Fluoropolymers Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2021 To 2029

Fluoropolymers are polymers made from fluorocarbons and consist of multiple carbon and fluorine bonds. Fluoropolymers are characterized by high resistance to solvents, acids and bases. They are highly stable in nature owing to the presence of multiple carbon and fluorine bonds. Mechanically, fluoropolymers are categorized as either thermoplastics or thermosets. They are broadly applied in automotive, semiconductors, IT devices and aircraft among other consumer electronics & household appliances. Fluoropolymers provide excellent properties such as non-adhesiveness, low friction and resistance to weather, chemicals and heat. Fluoropolymers hold unmatchable blend of mechanical and electrical insulation properties. Fluoropolymers are being widely preferred in several industrial processing applications owing to their oil resistant properties. Also, with the growing demand for medical equipment and healthcare devices, fluoropolymers are being widely utilized due to their excellent lubricity, dielectric properties and biocompatibility. Fluoropolymers find applications in the manufacture of biomedical materials for artificial corneas and heart valves. Fluoropolymers are emerging as one of the most commonly used alternatives to plastics in the medical and healthcare industry. Having several exceptional properties such as high heat and chemical resistance, low coefficient of friction as well as excellent durability, fluoropolymers are also used as an alternative bone for hip, ear, knee, skull and nose among other body parts.

Rising demand for fluoropolymers from several end-use industries due to their outstanding properties is expected to fuel the overall growth of the market. Fluoropolymers are also used in solar PV modules and in the production of windmill blades. Therefore, increasing adoption of solar photovoltaic modules coupled with rising investments on the use of sustainable sources of energy such as wind energy are some factors anticipated to bolster the demand for fluoropolymers over the forecast period. The global fluoropolymers market is sturdily influenced by growing electrical & electronics industry, construction industry, industrial processing sector as well as expansion in production capacities.

However, several factors such as high cost and complex manufacturing process are some aspects estimated to pose challenges in the growth of global fluoropolymers market.

On the basis of application, automotive accounts for a major share in the global fluoropolymers market owing to increasing demand for automobiles across the globe. Also, increasing investments in research & development activities to decrease the weight of the vehicle coupled with rising demand for lighter and fuel efficient vehicles are projected to drive the automotive segment over the forecast period.

Asia Pacific is expected to be the dominant region due to increasing demand for light weight polymers especially from the automotive industry. Thus, increasing growth of Chinese and Indian automotive industries is a major factor driving the growth of Asia Pacific fluoropolymers market. Moreover, rapid urbanization is leading to an unprecedented demand for new infrastructural projects. Hence, rapid growth of the construction industry is further anticipated to propel the demand for fluoropolymers in the region.

The global fluoropolymers market can be categorized on the basis of type as:

• Polytetrafluoroethylene (PTFE)
• Polyvinyldenefluoride (PVDF)
• Fluorinated Ethylene Propylene (FEP)
• Fluoroelastomers
• Others (PCTFE, PVF etc.)

Polytetrafluoroethylene (PTFE) segment was dominant in the global fluoropolymers market in 2020 and is anticipated to uphold its dominance over the forecast period from 2021 to 2029. This is owing to high demand for cheaper and light weight polymers especially from automotive and construction industries. Moreover, low cost is a major factor driving the demand for polytetrafluoroehtylene since PVDF and FEP are relatively costlier and are not viable to use in bulk amounts. Also, increasing growth of automotive industry is a major factor demanding PTFE in bulk quantities. Moreover, increasing construction activities as well as increasing demand for PTFE coatings in the manufacture of intravascular medical devices such as catheters, guidewires, and delivery sheaths etc. are some other major factors driving the PTFE segment in the global fluoropolymers market. In addition, increasing usage of PTFE coatings in non-stick cookware due to its hydrophobic and heat resistant properties as well as rising usage of PTFE in aerospace wiring are some other major aspects driving the overall growth. The PVDF segment is anticipated to account for the second largest share in the global fluoropolymers market due to rising demand for PVDF coatings for building & construction activities coupled with rising use of PVDF in the manufacture of lithium-ion batteries. However, fluctuating prices of crude oil as well as increasing environmental regulations on the manufacture of PVDF coatings are some major factors anticipated to hinder the market growth.

The global fluoropolymers market can be categorized on the basis of application as:

• Automotive
• Electrical & Electronics
• Healthcare
• Industrial Appliances
• Chemical Processing
• Construction
• Others

By application, automotive segment accounted for the largest share in the global fluoropolymers market in 2020 and expected to maintain its dominance over the forecast period. This is mainly due to rising demand for lightweight automobiles in order to enhance the overall fuel efficiency. Also, increasing automotive production and increasing propagation of fluoropolymer coatings in fuel engines to decrease emissions and offer heat resistance are some other major factors driving the automotive segment in the global fluoropolymers market. For instance, EPA and The European Commission have introduced several regulations relating to restrict volatile organic compound and carbon emissions which is likely to increase the demand for fluoropolymers in the automotive application. Moreover, emergence of China as an automotive hub coupled with rising demand for polyvinylideneflouride as a piezoelectric material in automotive cable and wire insulation is anticipated to support the growth over the forecast period. Also, rising growth of the Asia Pacific automotive industry as well as increasing investments in research & development activities regarding use of lightweight and chemical resistant polymers in the manufacture of automotive interior components is further expected to fuel the growth of the automotive segment in the foreseeable years. Healthcare is anticipated to account for the second largest share in the global fluoropolymers market owing to rising demand for chemical resistant polymer materials. Also, increasing use of fluoropolymers in the production of multilumen tubing, catheters, syringes, sutures and bio-containment vessels are some major factors driving the overall growth.

The global fluoropolymers market can be categorized on the basis of regions and countries as:

• North America
• U.S.
• Canada
• Europe
• Germany
• France
• U.K.
• Italy
• Rest of Europe
• Asia Pacific
• China
• India
• Japan
• Rest of Asia Pacific
• Latin America
• Brazil
• Mexico
• Rest of Latin America
• Middle East & Africa (MEA)
• GCC Countries
• Rest of MEA

Asia Pacific is projected to be the most profitable region in the global fluoropolymers market due to increasing inclination of automotive manufacturers towards setting up their manufacturing facilities in Asia Pacific. This is due to presence of favorable factors such as skilled labor, abundance of raw materials, cheaper setup cost as well as favorable governmental norms. Moreover, increasing population, rising per capita disposable incomes, growth in consumer spending and changing lifestyles of consumers is driving the overall automotive industry in the region which is further expected to drive the Asia Pacific fluoropolymers market. Moreover, rapid urbanization and increasing development of the construction industry especially in China, India, Korea and Indonesia is another key factor driving the Asia-Pacific fluoropolymers market. Asia Pacific, owing to its fast pace of economic development and high demand from a broad range of end-use industries such as automotive, electrical & electronics and construction is a frontrunner in the demand for fluoropolymers. Also, low production cost of PTFE and PVDF in China is anticipated to encourage market giants to open production facilities in China. Market players are majorly focusing on the Asia-Pacific region to strengthen their goodwill and gain market share to improve overall profitability. In addition, easy availability of raw materials such as fluorocarbons and ethylene at cheaper prices as well as increasing demand for PVDF from healthcare industry especially from Vietnam and Thailand, owing to rising governmental investments towards the advancement of healthcare facilities further fuels the Asia Pacific fluoropolymer market growth. North America is expected to account for the second largest share owing to increasing demand for automobiles as well as rising consumer spending especially in Canada. Also, increasing investments towards the betterment of healthcare industry further fuels the market growth.


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