The latest report by IMARC Group, titled “PVDF Resin Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” finds that the global PVDF resin market size reached US$ 880.7 Million in 2021. Polyvinylidene fluoride (PVDF) is a thermoplastic fluoropolymer with high inertness and stability. It is manufactured from vinylidene difluoride (VDF) polymerization and offers surface hardness, high tensile strength, and resistance against heat, chemicals, abrasion, flame and ultraviolet (UV) light. It is generally used as coatings on metal roofs, garage doors, and wall panels and to produce piping products, sheets, tubes, films, and plates. PVDF resin can be injected, molded, or welded and is also available as a cross-linked closed-cell foam. As a result, it finds extensive applications in the automotive and transportation, agriculture, packaging, aerospace and defense, oil and gas, pharmaceutical, and chemical industries.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global PVDF Resin Market Trends:
The market is primarily driven by the rising application of PVDF resins in the aerospace and defense industries to protect equipment from shock, moisture, vibration, and chemicals. In addition, the escalating product demand for easy processing in molding, extrusion and compounding represents another major growth-inducing factor. Besides this, PVDF resins are widely used as a binder in lithium-ion batteries. They are also employed in wires and cables due to their lightweight, flexibility, and low thermal conductivity. This, coupled with the expanding electronics industry on account of the rising sales of portable computing devices, smartphones, and gaming systems, is creating a positive market outlook across the globe. Furthermore, the increasing investments in the renewable energy sector by governments of various countries, the rising product adoption in the construction industry, and various technological advancements are some of the other factors propelling the market growth. Looking forward, IMARC Group expects the market value to reach US$ 1,285.0 Million by 2027, expanding at a CAGR of 6.20% during the forecast period (2022-2027).
- Based on the type, the market has been bifurcated into PVDF granule and powder.
- On the basis of the type of crystalline phase, the market has been segmented into alpha, beta, gamma, and delta.
- Based on the application, the market has been classified into coating, injection and extrusion products, lithium-ion battery binders, photovoltaic film, water treatment membranes, and filament.
- On the basis of the end use industry, the market has been categorized into chemical processing, electrical and electronics, construction, new energies, oil and gas, pharmaceutical and biomedical, and others.
- Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has also been examined, with some of the key players being 3M Company, AGC Chemicals (AGC Inc.), Akzo Nobel N.V., Arkema S.A, Daikin Industries Ltd., Dongyue Group, Kureha Corporation, PPG Industries Inc., Sinochem Lantian Co. Ltd., Solvay S.A, The Sherwin-Williams Company, and Zhejiang Fotech International Co. Ltd.
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