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2022
Pvdf Resin Market

PVDF Resin Market

by Type of Crystalline Phase (Alpha, Beta, Gamma, and Delta), Application (Pipes and Fittings, Films and Sheets, Coatings, Membranes, Wire and Cable, Li-ion Batteries and Others), and End-user Industry (Chemical Processing, Electrical & Electronics, Building and Construction, Oil & Gas, Automotive and Others): Global Opportunity Analysis and Industry Forecast, 2021-2030

✷  Report Code: A01412
Pages: 374
Feb 2022 | 15755 Views
Author(s) : Amit N , Eswara P
Tables: 239
Charts: 77
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COVID-19

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The PVDF resin market size was valued at $1.0 billion in 2020, and is projected to reach $2.6 billion by 2030, growing at a CAGR of 8.2% from 2021 to 2030.

Statement for COVID-19 banner: PVDF resin demand was temporarily slow owing to halted manufacturing activities of end-user industry such as building and construction, oil and gas, and others.

Polyvinylidene fluoride (PVDF) is a type of thermoplastic fluoropolymer, which possess high inertness and stability. It is formed from polymerization of vinylidene difluoride. PVDF resins are used for easy processing in the molding, extrusion, and compounding as thermostatic polymer. Furthermore, it is used as powder to make solutions, and additives. It has high chemical resistance toward chlorine, bromine, iodine, and other acids at high temperature. It is available as piping products, sheet, tubing, films, plate, and an insulator for premium wire. It can be injected, molded, or welded and is commonly used in the chemical, semiconductor, medical, and defense industries, as well as in lithium-ion batteries. In addition, it is available as a cross-linked closed-cell foam, used increasingly in aviation and aerospace applications.

One of the key factors driving the PVDF market is the increase in use of PVDF resins in the aerospace and military industries to protect equipment from chemical, vibration, shock, and moisture. Furthermore, PVDF resins are employed as a binder in the production of lithium-ion batteries all across the globe. This, together with increase in demand for PVDF resins for easy compounding and molding, is propelling the market. In addition, due to its negligible weight, flexibility, and poor heat conductivity, it is employed in wires and cables. These cables are used in satellites, aircraft, commercial & military electronics, and offshore sites. Furthermore, increase in electronics industry has a significant impact on the market, evidenced by rise in sales of smartphones, portable computer devices, and gaming systems. Furthermore, increase in investment in renewable energy sector by various governments like India and China drive the demand for PVDF resin. 

However, environmental & health concerns coupled with volatile raw material prices and high threat of substitutes are expected to hamper the growth of the market. Presently, the global PVDF resin market is witnessing vivid opportunities due to increase in investment in the renewable energy sector and key growth opportunities for PVDF resin from various end-use industries.

The PVDF resin market is segmented into type of crystalline phase, application, end-user industry, and region. Depending on type of crystalline phase, the market is segmented into alpha, beta, gamma, and delta. On the basis of application, the PVDF resin market is divided into pipes and fittings, films and sheets, coatings, membranes, wire and cable, Li-ion Batteries and others. Based on the end-user industry, the PVDF resin market is categorized into chemical processing, electrical & electronics, building and construction, oil & gas, automotive, others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The PVDF resin market share is analyzed across all significant regions and countries. 

The key players operating in the PVDF resin market are Arkema S.A., Daikin Industries, Ltd., Kureha Corporation, RTP Company, Inc., Shanghai Huayi 3F New Materials Co., Ltd., Shanghai Ofluorine Co., Limited, Solvay SA, 3M, Zhejiang Fotech International Co., Ltd., and Zhuzhou Hongda Polymer Materials Co., Ltd. Other players operating in the PVDF resin market are Agiplast, SKC, Sinochem Lantian, and Dongyue Group.

PVDF Resin Market, by Type of Crystalline Phase

By type of crystalline phase, the alpha phase of PVDF resin held the largest market share in the year 2020, owing to increase in demand for electrical & electronics, chemical processing, and other industries. In addition, advantages of PVDF resins, including ease of processing, non-polar conformation, insulation, excellent chemical resistance, low weight, and high mechanical strength are anticipated to drive the demand for PVDF resins.

PVDF Resin Market
By Type Of Crystalline Phase

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Beta is projected as the most lucrative segment.

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PVDF Resin Market, by Application

On the basis of application, the Li-ion batteries segment dominated the global PVDF resin market in 2020, in terms of share, owing to increase in demand for resins from automotive industry as there is increased demand for Li-ion batteries for electronic vehicles.

PVDF Resin Market
By Application

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Li-ion is projected as the most lucrative segment.

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PVDF Resin Market, by End-user Industry

On the basis of end-user industry, the chemical processing segment dominated the global PVDF resin market in 2020, in terms of share, owing to the increase in utilization of PVDF resins in chemical processing components. Furthermore, the increasing demand for PVDF resin from automotive industry is boosting the market growth. This is attributed to increased demand for PVDF resin from lithium-ion battery application.

PVDF Resin Market
By End-user Industry

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Automotive is projected as the most lucrative segment.

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PVDF Resin Market, by region

Asia-Pacific garnered the highest share in the PVDF resin market in 2020, in terms of revenue, and is anticipated to maintain its dominance throughout the forecast period. This is attributed to the presence of key players and huge consumer base in the region. In addition, rise in demand for developing construction industry in the countries such as China and India increase the demand for PVDF resin. This factor drives the growth of the PVDF resin market during the forecast period.

