Global PVDF Resin Market Report and Forecast 2024-2032

Global PVDF Resin Market Outlook

The global PVDF resin market attained a value of about USD 1.11 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 7.60% to reach nearly USD 2.15 billion by 2032.

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Rising Demand for PVDF Resins in the Chemical Industry Bolstering the Market Growth

The increasing use of PVDF resins in the chemical industry owing to their corrosion-resistance and high mechanical strength is driving the industry growth. The durability and toughness of PVDF resins make them ideal for boosting the toughness of chemicals, which is significantly contributing to the growth of the market. Moreover, the incorporation of various additives in PVDF resins is enhancing their physical, chemical, and mechanical properties, which, in turn, is bolstering their demand in the end-use industries and propelling the market growth.

The rising demand for electric vehicles in both developed and developing countries is increasing the preference for lithium-ion batteries with high energy output. As PVDF resins enhance the performance of lithium-ion batteries, they are preferred in electric vehicles, especially cars, which is driving the industry growth. Moreover, the use of PVDF resins in lithium-ion batteries is leading to enhanced safety, high battery density, and excellent power output to enable high voltage for the efficient functioning of electric vehicles, thereby providing further impetus to the market growth.

PVDF Resin: Market Segmentation

PVDF resin, variously known as polyvinylidene fluoride (PVDF) resin, is a thermoplastic that has high thermal stability and excellent mechanical properties. It is an extremely versatile thermoplastic and is primarily used in manufacturing sheets, coatings, and pipes for the construction industry. It also finds its applications in industries like chemical processing, oil and gas, electronics, and energy, among others.

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The major types of PVDF resin are:

• Alpha
• Beta
• Gamma
• Delta

The market can be broadly categorised on the basis of its end-use industries into:

• Chemical processing
• Construction
• Electrical and Electronics
• Oil and Gas
• New Energies
• Pharmaceuticals and Biomedical
• Others

Based on applications, the market is divided into:

• Resins
• Filaments

The EMR report looks into the regional markets of PVDF resin like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Growing Use of PVDF Resins in the Electronics Industry to Propel the Growth of the Market

The growing use of PVDF resins in the electronics industry to control static electricity conduction or formation is augmenting the growth of the market. As PVDF resins feature high electroactive response, they are increasingly utilised in the development of sensors, capacitors, and actuators, among others, hence driving the market growth. The increasing demand for PVDF resins in the binding of cathodes and anodes in lithium-ion batteries in the electronics industry is also fuelling the market growth.

With the growing demand for high-end and diverse applications in electronic devices, PVDF is deployed to enhance insulation and data communications, which, too, is propelling the industry growth. In addition, the increasing trend of automation of electronic devices is escalating the demand for PVDF resin in automation equipment, thus providing impetus to the growth of the market. The excellent electromechanical properties of PVDF resin are surging its scope in applications like pumps and microvalves in biomedical engineering and robotics, which is anticipated to further bolster the industry growth.

Key Industry Players in the Global PVDF Resin Market

The report presents a detailed analysis of the following key players in the global PVDF resin market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

• 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

The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

Key Highlights of the Report