Global Fluoropolymers Market - Segmented by Type, End-user Industry, and Geography - Growth, Trends, and Forecast (2018 - 2023)
The fluoropolymers market is expected to grow at a moderate rate during the forecast period (2018 - 2023). Asia-Pacific, with its thriving economies and rapidly expanding population, is expected to experience the highest growth rate during the forecast period. Fluoropolymers are fluorocarbon containing polymers with unique high-performance material features. They have properties such as high resistance to solvents, acids, and bases, which makes them useful in many end-user industries.
Soaring Demand in Construction Applications Segment
Fluoropolymers 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 eliminating the number of recoats. The increasing penetration of low volume fluoropolymer, such as PVDF and FEP, in uses such as semiconductor manufacturing, wire & cable insulation, and coating in construction applications, are expected to lead the market toward product innovation and material development. The automotive & transportation sector and the electrical & electronic appliance sector accounted for a major market share of the total demand for fluoropolymers in 2017.
Growing concerns about the environment have resulted in new legislation that threatens manufacturers of fluoropolymers, and the rising raw material costs may dampen the overall growth during the forecast period.
Asia-Pacific Region to Lead the Market
As per the recent development, the Asia-Pacific region faces rapid advancements and increase in the demand from emerging economies which has led to the low cost production of PTFE in China and is expected to encourage manufacturers to open more production facilities in China.
North America has the second-largest demand in the market, this is due to the reason that a large part of the region’s fluoropolymers demand comes from the industrial processing segment for PTFE. The North American market is likely to witness a growth in light of the expanding manufacturing base of the automotive, construction, and electronics sectors in the United States as already the majority of the Mexican motor vehicle exports are shipped to the United States.
Key Developments in the Market
March 2018: Quadrant is offering a laser-writable polyoxymethylene product to the global engineering plastics market. With this development, Quadrant is able to meet the food and pharma industries’ requirements for laser-writable machine components with no risk of contamination to the food products.
November 2017: Honeywell to expand the production capacity for its Aclar Pharmaceutical Films business to meet the growing global demand by the pharmaceutical industry.
Major Players: 3M Company, Daikin, Honeywell International Inc., DowDuPont, Fluorotherm Polymers Inc., and Quadrant AG, among others.
Reasons to Purchase this Report
To understand the impact of end-user applications on the market
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
To identify the countries that are expected to witness the fastest growth during the forecast period
Identify the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet (in Excel)
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