$2.6 Billion PVDF Resin Markets - Global Opportunity Analysis and Industry Forecast, 2021-2030: High Performance Properties Coupled with Rise in Acceptance of PVDF Resin - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "PVDF Resin Market by Type of Crystalline Phase, Application, and End-user Industry: Global Opportunity Analysis and Industry Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.

The PVDF resin market size was valued at $1.0 billion in 2020, and is projected to reach $2.6 billion by 2030, growing at a CAGR of 8.2% from 2021 to 2030.

PVDF resin has outstanding performance qualities, including low thermal conductivity, high flame & heat resistance, and excellent chemical corrosion resistance. These factors drive its acceptability in end-use industry like electrical and construction throughout the forecast period. However, the threat of replacements, increase in environmental & health concerns, and variable raw material prices, could stifle market expansion throughout the forecast period.

Furthermore, the penetration of PVDF resin across automotive industry i.e., lithium-ion battery is expected to provide significant opportunities to the industry players across the value chain. Moreover, significant investment in R&D is anticipated to provide lucrative growth opportunities for the PVDF resin market.

On the basis of type of crystalline phase, the alpha phase of PVDF resin segment was the major revenue contributor in 2020, and is expected to continue its dominance during the forecast period, owing to increase in demand from electrical & electronics, chemical processing, and other industries. In addition, advantages of PVDF resins including ease of processing, non-polar conformation, insulation, excellent chemical resistance, low weight, and high mechanical strength are anticipated to drive the demand for PVDF resins.

On the basis of application, the Li-ion Batteries segment dominated the PVDF resin market in 2020, in terms of share, owing to increase in demand for resins from automotive industry as there is increased demand for Li-ion batteries from electronic vehicle. In addition, increase in demand for energy storage systems is anticipated to witness the rise in demand for PVDF resin during the forecast period.

On the basis of end-user industry, the chemical processing industry dominated the PVDF resin market by accounting for the highest revenue in 2020. This is attributed to increase in utilization of PVDF resins in chemical processing components.

The PVDF resin market share is analyzed across significant regions and countries. Asia-Pacific accounted for the dominant PVDF resin market share in 2020, and is anticipated to maintain its dominance during the forecast period. This is attributed to numerous factors such as huge consumer base and presence of key players in the region.

In addition, emerging applications such as photovoltaic modules, lithium-ion batteries, and special films for architectural & automotive glazing are the main drivers for market growth in this region. Furthermore, more than 55.1% of the total Asia-Pacific PVDF resin market share in terms of value is from the highest PVDF resin production countries such as China and India.

The PVDF resin market analysis covers in-depth information of the major industry participants. The key players operating and profiled in the report include Arkema S.A., Daikin Industries, Ltd., Kureha Corporation, RTP Company, Inc., Shanghai Huayi 3F New Materials Co., Ltd., Shanghai Ofluorine Co., Limited, Solvay SA, 3M, Zhejiang Fotech International Co., Ltd., and Zhuzhou Hongda Polymer Materials Co., Ltd.

Other players operating in the PVDF resin market are Agiplast, SKC, Sinochem Lantian, and Dongyue Group.

Key Findings Of The Study

• By type of crystalline phase, the alpha segment emerged as the global leader by acquiring around 621% market share in 2020 in terms of revenue, and is anticipated to be the largest market during the forecast period
• On the basis of application, the Li-ion batteries segment emerged as the global leader, registering 400% market share in 2020 in terms of revenue, and is anticipated to continue its dominance during the forecast period
• Depending on end-use industry, the chemical processing segment emerged as the global leader, registering 299% market share in 2020 in terms of revenue, and is anticipated to continue its dominance during the forecast period
• Region wise, Asia-Pacific is the major consumer of PVDF resin among other regions. It accounted for around 551% of the global market share in 2020 as a result of rapid growth in the chemical processing, automotive, electronics and construction sectors across the region
• The PVDF resin market size is provided in terms of tons and $million

Market Dynamics

Drivers

• Key Strategic Developments
• Rise in Demand from End-users
• High Performance Properties Coupled With Rise in Acceptance of PVDF Resin

Restraint

• Environmental & Health Concerns Coupled With Volatile Raw Material Prices
• High Threat of Substitutes

Opportunities

• Government Initiatives & Investment in the Renewable Energy Sector
• The Use of Alpha Promoted by the Government in APAC

Challenges

• Low Awareness Among the People About Supplementary Cementitious Material

For more information about this report visit https://www.researchandmarkets.com/r/oxgx2z