Polyvinylidene Fluoride (PVDF) Market - Size, Share, Trends, and Forecast to 2025
Polyvinylidene fluoride (PVDF) is a highly non-reactive thermoplastic fluoropolymer. It is chemically inert to most alcohols, acids, chlorinated solvents, and aromatic & aliphatic organic compounds. It offers properties such as excellent intrinsic fire resistance, low coefficient of friction and operability over a wide range of temperatures, good resistance to UV radiation, capability for thermoforming, and can be easily joined by welding. Polyvinylidene fluoride is processed by various methods such as machining, injection, and extrusion. It is widely used in coatings, lithium-ion batteries, and photovoltaic films. 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.
Polyvinylidene fluoride hoses, pipes, and tubes are used in the automobile fuel systems, owing to its properties such as impermeable nature and chemical resistivity. Moreover, PVDF fittings are also used in household and commercial buildings. These factors have rapidly increased the demand for polyvinylidene fluoride and boosted growth of the PVDF market over the past few years. Polyvinylidene fluoride membranes are highly preferred in various processes, including corrosive chemicals for pumps, manufacturing equipment, and transportation containers due to its excellent chemical resistance and freedom of operability at elevated temperatures.
The global polyvinylidene fluoride (PVDF) market was valued at US$ 956 Million in 2017 and is expected to expand at a CAGR of 7.2% in terms of revenue during 2018–2025, owing to increasing demand for polyvinylidene fluoride (PVDF) from end use industries such as construction industry and oil and gas. For instance, according to the Chartered Institute of Building, by 2030, the construction industry is expected to account for 14.7% of the global GDP. Moreover, by 2030, the global construction market is projected to be valued at US$ 17.5 trillion from US$ 8 trillion in 2015. Due to properties offered by PVDF such as chemical resistance and thermal stability demand for it increases in construction industry.
Among end-use industry, oil and gas industry accounted for 57% market share of the global polyvinylidene fluoride market in 2017. Polyvinylidene fluoride is used in oil & gas industry due to its enhanced properties such as low permeation, low surface energy, non-sticky and non-flammable nature, excellent chemical resistance, excellent aging, environmental stress crack resistance, consistent mechanical behavior over time, and superior ductility/flexibility at low temperatures. Polyvinylidene fluoride coatings provide excellent chemical resistance at elevated temperature range. PVDF films are used for windmills, which provide better resistance to tough environmental conditions and lower friction for turbine generators and windmill blades.
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However, fluctuating price of raw materials is expected to be one of the factors restraining growth of the polyvinylidene fluoride (PVDF) Market over the forecast period.
Major Players in the Global Polyvinylidene fluoride (PVDF) Market
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.
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