Polyvinyl butyral (PVB) is a synthetic Resin formed by condensation of Polyvinyl Alcohol and butyraldehyde. It is usually used as a film interlayer in laminated glass to provide safety, security and sound insulation effects for glass. Due to the increasing demand for laminated glass in the automotive and construction industries, the global PVB market has been growing steadily. It is expected that the market will continue to grow significantly in the coming years.
In 2020, the global PVB market will be worth US $3.3 billion, and is expected to reach US $4.6 billion by 2025, with a CAGR of 6.8% from 2020 to 2025. The increasing demand of automobiles for laminated glass is driving the growth of the PVB market. Due to the safety and security characteristics of laminated glass, the use of laminated glass in vehicle windscreens and windows is increasing. The construction industry is also an important consumer of PVB, because laminated glass is used to build high-rise buildings, facades and skylights.
China is the world's largest producer and consumer of PVB. In 2020, the market value of PVB in China will be 1.02 billion US dollars, which is expected to reach 1.41 billion US dollars by 2026, with a compound annual growth rate of 5.2% from 2020 to 2026. The automotive and construction industries are driving the growth of China's PVB market.
The Chinese government's initiative to promote the use of energy-saving and environmentally friendly materials in buildings has also driven the growth of the PVB market. The government's policies and regulations on energy conservation and emission reduction are expected to increase the demand for laminated glass in the construction industry, thus promoting the growth of China's PVB market.
In conclusion, due to the increasing demand for laminated glass in the automotive and construction industries, the global PVB market is expected to grow at a significant rate in the coming years. China is the world's largest producer and consumer of PVB. The growth of China's PVB market is due to the growing demand for laminated glass in the automotive and construction industries and the government's promotion of the use of energy-saving and environmentally friendly materials in buildings.
