Fluoropolymer Coatings Market - Segmented by Resin Type (PTFE, PVDF, FEP, ETFE, PFA, PVF, FEVE), Application Sector (Industrial, Building & Construction, Automotive, Food Processing, etc.), and Geography - Growth, Trends, and Forecast (2018 - 2023)
Fluoropolymer Coatings Market
The fluoroplolymer coatings market is estimated to witness a moderate growth during the forecast period, 2018-2023. Asia-Pacific is expected to witness strong demand for fluoroplolymer coatings, fuelled by increasing investments in the region and the thriving building & construction industry. These coatings produce a smooth, hard, slick coating and provide excellent corrosion and chemical resistance. Other benefits of fluoropolymer coatings include reduced friction, resistance to galling, nonstick, non-wetting, electrical resistance, and abrasion resistance.
Increasing Demand due to Expanding Applications in Multiple Industries
Fluoropolymer coatings are in high demand for use in a number of industries, because they possess some very desirable qualities. Fluoropolymers have excellent non-stick properties, reduce friction, resist corrosion, and withstand very high temperatures. Fluoropolymers do not conduct electricity and do not absorb water. This combination of factors can increase the life-cycle of the exterior coatings, as well as the interval between recoats, reducing the costs by minimizing the number of recoats and hence, making them ideal for use in building & construction, electronics, automotive, food processing, and aerospace. New uses and applications for fluoropolymers are being developed constantly, and as a result, the demand continues to grow.
Building & Construction - Fastest Growing Application Sector
The building & construction industry is currently a thriving industry in several emerging economies of the Asia-Pacific and South American region. Driven by ever-increasing population and rapid urbanization, as well as the rise in purchasing power, investments in infrastructure are being planned. Fluoropolymer coatings are useful for paints, sealants, and adhesives to add durability. They can increase the life-cycle of the exterior coatings, as well as the interval between recoats. This will reduce the costs of infrastructure management by minimizing maintenance costs and the number of recoats.
Asia-Pacific to Witness Strong Demand in Fluoropolymer Coatings Market
Asia-Pacific is estimated to witness tremendous growth over the assessment period in fluoropolymers market, due to the wide usage of fluoropolymer coatings in numerous end-use application segments. Asia-Pacific is the biggest market, followed by Europe and North America. China is the biggest market and a cheap manufacturer of PTFE. The demand for fluoropolymer coating is expected to surge in various other countries of Asia Pacific, such as India, Japan, and South Korea, due to rising construction activities, along with high adoption rate from various end-use industries. Moreover, many big global players are shifting their manufacturing units to Asia-Pacific, due to availability of raw materials and cheap labor costs. Hence, fluoropolymer coatings are going to have a huge market base, as companies invest in infrastructure and manufacturing hubs for various industries, ranging from automotive, and electronics, etc.
Key Developments in the Market
- February 2017- Carbodeon Ltd Oy started research on nano-diamond enhanced fluoropolymer coatings, with improved wear and friction properties. Carbodeon’s market focus is on industrial application of nano-diamond materials in metal finishing, polymer/fluoropolymer coating, and polymer thermal conductivity applications.
- January 2017- Honeywell recently introduced a new fluoropolymer as an alternative to poly-fluoroethylene vinyl ether (FEVE) resins. The new product offers chemical resistance and low viscosity, allowing coating formulators to use less organic compounds, leading to lower VOC values.
- October 2015- PPG Industries’ coil and building products-exterior coatings group launched a full line of DURANAR fluoropolymer coatings. DURANAR coating is formulated with Arkema’s Kynar 500 FSF (fluorosurfactant-free) polyvinylidene fluoride (PVDF) resin, in combination with proprietary PPG resins, pigments, and solvents.
Major Players -Akzo Nobel NV, PPG Industries Inc.,Daikin Industries Ltd.,Praxair Surface Technologies, Inc.,Tnemec Inc.,Axalta Coating Systems Ltd.,The Chemours Company,
KCC Corporation,The Sherwin-Williams Company.,Kansai Paint Co. Ltd.
Reasons to Purchase the Report
- An understanding of the current market dynamics and growth opportunities.
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis.
- To understand the dominating application in the fluoropolymer coatings market.
- Region and countries expected to witness fastest growth during the forecast period.
- Identify the latest developments, market shares, and strategies employed by the major market players.
- 3 months analyst support, along with the Market Estimate sheet (in Excel)
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