Feb 9, 2023
PVB Interlayers Market is expected to grow at a CAGR of 7% Global PVB Interlayers Market is expected to reach US$ 6.30 Bn by 2029.
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PVB Interlayers Market is expected to grow at a CAGR of 7% Global PVB Interlayers Market is expected to reach US$ 6.30 Bn by 2029.
[88 Pages Report] PVB Interlayers Market research report categorizes the global market by Type (Standard Polyvinyl Butyral and Structural Polyvinyl Butyral), End-use Industry (Automotive, Building & Construction, and Photovoltaic) & By Region (North America, Europe, APAC,RoW).
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.
Increasing production of vehicles and safeguard regulations are fuelling growth of the global PVB interlayers market
♦Recent Developments Kuraray used expansion as its key strategy to increase its geographic presence. In 2017, Kuraray established a PVB films production facility at the Ulsan plant in South Korea with an investment of USD 50 million. This expansion helped the company to cater to the demand for PVB in APAC. Sekisui Chemical adopted expansion as their strategy to increase their product offering. In December 2017, the company announced that it has added a third production line at its Mexico plant. The new production line will produce automotive interlayer films due to the growing demand from Central and South America. In January 2018, the company decided to increase the production capacity of interlayer film at Roermond and resin at Geleen, both in the Netherlands. The expansion was done to produce wedge shape interlayer films for head up displays (HUD).
PVB Interlayers Market, Overview, Trends and COVID-19 Analysis, Forecast to 2023
Market Synopsis
The Global PVB Interlayers Market was valued at USD 3 billion in 2018 and is expected to cross USD 5 Billion by 2025 at a CAGR of 7.5%.
This growth comes as a direct result of the growth of the automotive industry, the increasing global demand for renewable sources of energy, and rapid urbanization in developing countries leading to a construction boom. These factors, coupled with the excellent adhesive and protective qualities and transparency provided by PVB interlayers, shall ensure market growth during the forecast period.
Market USP
Cost-effective utility in photovoltaic cells and widespread use in the manufacturing of safety glass for the automotive industry.
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Segmentation
By Type
Structural PVB Interlayer: Used when rigidity and integrity of the adhesive qualities of PVB are a must. Structural PVB interlayers are used in safety glass in high-rise buildings and other construction applications. The segment is expected to showcase the higher growth rate in developing countries with rapid urbanization.
Standard PVB Interlayer: The segment accounting for the majority of the market share can be attributed to the wide use of standard PVB interlayers in the automotive industry and in the fast-expanding photovoltaic cell industry.
By Application
Automotive: The largest segment due to the increasing demand for passenger and commercial vehicles, the demand for PVB interlayers in the automotive industry is high. The strength and UV-reflecting properties of safety glass reinforced with PVB interlayers market have led to widespread use in automobile production. The segment is expected to showcase growth in major car manufacturing hubs such as China, Japan, the US, and Germany.
Construction: The growth of the construction industry and increasing development of multi-story buildings is fueling the demand for safety glass, a key component of which is PVB interlayers.
Photovoltaic Cells: The fastest-growing segment due to the global increase in demand for renewable energy, especially in developing countries with a focus on reducing dependence on fossil fuel. The segment is expected to register growth in China, India, and Saudi Arabia.
By Region
North America: Market growth is driven by the demand for alternative sources of energy.
Europe: A well-established market.
Asia-Pacific: The largest and fastest-growing regional market.
Latin America: A small but growing automotive industry is fueling the demand for PVB interlayers in Latin America.
Middle East & Africa: Availability of the maximum number of sunshine hours is fueling the demand for photovoltaic cells.
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APAC is Projected To Account For The Largest Share of The PVB Interlayers Market
The report "PVB Interlayers Market by Type (Standard Polyvinyl Butyral and Structural Polyvinyl Butyral), End-use Industry (Automotive, Building & Construction, and Photovoltaic), Region (North America, Europe, APAC,RoW) - Global Forecast to 2024", The PVB interlayers market size is estimated to be USD 3.1 billion in 2019 and projected to reach USD 4.4 billion by 2024, at a CAGR of 7.3%. The growing demand for safety glass/laminated glass from the automotive, construction, and photovoltaic industries is expected to drive the market.
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Photovoltaic to be the fastest-growing end-use segment of the PVB interlayers market.
The demand for PVB interlayers in the photovoltaic industry is expected to grow at a relatively high rate, driven by its advantages over other plastic materials as an encapsulant in the photovoltaic modules. Owing to the growing focus on renewable sources for energy generation, the consumption of PVB interlayers in this end-use industry segment is projected to grow during the forecast period.
Standard to be the largest type segment of the PVB interlayers market.
Standard PVB interlayers are used in more than 70% of laminated glass applications. The major function of these interlayers is to enhance the safety and security performance, and improve the acoustic and UV protection performance of the glass. These interlayers are used in traditional four side supported glass and 1-3 side and minimally supported glass in windows, façade systems, overhead, floor and balustrade. However, these interlayers have comparatively lower post breakage performance. Hence, these interlayers are been replaced by advanced interlayers, such as PVB structured interlayers and ionoplast interlayers. In additionally, these interlayers have limitations, such lower strength and increased weight in comparison to monolithic glass.
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Key Market Players
The leading 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 strong R&D and focus on producing high-performance products to meet the demands of end users.
PVB InterlaThe report represents the exact condition of the current market which includes Business Opportunity, Innovations, Upcoming-Trends, Growth-Analysis, Demand-Insight, Top-Manufacturers for the forecast year 2020 to 2025. Our board of exchange experts has immense enormous endeavors in doing this gathering activity so as to deliver important and dependable essential and optional information with respect to the PVB Interlayers market.yers
The report "PVB Interlayers Market by Type (Standard Polyvinyl Butyral and Structural Polyvinyl Butyral), End-use Industry (Automotive, Building & Construction, and Photovoltaic), Region (North America, Europe, APAC,RoW) - Global Forecast to 2024", The PVB interlayers market size is estimated to be USD 3.1 billion in 2019 and projected to reach USD 4.4 billion by 2024, at a CAGR of 7.3%. The growing demand for safety glass/laminated glass from the automotive, construction, and photovoltaic industries is expected to drive the market.