Fluoropolymers Market Anticipated to Grow at 5.4% CAGR from 2016-2023

Market Overview:

The Fluoropolymers Market is driven due to various application and end user industry. It is used in various applications such as coatings, paint, tubing, additive, film solutions, and others. Which are highly used in numerous industries such as automotive, aerospace, electronics, and others. In addition, growth of automotive and construction industry are the major industries for consumption of fluoropolymers. Furthermore, growing industry of electronics, and construction industry due to growing urbanization in various industry are adding the growth of fluoropolymers in forecasted period. Geographically, consumption of fluoropolymers is high in APAC region and is also likely to increase at a high growth rate as compared to other regions such as Europe, North America, and RoW. All these drivers add to the calculated CAGR of 5.4% of Fluoropolymers Market during 2016-2023 to Reach USD 10,901.25 million by 2023.

Competitive Analysis:

Key players of the Global Fluoropolymers Market are, The Chemours Company. Chemours™(US), MAFLONS.P.A (Europe), Solvay SA (Europe), HaloPolymer, OJSC (Russia), Arkema Group (Europe), E.I. Dupont DE Nemours & Company (US), DAIKIN INDUSTRIES, Ltd. (Japan), KUREHA CORPORATION (Japan), 3M (US), Shanghai 3F New Materials (China), and others.

New product development, expansion and acquisition are the key strategies followed by major industry players for growth of fluoropolymers market such as on 01/25/2017 Arkema’s Technical Polymers business introduces new Kynar® fluoropolymer powder coatings, Kynar® PVDF fluoropolymerswill have high chemicals resistance, UV exposure resistance, acids & bases resistance. The new Kynar® PVDFfluoropolyme powder coatings will be used in shield of small metal chemical storage tanks, valves, pumps, ducts, high purity manufacturing components, and other chemical handling or mining equipment subjected to acids, petrochemicals, halogenated chemicals, continued abrasion.

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Market Segmentation:

Global Fluoropolymers Market is segmented by type, applications, and end user industry, and region. On the basis of type the fluoropolymers market is divided by PTFE, PVDF, FEP, PFA, THV, PEEK, and others (CTFE, HFP, PDD, etc.). Firstly, PTFE fluoropolymers (Polytetrafluoroethylene), which is an artificial fluoropolymer of tetrafluoroethylene, and has plentiful applications such as in aerospace and electrical industry. Basically, PTFE fluoropolymer is ideal in coating applications in kitchenware such as in non-stick frying pans and other cookware, because of its hydrophobic and possesses fairly high heat resistance features. This is the highly using type of fluoropolymer as compared to others. Furthermore, PVDF fluoropolymers (Polyvinylidene fluoride) which is an extremely non-reactive thermoplastic fluoropolymers, and also recognized as polyvinylidene difluoride, formed by the polymerization of vinylidene difluoride. PVDF fluoropolymers used in applications when needed the highest purity, and resistance to acids, bases, and solvents. PVDF is generally used as insulation on electrical wires, because of its low weight, high chemical resistance, low thermal conductivity, flexibility, and heat resistance. PVDF fluoropolymers based coatings shield and improve several architectural applications such as Metal roofing and wall panel systems, and others. The next type of fluoropolymers is, FEP (fluorinated ethylene propylene) is a copolymer of hexafluoropropylene and tetrafluoroethylene. FEP is mainly used in electrical industry such as in coaxial cable, hookup wire, and technical gear. Due to its extreme resistance to chemical, optical transparency, and flexibility, it is highly applicable in tubing applications. Furthermore, PFA is a perfluoroalkoxy copolymer resin available in pellet or powder forms, and offers superior resistance at high temperatures, excellent low-temperature toughness, and exceptional flame resistance, due to having these features it is highly used in hose, wire and cable insulation, sleeving, tubing, injection molded parts, and chemically resistant linings for bellows, valves, fittings, industrial film, pipes, pumps, and other fluid-handling components.

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On the basis of applications fluoropolymers market is segmented into coatings, paint, tubing, additive, film solutions, and others (resin, etc.). Among all applications fluoropolymers highly used in coating application due to growing industry such as automotive, aerospace, and others. Basically, fluoropolymer coatings are mixtures of high performance resins and fluoropolymer lubricants. These coatings are a higher dry film lubricant that produce a hard, slick, smooth coating and give excellent weathering and chemical resistance.

On the other hand based on end user industry fluoropolymers market is segmented into automotive, aerospace, electronics, pharmaceutical, household, construction, and other industries. Among all industry into automotive, aerospace, and electronics occupied the highest market share. The increasing consumption of fluoropolymers in various applications such as coatings, paint, tubing, additive, film solutions, and others (resin, etc.) through the various end user industry will drive the global fluoropolymers market in the forecasted period.

Regional Analysis:

In terms of geography, Asia Pacific is the largest market of fluoropolymers due to demand in various industry such as automotive, aerospace, and electronics in China region followed by Japan. Increasing demand for automotive industry in the China, Japan, India, Taiwan, and South Korea has made Asia Pacific largest consumer of the global fluoropolymers market followed by increasing in the consumption of fluoropolymers market in North America region. In North America region, fluoropolymers market is mainly drive by automotive, electrical, construction and aerospace industry. In addition, the third largest market of fluoropolymers is Europe region due to large consumption in pharmaceutical, household, and automotive industry. Latin America and Middle East also witnessed in growth of fluoropolymers market due to various application such as coatings, paint, tubing, additive, film solutions, and others.

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