LONDON--(BUSINESS WIRE)--Technavio projects the global polyvinyl butyral market to post a CAGR of more than 6% during the forecast period. The increased demand for polyvinyl butyral films is a key driver, which is expected to positively impact market growth during the period 2018-2022.
Polyvinyl butyral films used in laminated glass act as a protective interlayer by strongly bonding two panels of glass under high heat and pressure. This treatment renders optical transparency to the interlayer, rendering the panels as a single glass unit. The polymer in the polyvinyl butyral film is tough, strong, and ductile, thereby preventing cracks. Also, polyvinyl butyral films have been widely adopted in manufacturing photovoltaic thin-film solar modules due to their excellent properties. They encapsulate the circuit and protect it from environmental damage. Thus, the increased demand for films and sheets in the automotive sector and other end-user industries can create more growth opportunities for the global polyvinyl butyral market.
This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing
Save more with Technavio. Buy 2 reports and get the third for FREE: View all Technavio’s current offers
In this report, Technavio highlights the growing demand from the photovoltaic industry as one of the key emerging trends to drive the global polyvinyl butyral market:
Growing demand from the photovoltaic industry
The photovoltaic effect is a phenomenon involving the conversion of light energy into electricity using semiconductors. For instance, a solar cell absorbs sunlight and converts it into electricity. The solar photovoltaics industry is experiencing increased installation capacity over the years, which will result in reduced greenhouse gas emissions as well as a reduction in the release of harmful pollutants. Solar panels are used for both residential and industrial applications. Polyvinyl butyral is used as an encapsulation material for solar cells and graphene batteries due to its excellent thermal properties such as thermal and ionic conductivity.
“The global energy statistics of 2017 reveal that a major portion of the electricity was produced from non-renewable sources. However, the global renewable energy market share is expected to increase from 12% in 2015 to 15% by 2022, which augurs well for the solar photovoltaics industry. This will lead to an increase in demand for polyvinyl butyral during the forecast period,” says a senior analyst for plastics, polymers, and elastomers research at Technavio.
Looking for more information on this market? Request a free sample report
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Market segmentation and analysis through 2022
This market research report segments the global polyvinyl butyral market based on application (films and sheets, paints and coatings, adhesives, and others) and key regions (the Americas, APAC, and EMEA).
The films and sheets segment held more than 87% share of the market in 2017, followed by the paints and coatings and adhesives segment respectively.
In 2017, the global polyvinyl butyral market was led by APAC which accounted for more than 40% share followed by the Americas and EMEA respectively. APAC is also expected to witness the maximum growth in its market share over the forecast period.
Save big with Technavio this May!
Find out what companies are venturing in to beat the heat this summer! Technavio indulges you with a massive 20% OFF on all
non-alcoholic beverages reports for the entire month.
Technavio honors the achievements and efforts of Motherhood this Mother's Day by offering a whopping 30% OFF on all cosmetics and toiletry reports. Offer valid from 7th May for a limited period.
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at firstname.lastname@example.org.