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PVDF Resin Market to Attain Significant Growth to reach $4.6 billion by 2032, driven by dominance in Aerospace and Automotive Industries
PVDF Resin Market Research, 2032
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Based on the type of crystalline phase, the alpha segment accounted for the largest share in 2022, contributing to more than three-fifths of the global PVDF resin market revenue, and is projected to retain its dominant status during the forecast period. PVDF in the alpha crystalline phase exhibits good electrical insulation properties. This makes it desirable for applications requiring excellent dielectric strength and low electrical conductivity, such as in the electronics and electrical industries. The beta phase is projected as the fastest-growing segment registering a CAGR of 8.1% during the forecasted period. The beta phase of PVDF resins exhibits exceptional electrical properties, including pyro, piezo, and ferroelectric capabilities. Thus, these electroactive features are becoming increasingly essential in applications such as biomedicine, smart scaffolds, energy storage, spin-valve devices, and sensors.
The Li-ion batteries segment maintains its lead position during the forecast period
Based on application, the Li-ion batteries segment accounted for the largest share in 2022, contributing to around two-fifths of the global PVDF resin market revenue, and is projected to register the fastest CAGR of 8.0% during the forecast period. Governments worldwide are implementing policies and regulations to promote the adoption of electric vehicles and renewable energy sources. These initiatives include financial incentives, subsidies, and emission reduction targets. Such policies create a favorable market environment for Li-ion batteries, leading to increased demand for PVDF resin.
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The chemical processing industry segment maintained its lead position during the forecast period
Based on the end-use industry, the chemical processing industry accounted for the largest share in 2022, contributing to nearly one-third of the global PVDF resin market revenue, and is projected to rule the roost during the forecast period. PVDF resin has excellent resistance to a wide range of chemicals, including acids, solvents, halogens, and corrosive substances. These properties make PVDF resins highly desirable for applications involving the storage, handling, and transportation of aggressive chemicals. The automobile industry is projected to register the fastest CAGR of 8.6% during the forecasted period. PVDF resin is highly resistant to chemicals, fuels, and automotive fluids, making it suitable for manufacturing fuel lines and hoses. PVDF-based fuel lines offer excellent resistance to permeation, preventing the loss of fuel and the intrusion of outside contaminants. These fuel lines help maintain the integrity and safety of the automotive fuel system.
Asia-Pacific to maintain its dominance by 2032
Based on region, Asia-Pacific holds the largest market share in terms of revenue in 2022, accounting for more than three-fifths of the global PVDF resin market and is projected to register the highest CAGR of 7.8% during the forecast period. China is one of the largest consumers and producers of PVDF resin in the Asia-Pacific region. The developments in chemical processing, construction, and electrical industries in China drive the demand for PVDF resin. The growing chemical industry, especially in areas such as water treatment, pharmaceuticals, and specialty chemicals, drives the demand for PVDF resin.
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Leading Market Players: -
DAIKIN INDUSTRIES LTD.
SABIC
GUJARAT FLUOROCHEMICALS LIMITED
DONGYUE GROUP LIMITED
RTP COMPANY
3M COMPANY
SHANGHAI OFLUORINE CO. LIMITED
KUREHA CORPORATION
ARKEMA
SOLVAY
ZHEJIANG FOTECH INTERNATIONAL CO. LTD
The report provides a detailed analysis of these key players in the global PVDF resin market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the PVDF resin market analysis from 2022 to 2032 to identify the prevailing PVDF resin market opportunities.
Market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
An in-depth analysis of the PVDF resin market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
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