD).
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