Renewable PVDF Market Forecast and CAGR
According to the recent research study by Fact.MR, renewable PVDF market is set to observe rapid growth during 2022-2031. Product is currently in its introduction phase and will have significantly lower market valuation by the end of 2021.Over the long-run forecast period, market is anticipated to grow at 9% CAGR.
In June 2021 Arkema being the first company to announce its venture into renewable PVDF. The company has launched a new product line under Kynar PVDF which is sustainable. Company claims it to be 100% renewable due to its carbon derived origin from rude tall oil bio-feedstock as per the mass balance approach.
What is Driving Demand for Renewable PVDF?
The renewable PVDF newly launched by Arkema is expected to create huge demand in the market owing to its technological advancement which reduces the impact on climate change of the Kynar PVDF binder by 20%. Additionally, it also has a lower dependency rate on the consumption of upstream crude oil.
Over the past half-decade, the electric vehicles market observed a magnificent growth of more than 20% CAGR. The rise in the electric vehicles fleet has paved way for the lithium-ion battery production growth.
Lithium-ion batteries for automotive applications require PVDF for binding electrodes. Therefore fluctuating demand cycles of lithium-ion batteries for electric vehicles proportionally affect the trade of renewable polyvinylidene fluoride
Enforcement of stringent regulations over conventional crude oil-derived polymers to pave way for the utilization of bio circular polymers, thus cascading the effect to the renewable polyvinylidene fluoride.
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Covid-19 Impact on Global Renewable PVDF Market
COVID-19 has negatively impacted the business of the PVDF market over the period of Q2-Q4 of 2020 owing to the decline in demand from the lithium-ion battery makers. Reduced automotive output has ceased the investor interest in the renewable energy market as it is an essential material for manufacturing lithium-ion batteries.
Investments in renewable polyvinylidene fluoride is set to rise post Q2 of 2022 on the back of anticipated rise in demand for efficient and longer life lithium ion batteries.
Global Renewable PVDF Market Geographical Outlook
Renewable polyvinylidene fluoride is a relatively new product that was first launched this year itself. Arkema is the only manufacturer of the product has its factory situated in France which caters primarily to its European customer.
Currently, the company has its focus on grades that are specifically targeted towards lithium-ion batteries that are needed for smartphones, electronic devices and has a huge demand in the electric vehicles market.
Lithium ion battery manufacturers in Europe are the prime customers of Arkema in the region. Currently, a product produced by the company is in its infancy stage and is expected to reach the wide market base in Europe by Q2 of FY2022.
With the launch of new electric vehicle batteries projects in Europe, for instance, in 2021, CATL, a Chinese battery giant has planned to open its lithium ion battery production facility in Erfurt, Germany.
This project is not only going to create a pathway for the European battery market but also is anticipated to drive the demand for renewable polyvinylidene fluoride in the region.
Over the long-run forecast period, Europe is anticipated to hold the dominant position in renewable polyvinylidene fluoride business. Followed by Europe, East Asia is set to capture nearly one-third of the lithium ion battery production.
South Asia & Oceania, Latin America and Middle East & Africa are anticipated to stay low owing to the less prominence of the battery manufacturing in these regions.
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Is Renewable PVDF Market Monopolistic in Nature?
Since the launch of the new sustainable Kynar® PVDF range by Arkema in June 2021 the market for renewable PVDF is highly consolidated with Arkema being the only player in the market manufacturing this product.
Their recent launch makes the competition monopoly. However, the nature of the product and it’s sustainability than PVDF and an additional advantage of having 20% less impact on the climate makes it a lucrative product to encourage new entrants in the market in the future.
Renewable PVDF Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
An Adaptive Approach to Modern-day Research Needs
By Product Type
By End-Use Industry
- Aerospace & Defense*
- Water & Wastewater Treatment*
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Argentina & Rest of Latin America
- Germany, France, Italy, Spain, U.K., Benelux, Russia, and Rest of Europe
- East Asia
- China, Japan, South Korea
- South Asia
- India, Thailand, Malaysia, Indonesia and Rest of South Asia
- Australia and New Zealand
- Middle East and Africa
- GCC Countries, Turkey, South Africa, and Rest of Middle East & Africa
- North America
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
NOTE: All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of FACT.MR.
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