PUBLISHER: KBV Research | PRODUCT CODE: 1450437
PUBLISHER: KBV Research | PRODUCT CODE: 1450437
The Global PVDF Resin Market size is expected to reach $3.3 billion by 2030, rising at a market growth of 7.3% CAGR during the forecast period. In the year 2022, the market attained a volume of 1,06,299.37 Tonnes, experiencing a growth of 6.5% (2019-2022).
The non-stick properties of PVDF coatings make them easy to clean. Therefore, the coatings segment captured $250.68 million revenue in the market in 2022. The surfaces coated with PVDF are less prone to accumulating dirt, making them suitable for applications where cleanliness and hygiene are essential. PVDF coatings are chemically inert, meaning they do not react with various chemicals. This inertness contributes to their stability and effectiveness in protecting surfaces from chemical exposure.
PVDF-coated metal panels and roofing systems are popular in construction projects. The material's resistance to environmental factors, including sunlight and harsh weather conditions, makes it suitable for roofing applications. PVDF-coated panels and sidings are employed for exterior walls, providing decorative and protective features.
PVDF resin is employed in the production of lightweight components in automobiles. Its low density and high strength contribute to the overall weight reduction of vehicles, enhancing fuel efficiency and performance. This is employed in producing tubing and hoses used in automotive systems. Thus, because of the expansion in automotive manufacturing, the market is anticipated to increase significantly.
However, PVDF resin faces stiff competition from alternative materials, some of which may be lower-cost options. Industries with stringent budget constraints may opt for alternative polymers, potentially affecting the market growth of the market in price sensitive. Due to the high cost of raw ingredients, this may find it difficult to maintain competitive pricing for their products or services. Therefore, high production cost is a significant challenge that hampers the growth of the market.
By Type of Crystalline Phase Analysis
By type of crystalline phase, the market is categorized into alpha, beta, gamma, and delta. In 2022, the alpha segment held 49.6% revenue share in the market. Alpha-phase PVDF resin is well-suited for applications in the chemical processing industry. Its excellent chemical resistance makes it ideal for manufacturing pipes, fittings, valves, and other equipment for transporting corrosive chemicals and solvents.
By End-user Analysis
On the basis of end-user, the market is divided into chemical processing, electrical & electronics, building & construction, oil & gas, automotive, and others. The building & construction segment recorded 23.2% revenue share in the market in 2022. PVDF-coated metal panels and roofing systems are popular in the construction industry. The material's resistance to environmental factors, including sunlight and harsh weather conditions, makes it suitable for roofing applications.
By Application Analysis
Based on application, the market is classified into pipes & fittings, films & sheets, coatings, membranes, wire & cable, Li-ion batteries, and others. In 2022, the Li-ion batteries segment witnessed 41.0% revenue share in the market. PVDF resin is commonly used as a binder material in the production of Li-ion batteries. It helps hold together the active materials, conductive additives, and other components in the battery electrode, providing mechanical strength and stability.
By Regional Analysis
Region-wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the North America region acquired 24.9% revenue share in the market. PVDF membranes are extensively used in North America for water and wastewater treatment applications. North America's chemical processing industry relies on PVDF resin to manufacture pipes, fittings, valves, and other equipment. The electronics industry in North America utilizes PVDF resin to produce electrical components, including wires, cables, connectors, and insulation materials.
Recent Strategies Deployed in the Market
List of Key Companies Profiled
Global PVDF Resin Market Report Segmentation
By Type of Crystalline Phase
By End-user (Volume, Tonnes, USD Billion, 2019-2030)
By Application (Volume, Tonnes, USD Billion, 2019-2030)
By Geography (Volume, Tonnes, USD Billion, 2019-2030)