The PVDF Resin Market was valued at $2.2 billion in 2022 and is estimated to reach $4.5 billion by 2032, exhibiting a CAGR of 7.6% from 2023 to 2032.
Polyvinylidene fluoride (PVDF), also known as polyvinylidene difluoride, is an engineering plastic that belongs to the family of semi-crystalline fluoropolymers. It is a non-reactive fluoropolymer produced by the polymerization of vinylidene difluoride (VDF). PVDF is used in applications that involve high-temperature resistance, chemical resistance, strength, and purity toward acids, bases, solvents, and heat. Moreover, it is a key ingredient in high-end coatings for metal roofing in residential and commercial applications. PVDF membranes have the ability to immobilize proteins, owing to their affinity toward amino acids. Moreover, PVDF resins find extensive use as sheets, films, tubes, and coatings in various end-user industries such as chemical processing, oil & gas, construction, and electrical & electronics.
The rise in demand for PVDF resin from various end-use industries such as chemical processing, electrical & electronics, new energies, and construction are the key driving factors in the growth of the market. In addition, high-performance properties along with the rise in the adoption of PVDF resin are anticipated to fuel the market growth during the forecast period. PVDF resin has high demand in Europe, the U.S., and across emerging economies such as China and India. The PVDF resin has witnessed noticeable growth over the past few years. This trend is expected to continue during the forecast period, owing to an Increase in demand for lithium-ion batteries, photovoltaic films, coatings, and government support for R&D to find new commercial avenues.
PVDF is used in lithium-ion batteries primarily as a binder material in the electrode manufacturing process. PVDF is used in lithium-ion batteries primarily as a binder material in the electrode manufacturing process. The electrodes in lithium-ion batteries consist of active materials, such as lithium cobalt oxide (LiCoO2) for the positive electrode and graphite for the negative electrode. These active materials are mixed with PVDF resin and other additives to form a slurry. The PVDF resin acts as a binder, holding the active materials together and providing mechanical strength to the electrodes. It also helps improve the adhesion between the active materials and the current collector, which is typically made of copper or aluminum foil.
The PVDF binder ensures good electrical conductivity within the electrode and helps maintain structural integrity during the charge-discharge cycles of the battery. Furthermore, PVDF has good chemical compatibility with the electrolyte used in lithium-ion batteries, which typically consists of lithium salts dissolved in an organic solvent. PVDF's chemical resistance helps prevent the binder from degrading or reacting with the electrolyte, contributing to the long-term stability and performance of the battery.
The global PVDF resin market is segmented on the basis of the type of crystalline phase, application, end-use 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 segmented into pipes and fittings, films and sheets, coatings, membranes, wire and cable, Li-ion Batteries, and others
By end-use industry, the global PVDF resin market is categorized into chemical processing, electrical & electronics, construction, new energies, oil & gas, pharmaceuticals & biomedical, and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Polyvinylidene fluoride (PVDF), also known as polyvinylidene difluoride, is an engineering plastic that belongs to the family of semi-crystalline fluoropolymers. It is a non-reactive fluoropolymer produced by the polymerization of vinylidene difluoride (VDF). PVDF is used in applications that involve high-temperature resistance, chemical resistance, strength, and purity toward acids, bases, solvents, and heat. Moreover, it is a key ingredient in high-end coatings for metal roofing in residential and commercial applications. PVDF membranes have the ability to immobilize proteins, owing to their affinity toward amino acids. Moreover, PVDF resins find extensive use as sheets, films, tubes, and coatings in various end-user industries such as chemical processing, oil & gas, construction, and electrical & electronics.
The rise in demand for PVDF resin from various end-use industries such as chemical processing, electrical & electronics, new energies, and construction are the key driving factors in the growth of the market. In addition, high-performance properties along with the rise in the adoption of PVDF resin are anticipated to fuel the market growth during the forecast period. PVDF resin has high demand in Europe, the U.S., and across emerging economies such as China and India. The PVDF resin has witnessed noticeable growth over the past few years. This trend is expected to continue during the forecast period, owing to an Increase in demand for lithium-ion batteries, photovoltaic films, coatings, and government support for R&D to find new commercial avenues.
PVDF is used in lithium-ion batteries primarily as a binder material in the electrode manufacturing process. PVDF is used in lithium-ion batteries primarily as a binder material in the electrode manufacturing process. The electrodes in lithium-ion batteries consist of active materials, such as lithium cobalt oxide (LiCoO2) for the positive electrode and graphite for the negative electrode. These active materials are mixed with PVDF resin and other additives to form a slurry. The PVDF resin acts as a binder, holding the active materials together and providing mechanical strength to the electrodes. It also helps improve the adhesion between the active materials and the current collector, which is typically made of copper or aluminum foil.
The PVDF binder ensures good electrical conductivity within the electrode and helps maintain structural integrity during the charge-discharge cycles of the battery. Furthermore, PVDF has good chemical compatibility with the electrolyte used in lithium-ion batteries, which typically consists of lithium salts dissolved in an organic solvent. PVDF's chemical resistance helps prevent the binder from degrading or reacting with the electrolyte, contributing to the long-term stability and performance of the battery.
The global PVDF resin market is segmented on the basis of the type of crystalline phase, application, end-use 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 segmented into pipes and fittings, films and sheets, coatings, membranes, wire and cable, Li-ion Batteries, and others
By end-use industry, the global PVDF resin market is categorized into chemical processing, electrical & electronics, construction, new energies, oil & gas, pharmaceuticals & biomedical, and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the PVDF resin market analysis from 2022 to 2032 to identify the prevailing PVDF resin market opportunities.
