Polyvinyl Butyral Market Size, Share, Demand & Growth by 2034
According to Future Market Insights’ latest industry analysis, the global market size for polyvinyl butyrals is estimated to be around US$ 4.30 billion in 2024. It is projected to exhibit a CAGR growth of 6.90% over the forecast period, with an estimated market size of US$ 8.40 billion in 2034.
The significance of polyvinyl butyral (PVB) has substantially increased in various industries in the last few years. The global automotive sector, for instance, is adopting PVB for laminated safety glass, which provides enhanced safety by preventing shattering upon impact. The demand for laminated safety glass is also rapidly increasing in architectural applications, with PVB interlayers providing impact resistance and improved structural integrity.
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Advancements in PVB technology, such as improvements in optical clarity, adhesion strength, and resistance to yellowing, are leading to PVB market expansion. PVB is also used extensively in the renewable energy sector, especially in solar energy, which encapsulates solar panels. This helps protect solar cells from external factors, such as moisture and UV radiation.
Businesses involved in the photovoltaic industry are extensively using PVB for encapsulating solar panels due to the need for durable and weather-resistant encapsulation materials. The sales of PVB are also touching the skies among companies specializing in safety glass production. Besides this, the expansion of the electronics industry in countries like China, India, and South Korea, particularly in encapsulation applications, is further driving the sales of PVB-based components.
Key Takeaways from the Market Study
- The films and sheet segment dominates the global polyvinyl butyral market with a projected CAGR of 6.70% through 2034.
- Based on the end-user, the automotive segment is likely to lead the polyvinyl butyral market with a CAGR of 6.50% till 2034.
- The polyvinyl butyral market in the United Kingdom is anticipated to expand at a modest CAGR of 8.10% through 2034.
- The polyvinyl butyral market in China is estimated to rise at a 7.60% CAGR through 2034.
- The polyvinyl butyral market in Japan is likely to increase at 8.60% CAGR through 2034.
- The United States polyvinyl butyral market is predicted to rise at a 7.20% CAGR through 2034.
- The polyvinyl butyral market in South Korea is very likely to develop at a CAGR of 9.00% through 2034.
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