Hyderabad, July 05, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled “Polyvinylidene Fluoride (PVDF) Market Report (2023-2028),” the market is estimated at 67.21 metric kilotons in 2023. It is expected to register a CAGR of 17.73% during the forecast period.
Although the COVID-19 pandemic in 2020 damaged the market, it is now showing positive growth. The factors driving the studied market are the advantageous PVDF properties compared to other fluoropolymers, snowballing demand for PVDF-based materials from the electrical and electronics sector, and growing demand for PVDF resins in lithium-ion battery manufacturing.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | 67.21 metric kilotons |
| Market Size (2028) | 152 metric kilotons |
| CAGR (2023-2028) | 17.73% |
| Largest Market | Asia-Pacific |
| Fastest Growing Market | Asia-Pacific |
| Study Period | 2018-2028 |
| Forecast Units | Value (metric kilotons) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | Advantageous PVDF properties compared to other fluoropolymers. |
| Growing demand for PVDF resins in lithium-ion battery manufacturing. |
Who are the Top Companies in the Polyvinylidene Fluoride (PVDF) Market?
The PVDF market is highly consolidated.
The significant players holding the majority share of the polyvinylidene fluoride market in 2023 are:
- 3M
- Arkema
- Daikin Industries Ltd
- Dongyue Group
- Gujarat Fluorochemicals Limited
- Kureha Corporation
- Lichang Technology (Ganzhou) Co. Ltd
- RTP Company
- Shanghai Huayi 3F New Materials Co. Ltd
- Shanghai Ofluorine Co. Limited
- Solvay
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Key Highlights from the Polyvinylidene Fluoride (PVDF) Market Report:
Li-ion Batteries Segment to Dominate the Market
- In lithium-ion batteries, the binder is considered to be a key component. PVDF acts as a suitable binder in these batteries.
- By 2030, the global demand for lithium-ion batteries will increase elevenfold, reaching over 2 TWh in 2030, as per certain projections. This growth can be attributed to the rising number of electric vehicles, which predominantly rely on lithium-ion batteries for power.
China Expected to Dominate the Asia-Pacific Market
- In China, significant end-user industries involving polyvinylidene fluoride (PVDF) usage include electrical and electronics, oil and gas, aerospace and defense, chemical processing, automotive, and building and construction industries.
- China dominates with 80% of the world's lithium refining and 77% of the world's cell capacity, controlling lithium-ion battery production.
What are the Latest Developments in the Mexico Agrochemicals Market?
- In November 2022, Solvay and Orbia entered into a joint venture framework agreement in North America to produce suspension-grade PVDF to supply critical materials to the battery market.
- In January 2022, Arkema enhanced its previously announced PVDF capacity expansion in Changshu.
Mordor Intelligence has Segmented the Polyvinylidene Fluoride (PVDF) Market Based on Type, End-user Industry, and Geography:
- By Application (Market Size and Forecast based on Value (metric kilotons), 2018-2028)
- Pipes and Fittings
- Films and Sheets
- Wires and Semiconductor Processing
- Coatings
- Membranes
- Li-ion Batteries
- By End-user Industry (Market Size and Forecast based on Value (metric kilotons), 2018-2028)
- Oil and Gas
- Electrical and Electronics
- Chemical Processing
- Automotive and Processing
- Aerospace and Defense
- Building and Construction
- Other End-user Industries
- By Geography (Market Size and Forecast based on Value (metric kilotons), 2018-2028)
- Asia-Pacific
- China
- India
- Japan
- South Korea
- ASEAN Countries
- Rest of Asia-Pacific
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- United Kingdom
- Italy
- France
- Spain
- Rest of Europe
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- Asia-Pacific
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Polyvinylidene Fluoride (PVDF) Market Report (2023-2028).
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About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the industry’s competitive landscape.
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