Renewable PVDF Market

Renewable PVDF Market Segmentation by Product Type (Film, Tube, Sheet, Plate, and Others); by End User (Automotive, Chemical, Pharmaceutical, Construction, Semiconductor, Aerospace and Defense, Water Treatment, and Others) – Global Demand Analysis & Opportunity Outlook 2030

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Report ID: 3488 | Published On: Feb 08, 2023

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Despite Inflation & Recession News, Businesses Across the Globe Expected to Do Better in 2023

In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.


In The News

  • November 26, 2019- Solvay reinforced its leadership in the lithium-ion battery market by more than doubling the production capacity of high-performance polymer SOLEF PVDF at its production site in the city of Changhsu in China.

Global Renewable PVDF Market Highlights 2022 – 2030

The global renewable PVDF market is estimated to gather a sizeable revenue by growing at a ~9% CAGR over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the growing production of electric vehicles around the world, and rising demand for lithium-ion batteries in automotive applications. For instance, as per the International Energy Agency, the sales of electric vehicles increased up to 2.1 million globally in 2019, and the stock rose up to 7.2 million electric cars. Along with these, rising investments in renewable energy in developed and developing nations, and enforcement of strict regulations regarding conventional crude oil derived polymers, are also expected to drive market growth in the coming years. Furthermore, PVDF has exceptional abrasion and radiation resistance, along with being highly melt processable, which is also predicted to expand its market in the imminent time.

Renewable PVDF Market Graph

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The market is segmented by end user into automotive, chemical, pharmaceutical, construction, semiconductor, aerospace and defense, water treatment, and others, out of which, the aerospace and defense segment is anticipated to hold the largest share in the global renewable PVDF market on account of the fact that several airplane parts such as rotors and engines require hard and weather resistant coatings. In addition, as PVDF coatings can withstand high temperatures, they are extensively used in the aerospace industry, which in turn is predicted to drive growth to the market segment in the future. Moreover, on the basis of product type, the tube segment is predicted to grab the largest share over the forecast period owing to the ease of installation, high cost-effectiveness, and superior chemical resistance of this product.

Electricity Consumption Graph

In 2018, the world’s total energy supply was 14282 Mtoe, wherein the highest share in terms of source was captured by oil, accounting for 31.6%, followed by coal (26.9%), natural gas (22.8%), biofuels and waste (9.3%), nuclear (4.9%), hydro (2.5%), and other (2.0%). Where there was an increase in energy demand in 2018, the year 2019 witnessed slow growth as the energy efficiency improved owing to decline in the demand for cooling and heating. However, in 2020, the electricity demand decreased by 2.5% in the first quarter of 2020 due to the outbreak of Coronavirus resulting in government-imposed shutdowns in order to limit the spread of the virus, which was further followed by shutdown of numerous business operations impacting their growth. This also resulted in decline of 5.8% in the worldwide CO2 emissions which was recorded to be five times larger than the one recorded during the global financial crisis in 2009. However, in 2021, the demand for oil, gas and coal is estimated to witness growth, which is further projected to create opportunities for market growth. Moreover, rising environment degradation and awareness related to climate change is motivating many key players to employ sustainable energy strategies and invest significantly in environment-friendly power generation technologies with an aim to promote sustainable development among various nations around the world. Such factors are anticipated to promote the growth of the market in upcoming years.


Global Renewable PVDF Market Regional Synopsis

On the basis of geographical analysis, the global renewable PVDF market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in the Asia Pacific is estimated to witness noteworthy growth over the forecast period on the back of the increasing demand for smart gadgets and other smart electronic devices in India and China, and rising consumer base of renewable PVDF in the region. Apart from these, growing construction activities and rising energy demand are also predicted to drive the region’s market growth in the future. Electricity consumption per capita reached 860 kWh in 2020, around the two thirds of the Asian average. Due to the Covid-19 crisis, total energy consumption fell by 3.4% in 2020 to 908 Mtoe. Additionally, the market in North America is assessed to acquire the largest share during the forecast period, which can be credited to the growing development of innovative products and strong presence of lithium-ion battery manufacturers in the region.

The global renewable PVDF market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis


Market Segmentation

Our in-depth analysis of the global renewable PVDF market includes the following segments:

By Product Type

  • Film
  • Tube
  • Sheet
  • Plate
  • Others

By End User

  • Automotive
  • Chemical
  • Pharmaceutical
  • Construction
  • Semiconductor
  • Aerospace and Defense
  • Water Treatment
  • Others

Growth Drivers

  • Growing Production of Electric Vehicles Around the World
  • Rising Demand for Lithium-Ion Batteries in Automotive Applications

Challenges

  • Fluctuating Prices of Raw Materials to Make Renewable PVDF


Renewable PVDF Market Graph
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Electricity Consumption Graph
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Top Featured Companies Dominating the Market

    • Solvay SA
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis 
    • Daikin Industries Ltd.
    • Kureha Corporation
    • 3M Company
    • Dyneon GmbH
    • Shanghai Oflourine Chemical Technology Co. Ltd.
    • Quadrant Engineering Plastics Products Inc.
    • Zhuzhou Hongda Polymer Materials Co. Ltd.
    • Arkema S.A.
    • Saudi Basic Industries Corporation

Key Questions Answered in the Report

1) What are the major factors driving the growth of the renewable PVDF market?

Ans: The major factors driving market growth are growing production of electric vehicles around the world and rising demand for lithium-ion batteries in automotive applications.

2) What would be the CAGR of renewable PVDF market over the forecast period?

Ans: The market is anticipated to attain a CAGR of ~9% over the forecast period, i.e., 2022 – 2030.

3) What are the challenges affecting the renewable PVDF market growth?

Ans: Fluctuating prices of raw materials to make renewable PVDF is estimated to hamper the market growth.

4) Which region will provide more business opportunities for growth of renewable PVDF market in future?

Ans: Asia Pacific will provide more business opportunities for market growth owing to the increasing demand for smart gadgets and other smart electronic devices in India and China, and rising consumer base of renewable PVDF in the region.

5) Who are the major players dominating the renewable PVDF market?

Ans: The major players in the market are Solvay SA, Daikin Industries Ltd., Kureha Corporation, 3M Company, and others.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the renewable PVDF market?

Ans: The market is segmented by product type, end user, and by region.

8) Which segment captures the largest market size in the product type segment in the renewable PVDF market?

Ans: The tube segment is anticipated to hold largest market size and is estimated to grow at a notable CAGR over the forecast period and display significant growth opportunities.

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