Polyvinylidene Fluoride (PVDF) Resin Market Report, published by Allied Market Research, was valued at $901 million in 2015, and is expected to garner $1,490 million by 2022, registering a CAGR of 7.5% during the period 2016 - 2022.Alpha-phase is the leading market segment and projected to generate the highest revenue throughout the forecast period. In the year 2015, North America led the global market and is expected to maintain its position throughout the study period. However, the Asia-Pacific region is expected to witness highest growth over the forecast period.
The industry players made significant investments on new commercial avenues for their product segments via strategic partnerships & collaborations. Governmental funding towards extensive research and development activities coupled with an increasing support for application of PVDF resin. There is a rise in demand for PVDF resin from various end-user industries and an increase in application scope owing to its superior properties. Also, the shift towards manufacturing and application of beta-phase is expected to drive the demand for PVDF resin over the forecast period. However, a growing threat of substitution and growing concerns over environmental and health impact of PVDF resin could hamper the market growth during the forecast period.
In the year 2015, chemical processing segment was the largest end-user industry, with around one-third value share of PVDF resin market, followed by construction, oil & gas, new energies, electrical & electronics and pharmaceuticals segment. The extraordinary physio-chemical properties of PVDF resin, such as piezoelectric, mechanical, and chemical & U.V resistance properties have increased its penetration in a wide array of application, as it results in improved performance of the end product.
Key Findings of the PVDF Resin Market
- Beta-phase segment is expected to witness highest CAGR of 8.1% during the forecast period.
- Chemical processing and construction segment together accounted for more than half of the market share in 2015.
- New energies segment is expected to register highest growth over the forecast period.
- Asia-Pacific is anticipated to lead the market throughout 2022, growing at a CAGR of 8.3%, in value terms.
- In 2015, U.S. and China led the world demand in the PVDF resin market.
In 2015, North America and Asia-Pacific collectively accounted for nearly two-thirds of the worldwide demand for PVDF resin and are expected to maintain their lead position throughout the forecast period. However, Asia-Pacific is projected to be the fastest growing region, followed by Europe, LAMEA and North America.
The report provides comprehensive analysis of the key players that operate in the world PVDF resin market such as Arkema S.A., Daikin Industries, Ltd., Dyneon GmbH & Co. KG, Kureha Corporation, Solvay S.A., Shanghai 3F New Material Co., Ltd., Shanghai Ofluorine Chemical Technology Co., Ltd., Zhejiang Fotech International Co., Ltd., Zhuzhou Hongda Polymer Materials Co., Ltd., and RTP Company, Inc. These players occupy a major share in the world PVDF resin market followed by other tier 2 and tier 3 players worldwide.