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 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Polyvinylidene fluoride (PVDF) is a highly non-reactive thermoplastic fluoropolymer. It is known for its chemical inertness, thermal stability, radiation resistance, and weatherability. PVDF finds applications as linings and coatings for reactors, digesters, tanks, valves, and pipes. It is also used as a membrane in battery separators and water desalination.
Market Dynamics:
The growing usage of PVDF in the healthcare industry is expected to drive the market growth over the forecast period. PVDF is used in medical devices such as blood bags, intravenous solution bags, piping for diagnostic ultrasound probes, and biomaterial coatings. Its non-reactive and thermally stable properties make it suitable for such applications. Additionally, PVDF is increasingly being used in lithium-ion batteries, especially in lithium-ion battery separators. Its lightweight and high porosity make the membrane strong yet porous. This allows only lithium-ion to pass through while blocking metal dendrites, thus increasing the battery life. The rising demand for lithium-ion batteries from electric vehicles and energy storage systems is further expected to boost the demand for PVDF over the forecast period.
SWOT Analysis
Strength: Polyvinylidene fluoride(PVDF) is highly resistive to corrosion and chemicals and possesses good mechanical properties. It has high melting point and heat resistance. It shows excellent flexibility and durability.
Weakness: PVDF has high production cost compared to conventional plastics. It requires special technology and equipment for processing PVDF.
Opportunity: Rising demand for PVDF from oil & gas, chemical processing, and electrical & electronics industries due to its excellent chemical and heat resistance properties. Growing use of PVDF in lithium-ion batteries and photovoltaic films offer significant opportunities.
Threats: Fluctuations in raw material prices can increase the production cost of PVDF. Stringent environmental regulations regarding plastic production and disposal act as a threat.
Key Takeaways
The Global Polyvinylidene Fluoride Market is expected to witness high growth, exhibiting CAGR of 6.0% over the forecast period, due to increasing use in lithium-ion batteries for electric vehicles. The demand for PVDF is growing in the electrical and electronics sector for components used in mobile phones, tablets and wearable devices.
Regional analysis Asia Pacific dominates the global PVDF market, accounting for more than 35% of the global demand in 2023. China leads the global PVDF consumption due to strong demand from electrical & electronics and industrial sectors. Europe and North America also contribute significantly to the global PVDF demand supported by presence of key end-use industries.
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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