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(CityRegions.Com, November 24, 2021 ) The global PVB interlayers market size is projected to grow from USD 3.1 billion in 2019 to USD 4.4 billion by 2024, at a compound annual growth rate (CAGR) of 7.3% during the forecast period. Increasing production of vehicles and mandatory safety glass regulations are the major factors driving the PVB interlayers market.
APAC is estimated to dominate the overall PVB interlayers market during the forecast period. The region has emerged as the largest consumer PVB interlayers, owing to the growth in production of electric vehicles, building & construction projects, and solar photovoltaic installations in China, India, Japan, South Korea, among other countries in the region.
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The key players in the PVB Interlayers market are Eastman Chemical Company (US), Kuraray (Germany), Sekisui Chemicals (Japan), Everlam (Belgium), Genau Manufacturing Company (India), KB PVB (China), Chang Chun Group (China), DuLite (China), Huakai Plastic (China), Willing Lamiglass Materials (China), Jiangsu Darui Hengte Technology (China), and Tiantai Kanglai Industrial (China). These players have adopted the strategy of expansion to enhance their product offerings and geographic presence.
Kuraray (Germany) adopted expansion as its key strategy to expand its geographic presence. In June 2016, the company established a PVB films production facility at the Ulsan plant in South Korea. It completed the construction of its PVB production facility by the end of 2017 with an investment of USD 50 million. This expansion helped the company cater to the demand for PVB interlayers in Asia Pacific.
Sekisui Chemical (Japan) undertook the strategy of expansion to increase its product offering. In December 2017, the company planned to expand its Mexico plant with a third production line. The new production line is set to manufacture automotive interlayer films that will cater to the growing demand in Central and South America. In January 2018, the company planned to increase the production capacity of interlayer films at Roermond (The Netherlands) and resin at Geleen (The Netherlands). This expansion has helped the company manufacture wedge shape interlayer films for head-up displays (HUD).
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Mr. Aashish Mehra