The polyvinyl butyral (PVB) market is expected to grow at a CAGR of 5.72%, reaching a market size of US$4.986 billion in 2030 from US$3.991 billion in 2025.
Rising demand from the automobile industry and the increasing photovoltaic industry are expected to drive the polyvinyl butyral market. The rise in the application of PVB films in the automotive sector is due to several properties, including high durability, heat and noise reduction, and surging consumer awareness regarding its ability to improve indoor air quality. Further, the demand for solar power energy is leading to the demand for the input raw materials for the development of photovoltaics. Moreover, the growth of green building and construction applications is also leading to the polyvinyl butyral market growth.
According to the German Electrical and Electronic Manufacturers' Association, Asia witnessed the largest share, 76%, of €3.82 trillion in the electronics market globally. America has a market of €515 billion and a 10% share. Europe has a market of €670 billion with a 13% market share.
The number of apartment building permits in building construction in Germany was 310,797 in 2022 and 219,119 in 2023.
Polyvinyl butyral (PVB) market drivers
Growing demand from photovoltaics
Polyvinyl butyral (PVB) is a well-known thermoplastic encapsulant. It is used in architecture for safety-glass laminates in the PV industry for building-integrated photovoltaics (BIPV) and thin-film technology with a glass-to-glass configuration. The growth of solar panels worldwide has been leading to the demand for polyvinyl butyral. The reasons for the growth are government policies, demand for cheap energy, and renewable energy demand. According to the IEA (International Energy Agency), in 2023, solar PV alone accounted for three-quarters of renewable capacity additions worldwide.
It was expected that solar PV and wind account for a record 96% of it because their generation costs are lower than for both fossil and non-fossil alternatives in most countries. In 2023, the Swiss government allocated CHF 600 million in subsidies to solar projects. The funding would be distributed as a one-time payment for small PV systems (KLEIV) to all system operators in 2023. These developments in solar power would lead to an increasing need for polyvinyl butyral in the manufacturing of photovoltaics.
Polyvinyl butyral (PVB) market geographical outlooks
The polyvinyl butyral market is segmented into five regions worldwide
By geography, the polyvinyl butyral market is segmented into North America, South America, Europe, the Middle East and Africa, and Asia Pacific. The major economies like China, Japan, India, and South Korea dominate the Asia-Pacific region. Some of the fastest-growing emerging economies are from this region, such as ASEAN countries.
The Asia Pacific region is expected to see the fastest growth in the polyvinyl butyral market due to increasing consumer electronics, automobiles, and infrastructure applications. According to the India Brand Equity Foundation, the Indian passenger car market is expected to reach a value of US$ 54.84 billion by 2027. In FY24, the country's total production of passenger vehicles, commercial vehicles, three-wheelers, two-wheelers, and quadricycles was 2,84,34,742 units. North America is expected to have a significant market share for polyvinyl butyral products due to its major utilization in architectural and building applications.
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Report Coverage:
- Historical data & forecasts from 2022 to 2029
- Growth Opportunities, Challenges, Supply Chain Outlook, Regulatory Framework, Customer Behaviour, and Trend Analysis
- Competitive Positioning, Strategies, and Market Share Analysis
- Revenue Growth and Forecast Assessment of segments and regions including countries
- Company Profiling (Strategies, Products, Financial Information, and Key Developments among others)
The polyvinyl butyral (PVB) market is segmented and analyzed as follows:
By Application
- Films & Sheet
- Paint & Coating
- Adhesive & Sealants
- Printing Inks
- Others
By End-user
- Automotive
- Building & Construction
- Electrical & Electronics
- Others
By Geography
- North America
- USA
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Rest of South America
- Europe
- United Kingdom
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Middle East and Africa
- Saudi Arabia
- UAE
- Rest of the Middle East and Africa
- Asia Pacific
- China
- India
- Japan
- South Korea
- Taiwan
- Thailand
- Indonesia
- Rest of Asia-Pacific
Table of Contents
Companies Mentioned
- Eastman Chemical Company
- Chang Chun Petrochemical Co., Ltd.
- Sekisui Chemicals Co., Ltd.
- Kuraray Co., Ltd.
- Huakai Plastic Co., Ltd.
- Everlam
- Tiantai Kanglai Industrial Co., Ltd.
- Qingdao Haocheng Industrial Co., Ltd.
- Genau Manufacturing Company LLP
- WMC Glass
- Perry Chemical Corp
- Shark Solutions ApS
- Tridev Resins (India) Pvt. Ltd
Methodology
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