| Source: Emergen Research Emergen Research
Vancouver, Oct. 02, 2023 (GLOBE NEWSWIRE) — The global PVDF market size is expected to reach USD 1,851.09 Million at a steady CAGR of 6.6% in 2032 and register a revenue CAGR over the forecast period, according to latest analysis by Emergen Research. Steady global PVDF market revenue growth can be attributed to key factors such as increase in demand for lithium-ion batteries due to chemical inertness of PVDF towards acids. Rising use of photovoltaic films owing to high purity of PVDF is expected to drive revenue growth of the global PVDF market over the forecast period.
Characteristics of PVDC such as good chemical resistance and high thermal stability, as well high corrosion resistance, weatherability, and good adhesion are resulting in expanding scope for application in different industries and products. PVDC also provides high resistance from harsh chemicals such as chlorine, chlorine dioxide, bleach, acid, ozone, peroxides, and oxidants. However, implementation of stringent regulations due to hazardous effects of PVDF on the environment and increase in production of PVDF substitutes is a key factor hampering market revenue growth.
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Increasing investment in renewable energy is expected to fuel market revenue growth. PVDF film layer on vehicles can help with self-charging of the battery while the vehicle is in motion. This increases the efficiency of electric vehicles. PVDF is suitable for application in medical textiles. Latest developments such as artificial cornea made from PVDF material is also driving market revenue growth. An artificial cornea from PVDF was produced in close cooperation with the University Hospital of RWTH Aachen University and other Institutes. This prosthesis was tested and has saved the eyesight of many patients.
Scope of Research
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MAJOR COMPANIES and Competitive Landscape
The global PVDF market is fragmented, with a number of small- and medium-sized players accounting for majority market revenue. Established companies are engaged in various research and development activities and initiatives to develop and deploy new and more efficient technologies and solutions in the PVDF market. Some prominent players operating in the market are:
In June 2021, Arkema launched renewable PVDF range, Kynar, for lithium-ion batteries. The new grade product will claim 100% renewable attributed carbon derived from crude tall oil bio-feedstock. This patent-pending technology allows climate change impact reduction by almost 20% by using Kynar PVDF, while also reducing dependence on upstream crude oil consumption. Arkema is playing a leading role in providing sustainable solutions.
In May 2021, Fillamentum, which is a leading 3D printing material provider, announced the launch of high-performance engineering filament. The product, Fluorodur, is a PVDF material and is characterized by combination of chemical, mechanical, and thermal properties. Fluorodur is being used in research projects at the Czech Academy of Sciences to 3D print high-strength sealant structures for geology equipment.
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Some Key Highlights From the Report
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Emergen Research has segmented the global PVDF market on the basis of application, end-use, and region:
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