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Fluoropolymer Films Market Report 2024 - Fluoropolymer Films Market Size, Demand And Growth
Fluoropolymer Films Market
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According to The Business Research Company's, The fluoropolymer films market size has grown strongly in recent years. It will grow from $2.35 billion in 2023 to $2.52 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The growth in the historic period can be attributed to high-temperature stability, expansion in electronics manufacturing, chemical processing industry growth, increased medical and pharmaceutical applications, increased demand in automotive sector.
The fluoropolymer films market size is expected to see strong growth in the next few years. It will grow to $3.3 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to rising demand for ptfe films, growth in renewable energy sector, emerging applications in fuel cells, increasing use in food packaging, rising adoption in semiconductors. Major trends in the forecast period include emphasis on high-performance films, focus on thin film technology, development of fluoropolymer composite films, customization and specialty films, global expansion of production facilities.
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Market Drivers and Trends:
The increasing construction sector will boost the fluoropolymer films market. The construction industry encompasses the planning, designing, and constructing of buildings, infrastructure, and other structures. In construction, fluoropolymer films are utilized for architectural purposes. They are employed as decorative films for facades, wall cladding, and roofing systems, providing visually appealing aesthetics. For instance, in September 2021, according to the report by Oxford Economics, a UK-based information services company, spending on construction accounted for 13% of global GDP in 2020. Further, the global construction output is expected to increase by 42% or US$4.5 trillion from US$10.7 in 2020 to US$15.2 trillion by 2030. Therefore, the increasing construction sector will drive the future fluoropolymer films market forward.
Technological advancements are a popular trend in the fluoropolymer films market. Major companies operating in the fluoropolymer films market are focused on new technological innovations to meet specific demands and sustain their position in the market. For instance, in April 2023, Daetwyler Holding, a Switzerland-based industrial machinery manufacturing company, launched UltraShield fluoropolymer film coating technology and film and spray fluoropolymer coating methods for injectable medication elastomeric closures. UltraShield's chemical and functional properties have been specifically created to securely store pharmaceuticals at ultra-low temperatures, up to -80°C, while also being compatible with current solvent-based pharmacological excipients. UltraShield is made by Datwyler's FirstLine philosophy, featuring cutting-edge clean room technology, automatic production cells, completely automatic camera inspection, and a one-of-a-kind washing process.
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• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
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• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
Saint-Gobain Performance Plastics Corporation, Parker Hannifin Manufacturing Ltd., Honeywell International Inc., 3M Company, Daikin Industries Ltd., Solvay SA, Asahi Glass Co. Ltd., DuPont de Nemours Inc., Arkema S.A., Kureha Corporation, Zeus Industrial Products Inc., The Chemours Company, Professional Plastics Inc., Guarniflon S.p.A., Dunmore Corp., Fluortek AB, Layfield Group Ltd., RMB Products Inc., AFT Fluorotec Ltd., Porex Technologies Ltd., The Chemguard Inc., AGC Chemicals Americas Inc., Whitford Ltd., Enflo LLC, Chukoh Chemical Industries Ltd., Neptech Inc., Polyflon Technology Ltd., American Durafilm Co Inc., Fluoro-Plastics Inc.
Fluoropolymer Films Market 2024 Key Insights:
• The fluoropolymer films market size is expected to see strong growth in the next few years. It will grow to $3.3 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%.
• Flourishing Construction Sector Propels The Fluoropolymer Films Market
• Advanced Technology Pioneers The Fluoropolymer Films Market
• Asia-Pacific was the largest region in the fluoropolymer films market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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