Theglobal market for fluropolymers has highly competitivevendor landscape, observes Transparency Market Research (TMR). Presence of astrong and limited number of players operating in the global market is leadingto intensifying competition among the players. Some of the players operating inthe global fluropolymers market are 3M Company, Honeywell International Inc.,Asahi Glass Co., Ltd, Daikin Industries Ltd., and Solvay SA. This competitionis leading to create an entry barrier for new entrants in the market. In orderto stay ahead in this competition, the key players are focusing on research anddevelopment (R&D) activities for the development and improvement ofproducts.
Accordingto TMR, the global market for fluropolymers is expected to swell with a CAGR of5.3% over the forecast period to 2017 to 2026 to attain the value of US$690.3mn by the end of 2026. Based on the product type, the polytetrafluoroethylenesegment dominated the market in 2016 and is expected to continue its dominanceover the forecast period. Based on the application, the medical devices segmentis accounting for leading share in the overall market. Based on the region,Asia Pacific excluding Japan (APEJ) dominated the overall market and isexpected to remain dominant by the end of the forecast period.
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GrowingApplication in Medical Devices to Fuel Growth
Fluropolymershas wide-ranging applications in medical devices owing to properties such asbiocompatibility and lubricity. Fluropolymers have applications such as limbinstallation, gloves, jackets, aprons, and others to protect injury fromnumerous diseases and infection. Surgeons are also increasingly preferringfluoropolymer multilumen catheter to conduct surgeries without removing thecatheter to use with another. Some of the exceptional properties offluropolymer is making the material preferable mainly in the minimally invasivemedical procedures. These factors and higher demand are boosting the growth ofthe global fluoropolymer market.
Additionally,fluoropolymer material is available in numerous forms, but the most common ispolytetrafluoroethylene (PTFE). PTFE is widely used in medical devices as it isclean and easily applicable in tissue and blood. Players in the healthcareindustries are preferring the fluoropolymer for performing the process such assterilization and high compatibility with tissues and stability in the widerange of temperatures, lubricity, purity, and inactivity in the chemicalreaction and activity. The aforementioned factors are boosting the adoption ofthe fluoropolymers which is likely to fuel the growth of the globalfluropolymers market.
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ExtensiveResearch to Offer Lucrative Opportunities
Despite thegrowth factors, numerous regulatory bodies are increasingly imposingregulations on the manufacture of the fluropolymer products are hamperinggrowth of the global market. In addition, growing adoption of wide range of thehousehold and hospitals products such as stain-resistant carpets which may leadto PFOA contamination due to material and water are hampering growth of theglobal fluoropolymer market. Nonetheless, extensive research and development(R&D) activities for upgrading the product and its performance are offeringlucrative opportunities for growth and collection of revenue. Additionally,gaining importance of piezoelectric materials in the electronics mainly in thecoating in the chemical manufacturing are offering lucrative opportunities forgrowth.
Thisinformation is based on the new report by TMR, titled “Fluoropolymer Market(Product Type- Polytetrafluoroethylene, Polyvinylidene Difluoride, FluorinatedEthylene Propylene, Other Product Types; Application - PharmaceuticalPackaging, Medical Devices, Drug Delivery, Other Applications) - GlobalIndustry Analysis, Size, Share, Growth, Trends and Forecast 2017-2026.”
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The globalfluropolymers market has been segmented as presented:
ByProduct Type:
· Polytetrafluoroethylene
· Polyvinylidene Difluoride
· Fluorinated Ethylene Propylene
· Other Product Types
ByApplication:
· Pharmaceutical Packaging
· Medical Devices
· Drug Delivery
· Other Applications
ByGeography:
· North America
o U.S.
o Canada
· Europe
o U.K.
o Germany
o France
o Spain
o Italy
o Rest of Europe
· Asia Pacific
o China
o Japan
o Australia
o India
o Rest of Asia Pacific
· Latin America
o Brazil
o Mexico
o Rest of Latin America
· Middle East & Africa
o South Africa
o Saudi Arabia
o Rest of Middle East & Africa
