The global PVDF resin market reached a value of US$ 880.7 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 1,285.0 Million by 2027, exhibiting at a CAGR of 6.20% during 2022-2027.
Polyvinylidene fluoride (PVDF) refers to a thermoplastic fluoropolymer resin that is produced from the polymerization of vinylidene difluoride (VDF). It is highly inert and offers surface hardness, high tensile strength, ultraviolet (UV) light resistance, etc. Consequently, PVDF resin is widely utilized in the production of piping products, sheets, tubes, films, plates, etc., across the globe. Furthermore, it is applied on curtain walls, aluminum windows, door framing, soffits, sunshades, etc., to form aluminum extrusions.
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The expanding electronics sector, on account of the rising sales of portable computing devices, smartphones, gaming systems, etc., is primarily driving the PVDF resin market. Additionally, the widespread product adoption in wires and cables, owing to its flexibility, lightweight, low thermal conductivity, etc., is further catalyzing the market growth.
Besides this, the growing utilization of PVDF resin for easy processing in extrusion, molding, and compounding is acting as another significant growth-inducing factor. Moreover, it is extensively used as a binder for manufacturing lithium-ion batteries, which in turn, is also augmenting the global market. Apart from this, the launch of numerous favorable policies by government bodies to invest in the renewable energy sector is anticipated to fuel the PVDF resin market over the forecasted period.
The competitive landscape of the industry has also been examined along with the profiles of the key players being 3M Company, AGC Chemicals (AGC Inc.), Akzo Nobel N.V., Arkema S.A, Daikin Industries Ltd., Dongyue Group, Kureha Corporation, PPG Industries Inc., Sinochem Lantian Co. Ltd., Solvay S.A, The Sherwin-Williams Company and Zhejiang Fotech International Co. Ltd.
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Breakup by Type of Crystalline Phase:
Breakup by End Use Industry:
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