CHICAGO, Aug. 25, 2022 /PRNewswire/ -- Polyvinyl Butyral Market size is projected to grow from USD 3.7 Billion in 2022 to USD 5.1 Billion by 2027, at a CAGR of 6.5% between 2022 and 2027, according to a new report by MarketsandMarkets. PVB is a transparent, tough, and flexible thermoplastic used to develop fracture-resistant and high clarity films & sheets, paint & coating, and adhesives. Development in electronics & electricals industry has increased the consumption of PVB as a sealing material for solar modules. PVB is widely used in paint & coatings applications such as wood paints, leather paints, stoving paints, and priming paint for metallic materials, such as steel, aluminum, galvanized iron, and copper. Electrophotographic coating and thermos photographic coating also utilize PVB in coating applications. Substitute material such as SGP ionoplast interlayer hinders the growth of the market. However, SGP cannot be combined with PVB based interlayers and comparatively less cost effective than Polyvinyl Butyral.
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In terms of value, the paints & coatings segment is estimated to be the second-largest market in the global Polyvinyl Butyral Market (PVB Market), by application, during the forecast period.
Polyvinyl Butyral paints & coatings are utilized in gloss surface protective paints for tennis rackets and varnish for cabinets. PVBs are used as binders in inks, paints, metal powder, and primers owing to its strong adhesion and used in making anti-corrosion primers, stove enamel, and glazes.
Electrical & electronics and is estimated to be the third-largest end-use industry by value in 2022
Polyvinyl Butyral in the electronics & electrical industry have applications in renewable energy generation such as solar packaging. PVB is mainly used in thin-film solar cells as back sheet material of solar modules and protection from environmental conditions such as moisture and UV exposure.
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North America accounted for the third-largest region, by value, during the forecast period
Polyvinyl Butyral Market (PVB Market) growth in the region is anticipated to be driven by a strong rebound in the construction activity of the US. The growth in US construction industry is expected to boost the demand for PVB paints & coatings applications during the forecast period. Additionally, rising investment in the electronics & electrical industry and automotive industry in Canada will support the growth of Polyvinyl Butyral films & sheets in the region.
Major players operating in the Polyvinyl Butyral Market (PVB Market) includes Kuraray Co. Ltd.(Japan), Eastman Chemical Company (US), Sekisui Chemical Co. Ltd.(Japan), Hubergroup (Germany), Chan Chun Group (Taiwan), Anhui WanWei Bisheng New Material Co., Ltd.(China), Kingboard (fo gang) Specialty Resins (China), Qingdao Jinuo New Materials Co., (China), Huakai Plastic (China), Tridev Resin Pvt. Ltd.(India).
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