Polyvinylidene Fluoride (PVDF) Market Volumes to Reach 152 metric kilotons by 2028

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

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.

Attachment

PVDF Market - Mordor Intelligence