The Polyvinylidene Fluoride Market Is Estimated To Witness High Growth Owing To Rising Demand From The Construction Industry
The Polyvinylidene Fluoride Market is estimated to be valued at Us$ 1338.27 Mn 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 (PVDF) is a specialty plastic with several desirable properties such as chemical and thermal resistance, weatherability, and non-flammability. It is used in various applications such as architectural coatings, cable insulation, pipe linings, and filtration membranes. PVDF coatings provide durability and longevity to infrastructure and find extensive usage in the construction industry.
Market Dynamics:
Growing infrastructure development activities are fueling the demand for PVDF coatings and linings in the construction sector. PVDF chemical & thermal resistance properties make it suitable for use in railings, pipelines, roofs, and exterior walls that require durability and protection against weathering. Furthermore, tightening environmental regulations regarding emissions from industries are positively impacting the demand for PVDF membranes used in wastewater treatment and air filtration. Superior weatherability of PVDF also drives its adoption in wire and cable insulation industry. However, availability of substitute materials may hamper the polyvinylidene fluoride market growth during the forecast period.
SWOT Analysis
Strength: Polyvinylidene fluoride (PVDF) exhibits high chemical resistance, weather resistance, thermal stability, and corrosion resistance. It can withstand temperatures ranging from -150°C to 120°C. PVDF also has self-lubricating properties making it suitable for various demanding industrial applications. Furthermore, PVDF has superior dielectric properties and piezoelectric behavior which increases its use in membrane applications.
Weakness: The processing cost of PVDF is relatively high compared to other polymers which can hamper its demand. Furthermore, the volatility in raw material prices such as vinylidene fluoride can negatively impact the production cost of PVDF.
Opportunity: Increasing penetration of PVDF in lithium-ion batteries as a separator material offers significant growth prospects. Rapid growth of water treatment membranes made from PVDF to cater to increasing global demand for clean water further presents lucrative opportunities.
Threats: Stringent environmental regulations in Europe and North America regarding the use of fluorinated chemicals poses a major challenge. The availability of substitute polymers such as PTFE and ETFE also threatens the demand for PVDF.
Key Takeaways
The global polyvinylidene fluoride market is expected to witness high growth, exhibiting a CAGR of 6.0% over the forecast period, due to increasing use in lithium-ion batteries.
Regional analysis:
Asia Pacific is expected to dominate the global polyvinylidene fluoride market over the forecast period. This can be attributed to the presence of a large number of PVDF membrane manufacturing plants and lithium-ion battery producers in countries such as China and South Korea. China accounted for over 60% of the global PVDF demand in 2023 owing to low-cost domestic production and abundant raw material supply.
Key players:
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.
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