Polyvinylidene Fluoride (PVDF) Market Size, Share, Industry, Forecast and Outlook (2024-2031)

The global polyvinylidene fluoride (PVDF) market is expected to expand due to rising demand for oil and gas sector, semiconductors, wire and cable insulation and artificial membrane in biomedical science. Owing to its features such as membrane formation, high thermal stability and chemical resistance, PVDF is used in industrial operations and scientific research.Based on the Energy Shale Gas Production, total natural gas production in Mexico is expected to contribute more than 75% by 2040. As per U.S. Energy Information Administration, crude oil output in Mexico grew by 172,000 b/d in March 2021, up from 983,000 b/d in February 2021. As a result, growing oil and gas sector is expected to increase demand for polyvinylidene fluoride.

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Market Dynamics

The increase in demand for PVDF in lithium-ion batteries because of thorough bonding, insulating healthy capacity and high voltage stability, combined with rising e-vehicle production, is the primary reason driving the PVDF market's growth. The demand for PVDF in lithium-ion batteries is expected to rise due to a shift in customer preferences towards electric and hybrid vehicles as a result of rigorous environmental regulations. After seeing a decrease in 2020 due to the pandemic, global sales of electric vehicles more than double in 2021. The growing use of PVDF in Li-ion batteries and coatings has resulted in a large increase in the total raw material utilised to make polyvinylidene fluoride products. Governments are making laws and regulations to encourage the use of EVs and renewable energy sources. The measures are expected to generate demand for EVs and drive the global PVDF market.

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Segment Analysis

Automotive is expected to drive the market by holding a share of about 1/3rd of the global market in 2022. PVDF coating is becoming more popular for use in rocker panels, brake tubes, underbody fasteners and tail lamp housings because of its superior chemical and corrosion resistance. The European Commission targets at least 30 million electric vehicles on the road by the end of 2030. The market demand for plug-in electric and hybrid vehicles has grown rapidly.India pledged in the 2015 Paris Agreement to reduce its GDP's emission intensity by 33% to 35% below 2005 levels by 2030. Moreover, compared to the current 1.4 million EVs on European roads, it represents a significant rise. One of the main reasons driving the need for Li-ion batteries, which in turn drives the demand for PVDF, is the growing number of EVs on the road. To meet the global aim and offset the negative impact of automobiles, governments across the world are eager to change the narrative towards electric vehicles.

Competitive Landscape

The major global players in the market include SABIC, Arkema Group, Solvay SA, Saint Gobain Performance Plastics, 3M Company, Kureha Corporation, RTP Company, Dongyue Group, Hubei Everflon Polymer Co. and Sinochem.

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