Insulated-Gate Bipolar Transistors (IGBTs) Market Forecasts to 2028 – Global Analysis By Type (Discrete Insulated-Gate Bipolar Transistor (IGBT) and Insulated-Gate Bipolar Transistor (IGBT) Module), Power Rating (High Power Rating, Medium Power Rating and

Insulated-Gate Bipolar Transistors (IGBTs) Market Forecasts to 2028 – Global Analysis By Type (Discrete Insulated-Gate Bipolar Transistor (IGBT) and Insulated-Gate Bipolar Transistor (IGBT) Module), Power Rating (High Power Rating, Medium Power Rating and Low Power Rating), Application and Geography

According to Stratistics MRC, the Global Polyvinyl Butyral (PVB) Market is accounted for $3.49 billion in 2022 and is expected to reach $5.64 billion by 2028 growing at a CAGR of 8.3% during the forecast period. A transparent, robust, and flexible thermoplastic called PVB is used to create adhesives, paint and coatings, and films and sheets with great clarity and resistance to fracture. PVB use as a sealing material for solar modules has expanded as a result of advancements in the electronics and electrical industries. PVB is frequently used in paint and coatings for metallic materials such steel, aluminium, galvanised iron, and copper as well as wood, leather, stove, and primer paints.

According to the Organisation International des Constructers’ d'Automobiles (OICA), around 4.39 million vehicles were produced in China in 2021, compared to 3.38 million vehicles produced in 2020, witnessing a growth rate of about 30%. This scenario is expected to boost the polyvinyl butyral market in the country.

Market Dynamics:

Driver:

Demand for sunroof application in automotive industry

PVB interlayer’s for laminating glass will be used in material science innovation and growth-driven end-use industries like the automobile. PVB is a strong, high-temperature chemically stable material. PVB films and sheets are frequently utilised in applications to enhance passenger safety, noise reduction, and UV radiation blocking. Designer windscreens, rear glass, quarter glass, and sunroofs can all be made of PVB, which also offers the best light transmission and glare reduction. The PVB market will have growth prospects as the manufacturing of electric vehicles increases and the need for qualities such light weighting, sophisticated solar control, and design freedom is met.

Restraint:

High recycling activities

The PVB market is severely constrained by the existence of recycling facilities for PVB. Due to the higher energy and financial costs involved in producing PVB from raw materials, producers are putting more of an emphasis on recycling PVB. Due to recycled PVB's low carbon footprint and similar material characteristics, recycling was more affordable for producers.

Opportunity:

Increasing demand from photovoltaics industry

The electronics and electrical industry's increasing investment, R&D efforts, and technological advancements are opening up new possibilities for PVB's photovoltaic applications. In order to create photovoltaic thin-film solar modules, PVB has enhanced consumption. To boost production capacity and prolong the life of solar panels, top manufacturers are concentrating on thin-film efficiency, cheap processing, and manufacturing procedures.

Threat:

Stringent environmental regulations

During the manufacturing process, PVB wastes a lot of raw materials and produces a lot of water. To protect the environment against industrial waste, regulatory agencies across Europe and North America have put in place a number of laws and strict restrictions. The production of PVB films and sheets generates waste laminating glass, which is expensive to recycle and has an adverse effect on manufacturers' profitability.

Covid-19 Impact

Every country in the world went into some sort of lockdown during the COVID-19 epidemic, which had a significant impact on the manufacturing sector globally. The PVB market has suffered as a result of the supply chain and manufacturing disruptions. In order to stop the spread of the virus, most of the manufacturing hubs in some regions were virus hotspots in the early stages of the COVID-19 pandemic remained under lockdown. As a result, the area endured a vigorous social distancing effort, which also had an impact on its manufacturing sectors.

The films & sheets segment is expected to be the largest during the forecast period

The films & sheets segment is estimated to have a lucrative growth, due to their expanding end-use markets, PVB film and sheets are widely used in the construction and automotive industries. PVB films offer a durable finish, safeguard architectural graphics, and stop surface bubbles from forming. PVB film and sheets are required for window coverings in eco-friendly and energy-efficient structures. PVB film and sheets are utilised for safety in the construction and automotive industries due to their low flammability and smoke production characteristics.

The Electrical & electronics segment is expected to have the highest CAGR during the forecast period

The Electrical & electronics segment is anticipated to witness the fastest CAGR growth during the forecast period, due to the usage of PVB in the electronics and electrical industry is anticipated to rise as a result of the global shift toward the production of renewable energy sources. PVB films increase the acoustic performance and UV protection of glass and are a practical and affordable alternative for solar photovoltaic modules and encapsulation materials. The demand for high efficiency solar cells and government regulations on clean energy are anticipated to fuel PVB's expansion in the electrical and electronics sector.

Region with highest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to the favourable investment atmosphere for PVB makers. The region's established PVB manufacturers and important end-use industries are anticipated to drive up PVB demand. A moderately strict regulatory environment in Asia Pacific nations like China and India has helped the area to gain ground in the PVB industry.

Region with highest CAGR:

North America is projected to have the highest CAGR over the forecast period, owing to the expansion of the market has been positively impacted by a rise in the number of construction projects in the area. The market for polyvinyl butyral products is anticipated to be driven by new residential building. Due to the regional economic slowdown, the market for polyvinyl butyral in Europe is predicted to expand slowly; however, in the next years, the market is anticipated to rebound, which is likely to spur market expansion.

Key players in the market

Some of the key players profiled in the Polyvinyl Butyral (PVB) Market include Sekisui Chemical CO. LTD, Kuraray CO., LTD., Eastman Chemical Company, Kingboard (FO GANG) Specialty Resins Limited, Huber Group, Anhui Wanwei Bisheng New Material CO., LTD, Chang Chun GROUP, Huakai Plastic CO., LTD., Tridev Resins PVT. LTD., Huakai Plastic CO., LTD.

Key Developments:

In March 2021, Eastman Chemical Company announced investment in upgrading its interlayer film extrusion line in Massachusetts, US, and expands the production capacity of the interlayer film business. This investment aimed to strengthen Eastman's supply capacity and meet the demand for Saflex polyvinyl butyral (PVB) interlayer film products in the regional and global automotive and construction markets.

In February 2019, Kuraray Co. Ltd., launched a new SentryGlas production line to meet the growing demand in the residential and commercial building laminated safety glass market, and in 2021, the company upgraded the production line of Holesov and enabled the production of wider films.

In January 2018, Sekisui Chemical Company expanded the production capacity of interlayer films at Roermond (the Netherlands) and resins at Geleen (the Netherlands). The expansion was done to produce wedge shape interlayer films for head-up displays (HUD).

Types Covered:
• Alkaline Alcoholises
• Acidic Alcoholises
• Other Types

Applications Covered:
• Adhesive & Sealants
• Films & Sheet
• Printing Inks
• Paints & Coating
• Lamination
• Architectural Glazing
• Binders
• Acoustic Protection
• Other Applications

End Users Covered:
• Building & Construction
• Automotive
• Electrical & Electronics
• Photovoltaic
• Defense
• Other End Users

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements