Global Fluoropolymers Market is anticipated to grow significantly in the forecast period owing to the replacement of traditional materials by fluoropolymers in several end use industries like industrial processing, medical, electronics and transportation. Fluoropolymers are those materials that include fluorine atoms in their chemical structure. They possess exceptional properties like weather stability, outstanding chemical resistance, low coefficient of friction & low dielectric constant with low surface energy. Their special physical and chemical properties make them ideal to be used in several industrial applications.
Fluoropolymer market is witnessing progress majorly due to extensive demand for low weight materials and coatings for manufacturing aircraft and automobile components. Moreover, wide applications of fluoropolymers in electronics and electrical lubrication is another driving factor for the growth of the market. Rise in demand for reasonably priced and efficient insulating materials is driving the market growth. However, strict government regulations for reducing carbon emissions in the manufacturing of fluoropolymers is predicted to hamper the growth of the market of fluoropolymers.
Growing demand of fluoropolymers in the medical tools and devices and escalating demand for consumer electronics are the trends that are directly impacting fluoropolymers industry. Moreover, the development of closed-loop up cycling manufacturing for fluoropolymers and increasing use of fluoropolymers in different applications are another emerging trends in the market.
Fluoropolymers market is categorized on the basis of type, application and geography. On the basis of type, the market is divided into two major categories namely, homopolymers and copolymers. Homopolymers are further classified into polytetrafluoroethylene (PTFE), Polychlorotrifluoroethylene (PCTFE), and polyvinylidenefluoride (PVDF). Copolymers are further segmented into fluorinated ethylene propylene (FEP), Ethylene tetrafluoroethylene (ETFE), Ethylene chlorotrifluoroethylene (ECTFE), Perfluoroalkoxy (PFA), and THV (Therpolymer). The polytetrafluoroethylene (PTFE) segment is widely used resin types and is expected to lead fluoropolymer industry owing to its high chemical resistant property to be used in several industrial applications. This is followed by fluorinated ethylene propylene (FEP) and Perfluoroalkoxy (PFA).
Based on application, the market is divided into automotive, construction, electrical & electronics, healthcare, industrial applications, chemical processing, and others (transportation, etc.). Due to rise in demand and growing investments for lightweight vehicles, automotive segment is expected to lead fluoropolymer market in the years to come.
Geographically, fluoropolymers industry is segmented as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Owing to the rise in economy in Asia Pacific the market is dominated in terms of revenue. This is followed by North America and Europe, owing to the increasing investments by key players of the regions. Rising disposable income of consumers from Latin America and Asia Pacific is expected to drive demand for lightweight automobiles.
The major players of fluoropolymer industry are Daikin Industries Ltd., The 3M Company, Jiangsu Meilan, Shanghai Sanaifu, Arkema SA, The Chemours Company, Saint-Gobain, Zhejiang Juhua Co. Ltd., Kureha Corporation, Solvay SA, Dongue Group, Fuxin Heng Tong Fluorine Chemicals Co. Ltd., Gujarat Fluorochemicals Ltd., Halopolymer OJSC, Honeywell International Inc., Asahi Glass Co. Ltd., Shanghai 3F New Materials Co. Ltd., Chenguang R.I.C.I, Whitford, Zeus Inc. and others.
Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2022)
Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2022)
• Electrical & Electronics
Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2022)
• North America
• Latin America
• Asia Pacific
Research Support Specialist, USA