Asia Pacific was the largest market for PVB films and sheets. Growth in the region is ascribed to the rising demand from ground transportation industry. In terms of volume, Asia Pacific contributed for more than 35% share of the global PVB films and sheets market. Solar energy is anticipated to be the fastest growing end-user segment of the PVB films and sheets market during the forecast period. Demand for PVB films and sheets in the region is estimated to be primarily driven by rapid upsurge in the consumption of PVB films and sheets in China, India, and ASEAN countries. Growth in the ground transportation industry is projected to drive demand for PVB films and sheets in Asia Pacific in the next few years. The PVB films and sheets market in North America and Europe is projected to witness accountable growth due to recovery from the economic slowdown. The PVB films and sheets market in Latin America and Middle East & Africa is anticipated to grow considerably in the next eight years, largely due to growth in ground transportation, and building & construction end-user industries.
The global PVB films and sheets market is predominantly driven by increasing demand in the ground transportation end-user industry. However, factors such as difficulty in handing, high cost of storage, and low shelf life of PVB films and sheets, and availability of application specific substitutes are projected to hinder the growth of the PVB films and sheets market. Emergence of the photovoltaic industry is expected to act as an opportunity for the PVB films and sheets market in the next eight years.