by Polyvinylidene fluoride (PVDF) is a high performance plastic used in various industries such as oil & gas, chemical processing, electrical & electronics, and others. PVDF is known for its outstanding mechanical, chemical, and thermal stability properties. In the electrical & electronics sector, PVDF finds wide usage as separator films and binders in the manufacturing of lithium-ion batteries. With lithium-ion batteries witnessing strong demand from the expanding electric vehicles industry, the consumption of PVDF is expected to increase significantly in battery separator manufacturing.
The global Polyvinylidene Fluoride Market is estimated to be valued at US$ 1541.69 million in 2024 and is expected to exhibit a CAGR of 4.0% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The rapidly growing electric vehicles industry is one of the major drivers of the PVDF market. Since lithium-ion batteries are the preferred energy storage technology used in electric vehicles, demand for battery separators made using PVDF is rising exponentially. According to the International Energy Agency’s Global Electric Vehicle Outlook 2020 report, the global stock of electric passenger cars crossed 7 million in 2019 and is projected to reach 145 million by 2030. This expanding e-mobility sector will continue to drive volume growth opportunities for PVDF manufacturers over the forecast period.
In addition, PVDF exhibits excellent resistance to acids, alkalis, oxidizing agents and atmospheric conditions, making it suitable for usage in membrane manufacturing, chemical processing equipment and coatings for wire and cables. The strong demand from these downstream industries will further contribute to the revenue generation of PVDF vendors. Leading market players are focusing on capacity expansions to cater to this growing market demand.
Segment Analysis
The global polyvinylidene fluoride market is dominated by the piezoelectric polymer segment. PVDF can generate electric charge when subjected to mechanical stress, and is widely used as a piezoelectric material for applications such as sensors and transducers. It exhibits excellent piezoelectric properties such as high sensitivity, broad temperature range, and superior chemical resistance. These benefits have led to its increased demand over other segments.
PEST Analysis
Political: The market is positively impacted by government support toward research and development of advanced materials. Strict regulations regarding greenhouse gas emissions are also driving demand for PVDF gloves used in semiconductor and solar industries.
Economic: Growth of end-use industries such as automotive, electronics, chemicals is augmenting the polyvinylidene fluoride market size. Developing nations are major consumer markets due to rapid industrialization.
Social: Rising awareness about benefits of PVDF such as lightweight, durability and resistance to chemicals is influencing its adoption. Safety and environmental concern also drives usage of PVDF gloves in industries.
Technological: Advancements in polymer engineering is helping develop superior grades of PVDF with higher resistance and piezoelectric characteristics. New production method enables fabrication of thin-film PVDF for specialized applications.
Key Takeaways
The global polyvinylidene fluoride market is expected to witness high growth on account of robust demand from end-use industries globally. The global Polyvinylidene Fluoride Market is estimated to be valued at US$ 1541.69 million in 2024 and is expected to exhibit a CAGR of 4.0% over the forecast period 2024 to 2031.
Regional analysis comprises:
The Asia Pacific region is projected to dominate the global polyvinylidene fluoride market by 2031 owing to presence of a robust industrial sector and rapidly growing end-use industries such as automotive, semiconductor and electronics in the region. China accounts for over half of global PVDF demand and will continue its dominance over the forecast period.
Key players :
Key players operating in the polyvinylidene fluoride market are Arkema, Solvay, Daikin Industries, Dyneon, Kureha Corporation, 3M, Shanghai 3F New Materials Company, Zhejiang Fotech International, Derbyshire Plastics, Kureha America. Arkema and Solvay capture over two-fifths of the global market share due to their extensive product portfolio and global sales network.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
