Polyvinylidene Fluoride (PVDF) Market

Market Overview

The global polyvinylidene fluoride (PVDF) market size was valued at USD 55,655.5 million in 2022. It is expected to reach USD 317,118.7 million by 2031, growing at a CAGR of 21.33% during the forecast period (2023–2031).

A thermoplastic fluoropolymer with a very low reactivity is polyvinylidene fluoride (PVDF). Most alcohols, acids, chlorinated solvents, and aromatic and aliphatic organic compounds are chemically inert to it. It has features like excellent intrinsic fire resistance, low coefficient of friction, operability over a wide temperature range, good UV resistance, thermoforming capability, and ease of welding assembly. There are several ways to process polyvinylidene fluoride, including extrusion, injection, and machining. PVDF is extensively utilized in photovoltaic films, lithium-ion batteries, and coatings. It offers the highest purity and is resistant to bases and solvent acids. Due to its flexibility, low weight, low thermal conductivity, high chemical corrosion resistance, and heat resistance, PVDF is frequently used as insulation on electrical wires.

Market Dynamics

Global Polyvinylidene Fluoride (PVDF) Market Drivers

Rising Demand from the Electronic and Electrical Industry

Polyvinylidene fluoride (PVDF) is frequently used as electrical wire insulation in the electrical and electronics industries due to its flexibility, low thermal conductivity, low weight, high chemical corrosion resistance, and heat resistance. The market for PVDF is being driven by its widespread use in high-purity semiconductor applications. In addition, due to the abundance of OEMs in the Asia-Pacific region, the market for electronics manufacturing is anticipated to expand quickly in the coming years. Low prices, a ready supply of raw materials, and inexpensive labor have contributed to the sector's expansion. The businesses in the area offer German, French, and American manufacturing and assembly services.

Additionally, in order to achieve end-to-end operation integration, these businesses are rapidly digitizing their operations. This has further prompted North American and European OEMs to outsource their manufacturing to the Asia-Pacific region. Due to the high demand from nations like China and India, the Asia-Pacific electronic industry has recently experienced rapid growth. More than 70% of the world's electronics are produced in the Asia-Pacific region, where nations like South Korea, Japan, and China actively produce different electrical components and supply them to different industries worldwide. This is expected to drive market growth over the forecast period.

More Desirable Properties Compared to other Fluoropolymers

PVDF has grown to be one of the most widely used fluoropolymers due to several unique properties. For instance, PVDF is better suited for manipulation during pre- and post-processing before being used in coating applications because it is more melt-processable. This means PVDF is more suitable for commercialization than other fluoropolymers like polytetrafluoroethylene (PTFE). Additionally, compared to PTFE, PVDF has higher electrical resistivity and strength to weight (bonding points). PVDF is also more resistant to abrasion, making it suitable for piping and pumping applications. As a result, PVDF's advantageous physical, mechanical, and chemical properties are its main driving forces and the reason it is the most popular fluoropolymer in many applications.

Global Polyvinylidene Fluoride (PVDF) Market Restraints

Negative Impact due to Declining Auto Production

PVDF is utilized in the automobile sector for wiring insulation, plastic optical fibers, fuel transfer systems, and coatings due to its many advantages, including impenetrability, chemical resistance, electrical resistivity, and coatings. However, after a positive period of growth over the previous ten years until 2017, global automobile production began to experience a declining trend in 2018. Due to the declining demand and the politically uncertain environment brought on by Brexit and the US-China trade war, production decreased by about 5.2% in 2019 compared to 2018. The number of automobiles produced worldwide fell by roughly 16% in 2020 to 77,621,582 units.

In addition, 2020 saw a 2% decline in automotive production in China, the world's top producer of vehicles. This was primarily because of the COVID-19 pandemic and the shutdown of manufacturing facilities. As sales and demand for automobiles decline, investments in the automotive industry for the construction of new plants and capacity expansion have also decreased. However, in the years to come, the negative effects brought on by the declining auto production are likely lessened by the growing production and sales of electric vehicles.

Global Polyvinylidene Fluoride (PVDF) Market Opportunities

Technological Advancements

Recent technological improvements have made it possible to increase PVDF consumption in several specialized applications. Although PVDF has the suitable physicochemical characteristics to be used in wastewater reuse filtration membranes, its application has been severely hampered by PVDF membrane fouling. In order to tackle this, a new kind of PVDF membrane with ZnO nanoparticles was created by Huazhong Agricultural University and Ningbo Institute of Innovation Research in December 2019. Due to their increased specific surface area and increased surface reactivity brought on by their smaller particle size, ZnO nanoparticles (NPs) exhibit desirable antibacterial properties. This gives rise to antibacterial properties and prevents membrane biofouling.

