The North America Polyvinyl Butyral (PVB) Market would witness market growth of 5.6% CAGR during the forecast period (2024-2031). In the year 2020, the North America market's volume surged to 1,00,419.4 tonnes, showcasing a growth of 23.6% (2020-2023).
Polyvinyl Butyral (PVB) finds extensive application in the production of films and sheets due to its versatile properties and benefits. In the automotive industry, PVB films are crucial components in laminated safety glass for windshields and windows, offering exceptional strength, impact resistance, and clarity. Architectural applications utilize PVB films in safety glazing for buildings, providing protection against breakage and enhancing sound insulation properties. Thus, the US market utilized 89,276.3 tonnes of this chemical in films and sheets in 2023.
The US market dominated the North America Polyvinyl Butyral (PVB) Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $1,249.5 million by 2031. The Canada market is experiencing a CAGR of 7.9% during (2024 - 2031). Additionally, The Mexico market would exhibit a a CAGR of 7% during (2024 - 2031).
The primary use of laminated safety glass in the automotive sector is for windshields. PVB interlayers provide impact resistance, holding shattered glass together during accidents, thus enhancing passenger safety. Increasingly, laminated safety glass is also used for side and rear windows to improve overall vehicle safety, sound insulation, and UV protection. In buildings, laminated safety glass is used for windows and facades to enhance safety, security, and aesthetics.
Moreover, laminated safety glass is used in balustrades and railings in buildings to provide safety without compromising visibility and design aesthetics. The PVB interlayer ensures the glass stays intact even if broken. Laminated safety glass with PVB interlayers is used in environments with critical sound insulation, such as urban buildings and vehicles.
The growth of the electronics manufacturing industry in Mexico leads to increased demand for PVB-based materials used in electronic components such as solar cells, LEDs (Light Emitting Diodes), and semiconductor devices. PVB enhances the safety and reliability of electronic devices by protecting Mexico from moisture, mechanical stress, and environmental factors. Manufacturers in the electronics and electrical industry prioritize using materials that ensure their products' safety, reliability, and longevity, driving the demand for PVB-based materials in Mexico. Hence, the factors mentioned above will drive the regional market growth.
Free Valuable Insights: The Polyvinyl Butyral (PVB) Market is Predict to reach USD 6.0 Billion by 2031, at a CAGR of 6.3%
Based on Application, the market is segmented into Films & Sheets, Paint & Coatings, Adhesives, and Others. Based on End-use, the market is segmented into Automotive, Construction, Electronics & Electricals, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
By Application (Volume, Tonnes, USD Billion, 2020-2031)
By End-use (Volume, Tonnes, USD Billion, 2020-2031)
By Country (Volume, Tonnes, USD Billion, 2020-2031)
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