Sound Insulation PVB Film Market Size Forecast to Reach $813.8 Million by 2026
Increasing Automation Production Will Require More Sound Insulation PVB Films for Reducing Noise Arising in the Automotive, Which Will Act as a Driver for the Sound Insulation PVB Film Market.
Hyderabad, India – July 10, 2021 /MarketersMedia/ —
Sound insulation PVB film Market size is forecast to reach US$813.8 million by 2026, after growing at a CAGR of 3.8% during 2021-2026, owing to the increasing usage of sound insulation PVB film in various end-use industries such as automotive, aerospace, and architecture, and more. PVB films with enhanced vibration damping behavior provide an alternative to poured resins for glazing systems, owing to which its demand is increasing in these end-use industries.
The sound insulation PVB film industry is growing as people become more concerned about harmful noise in highly populated areas and as people become more conscious of the importance of energy-efficient buildings. The construction industry’s rapid expansion has raised the demand for laminated safety glass, propelling the market forward. Furthermore, the flourishing automotive industry is also expected to drive the sound insulation PVB film market substantially during the forecast period.
Covid-19 Impact
The COVID-19 pandemic outbreak is having a huge impact on the automotive and construction industry. Construction and engineering operations have been temporarily halted in several regions. For example, in Quarter 2 (April to June) 2020, construction products in the United Kingdom dropped by a record 35.0 percent as compared to Quarter 1 (January to March) 2020. Furthermore, car manufacturing has been halted, resulting in a significant decline in the overall automotive market.
Demand for new commercial vehicles in the EU remained low in June 2020 (-20.3 percent), according to the European Association of Automotive Manufacturers, though the rate of decline slowed compared to April and May. With the decrease in automotive production and construction activities, the demand for sound insulation PVB films has significantly fallen, which is having a major impact on the market.
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Sound Insulation PVB Film Market Segment Analysis – By Geography
Asia-Pacific region held the largest share in the sound insulation PVB film market in 2020 up to 39% and is growing at a CAGR of 4.5% during 2021-2026, owing to the increasing demand for sound insulation PVB films from the expanding building and construction industry in the region.
Furthermore, the building and construction activities are also increasing in the Asia Pacific countries, owing to the various government initiatives such as Foreign Direct Investments (FDI). Hence, with the increase in construction activities across the Asia Pacific, the demand for sound insulation PVB film will be foreseen to grow enormously during the forecast period.
Sound Insulation PVB Film Market – Drivers
Increasing Automotive Production
Recently, in addition to safety, the functions needed for automotive glazing systems are becoming more complex to meet customer needs, such as comfort, safety, and environmental concerns. Sound insulation PVB interlayer for laminated glass is, of course, taken as a practical way of introducing new functions to the automotive glass system, as demand from the rising automotive industry increases.
In 2019, the sport utility vehicle (SUV) category accounted for nearly 5.7 million new vehicles, 10 times as many as in 2001. India’s annual production in 2019 was 30.91 million vehicles, according to Invest India, compared to 29.08 million in 2018, recording a healthy 6.26 percent growth. Also, by 2026, the US$118 billion Indian car industry is projected to cross US$300 billion. Thus, increasing automation production will require more sound insulation PVB films for reducing noise arising in the automotive, which will act as a driver for the sound insulation PVB film market.
Flourishing Aerospace Industry
Sound insulation PVB film exhibit a huge range of physical properties, owing to which it is largely employed in the aerospace sector. In the aerospace industry, acoustic polyvinyl butyral (PVB) films are often used in heads-up-display (HUD) panels for reducing aircraft noise.
Boeing predicted that China’s airlines will spend US$1.4 trillion on 8,600 new planes and US$1.7 trillion on commercial aviation services over the next 20 years in November 2020. According to Boeing’s current business forecast, the Middle East would need 2,520 new aircraft by 2030. Also, according to Boeing, demand for 2,300 aircraft, worth US$320 billion, is expected to rise over the next 20 years in India. Hence, the increasing aviation industry acts as a driver for the sound insulation PVB film market.
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Sound Insulation PVB Film Market Landscape
sound insulation PVB film market are Eastman Chemical Company, Jiangxi Rongxin New Materials Co. Ltd., E. I. du Pont de Nemours and Company, Sekisui S-LEC, Kuraray Co., Ltd., Everlam GmBH, ChangChun Group, Kingboard Chemical Holdings, Huakai Plastic Products Co. Ltd, and Zhejiang Decent Plastic Co., Ltd.
Key Takeaways
Asia-Pacific dominates the sound insulation PVB film market, owing to the increasing manufacturing & construction activities in APAC due to various government initiatives such as “100 smart cities” and “Housing for all by 2022”.
The middle film can withstand continuous attacks by hammers, helicopters, and other weapons, and can withstand bullet penetration for a long period, and its safety measures are very high.
The sound insulation effect in the modern living room has become one of the important factors to measure the quality of housing. Using the laminated glass of PVB middle film can block sound waves, enhance vibration damping, maintain a quiet and comfortable office environment, owing to which there is an upsurge in its demand.
Related Reports:
A. Polyvinyl Butyral (PVB) Market
https://www.industryarc.com/Research/Polyvinyl-Butyral-Market-Research-500245
B. Soundproof Curtains Market
https://www.industryarc.com/Research/Soundproof-Curtains-Market-Research-501641
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