Global Polyvinyl Butyral Market to Witness High Demand from the Photovoltaic Industry| Technavio

LONDON–(BUSINESS WIRE)–#Plastics—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.

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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.

ÔÇ£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,ÔÇØ says a senior analyst for plastics,
polymers, and elastomers research at Technavio.

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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.

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