Fluoropolymers Market expected to increase at a CAGR of 5.1% during the forecast period

Future Market Insights delivers key insights on the global fluoropolymers market in its latest report titled 'Fluoropolymers Market: Global Industry Analysis and Opportunity Assessment (2031).' The long-term outlook on the global fluoropolymers market remains positive, with market value expected to increase at a CAGR of 5.1% during the forecast period.

The industrial & equipment segment is expected to remain a key end-use segment, accounting for over one-fourth of the total shares in the global market throughout the forecast period. Global sales of fluoropolymers is estimated to be valued at over US$ 8 Bn by the end of 2017.

APEJ is estimated to account for a major value share in the global fluoropolymers market by 2017 end and is anticipated to retain its dominance throughout the forecast period. In this report, Future Market Insights throws light on the drivers and restraints likely to impact the market during the forecast period.

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According to FMI reports, manufacturing facilities are facing substantial challenges to operations. A number of end use verticals have temporarily suspended operations, either owing to a sharp drop in demand, or due to government restrictions. These trends will hurt prospects of the fluoropolymers market in the short term.

"Fluoropolymers are largely used to improve physical and chemical characteristics of coatings in industrial, construction, and household applications. The characteristics of fluoropolymers resins drive applications in production of novel friction reduction materials with thermal and chemical resistance, which will bolster market growth," says the FMI analyst.

Fluoropolymers Market - Important Takeaways

Polytetrafluoroethylene is a highly sought-after fluoropolymer, supported by superior chemical stability and resistance to wear and tear.
Industrial sector applications account for major revenue owing to use in filtration membrane, flue gas, and pharma processing equipment.
Asia Pacific is a dominant fluoropolymers market owing to substantial demand for fluoropolymers in electronics, automotive, and construction sectors in the region.

Fluoropolymers Market - Driving Factors

Extensive use of fluoropolymers in the production of semiconductors is a key growth factor.
Expansion of the global automotive industry in emerging economies is contributing to critical growth opportunities.
Characteristics including weather stability, chemical resistance, and thermal properties bolster scope of application in multiple verticals.

Fluoropolymers Market - Leading Constraints

Strict regulations governing the production and application of fluoropolymers is a key challenge to market growth.
Risks of perfluorooctanoic acid contamination in coating applications hurts market prospects.

Expected Impact on Market by Coronavirus Outbreak

With the coronavirus crisis, workers in manufacturing facilities are higher risk, as manufacturing operations cannot be conducted remotely. Consequently, the closure of fluoropolymer production facilities and disruptions in raw material supplies during the crisis period, will hurt near term prospects of the market. However, wide ranging industrial and chemical applications will support a steady recovery once lockdown restrictions are relaxed.

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Competition Landscape

Some of the top players operating in the fluoropolymers market are 3M Company, Halopolymer OJSC, DuPont Company, Kureha Corp., BASF SE, Hindustan Fluorocarbons Ltd., Daikin Industries Ltd., Saint Gobain S.A., Arkema Group, Honeywell International Inc., and Solvay Chemicals Inc. Market players are pushing for strategic collaborations and product development to aid market presence. For instance, Poeton has launched a nickel and fluoropolymer surface treatment material in July 2020.

Fluoropolymer Market by category

By Product Type:

PolytetraFluoroethylene (PTFE)
Polyvinylidene fluoride (PVDF)
Polyvinyl Fluoride  (PVF)
Fluorinated Ethylene Propylene (FEP)
Polychlorotrifluoroethylene (PCTFE)
Perfluoroalkoxy Polymer (PFA)
Others

More on the Report

FMI's provides in-depth insights on the fluoropolymers market. The market is segmented in terms of product type (polytetrafluoroethylene, polyvinyl fluoride, polychlorotrifluoroethylene, polyvinylidene difluoride, fluorinated ethylene propylene, prefluoroalkoxy polymer, and others), and end use (construction, automotive & aerospace, electrical & electronics, industrial processing, and healthcare) across five key regions (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa).

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Reports: https://www.futuremarketinsights.com/reports/fluoropolymers-market

About FMI

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

This release was published on openPR.