Fluoropolymer Coating Market: Current Analysis and Forecast (2021-2027)

Fluoropolymer Coating Market: Current Analysis and Forecast (2021-2027)

The global fluoropolymer coating market is expected to showcase growth of around 5% during the forecast period (2021-2027). The increasing demand for high-performance coating solutions across the industry owing to changing consumer preference and improving quality of life is creating market for new coating solutions. Fluoropolymer coating is a type of high-performance coating provides non-stick properties, reduce friction, resistance to corrosion, and has the ability to withstand high temperature environment. Owing to which, a large number of industries are applying fluoropolymer coating on the products in order to increase the life of product and provide a high-grade final product to the consumer. Industries like aerospace and defense, automotive, industrial, food processing, electrical & electronics, and building and construction are among the largest consumer of fluoropolymer coatings. Therefore, growing demand from aforementioned industry demand of fluoropolymer coating would also grow. However, in 2020, demand has witnessed a sharp decline owing to low-industrial production in the light of COVID-19, which eventually impact the dynamics of fluoropolymer coating. For instance, production of automobiles falls by 15.5% in 2020 as compared to 2019.

Insights Presented in the Report

“Amongst type, PTFE held prominent share in the market in 2020.”

Based on type, the market is categorized into PTFE, FEP, ETFE, PVF, PVDF, FEVE, and Others. Among these, PTFE has accounted for significant share in the market and is expected to showcase robust growth during the forecast period. This can be attributed to its usage in wide range of industrial production like cookware, automobile, aerospace and defense components. Further, increasing development and installation of 5G networking equipment, demand of PTFE is growing as PTFE helps in achieving low latency, thus improving the network performance

“Amongst end-user, electrical & electronics is expected to showcase robust growth during forecast period

Based on end-user, the market is categorized into aerospace and defense, industrial, automotive, food processing, electrical & electronics, building and construction, and others. Among all, electrical & electronics industry is likely to showcase robust growth during the forecast period. As the demand of semiconductor witnessed robust growth in 2021, therefore chip manufacturer has taken several initiatives to reduce the supply-demand gap. This in turn would boost the demand of fluoropolymer coating. PTFE or Teflon is used by semiconductor manufacturers to prevent chip and component contamination from airborne particles. Further, coating have superior reliability, retention, and durability while also preventing contamination of any kind. In addition, it is expected that by 2026, more than half of all mobile data traffic will travel over 5G networks. Faster networks depend on PTFE melt polymers and coatings to keep the data reliably flowing

“Asia Pacific captured significant position in the Fluoropolymer Coating market”

For a better understanding of the market adoption of fluoropolymer coating, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, Rest of North America), Europe (Germany, UK, France, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. Asia-Pacific accounted for significant share in the market and is expected to showcase substantial growth during the forecast period owing to large and growing base of end-use industry due to improving consumer spending power, rapid urbanization, and growing demand for better quality products. Further, industrial shift in the region from western economies has increased the demand of fluoropolymer coating in the region

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