The new report by Expert Market Research titled, Global PVDF Resin Market Share, Report and Forecast 2023-2028’, gives an in-depth analysis of global PVDF resin market assessing the market based on type, end-use, applications and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
PVDF Resin Market Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
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The key highlights of the report include:
Market Overview (2023-2028)
• Historical Market Size (2022): USD 0.96 Billion
• Forecast CAGR (2023-2028): 7.60%
• Forecast Market Size (2028): USD 1.49 Billion
|Market Size in 2022||USD 0.96 Billion|
|Revenue Forecast in 2028||USD 1.49 Billion|
|Growth Rate CAGR||7.60%|
|Major Players||Kureha Corporation, RTP Company, Inc., Arkema S.A., Shanghai Ofluorine Co. Limited,|
3M Company, Solvay SA, Zhejiang Fotech International Co. Ltd., Daikin Industries, Ltd.,
Zhuzhou Hongda Polymer Materials Co., Ltd, Shanghai Huayi 3F New Materials Co. Ltd., among others.
The expansion of the business is being driven by the expanding usage of PVDF resins in the chemical industry due to their high mechanical strength and resistance to corrosion. Due to their strength and durability, PVDF resins are perfect for increasing the toughness of chemicals, which significantly contributes to the market’s expansion. Additionally, adding various additives to PVDF resins improves their physical, chemical, and mechanical qualities, which in turn increases demand for them in end-use industries and spurs market expansion.
The desire for lithium-ion batteries with high energy output is growing in response to the increased demand for electric vehicles in both developed and developing nations. PVDF resins are preferred in electric vehicles, particularly cars, as they improve the performance of lithium-ion batteries leading to the growth of the market. In addition, the use of PVDF resins in lithium-ion batteries results in improved safety, high battery density, and great power output to enable high voltage for the effective operation of electric vehicles, further boosting the market growth.
PVDF Resin Industry Definition and Major Segments
PVDF resin, also known as polyvinylidene fluoride (PVDF) resin, is a thermoplastic with outstanding mechanical properties and thermal stability. It is a multipurpose thermoplastic that is largely utilised in the construction industry to create sheets, coatings, and pipes. Additionally, it has uses in the energy, electronics, oil and gas, chemical processing, and other industries.
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The major types of PVDF resin are:
The market can be broadly categorised on the basis of its end-use industries into:
• Chemical processing
• Electrical and Electronics
• Oil and Gas
• New Energies
• Pharmaceuticals and Biomedical
Based on applications, the market is divided into:
The regional markets for the product include
• North America
• Asia Pacific
• Latin America
• The Middle East and Africa
PVDF Resin Market Trends
The market is expanding as a result of the expanding use of PVDF resins in the electronics sector to prevent the formation or conduction of static electricity. Due to their high electroactive responsiveness, PVDF resins are being used more frequently to create sensors, capacitors, and actuators, among other things, which is boosting the market’s expansion. The market is expanding as a result of the rising demand for PVDF resins used in the electronics industry to bind the cathodes and anodes of lithium-ion batteries.
PVDF is used to improve insulation and data communications and due to the growing demand for high-end and diverse applications in electronic devices, it is fostering industry growth. Additionally, the trend toward automating electronic devices is driving up the need for PVDF resin in automation equipment and supporting the market’s expansion. The PVDF resin’s outstanding electromechanical capabilities are expanding its use in robotics and biomedical engineering applications including pumps and microvalves, which is expected to further support industry growth.
Key Market Players
The major players in the global PVDF resin market are :
- Kureha Corporation
- RTP Company, Inc.
- Arkema S.A.
- Shanghai Ofluorine Co. Limited
- 3M Company
- Solvay SA
- Zhejiang Fotech International Co. Ltd.
- Daikin Industries, Ltd.
- Zhuzhou Hongda Polymer Materials Co., Ltd
- Shanghai Huayi 3F New Materials Co. Ltd.
The report covers the market shares, capacities, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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