Energy harvesting is one promising area for creating sustainable energy sources from the surrounding environment. Due to its exceptional qualities, including ease of processing, long-term stability, high flexibility, and biocompatibility, PVDF and its copolymers are being investigated for piezoelectric materials in developing energy harvesting devices. Additionally, work is still being done to develop PVDF to use piezoelectric materials in wearable, flexible, and medical devices. The market will likely experience significant growth opportunities thanks to technological developments.

Segmental Analysis

The global polyvinylidene fluoride (PVDF) market is segmented by application and end-user industry.

Based on the application, the global polyvinylidene fluoride (PVDF) market is bifurcated into pipes and fittings, films and sheets, wires and semiconductor processing, coatings, membranes, and Li-ion batteries.

The Li-ion segment is the highest contributor to the market and is expected to grow at a CAGR of 41.78% during the forecast period. In order to maintain a high current output over a much longer period between charges, lithium-ion batteries are used in various applications, including power backup/UPS, mobile devices, laptops, and other widely used consumer electronics. As a result, it is the ideal battery for most modern needs. Lithium-ion batteries can help people stay mobile and spend little time tethered to a charging cord as they use their mobile devices and laptops more frequently. For all types of electric vehicles, such as hybrid electric vehicles (HEVs), plug-in hybrid electric vehicles (PHEVs), and all-electric vehicles (EVs), energy storage systems, typically batteries, are necessary. Additionally, these batteries have a high power-to-weight ratio, high energy efficiency, high-temperature performance, and low self-discharge, leading to a rapid rise in their use in electric vehicles.

PVDF is mainly employed in wire and cable isolation because of its high dielectric constant and dissipation considerations. It can be used in various electronic devices, particularly as a jacketing material for plenum-rated cable used in voice and video devices and alarm systems. PVDF's low flame spread and smoke generation are significant assets in these applications. Additionally, cross-linked radiation polyalkene and PVDF cables are combined to create a product that combines the distinct physical and electrical properties of polyalkene with the chemical properties of PVDF. The finished product has properties like small size, light weight, resistance to solder iron, and resistance to most solvents, fuels, and lubricants, and it can withstand temperatures up to 150°C.

Furthermore, the semiconductor industry is one more significant industrial application for PVDF. PVDF is the ideal material for the semiconductor industry because of its high purity. Equipment used to process wafers in the industry is frequently exposed to extremely aggressive chemicals. The PVDF is perfect for distribution lines, storage tanks, valves, nozzles, protective coatings, and linings because of its high strength and excellent chemical resistance. Additionally, it is anticipated that the recent surge in interest in semiconductor-based technologies will increase demand for the market under study.

Based on the end-user industry, the global polyvinylidene fluoride (PVDF) market is bifurcated into oil and gas, electrical and electronics, chemical processing, automotive and processing, aerospace and defense, and building and construction.

The automotive and processing segment owns the highest market share and is expected to grow at a CAGR of 38.82% during the forecast period. PVDF's superior qualities, including impenetrability and chemical resistance, support its use in automobile fuel delivery systems. Manufacturing a multi-layer fuel line uses a layer of this fluoropolymer, which increases the hose's strength, permeation resistance, and durability. In addition, PVDF coatings protect against environmental hazards like acid rain, hot and cold shocks, stone chips, UV radiation, car washing, blowing sand, and sunlight and material corrosion. These coatings are applied to brake tubes as protection and as decorative films. PVDF has also demonstrated excellent performance as plastic optical fibers and wiring insulation in the production of automobiles.

PVDF is used in stock shapes, tubing, molding, piping, tower packing, filters, and compounds in the pesticide and chemical processing industries. The chemical processing industry uses PVDF in various applications because of its high heat resistance, low permeability, high mechanical strength, and tolerance to heat, pressure, harsh chemicals, mechanical stress, and abrasive particles. The main areas where PVDF is used in the chemical processing industry are chemical production, transport and storage systems, filtration, separation equipment (filters, membranes, and housings), and heat exchangers. Additionally, PVDF is used to create gas sampling bags to preserve the inert environment and resist aggressive gas penetration. Diaphragms for pumps and filters, primarily used in the chemical process industry (CPI) applications, are made using PVDF films and other PVDF applications.

Regional Analysis

By region, the global polyvinylidene fluoride (PVDF) market is segmented into North America, Europe, Asia-Pacific, South America, and the Middle East and Africa.

Asia-Pacific Dominates the Global Market

Asia-Pacific is the most significant contributor to the global polyvinylidene fluoride (PVDF) market and is expected to grow at a CAGR of 26.39% during the forecast period. China has the largest economy in the Asia-Pacific region in terms of GDP. Even with the trade disruption brought on by its trade war with the United States, the country's GDP grew by about 6.1% in 2019. In addition, China's real GDP increased by 2.3% in 2020 and 8% in 2021, mainly due to a recovery in post-pandemic consumer spending. According to the IMF forecast, it was anticipated to grow by 5.6% in 2022. The world's most prominent location for the manufacture of electronics in China.

