According to ChemAnalyst report, “Fluoropolymer Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End Use, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030” Fluoropolymer market witnessed a strong demand in the past five years and is projected to achieve a CAGR of 5.32% owing to their specific applications where other materials don’t work efficiently coupled with its extensive use in protecting and insulating wires to prevent them from overheating and potential fires.
Fluoropolymers are fluorocarbon-based polymers as well as high performance-based plastics that have wide range of applications due to their versatile properties such as chemical resistance, thermal stability, strong abrasion and weather resistance, cryogenic properties, low dielectric constant, low friction coefficient and flame resistance. The major end use industries for Fluoropolymers are Automotive & Aviation, Chemical processing, Textiles, Semiconductors and electronics, Domestic goods, Fabrics and Medical. Based on end use demand, chemical processing dominates the global fluoropolymers market. Additionally, fluoropolymers due to their superior mechanical and chemical properties, are used in the inner and outer lining of heavy-duty machineries, heat exchangers, process equipment, pumps, and most importantly to process lines/pipes that are responsible for the transportation of corrosive and hazardous chemicals from one place to another in chemical and processing industries.
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On the basis of type, Fluoropolymers are segmented into Polytetrafluoroethylene (PTFE), Fluorinated Ethylene Propylene (FEP), Polyvinylidiene fluoride (PVDF), Fluoro elastomers and Others (ECTFE, PFA) etc. Among these, PTFE is the most lucrative segment as it is used as a non-stick coating for pans and other cookware, bakeware, and appliance surfaces along with medical goods such as surgical patches and cardiovascular grafts. As Fluoropolymers are durable, easy to maintain and cost-effective alternative to exotic metals for using in high temperature and adverse weather conditions making them most desirable and highly valuable in electronic and electrical applications such as insulations. Similarly, due to their unmatched mechanical properties, chemical and temperature resistance, they are highly preferable in Aviation as well as automotive industry. Owing to all these applications of Fluoropolymers and their types, its market is anticipated to show a tremendous growth in the forecast period.
In the first half of 2020, Coronavirus outbreak had serious repercussions on the global Fluoropolymer market. The Automobile and Chemical industry was terribly hit due to disruption in demand and supply chain due to the lockdown restrictions across various economies. Additionally, the outbreak even exacerbated the production of fluoropolymers and its derivatives due to the lockdown and demands were low. However, the stable demand for electrical and electronic goods around the globe kept its market steady amid the crisis. However, since the relaxation, Fluoropolymer market paved its way back on resumption of industrial activities. As per Analysts, owing to its wide range utilization in different industrial domains it is anticipated to witness a trajectory growth in the demand of Fluoropolymers.
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Global fluoropolymers market is dominated by Asia Pacific region due to its intensive demand from Automotive, Chemical, electronics and consumer end user industries from countries such as China, India, South Korea, Japan. This region is the manufacturing hub of automobile and electronics, contributing to the increased demand of fluoropolymers in the forecast period. Additionally, a significant growth in the United States and Europe is expected in Fluoropolymer market in the upcoming years.
Major players:
- Daiken Industries Ltd,
- The Chemours Company,
- Solvay SA,
- Gujarat Flouropolymers,
- 3M,
- AGC Chemicals,
- The Dongyue Group,
- Halopolymer OJSC,
- Hubei Everflon polymer,
- Arkema Group,
- Shanghai 3F New Material Co Ltd,
- Zhejiang Juhua Co Ltd.
“Global Fluoropolymer market being linked to Chemical, consumer goods and automotive industry primary along with other applications in electronics and electricals, has shown a robust growth in the past few years and the trend is likely to continue until 2030. Moreover, its rising demand from Aviation industry due to its properties like light weight, chemical, temperature and flame resistance is expecting to propel the market for Fluoropolymers in the forecast period. In addition, for stadiums, airports, offices and other structures, the glass fiber fabric coated with PTFE is engineered into roofing and enclosed spaces because of its excellent resistance to weather, flame resistance and easy cleaning which is expected to project appreciable gains to the global Fluoropolymers market during the forecast period. With new competitors emerging across the Asia Pacific Fluoropolymer market, players anticipate that there will be sufficient supply demand gaps in future. At this, it is extremely important to keep an eye which region will grab the biggest market share in the upcoming years. “said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm promoting ChemAnalyst.
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