Press release
Comprehensive Analysis on Fluoropolymer Films Market Size with Key Players: 3M Company, Polyflon Technology Limited, Kureha Corp., DAIKIN Industries Ltd., DUNMORE Corp., Saint-Gobain S.A., SKC Corp., Asahi Glass
Fluoropolymer Films Market will surpass USD 2 billion by 2024; according to a new research report.
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Key manufacturers are: The Chemours Company, The 3M Company, Polyflon Technology Limited, Kureha Corp., DAIKIN Industries Ltd., DUNMORE Corp., Saint-Gobain S.A., SKC Corp., Asahi Glass, etc. Most of the industry manufacturers are engaged in strengthening the geographical reach by consistent expansion initiatives.
Rising popularity of fluoropolymer films as a substitute for glass photovoltaic (PV) modules shall boost the market during the forecast timespan. International Renewable Energy Agency (IRENA) stated that solar energy shall power above 13% of global electricity demand by 2030, rising from its 2% share in 2016. As a result, the surge in PV modules market will drive the demand of fluoropolymer films in the coming years.
Fluorine-based organic polymer films industry is expected to witness significant requirement in various other end-use sectors including: construction, transportation, industrial processing, etc. in the future years. Growing awareness of the unique characteristics of fluoropolymer films such as chemical inertness, UV resistance, dielectric properties, frictional resistance, etc. will expand their applicability by 2024.
Medical sector shall hold robust demand for fluorine-based organic polymer films in the near future. The product will observe high applicability in accordance to the upgrading drug delivery measures including: stoppers, plunger laminates, cap-liners as well as other advanced drug containers, during the forecast period. Market will be flourished by the cumulative healthcare investments by various countries in order to match safety needs demanded by a growing populace.
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Global fluoropolymer films market might face some restraining factors in the next 5-7 years. For instance, their key raw materials which are the fluoropolymers, involve high pricing. Complex manufacturing procedures and uncertainties amongst the consumers regarding the fluorinated pollutants could affect market growth negatively.
PTFE films led the overall fluoropolymer films industry in 2016 with more than 50% market share. The massive share was ascribed to vast availability and the low pricing of PTFE resin. These films are expected to have strong prospects by 2024 in packaging applications for their usage as release films, supported by their low frictional coefficient, high chemical, thermal & electrical resistance.
By 2024, the PVDF films shall witness significant rise with probable gains exceeding CAGR 5%. PVDF films will have sturdy growth in industrial processing, electrical & electronics, etc. for their suitability in the respective application areas such as: thermoformed pump diaphragms, piezoelectric films and in tank linings.
Europe contributed about 20% share in fluorine-based organic polymer films industry in 2016. Europe is projected to have sluggish growth by 2024 for the matured market status. Asia Pacific is certain to hold highest share in the coming years. Upward growth aspects of construction sector in Asia Pacific, cheaper pricing involved in the product manufacturing and strong solar capacity with Japan (42.8 GW) and China (78.1 GW) are some factors that present promising gains for fluoropolymer films market.
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