PVDF Resin Market Expected to Reach $4.6 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “PVDF Resin Market," The pvdf resin market was valued at $2.2 billion in 2022, and is estimated to reach $4.6 billion by 2032, growing at a CAGR of 7.6% from 2023 to 2032.

Polyvinylidene fluoride (PVDF) resin is a highly versatile and widely used polymer with various applications in different industries. PVDF is a thermoplastic fluoropolymer that possesses exceptional chemical resistance, high thermal stability, and excellent mechanical properties. It is derived from the polymerization of vinylidene fluoride monomers. One of the key properties of PVDF resin is its chemical resistance. It exhibits excellent resistance to a wide range of chemicals, including acids, bases, solvents, and oils. This makes it suitable for applications in harsh environments where exposure to corrosive substances is common.

PVDF also has low water absorption, which further enhances its resistance to moisture and water-based solutions. PVDF resin is known for its excellent electrical properties. It has a high dielectric strength, low dielectric constant, and low dissipation factor, making it ideal for electrical insulation applications. PVDF is used in the production of wires and cables, connectors, capacitors, and other electrical components where reliable insulation and high-performance electrical properties are required.

The rise in demand for PVDF resin-based coatings in the chemical processing and building & construction industries due to their superior UV, abrasion, and chemical resistance drives the growth of the global PVDF resins market. In addition, increased demand for PVDF pipe and fittings to transport corrosive fluids in industries such as oil & gas is expected to drive the need for PVDF resins during the forecast period. Under high pressure and vacuum, PVDF liners provide superior corrosion resistance and mechanical strength.

PVDF-resin-based pipe liners avoid the need of harmful corrosion inhibitors and limit heat loss, which reduces the chances of pipe buckling, and lower pumping costs, resulting in up to a 25% cost savings. Rise in demand for polyvinylidene fluoride (PVDF) in lithium-ion battery separator coatings and electrode formulation is anticipated to drive the growth of the global PVDF resins market. PVDF resins are widely used in the lithium battery industry as a binder in electrode formulation and separator coatings. PVDF enhances the efficiency of energy storage and reduces the weight of batteries in electric vehicles and consumer devices.

However, the high cost of transporting raw materials such as vinyldiene fluoride (VF2) due to high flammability is expected to restrain the market growth during the forecast period. In addition, PVDF faces significant competition from thermoplastics including PEEK, PTFE, and PVA. These alternatives are commonly available and cheaper than PVDF, which limits the market growth during the forecast period. 

Furthermore, the penetration of PVDF resin across new energies, oil & gas, automotive, and aviation industries 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 market.

The increase in demand for chemical processing and manufacturing activities across various sectors, such as the chemical, pharmaceutical, water treatment, and semiconductor industries, is driving the demand for PVDF resin. As industrial processes become advanced and complex, there is a growing need for materials that may withstand harsh chemical environments while maintaining their performance and reliability.

PVDF resin has emerged as a preferred choice for such applications, leading to its increasing demand in the industrial sector. PVDF pipes and fittings are commonly used in pharmaceutical grade water systems, acid distribution systems, chemical applications, UPW and HUPW (Hot) ultrapure water return loops in microelectronics, and ozone, steam, or hot water sanitization globally. PVDF pipes are also used in the chemical processing, building and construction, and oil & gas industries.

In addition, the growth of commercial and residential buildings, as well as the increase in infrastructure development, is expected to stimulate the growth of the industry considered in the near future. All these factors are anticipated to drive the demand for pipes and fittings and propel the PVDF resin market during the forecast period.

The PVDF resin market is segmented into type of crystalline phase, application, end-use industry, and region. By type of crystalline phase, the market is classified into alpha, beta, gamma, and delta. By application, the market is divided into pipes and fittings, films and sheets, coatings, membranes, wire and cable, Li-ion Batteries and others. By end-use industry, the market is categorized into chemical processing, electrical and electronics, building and construction, oil and gas, automotive, and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA

The global PVDF resin market analysis covers in-depth information of the major industry participants. The key players operating and profiled in the report include 3M Company, Arkema, Daikin Industries Ltd., Dongyue Group Limited, Gujarat fluorochemicals limited, Kureha Corporation, RTP Company, SABIC, Shanghai Ofluorine Co. Limited, Solvay and Zhejiang Fotech International Co. Ltd. Other players operating in the PVDF resin market are Agiplast, SKC, Sinochem Lantian, and Dongyue Group.

Key findings of the study:

• On the basis of the type of crystalline phase, the alpha segment is expected to grow at a CAGR of 7.8 % in terms of revenue during the forecast period.
• On the basis of application, the Li-ion batteries segment is expected to grow at a CAGR of 8.0 % in terms of revenue during the forecast period.
• On the basis of the end-use industry, the automotive segment is expected to grow at a CAGR of 8.6 % in terms of revenue during the forecast period.