Market Size of Polyvinyl Butyral (PVB) Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 6.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Polyvinyl Butyral (PVB) Market Analysis
During the time frame of the forecast, the polyvinyl butyral market is expected to grow at a CAGR of over 6%.
The market was negatively impacted by COVID-19. Given the pandemic situation, car manufacturing plants were temporarily halted to prevent the spread, limiting demand for PVB materials used to manufacture safe, impact-resistant automotive windscreens. However, the industry has picked up speed since 2021, and the market is expected to follow a similar trajectory throughout the projection period as well.
- Over the short term, the growing number of laminated glass applications and the ever-increasing construction and infrastructure activities across the world are likely to boost market growth.
- On the flip side, the availability of product substitutes in the market is expected to hinder the market's growth. The high amount of polyvinyl butyral recycling in developed economies could also hurt the market because it would cause environmental problems.
- In the coming years, the market is likely to grow thanks to growing demand from the photovoltaic industry and more people buying electric cars.
- During the period of the forecast, the Asia-Pacific region is expected to lead and have the highest CAGR.
