Fluoropolymer Coating Market Anticipated to Perceive Significant Growth by 2023; Asserts MRFR

Market Research Future published a Report on “Global Fluoropolymer Coating Market Research Report - Forecast to 2023”– Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.

Whitford Corporation, Daikin Industries, Ltd., Akzo Nobel N.V., E. I. du Pont de Nemours and Company, PPG Industries, Inc., The Valspar Corporation, The Becker Group, Ltd., BASF SE, TIGER Drylac U.S.A., Inc., Toefco Engineered Coating Systems, Inc. among others are some of the prominent players at the forefront of competition in the Global Fluoropolymer Coating Market and are profiled in MRFR Analysis.

Fluoropolymer Coating Market – Overview

Fluoropolymer Coating are predominantly utilized in various end use industries such as construction, oil & gas, automotive, food processing, cookware, aerospace, and others. Fluoropolymer Coating market is estimated to witness robust growth on account of rising demand from construction sector and continuous growth of automotive as well as oil & gas industry across the globe. Furthermore, oil & gas is estimated to remain the largest consumer of fluoropolymer coating in 2016 and is predicted to retain its dominance over the assessment period due to their highly non-reactive nature, which provide resistance to the reactions with solvent and bases.

Moreover, increasing crude oil production across the globe to meet the energy demand for growing population is estimated to fuel the market growth. In addition, automotive end use segment is estimated to grow with the highest CAGR on account of increasing per capita disposable along with rising demand for passenger vehicle in developed and developing nation.
Geographically, The Asia Pacific fluoropolymer coating market is predicted to witness significant growth with a healthy CAGR over the estimated years due to increasing demand from automotive and construction sector. Furthermore, the demand for fluoropolymer coating is expected to surge in various countries of Asia Pacific such as China, India, and South Korea due to rising construction activities along with high adoption rate from various end use industries. Furthermore, huge investment by major market players in their innovation and research & development activities and shifting of fluoropolymer coating manufacturing unit as well as tremendous growing base of numerous end use industries in this region is predicted to propel the fluoropolymer coating regional market growth. North American market is expected to witness rapid growth due to rising demand for fuel efficient vehicles. North American market is further segmented into U.S. and Canada, among them U.S. accounted for the major contributor in the regional market growth on account of strong growth of food processing and oil & gas sector.

European market is estimated to witness steady growth owing to growing awareness regarding the benefits associated with the product as well as growing utilization in automobile and aerospace industries. Moreover, emerging economies of Latin America and the Middle East & Africa such as Turkey, the United Arab Emirates, Iran, Israel, Brazil, and Mexico are predicted to witness moderate growth on account of increasing disposable income combined with strong consumer base for automotive sector.

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Industry/ Innovation/ Related News:

January 2017- Arkema group, one of the leading supplier of coatings is persistently promoting the cooperative synergies between Arkema’s fluoropolymer and polyamide product offerings, the technical polymers business is announced to launch new Kynar PVDF powder coatings. With this product launch the company enhance its product portfolio and to position itself as true solution providers for the industry.

July 2016- Precision Coating Co., Inc. announced to establish a new plant operations in Costa Rica. The new plant has an area of around 1300 square metre and estimated to start its operation by the end of July 2016. This plant is involved in the manufacturing of fluoropolymer coating solutions and their derivatives for a broad range of medical applications and processes.

January 2016- Precision Coating Co., Inc. declared to acquire Boyd Coatings Research Co., Inc., a leading supplier of coating application services in Hudson, MA. This acquisition helps to create a fluoropolymer coatings application powerhouse providing global medical device manufacturing capabilities.

Competitive Landscape

The Fluoropolymer Coating report has analysed the level of competition among the key operating players as well as sector growth and market scenario. The global fluoropolymer coating market comprises of various manufacturers operating in the market which comprised of large scale and medium scale producers. Some of the prominent market players operating in the global fluoropolymer coating industry has shifted their focus towards growth association specifically by Asia Pacific as moderate level and small scale manufacturers are from this region specifically from China, Singapore, South Korea, India, Indonesia, Thailand, Taiwan, Malaysia, Australia, and Japan. Apart from this, the key manufacturers are focusing on improving their product portfolio by strategic acquisition and mergers, joint ventures, product launches, and exclusive agreements. Many operating players are escalating their manufacturing capacity of fluoropolymer coating to meet the growing demand for fluoropolymer coating. Apart from this, many key players has launched a series of product to solidify their position in the market.

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