Renewable PVDF Market Share

APAC Market Statistics

Asia Pacific industry is likely to account for largest revenue share of 35% by 2037, 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 two-thirds of the Asian average. Owing to the Covid-19 crisis, total energy consumption fell by 3.4% in 2020 to 908 Mtoe.

North American Market Forecast   

The North American renewable PVDF market is estimated to be the second largest, registering a share of about 24% by the end of 2037, which can be credited to the growing development of innovative products and the strong presence of lithium-ion battery manufacturers in the region. Furthermore, the rapid increase in hydropower, wind & solar ocean energy, which are providing commercial & industrial, residential, and consumer electrical needs is expected to increase the utilization rate of renewable PVDF for insulation in the next few years. In addition to the other factors, the rising investment by the regulatory bodies of the region to use renewable PVDF owing to its advantages such as weather durability, dirt resistance, chemical resistance, prolonged reflectivity, and smoke resistance. Thus, it is anticipated to increase the awareness level and help in the expansion of the market size during the forecast period.

Europe Market Forecast

Further, the market in the European region, amongst the market in all the other regions, is projected to hold a majority of the share by the end of 2037. The rising focus on the adoption of renewable energy such as solar panels and wind turbines in the region for the protection of the environment which requires renewable PVDF for their construction is considered to be the primary factor for market expansion in Europe during the assessment period. In addition, the presence of a well-established chemical processing and automotive industry along with the strong focus on sustainability and environmental regulations are other factors that are projected to bring favorable opportunities for robust revenue generation in the future.