by The global Polyvinylidene Fluoride Market is estimated to be valued at Us$ 1338.27 Mn in 2023 and is expected to exhibit a CAGR Of 6.0% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Polyvinylidene fluoride (PVDF) is a highly non-reactive thermoplastic fluoropolymer. It has outstanding properties such as excellent chemical resistance, thermal stability, weatherability, and flame retardancy. Due to these properties, PVDF finds wide applications as coatings and linings for the chemical processing industry. It is also used in membranes for water filtration and separation processes. The excellent chemical resistance and thermal stability of PVDF make it an ideal material for membrane applications in water treatment, especially for reverse osmosis, microfiltration, and ultrafiltration. Growing demand for clean water from industries and municipalities is driving the demand for PVDF membranes, fueling the market growth.
Market key trends:
The major trend in the PVDF market is the growing demand for membranes from developing economies. Developing countries in Asia Pacific and Latin America are investing heavily in water treatment infrastructure to meet growing industrial and domestic water needs. The demand for PVDF membranes from industries such as food & beverage, pharmaceuticals, power, and oil & gas is also on the rise in these regions. Various membrane manufacturers are focusing on developing innovative PVDF membrane technologies for various separation processes. For instance, new PVDF membranes with superior hydrophilicity and permeability are being developed for application in forward osmosis for water desalination and wastewater treatment. Development of such advanced PVDF membrane technologies is expected to drive their adoption, thus supporting market growth over the forecast period.
Porter’s Analysis
Threat of new entrants: The polyvinylidene fluoride market requires high initial capital investments for R&D and manufacturing facilities which limits the threat of new entrants.
Bargaining power of buyers: The bargaining power of buyers is moderate as there are numerous established manufacturers supplying PVDF globally. However, buyers can negotiate on pricing and demand innovative solutions.
Bargaining power of suppliers: A few suppliers dominate the supply of key raw materials like vinylidene fluoride used in PVDF manufacturing. This gives them moderate bargaining power over buyers.
Threat of new substitutes: Alternatives like polytetrafluoroethylene offer competition but PVDF remains preferred for its superior properties in applications facing harsh environments and chemicals.
Competitive rivalry: The market has few global players and multiple regional competitors. Intense competition keeps pricing pressures and encourages product innovations.
Key Takeaways
The Global Polyvinylidene Fluoride Market Demand is expected to witness high growth, exhibiting CAGR of 6.0% over the forecast period, due to increasing demand from end-use industries like construction, automotive, and healthcare.
Regional analysis:
Asia Pacific dominates the global market and is expected to maintain its lead position during the forecast period. This is attributed to high growth of end-use industries in China, India, Japan, and South Korea. North America and Europe are also significant regional markets for PVDF.
Key players:
Key players operating in the polyvinylidene fluoride market are 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.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
