The global 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:
PVDF is a fluoropolymer plastic that has a number of desirable properties such as thermal stability, chemical resistance and weatherability. These properties make PVDF ideal for use in lithium-ion batteries and energy storage devices which are seeing increased demand due to growth in renewable energy and electric vehicles.
Market key trends:
One of the key trends in the PVDF market is its increasing use in lithium-ion batteries which power energy storage devices and electric vehicles. Governments around the world are promoting renewable energy adoption through various policies and incentives in order to meet climate change goals. This is driving demand for large-scale energy storage to balance intermittent power supplies from sources like solar and wind. Similarly, electric vehicles are seeing rising sales as consumers look for greener transportation options. PVDF, with its thermal stability and chemical resistance, is ideal for use as a separator material in lithium-ion batteries powering both stationary energy storage and electric vehicles. This growing demand from the energy storage sector is expected to be a major driver for the PVDF market over the forecast period.
Segment Analysis
The global polyvinylidene fluoride market is dominated by the piezoelectric segment. PVDF exhibits strong piezoelectric properties due to its polar crystalline structure, making it ideal for transducer and sensor applications. Thus, the piezoelectric segment accounts for over 35% of the total market share.
Key Takeaways
The Global Polyvinylidene Fluoride Market Demand is expected to witness high growth, exhibiting CAGR of 6.0% over the forecast period, due to increasing demand from end-use industries such as automotive, construction and aerospace.
The Asia Pacific region is currently the largest as well as the fastest growing market for polyvinylidene fluoride, owing to presence of emerging economies like China, India and Southeast Asian countries. China dominates the regional market, accounting for over 35% of the global demand.
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. Arkema and Solvay S.A. are the market leaders and together account for over 35% of the global polyvinylidene fluoride production capacity.
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