Dublin, May 30, 2024 (GLOBE NEWSWIRE) -- The "Global PVDF Resin Market Report by Type, Type of Crystalline Phase, Application, End Use Industry, and Region 2024-2032" report has been added to ResearchAndMarkets.com's offering.
The global market for Polyvinylidene fluoride (PVDF) resin has witnessed substantial growth, achieving a valuation of USD 1.16 billion as of the year 2023. Continuing on this trajectory, the market is forecasted to expand further, reaching an approximate value of USD 1.88 billion by the year 2032, growing at a Compound Annual Growth Rate (CAGR) of 5.50% during the period from 2023 to 2032. This thermoplastic fluoropolymer resin, known for its robustness and resistance to various environmental factors, is gaining traction across numerous industries, propelling the growth of the market.
Applications Driving Demand
The versatility of PVDF resin has led to its increased adoption in a variety of applications. Its resilience to chemicals, abrasion, and flame has made it a material of choice in the aerospace and defense sectors for the protection of equipment. The growing use of PVDF resin as a binder in lithium-ion batteries and its advantageous properties for easy processing in molding, extrusion, and compounding are key contributors to the expansion of the market. Furthermore, its application in wires and cables for various electronic devices and avionics has been a significant growth driver.
Industry Impacts and Prospects
The PVDF resin market has seen a significant influx in demand, attributed to the expanding electronics industry and the proliferating sales of consumer electronic goods. Increased governmental investments in renewable energy sectors across the world have also been instrumental in fostering market growth. These trends indicate a flourishing future for the market in the coming years.
Market Segmentation Synopsis
Insights into the market segmentation reveal that the PVDF resin market is categorized based on type, crystalline phase, applications, and end-use industries. The primary types include PVDF granule and powder. By crystalline phase, it’s divided into alpha, beta, gamma, and delta. Applications range from coatings, injection and extrusion products, lithium-ion battery binders, photovoltaic films, to water treatment membranes and filaments. Key industries leveraging PVDF resin encompass chemical processing, electrical and electronics, construction, new energies, oil and gas, pharmaceutical, biomedical, and more.
Regional Analysis
The report also provides a comprehensive regional analysis, detailing the market presence across North America, Asia-Pacific, Europe, Latin America, and the Middle East and Africa. This segment of the report underlines the global reach of the PVDF resin market, accentuating its significance across various geographical locales.
Competitive Landscape
The competitive scenario paints a picture of a market characterized by a blend of established industry players. These key entities are continuously engaging in research and development to enhance the applicability of PVDF resin, thus stimulating market competition and growth.
In summary, the global PVDF resin market is moving towards a period of robust growth, buoyed by its increasing utility in multiple industries and applications. The market is expected to continue its upward trend, thanks to the superior qualities of PVDF resin that cater to the diverse needs of modern industrial practices.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 136 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value (USD) in 2023 | $1.16 Billion |
| Forecasted Market Value (USD) by 2032 | $1.88 Billion |
| Compound Annual Growth Rate | 5.5% |
| Regions Covered | Global |
Companies Featured
- 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
- Zhejiang Fotech International Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/7611ck
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