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Polyvinylidene Fluoride (PVDF) Market is estimated to be valued at USD 1,460.71 Mn in 2024

Polyvinylidene Fluoride (PVDF) Market is estimated to be valued at USD 1,460.71 Mn in 2024 - Coherent Market Insights

Publish In: Mar 13, 2024

The polyvinylidene fluoride (PVDF) market is estimated to be valued at USD 1,460.71 million in 2024, growing at a CAGR of 7.1% over the forecast period (2024-2031). PVDF is finding increasing usage in membrane separation technology owing to properties such as chemical resistance and durability. Furthermore, rising oil & gas exploration activities are also favoring the market growth.

Market Dynamics:

The global polyvinylidene fluoride (PVDF) market is primarily driven by the growing demand for PVDF membrane from various end-use industries such as water & wastewater treatment, food & beverage and pharmaceutical. PVDF membrane has superior properties such as non-toxicity, thermal stability, chemical resistance and durability which makes it an ideal material for filtration purposes. Rising global water stress is propelling the demand for advanced water treatment technologies employing membrane separation processes.

In addition, growing oil & gas exploration & production activities are also driving the PVDF market. PVDF exhibits excellent resistance to various chemicals used in the oil & gas industry such as aromatic oils, lubricating oils and fuels. PVDF linings are widely used in piping systems, pumps, valves and vessel joints to prevent corrosion in oilfield operations. Steady recovery in global crude oil prices in recent years has boosted upstream capital

Increasing Demand from Lithium-ion Battery Manufacturing

One of the major drivers for the growth of the PVDF market is the increasing demand from the lithium-ion battery manufacturing industry. PVDF is used as a binder material in the manufacturing of lithium-ion battery separators and electrodes. With the rising adoption of electric vehicles and increasing investments in energy storage solutions globally, the demand for lithium-ion batteries is experiencing strong growth. As PVDF plays a key role in lithium-ion battery manufacturing, its market is directly correlated with the expansion of the battery industry. Major battery manufacturers are ramping up their production capacities, which is creating significant demand for PVDF and boosting market revenues.

Growth of Membrane Technology

Another key growth driver for PVDF is the rising application of membrane technology across various end-use industries. PVDF membranes have excellent chemical and thermal resistance making them suitable for use in ultrafiltration and microfiltration. The water treatment industry is a major consumer of PVDF membranes for processes like desalination and waste water treatment. The food & beverage industry also uses PVDF membranes extensively in membrane filtration applications. The demand for higher-grade membranes from the pharmaceutical industry is another major factor fueling the sales of PVDF. With growing global focus on clean water and strict regulations regarding water purity, the use of membrane technology is proliferating rapidly.

Supply Constraints of Raw Materials

Fluctuating raw material prices pose a major challenge for PVDF manufacturers. Raw materials account for over 50% of PVDF production costs. Prices of key raw materials like ethylene, chlorine and fluorinated monomers used in PVDF production exhibit volatile trends due to various supply and demand forces. Any supply shortage or price rise of these raw materials increases the overall production cost for PVDF manufacturers, thus negatively impacting the market. Dependence on overseas suppliers for raw materials also makes the market prone to supply chain disruptions.

Intense Competition from Alternatives

PVDF faces competition from alternative polymers that are increasingly used as substitutes in its application areas. In lithium-ion battery manufacturing, alternatives like polyacrylonitrile are gaining ground. Similarly, membranes made from polymers such as polytetrafluoroethylene (PTFE) and polypropylene (PP) are replacing PVDF in some end-use industries based on pricing factors. Continuous R&D towards developing superior and more cost-effective alternative materials can weaken PVDF’s stronghold in the market over the long run if manufacturers are unable to address the rising competitiveness through product innovations.

Growing Electric Vehicle Industry

With more automakers committing to electrification of their vehicles, the demand for lithium-ion batteries from the electric vehicle industry is projected to experience exponential growth over the next decade. As PVDF plays a crucial role in battery manufacturing as a binder for separators and electrodes, its market stands to significantly benefit from this opportunity. Major EV battery producers are already planning large investments in expanding battery production capacities, which will translate to increased offtake of PVDF. This will open up new avenues of revenue growth for PVDF manufacturers.

Expanding End-Use Applications

Continuous R&D by manufacturers towards utilizing the distinctive properties of PVDF provides opportunities to tap new end-use markets. Its use in specialty coatings, membranes for semiconductor manufacturing and medical device applications has been growing. Specialized PVDF grades suitable for 3D printing are also gaining attention. Efforts to develop PVDF-based nanoparticles further expand its potential in areas such as drug delivery, tissue engineering and biomedical implants. Successful commercialization of new application technologies based on PVDF will help strengthen and diversify demand in the future.

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Key Development

  • The collaboration between Solvay and Orbia, announced in November 2022, marks a significant milestone in the production of suspension-grade polyvinylidene fluoride (PVDF) for battery materials. This partnership aims to establish the largest capacity for PVDF production in North America.
  • In February 2022, Solvay made a significant announcement regarding the product expansion of Solef, its renowned PVDF resin brand. This expansion is particularly notable as Solef is produced at the largest production site for PVDF in Europe. Solvay's decision to enhance the product range of Solef underscores its commitment to meeting the evolving needs of various industries that rely on high-performance materials like PVDF.
  • Arkema's decision, announced in February 2021, to expand its polyvinylidene difluoride (PVDF) production capacities at its Changshu site in China reflects a strategic response to the rising demand for PVDF across various industries such as lithium-ion batteries, water filtration, construction coatings, and semiconductors. By increasing its production capabilities, Arkema is positioning itself to meet the growing needs of these key sectors and enhance its presence in the fluoropolymer market
  • The collaborative effort between Polymer Engineering Company Ltd and Arkema in January 2021 to develop technology that blends Kynar Flex polyvinylidene difluoride (PVDF) with various types of rubber represents a significant advancement in material science. This innovative approach enables melt processing through vulcanization and chemical compatibilization, leading to enhanced properties and performance characteristics.
  • The introduction of Fluorodur by Fillamentum in May 2021 marks a significant milestone in the realm of 3D printing materials. This high-performance engineering filament, based on PVDF, offers a unique combination of chemical, mechanical, and thermal properties, making it ideal for a wide range of applications. Notably, Fluorodur's exceptional characteristics have led to its utilization in research projects at the Czech Academy of Sciences, where it is being employed to 3D print high-strength sealant structures for geology equipment.

Key Players: 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, Zhejiang Fotech International Co. Ltd., Vizag Chemucals, Ottokemi, Swami Plast Industries, Aritech Chemazone Pvt. Ltd., Aritech Chemazone Pvt Ltd., RTP Company, and Esinger Plastic

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