PVDF Film Market size is forecast to reach $XX million by 2025, after growing at a CAGR of 9.6% during 2020-2025. These films possess properties such as ease of processing, high resistance to chemicals such as bromine, iodine, fluorine, chlorine, and high temperature strong acids, flame retardant, radiation inert & UV, resistance to microbiological species, and abrasion resistance. Increased use of PVDF films has fuelled their demand in many sectors, thereby increasing market growth. In addition, the inert nature of PVDF to high temperature chemical attacks is boosting demand for PVDF films. High costs and incompatibility with glass fiber, however, have curbed market growth. The development of higher strength and more stable PVDF films is expected to provide various opportunities for the market during the forecast period.
The report: “PVDF Film Market– Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the PVDF Film Industry.
By Type: Uniaxially oriented film, Biaxially oriented film, and others.
By End Use Industry: Building and construction, Renewable energy, Water treatment, Automotive, Food and beverage, Pharmaceutical, Electrical & Electronics, Agriculture and others.
By Geography: North America, South America, Europe, APAC, and RoW.
- PVDF combined with piezoelectricity or pyroelectricity has become lucrative for various applications in flexible electronics. Mechanical vibration in a piezoelectric material is used for many applications. Therefore, influencing the market growth.
- The PVDF film market is driven by an increase in the use of PVDF films for various purposes in industrial applications. Moreover, technological advances and improvements in functional value are likely to drive market growth over the forecast period. The PVDF film is highly feasible for chemical use, exhibiting features such as high strength, abrasion resistance and is radioactively inert.
- Currently, COVID-19 is having a massive impact on various industries such as automotive, construction, electronics and others, as most countries have issued “stay at home guidance” i.e., lockdown. And it is expected that the outbreak of COVID-19 will be seen in the whole year of 2020, and a few months in 2021. Therefore, this factor is limiting PVDF film market growth.
End use industry - Segment Analysis
The electrical and electronics industry held the largest share in the PVDF film market in 2019 and is growing at a CAGR of 8.6% during the forecast period. PVDF film are extensity used in the electrical and electronics industry, owning to its excellent electro-active properties, weather resistance, mechanical and chemical properties. In electrical & electronics industry these films are used in semiconductors, lithium-ion batteries, wire and cables and others. In addition, these films are also used in other industries for various applications such as in chemical processing tubes and hoses, automotive, nuclear, protective coatings, food and pharmaceutical processing, owning to good resistance to chemicals, resistance to UV and nuclear radiation, excellent flame retardancy and good impermeability.
Geography - Segment Analysis
The Asia Pacific held the largest share in the PVDF film market in 2019 up to 30%, due to rapid industrialization in the region, and growth of the end-use industries such as electrical & electronics, construction, automotive and chemical processing. Construction projects and investments in Asia Pacific region is significantly increasing, which is driving PVDF film market. For instance, in 2019, China government invested 1.9 billion on 13 public housing projects. In addition, in February 2020, the Asian Development Bank approved a loan of $631 million to develop the Vishakhapatnam-Chennai industrial corridor. Furthermore, construction projects such as ‘100 smart cities’ and ‘Housing for All by 2022’ in India are influencing PVDF film market growth. In addition, according to OICA, automotive production in countries such as India, Indonesia, and Malaysia has increased by 8%, 10.3% and 12.2% up to 5,174,645, 1,343,714 and 402,085 from 2017. Therefore, the growth in construction projects and automotive production is supporting PVDF film market growth in the region.
Drivers – PVDF Film Market
- Growing demand for renewable energy sector
The demand for PVDF film is continuously increasing from various end use industries owing to extensive properties, such as high resistance to chemicals, and strong acids at high temperatures, and ease of processing. In addition, resistance to microbiological organisms, inert to radiation and UV, flame retardant, and resistance to abrasion are other characteristics of these films. In recent years the demand for PVDF film from renewable energy sector has gained traction. These films are used in photovoltaic modules, owning to their higher flexibility. Rapid development of photovoltaic technology provides benefits such as zero carbon emissions and reduced cost of generating electricity. The operational and maintenance costs of photovoltaic systems are lower compared to conventional fossil fuel technology for electricity generation, which effectively boosts the photovoltaic system market growth. Which in turn is driving PVDF film market growth.
Challenges – PVDF Film Market
PVDF films are difficult to process, as the thickness of the film ranges from 0.001–0.5 mm, which is very small in comparison to the conventional plastic films. In addition, the thickness of these films varies with application. The lesser thickness reduces the strength of the films and makes them prone to punctures by sharp edges. Therefore, these films need to be handled with precautions. Therefore, faces challenges pertaining to designing, as the processing needs to be done accurately. Moreover, this can increase the overall cost of processing. Thus, restricting the market growth.
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the PVDF Film Market. In 2019, the market of PVDF Film Market has been consolidated by the top five players accounting for xx% of the share. Major players in the PVDF Film market are Solvay, Arkema Group, Kureha Corporation, Welch Fluorocarbon Inc., HIUV New Materials Co., Ltd., Polyflon Company, Adtech Polymer Engineering ltd, New Micropore Inc., Hangzhou Foremost Material Technology Co. Ltd., and Jiangsu Howel PV Technology, among others.