High Performance Fluoropolymers Market by Type (FPTFE, FEP, PFA/MFA, ETFE), End-Use Industry (Industrial Processing, Transportation, Electrical & Electronics, Medical), and Region (North America, Asia Pacific, Europe) - Global Forecast to 2022
“Growing use of high performance fluoropolymers (HPFs) in industrial processing sector is a prime factor for the growth of the HPFs market.”
The global HPFs market size is estimated to reach USD 5.08 billion by 2022, at a CAGR of 6.6% between 2017 and 2022. These fluoropolymers are widely used in many industrial fields for processing and maintenance under severe conditions. These are majorly used for chemical processing, textile processing, food production, oil & gas, power plant, and water treatment industries owing to their non-stick properties resulting from their low surface energies.
“Fluorinated Ethylene Propylene (FEP) is the fastest growing type segment, anticipated to drive the growth of the high performance fluoropolymers market.”
Fluorinated ethylene propylene is the fastest-growing type segment, in terms of both volume and value between 2017 and 2022 in the HPFs market. One of the major factors contributing to this growth is that it can be melt processed to be used to produce FEP tubing, similar to PTFE. However, FEP exhibits some additional properties, such as it is one of the clearest plastics available in the market and can be used in long and continuous coils. It can also be employed in applications when there is a need for excellent stress cracking resistance, as well as in anti-corrosion liners, films, and tubes.
“Rising demand in Asia Pacific is the major driver for the HPFs market.”
Asia Pacific is expected to be the fastest-growing market for HPFs, in terms of both value and volume between 2017 and 2022. High economic growth rate, growth of manufacturing industries, cheap labor, increasing foreign investments, and the rise in applications of HPFs across medical, transportation, and electronics industries are some of the major factors expected to fuel the growth of the market. Countries such as China, Japan, and South Korea, which are the major hubs for the production of electronic components, are expected to drive the growth of the HPFs market in Asia Pacific.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted.
The breakdown of primary interviews is given below:
• By Company Type: Tier 1 - 31%, Tier 2 - 56%, and Others - 13%
• By Designation: C level - 44%, Director level - 25%, and Others - 31%
• By Region: North America - 19%, Europe - 25%, Asia Pacific - 50%, RoW - 6%
Key companies profiled in this market research report are The Chemours Company (US), Daikin Industries, Ltd. (Japan), The 3M Company (US), Solvay SA (Belgium), Asahi Glass Co., Ltd. (Japan), The Dongyue Group (China), Gujarat Fluorochemicals Ltd. (India), Hubei Everflon Co., Ltd. (China), Shanghai 3F New Materials Company Ltd. (China), Halopolymer OJSC (Russia), etc.
The market is segmented on the basis of type, end-use industry, and region. This report covers the HPFs market, in terms of value as well as volume, and forecasts its market size till 2022. The report also provides company profiles and competitive strategies adopted by the key players in the global HPFs market.
The report will help the market leaders/new entrants in this market in the following ways:
1. This report segments the HPFs market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the subsegments across different verticals and regions.
2. It will help stakeholders understand the pulse of the market and provide them information on key market drivers, restraints, challenges, and opportunities.
3. It will help stakeholders understand the competitors and gain more insights to better their position in the business. The competitive landscape section includes new product developments, partnerships, and mergers & acquisitions.