- Market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
- An in-depth analysis of the PVDF resin market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report Includes the analysis of the regional as well as global pvdf resin market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
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
- 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
Key Market Players
- 3M Company
- Arkema
- DAIKIN INDUSTRIES LTD.
- Dongyue Group Limited
- Gujarat Fluorochemicals Limited
- KUREHA CORPORATION
- RTP company
- SABIC
- Shanghai Ofluorine Co. Limited
- Solvay
- Zhejiang Fotech International Co. Ltd
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: PVDF RESIN MARKET, BY TYPE OF CRYSTALLINE PHASE
CHAPTER 5: PVDF RESIN MARKET, BY APPLICATION
CHAPTER 6: PVDF RESIN MARKET, BY END-USER INDUSTRY
CHAPTER 7: PVDF RESIN MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to a new report, titled, 'PVDF Resin Market,' The pvdf resin market was valued at $2 billion in 2021, and is estimated to reach $4.2 billion by 2031, growing at a CAGR of 7.8% from 2022 to 2031.Polyvinylidene fluoride (PVDF), also known as polyvinylidene difluoride, is an engineering plastic that belongs to the family of semi-crystalline fluoropolymers. It is a non-reactive fluoropolymer produced by the polymerization of vinylidene difluoride (VDF). PVDF is used in applications that involve high-temperature resistance, chemical resistance, strength, and purity toward acids, bases, solvents, and heat. Moreover, it is a key ingredient in high-end coatings for metal roofing in residential and commercial applications. PVDF membranes have the ability to immobilize proteins, owing to their affinity toward amino acids. Moreover, PVDF resins find extensive use as sheets, films, tubes, and coatings in various end-user industries such as chemical processing, oil & gas, construction, and electrical & electronics.
The demand for PVDF resins in small- and medium-diameter pipes is expanding at a rapid rate due to the material's unique performance benefits over other materials, such as its ease of handling and installation, chemical resistance, and long service life. PVDF piping systems are environment-friendly, simple to install, resistant to chemicals, and economical.
They are utilized in chemical distribution systems that do not necessitate interaction with fluids or components in the pipe system. In addition, the excellent mechanical strength, and dielectric qualities of PVDF pipes make them a perfect material for the chemical processing and oil and gas industries. PVDF pipes and fittings are commonly used in pharmaceutical-grade water systems, acid distribution systems, chemical applications, UPW and HUPW (Hot) ultrapure water return loops in microelectronics, and ozone, steam, or hot water sanitization globally. Among others, they are utilized in the chemical processing, building, and construction, and oil & gas industries.
The increase in demand for PVDF resins in developing economies from Asia-Pacific, the rapid growth of the electronics industry, the rise in demand for purified water and industrial wastewater treatment, and the growth of end users are major drivers of this market. In 2021, Asia-Pacific occupied the highest market share in the global market and is expected to be the fastest-growing region in the future. This is attributed to the rapid growth of end-user industries such as electronics, electric vehicles, energy storage, and the renewable energy industry as well as the rise in investments in the enhancement of the wastewater treatment industry. However, environmental & health concerns and the volatility of prices of raw materials 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.
The need for PVDF pipes and fittings is driven by the rising demand in developing countries, particularly in developing nations that do not engage in chemical processing, such as ASEAN nations and parts of Africa and South America. The largest consumer of PVDF pipes and fittings is the chemical processing industry, where it is used for distribution systems. In addition, the growth of commercial and residential buildings, as well as the increase in infrastructure development, is expected to stimulate the growth of the industry considered in the near future. All these factors are anticipated to drive the demand for pipes and fittings and propel the PVDF resin market during the forecast period.
The PVDF resin has witnessed noticeable growth over the past few years. This trend is expected to continue during the forecast period, owing to an increase in demand for lithium-ion batteries, photovoltaic films, and coatings, as well as government support for R&D to find new commercial avenues. PVDF resin has high demand in Europe, the U.S., and across emerging economies such as China, India, and others. The global PVDF resin market is segmented on the basis of the type of crystalline phase, applications, end-use industry, and region. Depending on the type of crystalline phase, the market is divided into alpha, beta, gamma, and delta. On the basis of application, the PVDF resin market is segmented into resin and filament.
Based on the end-use industry, the global PVDF resin market is segmented into chemical processing, electrical & electronics, construction, new energies, oil & gas, pharmaceuticals & biomedical, and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key findings of the study
- On the basis of the type of crystalline phase, the alpha phase segment is expected to grow at a CAGR of 7.9% in terms of revenue during the forecast period.
- Depending on the application, the wire and cable segment is expected to grow at a CAGR of 8.0% in terms of revenue during the forecast period.
- Depending on the end-use industry, the electrical and electronics segment is expected to grow at a CAGR of 8.1% in terms of revenue during the forecast period.
- Region-wise North America garnered more than 25% share in 2021, in terms of revenue.
Companies Mentioned
- 3M Company
- Arkema
- DAIKIN INDUSTRIES LTD.
- Dongyue Group Limited
- Gujarat Fluorochemicals Limited
- KUREHA CORPORATION
- RTP company
- SABIC
- Shanghai Ofluorine Co. Limited
- Solvay
- Zhejiang Fotech International Co. Ltd
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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