The Global Polyvinylidene Fluoride Market is estimated to be valued at US$ 1338.27 Mn or Billion in 2023 and is expected to exhibit a CAGR of 6.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Polyvinylidene fluoride is a specialty plastic material used in various end use industries owing to its superior properties like non-corrosiveness, thermally stability, chemical inertness and piezoelectric behavior. It is majorly used in membranes, wiring & cables, coatings and films due to its durability and resistance to harsh environments.
Market key trends:
One of the key trends in the polyvinylidene fluoride market is the growing demand for membrane segment. Membranes made from PVDF exhibit great mechanical strength, flexibility and chemical resistance. They have hydrophobic properties which makes them suitable for water filtration and treatment applications. They are used in microfiltration, ultrafiltration and reverse osmosis processes. Rising industrialization and increasing investments in water infrastructure are expected to drive the demand for PVDF membranes over the forecast period.PVDF membranes are gaining increasing popularity over other membranes for water and wastewater treatment due to their superior performance, longer lifespan and competitive pricing.
Segment Analysis
One of the key trends in the polyvinylidene fluoride market is the increasing use of PVDF in wire and cable coatings. PVDF exhibits excellent chemical and thermal resistance making it ideal for wire and cable applications. It provides protection from corrosion, abrasion and impacts. With growth in construction and infrastructure development activities across the world, demand for wires and cables is increasing steadily, which is driving the demand for PVDF in this application segment.
SWOT Analysis
Strength: PVDF has high corrosion and scratch resistance making it suitable for use in harsh and demanding conditions. It also has high thermal stability and weatherability.
Weakness: PVDF is more expensive than other fluoropolymers like PTFE limiting its use in cost-sensitive applications.
Opportunity: Growing membrane technology market is creating opportunities for PVDF. It is increasingly used in filtration membranes used in microfiltration and ultrafiltration processes. Rising demand for lithium ion batteries is also boosting the demand for PVDF used as separator material in batteries.
Threats: Fluctuations in raw material prices can impact the cost of PVDF. Stringent environmental regulations regarding disposal of PVDF pose a threat.
Key Takeaways
The Global Polyvinylidene Fluoride Market is expected to witness high growth, exhibiting CAGR of 6.0% over the forecast period, due to increasing use of PVDF in lithium ion batteries. Demand for high-performance rechargeable batteries from various end-use industries is driving the demand for PVDF as separator material in batteries.
Regional analysis: Asia Pacific dominates the global PVDF market and the region is expected to witness fastest growth during the forecast period. Abundant availability of raw materials and growing membrane technology market in countries like China, India, and Japan is driving the PVDF market in the region.
Key players operating in the polyvinylidene fluoride market are Arkema, Solvay S.A., Daikin Industries ltd, Zhuzhou Hongda Polymer Materials Co. Ltd., Shanghai 3F New Materials Company Limited, Kureha Corporation, Quadrant Engineering Plastics Products, Shanghai Ofluorine Chemical Technology Co. ltd., Dyneon GmbH, and Zhejiang Fotech International Co. Ltd.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author - Vaagisha Singh
Vaagisha brings over three years of expertise as a content editor in the market research domain. Originally a creative writer, she discovered her passion for editing, combining her flair for writing with a meticulous eye for detail. Her ability to craft and refine compelling content makes her an invaluable asset in delivering polished and engaging write-ups. LinkedIn