Further, the electronics sector saw the fastest growth in goods like smartphones, TVs, and other personal devices. The nation produces electronics to meet domestic demand and exports them to other nations. China is one of the biggest markets for domestic air travelers and one of the biggest aircraft manufacturers. With more than 200 small aircraft parts manufacturers, the nation's manufacturing sector for aircraft parts and assemblies has expanded quickly. The 7,690 new aircraft that the Chinese airline companies intend to buy over the next 20 years, with an estimated USD 1.2 trillion market value, are expected to increase PVDF demand in the nation.

North America is expected to grow at a CAGR of 17.94% during the forecast period. One of the world's biggest and most potent economies is that of the United States. Given its size, the US electronics market is the biggest in the world and one of the key potential growth areas for the market under investigation. Due to the use of cutting-edge technology, an increase in the number of R&D facilities, and rising consumer demand, it is also anticipated that it will continue to be the largest market over the forecast period. There is a substantial need for newer and quicker electronic devices due to the rapid speed of innovation, the advancement of technology, and R&D efforts in the electronics industry. In addition, the emphasis on creating high-end products has led to a significant increase in the number of manufacturing facilities and development hubs in the United States. These factors are expected to drive regional market growth.

Germany is the largest country in Europe in terms of GDP consumption. In the European Union, Germany ranks first for its crude oil consumption and second for natural gas. About 95% of the nation's natural gas consumption and 98% of its crude oil come from imports. In addition, Germany has the second-largest crude oil refining capacity in the European Union, with a total of 2.1 million b/d, despite having negligible domestic oil production that accounts for only about 2% of oil consumption. The past few years have seen a decline in refinery throughput, likely affecting market expansion. Furthermore, many chemical companies, including BASF SE, Evonik, and others, are based in Germany, a significant chemical powerhouse. These factors are expected to create tremendous opportunities for regional market growth.

The past few years have seen slow economic growth in Brazil. In the upcoming years, the electronics industry is expected to grow slowly. However, Brazil is home to some of the continent's biggest electronics production facilities. Numerous significant electronics manufacturers, including Samsung, LG, Foxconn, Dell, Multilaser, Positivo, AOC, Lenovo, and the Leadership Group, have extensive manufacturing facilities in the nation. In addition, investments and new developments may raise the need for more packaging materials, impacting the nation's demand for PVDF. The country's chemical industry has not fully recovered from the economic downturn and other market difficulties. Formerly the sixth-largest market in the world, the Brazilian chemical industry is now the eighth-largest. However, other factors have been impacting the performance of the domestic chemical industry, such as high raw material costs, a lack of infrastructure and logistics, labor training, and R&D investment.

Saudi Arabia has robust government control over all the main economic activities and an oil-based economy. The second-largest proven oil reserves in the world are found in Saudi Arabia. The nation is anticipated to keep increasing its oil and gas production volume to fulfill its export commitments. The Saudi government receives about 60% of its income from oil. More than 90 pipelines and 12,000 miles of crude oil and petroleum product pipelines are operated by Saudi Aramco, which controls most of the nation's oil and gas operations.

Additionally, the Gulf Petrochemicals and Chemicals Association (GPCA) predicts that Saudi Arabia's petrochemical production capacity will continue to grow at a rate of 2.7% per year to reach 147.5 million metric tons by 2027. The petrochemical industry is expected to see a lot of investments and partnerships soon. For instance, the French oil company Total and Saudi Aramco agreed to invest USD 5 billion in constructing a massive petrochemical complex. These will probably present opportunities for the PVDF market to expand in the upcoming years.

Recent Developments

• November 2022- Solvay and Orbia will produce the battery binder PVDF in the US. The USD 850 million PVDF project includes raw materials processing.
• September 2022- US scientists tested PV modules built with back sheets and polyvinylidene-fluoride (PVDF) layers to replicate the material's degradation in the accelerated testing field. By exposing the modules to multiple stresses, they were able to cause degradation in the back sheet materials.

Polyvinylidene Fluoride (PVDF) Market Segmentation

By Applications

• Pipes and Fittings
• Films and Sheets
• Wires and Semiconductor Processing
• Coatings
• Membranes
• Li-ion Batteries

By End-User Industry

• Oil and Gas
• Electrical and Electronics
• Chemical Processing
• Automotive and Processing
• Aerospace and Defense
• Building and Construction

By Regions

• North America
• Europe
• Asia-Pacific
• South America
• The Middle East and Africa