Global Polyvinylidene Fluoride (PVDF) Market was valued at US$ 956 billion in 2017 and is expected to reach US$ 1,667.31 billion by 2025, witnessing a CAGR of 7.2% over the forecast period (2018 – 2025), according to Polyvinylidene Fluoride (PVDF) Market report, by Application (Coatings, Pipes, Sheets, Tubes, Films, Membrane, Cables and Others), by End-use Industry (Oil & Gas, Chemical Processing, Construction, and Others), and by Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa).
Increasing demand for PVDF in applications such as coatings, pipes, and films are driving growth of the global polyvinylidene fluoride (PVDF) market. It provides highest purity, resistance to solvent acid and bases. PVDF is commonly used as insulation on electrical wires due to its combination of flexibility, low weight, low thermal conductivity, high chemical corrosion resistance, and heat resistance. However, fluctuating prices of raw materials is expected to be one of the restraining factors affecting growth of the polyvinylidene fluoride (PVDF) market over the forecast period.
To know the latest trends and insights prevalent in this market, click the link below:
Key Trends and Analysis of the Polyvinylidene Fluoride (PVDF) Market:
- Extensive use of polyvinylidene fluoride in chemical processing, construction, and oil & gas industry has led to rapid increase in the consumption of PVDF. This has amplified growth of polyvinylidene fluoride market over the past few years. Asia Pacific is projected to be one of the major contributors to the polyvinylidene fluoride market. This is mainly attributed to rapidly growing urbanization and increasing demand for advanced thermo plastic products in the region. In 2015, demand for plastic in China rose by 10%, as compared to the previous year. Also, India has a well-established base for raw materials required for the plastic industry. This attracts many polyvinylidene fluoride manufacturers to establish manufacturing units in the region and this trend is expected to remain the same over the forecast period.
- Among end-use industry, oil & gas industry held significant market share in 2017 and it is expected to grow over the forecast period, owing to presence of key players in the market and wide range of PVDF products offered by key players for various applications across the globe. For instance, Arkema, which operates its production facilities in Europe, North America, and Asia, use polyvinylidene fluoride (PVDF) in chemical engineering, manufacturing paints and anti- corrosive coatings, oil gas extraction, photovoltaic panels, and lithium-ion batteries. Specialty polymers and PVDF offered by this business unit are provided under recognized brands such as Rilsan, Rilsamid, Orgasol, Pebax, and Kynar.
Key Takeaways of the Market:
- North America is expected to witness significant growth in the global polyvinlylidene fluoride (PVDF) market over the forecast period, owing to adoption of strategies such as new product development by key players in PVDF market to expand its product portfolio. For instance, in April 2018, Solvay, which is a global supplier of specialty polymers, recently introduced new Solef 90615/2002 polyvinlylidene fluoride (PVDF) at the Offshore Technology Conference in Houston, Texas. This new high-performance polymer is basically designed to improve the capabilities of flexible risers, steel pipes, and flow lines that are used in oil and gas recovery. Solef 90615/2002 PVDF delivers reliable performance despite the high temperatures and pressures required for oil transmission in onshore and offshore environments.
- Some of the key players operating in the global polyvinylidene fluoride (PVDF) market include 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.