The Global Polyvinylidene Fluoride (PVDF) Market size is evaluated at USD 878 million in 2020 and is projected to register a CAGR of over 4. 5% during the forecast period (2021-2026). COVID-19 pandemic in 2020 has negatively affected the market demand due to the lockdown and shutdown of manufacturing plants.
New York, Dec. 01, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Polyvinylidene Fluoride (PVDF) Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" - https://www.reportlinker.com/p06126846/?utm_source=GNW
For instance, according to the International Organization of Motor Vehicle Manufacturers (OICA), automobile production declined by around 16%, majorly due to COVID-19, and the declining trend since 2018 continues. Aircraft production has seen the worst year in the past decade. Various new aircraft orders have been canceled/postponed due to the losses incurred in the businesses. In 2020, customers canceled orders of more than 600 of Boeing’s jetliners. Also, Airbus saw similar suffering in 2020 with the delivery of 566 planes which is 34% lower compared to 2019.
Over the medium term, factors driving the growth of the market studied are desirable properties of PVDF in comparison to other fluoropolymers, increasing demand of PVDF-based materials from the military and aerospace sector, and increasing demand for PVDF resins as a binder in lithium-ion battery manufacturing.
On the flip side, the impact of COVID-19 pandemic on the various end-user industry’s growth and the supply chain disruptions may hinder the growth of the market studied.
Asia-Pacific dominated the global market with the majority of the consumption coming from China, ASEAN Countries, and Japan, among others.
Key Market Trends
Wires & Semiconductor Processing Segment Dominated the Market
PVDF is primarily used in wire and cables isolation due to its high dielectric constant and dissipation factors. Moreover, PVDF cables are combined with radiation cross-linked polyalkene to derive a product that can have the unique physical and electrical characteristics of polyalkene, and the chemical properties of PVDF combined at the same time.
The product, thus, obtained qualities, such as small-size, light-weight, solder iron resistance, resistance to most solvents, fuels, lubricants, and can sustain even a temperature as high as 150°C.
These cables are initially developed for aerospace and defense applications but are later used in a wide range of applications in commercial and military electronics, avionics, satellites, aircraft, helicopters, ships, trains, and offshore platforms, where environmental conditions constantly demand trustworthy performance.
With increasing aerospace and defense equipment manufacturing, the demand for PVDF is also rapidly rising in the wire and cable industry, as electronics assembly represents one of the major industries in Southeast Asian countries. This is, in turn, likely to propel the demand for the studied market in the Asia-Pacific region on the whole.
The global consumer electronics industry has been growing rapidly across the world over the years, owing to the consistently increasing demand for cellular phones, portable computing devices, gaming systems, and other personal electronic devices.
The Asia-Pacific electronic industry grew rapidly in the recent past, owing to the high demand from countries like India and China. The Indian electronics market is expected to reach USD 400 billion by 2025. Additionally, India is expected to become the world’s fifth-largest consumer electronics and appliances industry by 2025.
However, the slowing down of R&D activities due to the economic slowdown and the lockdown imposed due to the outbreak of COVID-19 are expected to negatively impact the growth of the electronics and telecommunication industry in the short term, thereby having an adverse effect on the market studied.
Asia-Pacific Region to Dominate the Market
In the Asia-Pacific region, China is the largest economy in terms of GDP. The country witnessed about 6.1% growth in its GDP during 2019, even after the trade disturbance caused due to its trade war with the United States. The economic growth rate of China in 2020 was initially expected to be moderate as compared to the previous year. However, due to the onset of COVID-19 in 2020, the economic growth of China witnessed a contraction to 2.3%, and it is expected to witness recovery at a rate of 8.40% in 2021
Polyvinylidene fluoride (PVDF) coatings are widely being used in the construction industry, owing to its long lastivity and other wide range of applications. The construction industry grew at a strong pace in 2020, but the growth was restricted due to the pandemic situation. The construction sector has supported the economic growth in the country whenever major slowdowns occurred. The country has the largest construction market in the world, encompassing 20% of all construction investments, globally. China is expected to spend nearly USD 13 trillion on buildings by 2030, creating a positive market outlook.
The demographics in the country is expected to continually spur the growth of residential construction. The rising household income levels and the rising number of people migrating from rural to urban areas are expected to continue to drive the demand for the residential construction sector in the country. The increased focus on affordable housing by the public and the private sector may drive growth in the residential construction sector, which is likely to drive the market demand.
China has been majorly driven by ample developments in the residential and commercial construction sectors and supported by the growing economy. In China, the housing authorities of Hong Kong launched several measures to push-start the construction of low-cost housing. The officials aim to provide 301,000 public housing units by 2030. Such growth in the construction industry is likely to propel the market demand.
With an increase in disposable incomes of the middle-class population, the demand for electronic products is projected to increase in the future. This factor is expected to drive the market studied.
According to Statista, revenue in the consumer electronics segment is projected to reach USD 162,038 million in 2021. The revenue is expected to show an annual growth rate of 2.04%, resulting in a projected market volume of USD 175,670 million by 2025
Thus the growth in various end-user industries is, in turn, boosting the demand for PVDF for various applications.
The global PVDF market is consolidated, and the top four players accounted for a market share of over 90% of the global market. Key players in the PVDF market include SABIC, Arkema Group, Solvay, Kureha Corporation, and Dyneon LLC (3M Company), among others.
The market estimate (ME) sheet in Excel format
3 months of analyst support
Read the full report: https://www.reportlinker.com/p06126846/?utm_source=GNW
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
CONTACT: Clare: firstname.lastname@example.org US: (339)-368-6001 Intl: +1 339-368-6001