The global PVB market was valued at around $3 billion in 2015 and will reach a value of around $4 billion by 2020, says Technavio.
Technavio has announced its latest market research report on PVB to its plastics, polymers, and elastomers portfolio. This market analysis discusses the major drivers and key emerging trends that will influence the growth of the global PVB market during the forecast period 2016-2020. Some of the top vendors listed in this industry analysis include Chang Chun Petrochemical, Eastman Chemical, Kuraray, Kingboard (Fo Gang) Specialty Resins, and Sekisui Chemical.
In terms of geographical analysis, APAC will be the fastest growing region in the global market, by accounting for around 39% of the total market revenue by 2020. The growing consumption of laminated glass has augmented the demand for PVB resins in the construction sector. With many PVB production facilities shifting towards China, the region will witness positive growth over the forecast period.
“Manufacturers in the market are putting emphasis on developing new grades of PVB and are also working to improve the available grades. Such developments will help the PVB market to grow considerably in terms of consumption, application, scope, and industries. There are several innovations taking place in the market to develop premium-grade PVB in a sustainable way. Vendors are also coming up with new products for the current end-use industries, such as the automotive, construction, and photovoltaic sectors,” says Swapnil Tejveer Sharma, a lead analyst at Technavio for research on plastics, polymers, and elastomers.
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The new industry research report from Technavio analyzes some of the key drivers and trends responsible for the growth of this market and its sub-segments.
Rise in demand for PVB films and sheets in APAC
PVB films and sheets have extensive consumption in several end-use segments such as the automotive and construction sectors. APAC occupies the largest share in the consumption of PVB resins as compared with North America and Western Europe due to the growing automotive industry and rapid infrastructure development. There is a tremendous potential in the region for manufacturing companies. Key vendors, such as Eastman Chemicals and Kuraray, are investing in the high-growth application sectors such as in the automotive sector in the APAC region. The PVB films and sheets industry in China and Japan have remarkable growth opportunities for the global players. There are several international vendors like Sekisui Chemical and Chang Chun PetroChemical, which have a strong hold on the APAC market and offer PVB films and sheets to various industries, including automotive, and food and beverage.
Increase in investments in construction industry
At present, the global construction industry is witnessing huge growth and is anticipated to reach around $12 trillion during the forecast period. Several APAC nations such as Malaysia, Vietnam, and Singapore are making heavy investments in infrastructure development, leading to a huge surge in construction activities in these regions. Governments of these nations are focusing on the building materials consumed in these infrastructure projects that use PVB-laminated materials. PVB laminated glass is used in the construction of window panes. These glasses offer high tensile strength and flexibility to windows and prevent window panes from shattering. These PVB-laminated window panes also provide benefits like security, safety, and noise reduction. Rapid increase in the construction industry, especially in the MEA, is attracting several investors, which will positively influence the growth of PVB market in the coming years.
Increase in applications in automotive sector
PVB is used across several auto components such as windshields, rear and front view mirrors, windows, and dashboard displays. The automobile sector has witnessed impressive growth in the recent years which has created a robust demand for PVB-laminated glass in the premium vehicles due to its characteristics such as heat and noise reduction, durability, and chemical stability. Some of the leading car manufacturers such as Audi, BMW, and Daimler are using PVB resins in their vehicles for windshields and rear view mirror. With the constant increase in automotive production, there will be the substantial adoption of PVB resins across vehicles especially in windscreens, side windows, and sunroofs. These PVB-laminated structures reduce heat while preserving views, and enhance indoor air quality. The increase in the commercial use of PVB products by automobile manufacturers will be the major growth driver over the forecast period.
Some of the other prominent vendors identified in this report are Guangzhou Aojisi New Material, Huakai Plastic (Chongqing), and Huzhou Xinfu New Material.
This research report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. It provides a comprehensive analysis of the key companies, including their market shares, business overview, key financials, etc. The market study also offers a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global PVB Market 2016-2020‘. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Thermoformed Plastics Market 2016-2020
- Global Plastomers Market 2016-2020
- Polyvinyl Films (PVA) Market – Global Trends & Forecast 2015-2019
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