PVDF Resin Market
By Region

2030
Asia-pacific 
North America
Europe
Lamea

Asia-Pacific holds a dominant position in 2020 and it is expected to grow at considerable growth rate during the forecast period.

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COVID-19 Impact on the Market

  • The COVID-19 outbreak impacted the PVDF resin market negatively. The market witnessed a sharp decline in demand for PVDF resins from end-user industry, including automobile, electrical & electronics, and defense industries.
  • Due to the lockdown and shutdown of production factories, the COVID-19 pandemic had negative impact on market demand. According to the International Organization of Motor Vehicle Manufacturers (OICA), vehicle manufacturing declined by roughly 16% in 2020, owing primarily to COVID-19.
  • In the last ten years, 2020 was the worst year for aircraft manufacturing. Due to corporate losses, a number of new aircraft orders have been cancelled or postponed. More than 600 Boeing jetliners were cancelled by customers in 2020. In addition, Airbus had a similar setback in 2020, with 566 planes delivered, declined by 34% compared to 2019.
  • Furthermore, the disturbance in the supply chain resulted in a lack of raw materials, limiting the expansion of the worldwide PVDF resin market.
  • Nonetheless, the industry is expected to rebound quickly, as several government authorities in different locations have given relaxations, allowing businesses to resume operations.

Key Benefits For Stakeholders

  • The report includes in-depth analysis of different segments and provides market estimations between 2021 and 2030.
  • A comprehensive analysis of the factors that drive and restrict the growth of the PVDF resin market is provided.
  • Porter’s five forces model illustrates the potency of buyers & sellers, which is estimated to assist the market players to adopt effective strategies.
  • Estimations and forecast are based on factors impacting the PVDF resin market growth, in terms of value.
  • The PVDF resin market size is provided in terms of volume and revenue.
  • Key market players are profiled to gain an understanding of the strategies adopted by them.
  • This report provides a detailed analysis of the current PVDF resin market trends and future estimations from 2021 to 2030, which helps to identify the prevailing market opportunities.

PVDF Resin Market Report Highlights

Aspects Details
By Type of Crystalline Phase
  • Alpha
  • Beta
  • Gamma
  • Delta
By Application
  • Pipes and Fittings
  • Films and Sheets
  • Coatings
  • Membranes
  • Wire and Cable
  • Li-ion Batteries
  • Others
By End-user industry
  • Chemical Processing Industry
  • Electrical and Electronics
  • Building and Construction
  • Oil and Gas
  • Automotive
  • Others
By Region
  • North America  (The U.S., Canada, Mexico)
  • Europe  (Germany, France, Italy, UK, Spain, Rest of Europe)
  • Asia-Pacific  (China, India, Japan, South Korea, Australia, Rest of Asia Pacific)
  • LAMEA  (Brazil, South Africa, Saudi Arabia, Rest of LAMEA)
 

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According to the perspectives of the CXOs of leading companies in the PVDF resin market, increase in demand for PVDF resins in developing economies such as Asia-Pacific, rapid growth of the electronics industry, rise in demand for purified water & industrial waste water treatment, and growth of end users are major drivers of this market. In 2020, Asia-Pacific occupied the highest market share in the global market, and is expected to be the fastest growing region during the forecast period. However, COVID-19 pandemic has halted the market growth due to the lockdown imposed by various governments, but soon PVDF resin market will recover owing to the government incentives and various steps taken by manufacturer to tackle the pandemic situation.

This is attributed to rapid growth of end-user industries such as electronics, electric vehicles, energy storage, and renewable energy industry, as well as rise in investments in the enhancement of the wastewater treatment industry. However, environmental & health concerns and volatility of raw material prices pose threat to the growth of the global PVDF resin market.

China emerged as the global leader in the PVDF resin market both in terms of volume and value. This is attributed to  numerous factors such as manufacturing facilities, R&D infrastructure, and key players in the region. However, the market in India is expected to grow at a rapid rate in the near future.

 

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FREQUENTLY ASKED QUESTIONS?

A. Increased demand for LI-ion batteries is one of the factors boosting the PVDF resin market growth.

A. The global PVDF resin market size was valued at $1.0 billion in 2020, and is projected to reach $2.6 billion by 2030, growing at a CAGR of 8.2% from 2021 to 2030.

A. • Solvay • 3M • Kureha Corporation • Dongyue Group • Arkema S.A.

A. The demand for PVDF is increasing owing to increase in demand for electric vehicle which is consequently increasing the demand for lithium-ion battery. As it is used as binders.

A. By Type of Crystalline Phase • Alpha • Beta • Gamma • Delta • By Application • Pipes and Fittings • Films and Sheets • Coatings • Membranes • Wire and Cable • Li-ion Batteries • Others • By End-use Industry • Chemical Processing • Electrical & Electronics • Construction • New Energies • Oil & Gas • Pharmaceuticals & Biomedical • Others

A. Increased demand from various end-use industry like electronics, automotive, chemical processing is the main driver of PVDF resin market

A. Li-ion batteries application of PVDF resin is expected to drive the adoption of PVDF resin market, owing to increase in demand for resins from automotive industry as there is increased demand for Li-ion batteries for electronic vehicles.

A. COVID-19 had negatively affected the PVDF resin market as many of end-user industry for PVDF resin saw decline in the manufacturing activities. According to the International Organization of Motor Vehicle Manufacturers (OICA), vehicle manufacturing declined by roughly 16% in 2020, owing primarily to COVID-19.

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