According to the report by Expert Market Research (EMR), the global PVDF resin market size is projected to grow at a CAGR of 7.60% between 2024 and 2032. Aided by its diverse applications and technological advancements, the market is expected to grow significantly by 2032.
PVDF resin is a highly non-reactive thermoplastic fluoropolymer, known for its superior chemical resistance, high thermal stability, and excellent mechanical strength. It is widely used in applications requiring high purity and strength, including chemical processing, semiconductor manufacturing, and new energy industries.
The PVDF resin market growth is significantly driven by the expanding new energy sector, particularly in solar photovoltaic (PV) cells and lithium-ion batteries. PVDF resin, with its excellent chemical stability and binding properties, is used as a binder in lithium-ion batteries, enhancing their performance and lifespan. Similarly, its application in the backsheet of solar PV modules, to protect against weathering and UV radiation, underscores its importance in the renewable energy industry.
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The automotive industry also contributes to the PVDF resin market demand. With the rising trend of lightweight and fuel-efficient vehicles, there is an increasing demand for PVDF resin in manufacturing automotive parts. Its application in fuel systems, battery packs, and coatings for vehicles stands out for its ability to enhance safety and performance.
In the chemical processing industry, PVDF resin is used for its resistance to chemicals and acids. It is employed in coatings, pipes, and fittings, which are essential in handling corrosive substances. The growth of the chemical industry, especially in emerging economies, propels the demand for PVDF resin.
Another significant application of PVDF resin is in the construction industry, where it is used in architectural coatings. PVDF coatings are renowned for their durability and ability to retain colour and gloss over long periods, making them ideal for external applications in buildings.
Technological advancements in PVDF resin manufacturing have led to the development of high-performance variants. Innovations focusing on improving the resin’s properties, such as enhanced flexibility, weatherability, and processing ease, have broadened its application scope.
Geographically, the Asia-Pacific region holds a significant portion of the PVDF resin market share. The region’s growth is attributed to the rapid expansion of industries like renewable energy, automotive, and construction, particularly in countries like China, India, and Japan. The supportive government policies towards sustainable energy and manufacturing growth further fuel the market in this region.
PVDF Resin Market Segmentation
The market can be divided based on type, end-use industry, application, and region.
Market Breakup by Type
- Alpha
- Beta
- Gamma
- Delta
Market Breakup by End-Use Industry
- Chemical processing
- Construction
- Electrical and Electronics
- Oil and Gas
- New Energies
- Pharmaceuticals and Biomedical
- Others
Market Breakup by Application
- Resins
- Filaments
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Competitive Landscape of PVDF Resin Market
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global PVDF resin market. Some of the major players explored in the report by Expert Market Research are as follows:
- Kureha Corporation
- RTP Company, Inc.
- Arkema S.A.
- Shanghai Ofluorine Co., Limited
- 3M Company
- Solvay SA
- Zhejiang Fotech International Co., Ltd.
- Daikin Industries, Ltd.
- Zhuzhou Hongda Polymer Materials Co., Ltd
- Shanghai Huayi 3F New Materials Co., Ltd.
- Others
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