Pune, India, April 2020, MRFR Press Release/- Market Research Future has published a Cooked Research Report on the Global Polyvinylidene Fluoride Market.
Global Polyvinylidene Fluoride Market is Estimated to Be Valued at USD 1,200 Million By 2025 and Register a CAGR of over 6.5% During the Forecast Period.
The Global Polyvinylidene Fluoride Market is expected to witness a surging growth in the coming assessment period owing to its widespread usage in diverse end-use industries such as electrical & electronics, chemical processing, automotive, oil & gas, and construction. The growth is mainly attributed to the rising chemical production worldwide which subsequently increases the consumption of PVDF in piping & tubing applications. PVDF is widely used in water treatment, distillation, bioethanol recovery, and gas separation, amongst others. Furthermore, the piezoelectric characteristics offered by PVDF creates lucrative opportunities for the use in the back sheets of solar panels. The increased demand for PVDF in lithium-ion batteries due to its exceptional electrical properties is likely to boosts the global demand for PVDF. Moreover, with an increase in the focus on research & development activities, manufacturers have unlocked new areas of application such as the fishing industry. However, the presence of potential substitutes is a major factor that is expected to hamper the growth of the market.
According to MRFR analysis, the Global Polyvinylidene Fluoride Market has been Segmented based on Polymorphs Type, Product Type, Application, End-Use, and Region.
Based on polymorphs type, the global polyvinylidene fluoride market has been segmented into α phases, β phases, γ phases, δ phases, and ε phases. In 2018, the α phases segment accounted for the largest share of around 55% in the global market. The segment is expected to witness a healthy growth of 6.5% during the forecast period owing to exceptional properties offered by α phase PVDF such as good thermal conductivity, and high chemical and heat resistance. The β phase segment holds the second-largest market share of over 25% and is expected to witness the fastest growth among other polymorphs types. The β phase PVDF segment is expected to reach a value of around USD 350 million by the end of 2025.
Based on product type, the global market has been segmented into pellets, powder, latex emulsions, and films. Among these, the powder segment holds the maximum share of around 45% in the global market. The high market share is mainly due to its extensive usage in film, fiber, membrane, valves & fittings, lithium-ion batteries, and piping applications. It is expected to witness an increase of over 7% during the forecast period 2019-2025 and reach over USD 550 million by 2025 in value.
Based on application, the global market has segmented into piping & tubing, wires & cables, photovoltaic films, membranes, Li-ion batteries, coatings for energy & electronic devices, and others. The piping & tubing segment, among other applications, accounted for the largest market share. The growth is mainly attributed to the rapid industrialization and increased chemical processing globally. PVDF piping & tubing are extensively used in processes such as water treatment, distillation, bio-ethanol recovery, and gas separation. It is expected to witness a healthy CAGR of around 6.5% between 2019-2025.
Based on end-use, the global market has been segmented into electrical & electronics, chemical processing, automotive, oil & gas, construction, and others. The chemical processing segment holds a major share of around 30% in the global market owing to its widespread usage in the pulp & paper, textiles, and oil & gas industries. However, the electrical & electronics segment is expected to witness the fastest growth among other end uses with a CAGR of around 7% and is expected to reach a value of USD 150 million by the end of 2025.
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Geographically, the global polyvinylidene fluoride market has been segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. As per MRFR analysis, the Asia-Pacific region dominated the global market, accounting for the largest share of around 45% in 2018 and is expected to register a CAGR of over 7.5% during the forecast period. Asia-Pacific is followed by North America, which accounted for the second-largest share of the global polyvinylidene fluoride market in 2018. The North American market accounted for a share of around 25% in 2018. The European market is expected to witness moderate growth, with a CAGR of 6% over the forecast period. Latin America and the Middle East & Africa markets are also likely to witness significant growth with a CAGR of around 5% during the forecast period, 2019–2025.
Market Research Future (MRFR) recognizes the following companies as the Key Players in the Global Polyvinylidene Fluoride Market: Arkema (France), Solvay (Belgium), 3M (US), SABIC (Saudi Arabia), KUREHA CORPORATION (Japan), Agiplast (Italy), SKC (South Korea), Shanghai Ofluorine Co., Limited (China), and Mitsubishi Chemical Advanced Materials (Japan).
Key Findings of the Study