Rapid Growth Expected in Polyvinyl Butyral (PVB) Market New Report
The Eastman Chemical Company also developed a solution for
automotive and architectural applications with the launch of Saflex® polyvinyl
butyral, which enhances the displaying capability of automotive glass. Considering
the huge requirement of PVB for the automotive, construction, and solar
equipment, major giants in polyvinyl butyral (PVB) market have been involved in
conducting lucrative mergers and acquisitions of late. For instance, recently,
a renowned behemoth in PVB industry, Kuraray Co., Ltd has acquired Calgon
Carbon Corporation for approximately USD 1.1 billion.
Through this
acquisition, Kuraray will strengthen its role toward development of sustainable
and environmentally friendly products. The recyclability, improved adhesiveness,
and eco-friendly properties of PVB have attracted many such companies such as
Kuraray to invest in PVB market. In fact, the deployment of PVB for various
applications such as coatings, lamination, glazing, and binding has been
increasing remarkably in recent times, which in response has led to a major
surge in polyvinyl butyral market share.
Rapid
industrialization and urbanization have led to a rise in pollution levels and
landfills pertaining to the increasing wastage from urban and industrial
processes. Taking into account the hazardous impact of non-recyclable waste
products on the environment as well as on human health, several regulatory
bodies and energy management organizations have taken initiatives to promote
the usage of recyclable raw material to manufacture various end-use products
such as glasses, paints, primers, and adhesives.
For instance, the ADEME, the
French Environment and Energy Management Agency, has continuously been making
efforts to encourage people to adopt renewable energy facilities. In addition,
it has decided to implement 100% recycled plastic manufacturing plants by 2025,
for the purpose of which it has selected about 135 waste management projects. Among
these, Swallowtail will recycle household flexible plastic packaging, Funx will
recycle agricultural bags, and HPI will recover PVB used in automotive
windshields, which is certain to impel polyvinyl butyral industry outlook.
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Speaking about product advancements, it is
noteworthy to state that leading manufacturers of specialty polymers are
constantly working on optimizing the properties of PVB. For instance, the
pioneering participant in polyvinyl butyral market, Kuraray Europe GmbH is
continually striving to develop innovative applications of PVB in domains such
as ceramic laminates, laminates for metal films, thermoplastic prepregs,
fiberglass laminates, and lightweight construction. Besides, the growing
adoption of electric vehicles mainly across European countries and China, owing
to the increasing deployment of regulatory norms about energy efficiency along
with increasing awareness regarding carbon dioxide emissions from vehicles, has
also been augmenting polyvinyl butyral industry outlook.
Currently,
most of the end users are primarily depending on fossil fuel resources to
fulfill their energy needs, however, depleting fossil fuel resources have
brought about a paradigm shift in the mindset of the masses with regards to
energy use. Taking into account the importance of renewable energy sources,
many of the governments and regulatory bodies have implemented favorable rules
and regulations to encourage people for renewable energy deployment.
Taking into account growing importance for PVB,
pivotal players in polyvinyl butyral industry are constantly focusing on the
successful execution of business expansion strategies. The changing trends
toward the escalating use of laminated glass in architecture along with growing
requirement of high-quality products are likely to open up new opportunities
for the biggies in PVB market over the years ahead. As per statistics, PVB
industry size has been forecast to be pegged at USD 3.9 billion by 2024.
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Rapid Growth Expected in Polyvinyl Butyral (PVB) Market New Report
Reviewed by GMI
on
July 04, 2018
Rating:
Reviewed by GMI
on
July 04, 2018
Rating:
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