Fluoropolymers Market Future Looks Bright for Big Revenues as Market Size Expands $11.7 Billion

According to a report published by Allied Market Research, titled "Fluoropolymers Market by Product Type, Application, and End-Use Industry: Global Opportunity Analysis and Industry Forecast 2020-2027", the global fluoropolymers market generated $7.7 billion in 2019 and is projected to reach $11.7 billion by 2027, registering a CAGR of 6.5% from 2020 to 2027.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐨𝐟 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰: https://www.alliedmarketresearch.com/request-sample/2310

Key Market Drivers

The increasing demand for fluoropolymers and advancements in medical applications are key drivers boosting the global fluoropolymers market. However, the rising prices of PTFE are restricting the growth of the market. On the positive side, the growing use of fluoropolymer films in the construction and energy sectors presents lucrative opportunities for market expansion in the future.

Segment Highlights

Pipe Segment: By application, the pipe segment dominated the market in 2019, accounting for over one-fourth of the total market share. Fluoropolymer pipes are in high demand in industries such as petrochemicals, pharmaceuticals, and chemicals due to their resistance to volatile and corrosive solvents and acids. The segment is expected to grow at a CAGR of 3.3% during the forecast period.

Industrial Equipment Segment: By end-use industry, the industrial equipment segment is expected to register the highest CAGR of 4.5% through 2027. The segment held the largest market share in 2019, contributing nearly two-fifths of the global market. Fluoropolymers are widely used in industrial processing for applications such as pumps, tanks, heat exchanger coatings, and autoclaves.

Regional Insights

The Asia-Pacific region, followed by North America, held the largest share of the global fluoropolymers market in 2019, contributing nearly half of the total market. The region is expected to witness the highest growth with a CAGR of 6.6% during the forecast period, driven by the presence of large manufacturing hubs in China and India and the increasing demand for high-quality medical, automotive, and consumer products. Meanwhile, the market in North America is expected to grow at a CAGR of 6.5%.

Leading Market Players

Key players driving the global fluoropolymers market include:

Arkema SA
The Chemours Company
Asahi Glass Company Limited
Dongue Group
Daikin Industries
Honeywell
DuPont
SABIC Innovative Plastics
Mitsubishi Chemical
Shin-Etsu Chemical
Saint-Gobain
3M Company
Solvay SA

𝐎𝐛𝐭𝐚𝐢𝐧 𝐑𝐞𝐩𝐨𝐫𝐭 𝐃𝐞𝐭𝐚𝐢𝐥𝐬: https://www.alliedmarketresearch.com/fluoropolymers-market

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About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

This release was published on openPR.