The market for polyvinylidene fluoride (PVDF) coatings is expected to grow at a CAGR of more than 5% during the forecast period. Major factors driving the market studied is growing infrastructure and industrialization in Asia-Pacific.
- On the flip side, the threat of substitutes is likely to hinder the market growth
- Asia-Pacific dominated the market across the globe with the largest consumption in a country such as India, China, etc.
Key Market Trends
Construction Segment to Dominate the Market
- PVDF coatings are commonly used for roofing in the construction industry. These coatings are a resin-based coating system.
- They are extensively used when a robust coating is needed on the exteriors to resist weathering, chalking, fading, and UV rays while offering exceptional protection to the building structures.
- These types of fluoropolymer coatings are mainly applied on metal roofs, garage doors, and wall panels or spray applied to formed aluminum extrusions on curtain walls, aluminum window and door framing, gutters, soffits, and sunshade.
- The increase in the construction activity in Asia-Pacific, North America, etc. in turn, is expected to increase the usage of PVDF coatings in the construction industry to a major extent.
- For instance, in Malaysia, mixed-use development projects, such as the Tun Razak Exchange and Bukit Bintang City Centre in Kuala Lumpur, are expected to support the growth of the construction sector. However, the commercial sector is expected to weaken through the coming years, following the oversupply and overhang of high-end shops and shopping complexes, as well as a downward trend in the incoming supply of commercial buildings.
- All the aforementioned factors are likely to increase the demand for the market over the forecast period.
Asia-Pacific Region to Dominate the Market
- Asia-Pacific accounted for the highest market share in terms of revenue, with China dominating the market.
- Some of the major reasons for the domination of the Chinese market include the expansion of chemical processing sites in China from the leading chemical producers in the world, such as SINOPEC and CNCP.
- Countries, such as India, China, Indonesia, Vietnam, and Malaysia, are receiving significant investments, both from public and private sources, which are increasing the development of the infrastructure sector and opening up newer avenues for welan gum demand.
- For instance, Since India is still a developing economy, the construction sector is one of the booming industries in the country. The infrastructure sector is an important pillar for the growth of the Indian economy. The government is taking various initiatives to ensure time-bound creation of an excellent infrastructure in the country.
- The government has announced a target of USD 376.5 billion investment in infrastructure, over a period of three years, including USD 120.5 billion for developing 27 industrial clusters, and USD 75.3 billion for road, railway, and port connectivity projects.
- This, in turn, is likely to positively influence the demand for market, during the forecast period.
The polyvinylidene fluoride (PVDF) coatings market is consolidated. Some of the major players include AkzoNobel N.V., PPG Industries, Inc., Solvay, The Sherwin- Williams Company, KECO Coatings, among others.
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