Polyvinylidene Fluoride Market- Segmentation
The Market Research Future Report provides an inclusive segmental analysis of the polyvinylidene fluoride market based on end use and resin type.
By resin type, the polyvinylidene fluoride market is segmented into delta, gamma, beta, and alpha phase.
By end use industry, the polyvinylidene fluoride market is segmented into pharmaceuticals, oil and gas, building and construction, electrical and electronics, chemicals, and others. Of these, the chemicals industry will lead the market over the forecast period. This will be followed by the electrical and electronics segment which is predicted to grow at a high CAGR over the forecast period.
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Key players profiled in the global polyvinylidene fluoride market report include ZHUZHOU HONGDA POLYMER MATERIALS CO., LTD (China), the Quadrant group of companies (Japan), Zhejiang Fotech International Co., Ltd. (China), KUREHA CORPORATION (Japan), Ofluorine Chemical Technology Co., LTD. (China), Solvay S.A (Belgium), Shanghai Sanai Fu New Material Co., Ltd. (China), DAIKIN INDUSTRIES, Ltd (Japan), 3M (Germany), and Arkema (France). Industry players have incorporated strategies such as mergers and acquisitions, strategic alliances, collaborations, new product launches and development, among others to create a niche in the market.
The Global Polyvinylidene Fluoride (PVDF) Market 2020 is poised to garner USD 1,169 Million by 2025 and is expected to generate it at a rate of 6.7%. Earlier, the market recorded revenue USD 746 Million that made it more demanding. The report of Market Research Future offers an extensive analysis of changing market dynamics according to the new scenario, a business performance due to the effect of COVID 19, industry headway, as well as the latest competitive circumstances.
Polyvinylidene Fluoride (PVDF) Market—Drivers & Trends
Global polyvinylidene fluoride market (PVDF) might witness growth from the rising demand for wire and cable insulation, semiconductors, and artificial membrane in biomedical science. PVDF and its applications are mostly in industrial processes and scientific research owing to its properties such as high thermal stability, membrane forming, and good chemical resistance. Other applications of PVDF include water treatment, pollutants removal, bioethanol recovery, gas separation, and gas separation. Thus, escalating applications mentioned above are possible to augment the polyvinylidene fluoride market growth in the analysis period.
MRFR finds that PVDF piping systems are environmentally resonance, chemical-resistant, easy to install, and cost-effective, which is again an imperative factor leading the market towards growth. Other than this, numerous properties exhibited by PVDF, such as chemical, corrosion, and heat resistance along with protein binding features are also paving its ways for use as a sterilizing filter in preparation of samples for high-performance liquid chromatography. This is also favouring the market towards elevated growth in the analysis period.
Furthermore, the growing biomedical industry on the rising expenditure on R&D for molecular diagnostics is also expected to have an affirmative impact on the market. PVDF has application in the fishing industry for manufacturing monofilament fishing lines as an alternative to nylon monofilament for exhibiting properties such as less dense and good hardness is also gaining much popularity, resulting in garnering the shares of the market in the coming years.
On the contrary, the impact of COVID-19 pandemic on the various end-user industry and its growth and the supply chain disruptions have posed as a hindrance in the development of the market studied for the forecasted period.
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Asia-Pacific led the global market with the majority of the consumption of polyvinylidene fluoride coming from ASEAN Countries, China, and Japan, among others.
The United States has also been witnessing strapping growth in the chemical industry, owing to improvement in major end-user markets. Thus, the region is leading to a rise in demand for chemicals. Access to abundant feedstock and energy resources has been further escalating the profitability of the domestic chemical industry. Such rewarding growth of the chemical industry in the country has attracted investment into the sector, which has resulted in the noteworthy chemical expansion and Greenfield projects in the country.
On a joint note, a significant boost in oil and gas offshore exploration and production activities can be essentially noticed in Asia-Pacific and North America, thus expanding the market base immensely.
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