ALBANY, New York, May 28, 2019 /PRNewswire/ -- Players being highly engaged in different organic and inorganic activities, the competition in the global polyvinylidene fluoride market would increase at a substantial rate. Product development and expansion, investing in research and development activities, and innovations are also some of the key aspects on which players are emphasizing. Increasing geographical reach is also one of the major concerns of these players.
Players like Solvay Group and Arkema Group are major players influencing growth in polyvinylidene fluoride (PVDF) market. They are focusing on product expansion and launch of new products. In the Transparency Market Research (TMR) report, information of leading players is given with a special focus on their key strategies and initiatives taken by them. To mention some of the prominent players are 3M Company, Ensinger GmbH, Zhejiang Fotech International Co., Ltd., Ambofluor GmbH & Co. KG, and The Quadrant Group of Companies.
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In terms of revenue, the global polyvinylidene fluoride (PVDF) market generated US$ 750.0 Mn in 2018. This figure is expected to reach US$ 1,722.31 Mn by the end of 2027. These figures are based on the analysis carried by researchers working with TMR. A strong CAGR of 9.1% is the estimated rate at which the global polyvinylidene fluoride (PVDF) market is prognosticated to achieve over the projected tenure between 2019 and 2027.
Geographically, developing regions offer promising growth opportunities for polyvinylidene fluoride, due to its high demand in various industry components such as tanks, vessels, tower packing, pumps, filters, valves, and heat exchangers. Asia Pacific is likely to hold a dominant share in the polyvinylidene fluoride (PVDF) market and China, Japan, and South Korea are the main regions where the demand for polyvinylidene fluoride is high. North America has a high customer base due to rising shale gas exploration activities in the region.
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In the global polyvinylidene fluoride (PVDF) market, the demand for homopolymer PVDF is high as it is made of 100% pure polymer. Equipment and pipes made from homopolymer PVDF have diverse demand in chemical processing and construction industries. However, demand for copolymer PVDF is also high due to its excellent impact resistance and low shrinkage properties.
Rising Applicability in Numerous Industries to Expand Polyvinylidene Fluoride (PVDF) Market
Growing application of polyvinylidene fluoride (PVDF) in various industries such as chemical processing, solar, oil and gas, automotive, electrical and electronics, automotive, fishing lines, food, and beverages equipment, and others have fueled growth in this market. PVDF is also widely used in high-performance separator sheets to enhance separator's life cycle.
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Additionally, the use of polyvinylidene fluoride is seen in a binder that is used for electrode formulations of lithium-ion batteries. This binder provides controlled crystallinity, high dimensional stability, high adhesion to electrodes, and reduced swelling levels in common solvents and electrolytes. These factors are expected to drive the demand in the global polyvinylidene fluoride (PVDF) market. It is also commonly used as insulation on electrical wires attributing to its low weight, flexibility, low thermal conductivity, and heat resistance, and high chemical corrosion resistance. Pertaining to all the above-mentioned factors will expand the global polyvinylidene fluoride (PVDF) market.
Increasing Competition from Fluoropolymers to Challenge Market Growth
Extreme reactivity of the basic ingredient - vinyldiene fluoride (VF2) with air and high flammability limit the growth of polyvinylidene fluoride. Moreover, it is also difficult and risky to transport and is highly toxic in nature, which has further hampered the growth in the global polyvinylidene fluoride (PVDF) market. High cost and increasing competition from other fluoropolymers such as modified PTFE, PTFE, polyvinyl alcohol (PVA), polyvinylpyrrolidone (PVP) polymers, and others are challenging the growth in the global polyvinylidene fluoride (PVDF) market.
The study presented here is based on a report by Transparency Market Research (TMR) titled "Polyvinylidene Fluoride (PVDF) Market (Product - Powder, Pellet, Latex; Type – Homopolymer, Copolymer; End user - Chemical Processing, Oil and Gas, Electrical and Electronics, Solar, Automotive, Building and Construction) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027."
The global polyvinylidene fluoride (PVDF) market is segmented based on:
- Chemical Processing
- Oil & Gas
- Electrical & Electronics
- Building & Construction
- Others (including Food & Beverage Equipment, Fishing Lines, Aerospace, and Nonwoven Fabrics)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
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