by Polyvinylidene fluoride (PVDF) is a fluoropolymer used in various applications owing to its excellent properties such as flexibility, chemical and corrosion resistance, weatherability, and dimensional stability. PVDF has good dielectric properties and is used as a material in polymer jacketed power cables and wire coatings. It is also used in architectural coatings due to its color retention properties. Growing demand for PVDF in architectural coatings, chemical processing equipment, and lithium-ion batteries is expected to drive market growth over the forecast period.
The Global Polyvinylidene Fluoride Market is estimated to be valued at US$ 1541.69 Mn in 2024 and is expected to exhibit a CAGR of 4% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Polyvinylidene fluoride market are Depuy Synthes (Johnson & Johnson), Zimmer Biomet Holdings, Inc., MicroPort Scientific Corporation, Conformis Inc., Corin Group, Exactech Inc., DJO LLC. (Colfax Corporation), Medacta International, Smith & Nephew plc, Stryker Corporation, Baumer SA, SurgTech Inc., and Meril Life Sciences Pvt. Ltd. Demand from end-use industries such as construction, chemical processing, and energy storage is expected to propel market growth during the forecast period. Increased demand for Polyvinylidene Fluoride Market Size from developing regions of Asia Pacific and Latin America is anticipated to drive regional market expansion over the next few years.
Market Key Trends
One of the key trends gaining traction in the polyvinylidene fluoride market is its increasing use in lithium-ion batteries. PVDF is used as a binder in lithium-ion battery cathodes and anodes owing to its good thermal stability and flexibility. Rapid growth of the electric vehicles industry is fueling the demand for lithium-ion batteries which in turn is expected to drive PVDF consumption. PVDF is also finding increasing applications in lightweight composite materials used in the aerospace and automotive industries due to its high strength to weight ratio. Growing demand from these end-use industries is projected to offer lucrative opportunities over the forecast period.
Porter’s Analysis
Threat of new entrants: The polyvinylidene fluoride market requires high investment for R&D and production facilities. Established players have economies of scale and brand recognition giving them an advantage over new entrants.
Bargaining power of buyers: The polyvinylidene fluoride market has large buyers such as the medical devices and aerospace industries who can negotiate lower prices. However, differentiated properties of PVDF over other polymers gives some pricing power to suppliers.
Bargaining power of suppliers: Few manufacturers globally have the expertise and equipment to produce PVDF. This gives existing suppliers strong influence over prices. However, abundant availability of raw materials limits their power.
Threat of new substitutes: Alternatives like polypropylene and PTFE are substitutable but have disadvantages in properties like chemical resistance and dielectric strength. This reduces threat from substitutes.
Competitive rivalry: The global PVDF market is dominated by large players. Intense competition is witnessed based on product quality, reliability and pricing.
Geographical Regions:
North America leads the PVDF market in terms of value owing to large demand from medical device and pharmaceutical industries in the US and Canada.
The Asia Pacific region is expected to be the fastest growing market during the forecast period due to rising PVDF consumption in China, India, Japan and Southeast Asian nations driven by growth in industries like electronics and construction.
