According to the report published by Allied Market Research, the global PVDF resin market generated $1.0 billion in 2020, and is projected to reach $2.6 billion by 2030, witnessing a CAGR of 8.2% from 2021 to 2030. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
Key strategic developments, rise in demand from end users, and high performance properties coupled with rise in acceptance drive the growth of the global PVDF resin market. However, environmental & health concerns and high threat of substitutes restrain the market to some extent. On the other hand, government initiatives and investments in the renewable energy sector present new opportunities in the upcoming years.
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COVID-19 scenario:
- The outbreak of the COVID-19 pandemic led to have a negative impact on the growth of the global PVDF resin market, owing to a sharp decline in demand for PVDF resins from end user industry, including automobile, electrical & electronics, and defense industries.
- Furthermore, the disruptions in the supply chain resulted in a lack of raw materials, limiting the expansion of the worldwide PVDF resin market.
- Nonetheless, the industry is expected to rebound quickly, as several government authorities in different locations have given relaxations, allowing businesses to resume operations.
The report offers detailed segmentation of the global PVDF resin market based on type, application, end user industry, and region.
Based on type, the alpha segment held the highest market share in 2020, holding more than three-fifths of the total market share, and is expected to continue its leadership status during the forecast period. However, the beta segment is estimated to register the highest CAGR of 8.6% from 2021 to 2030.
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Based on application, the Li-ion batteries segment held the largest market share in 2020, holding around two-fifths of the total market share, and is expected to continue its leadership status during the forecast period. Moreover, the same segment is projected to register the highest CAGR of 8.5% from 2021 to 2030.
Based on region, Asia-Pacific contributed to the highest share in terms of revenue in 2020, holding more than half of the total market share, and is estimated to continue its dominant share by 2030. However, North America is projected to manifest the fastest CAGR of 8.3% during the forecast period.
Leading players of the global PVDF resin market analyzed in the research include Arkema S.A., Daikin Industries, Ltd., Kureha Corporation, RTP Company, Inc., Shanghai Huayi 3F New Materials Co., Ltd., Shanghai Ofluorine Co., Limited, Solvay SA, 3M, Zhejiang Fotech International Co., Ltd., and Zhuzhou Hongda Polymer Materials Co., Ltd.
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