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The Asia Pacific region accounts for a significant share of the PVDF resin industry owing to the rising demand for the thermoplastic in various end-use industries. The rapid industrialisation in developing countries like India, Indonesia, and Vietnam, among others in the region is surging the use of PVDF resins, which is propelling the market growth. With the robust rise of the manufacturing industry in the region, especially in India and China, the demand for PVDF resin in versatile industries ranging from automobiles to chemical processing is surging, hence fuelling the industry growth. In addition, the exponential rise of the population, along with rapid urbanisation, is leading to the robust growth of the construction industry. This, in turn, is escalating the use of PVDF coatings and invigorating the growth of the PVDF resin industry. As the manufacturing and demand for electronic devices is significantly surging in the region, the market for PVDF resin is poised to witness robust growth in the coming years.
Arkema S.A. (OTCMKTS: ARKAY), one of the leading companies in the market, launched Kynar PVDF range in June 2021. The product range features sustainable grades that are made up of renewable carbon derived from crude-oil bio feedstock. The product range is expected to be produced in the company’s Pierre-Benite plant in France for its European customers. The plant is predicted to initially manufacture PVDF that is targeted for the lithium-ion battery industry. The technology used in the production of the product range marks a significant step to combat rapid climate change while reducing the dependence on upstream crude oil consumption. The company is projected to manufacture PVDF range using fluorine derived from the agricultural industry. The products are estimated to be commercialised by 2022. Such developments are fuelling the growth of the market.
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The major players in the global PVDF resin market are Kureha Corporation, RTP Company, Inc., Arkema S.A., Shanghai Ofluorine Co., Limited, 3M Company, Solvay SA, Zhejiang Fotech International Co., Ltd., Daikin Industries, Ltd., Zhuzhou Hongda Polymer Materials Co., Ltd, and Shanghai Huayi 3F New Materials Co., Ltd., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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