Fluoropolymers Market Outlook - 2027
The global fluoropolymers market size was valued at $7.7 billion in 2019, and is projected to reach $11.7 billion by 2027, growing at a CAGR of 6.5% from 2020 to 2027.
Fluoropolymer is a chemical compound, containing bonds of carbon fluoride. It offers different properties such as chemical resistance, electrical and mechanical insulation, thermal resistance, stress cracking, and others. For many applications, these properties pave the way for fluoropolymers, from coatings to industrial films. It is also used in domestic uses, building, and electrical & electronics.
The global fluoropolymers market growth is driven primarily by rise in demand from the end-use application sectors. Fluoropolymers have various beneficial properties. They are highly lubricant, biocompatible, and have excellent dielectric applications. They are thus gaining growing demand from the medical sector, especially for medical surgery. Currently, it is common to use plastic items in many different surgeries, such as corneas or heart valves. Such products can affect the body toxically, as they are not biocompatible. This also raises significant long-term questions about the overall health of the patient. This made the use of fluoropolymers in such medical procedures extremely attractive.
The global fluoropolymers market is segmented on the basis of product type, application, end-use industry, and region. On the basis of product type, the market is divided into PTFE, FEP, PVDF, Fluoroelastomer, PVF, PFA, ETFE, and others. The others sub-segment is further divided into PCTFE, ECTFE, and others. Depending on application, the fluoropolymers market is divided into film, tube, sheet, pipe, membrane, sealant, roofing, additives, and others.
By end-use industry, the market is segmented into transportation equipment, electrical and electronics, construction, industrial equipment, and others. The transportation segment is further divided into automotive vehicles, aerospace, and others. Whereas, the electrical and electronics segment is divided into wire & cable, photovoltaic modules, batteries, and fuel cells. Industrial equipment is further separated into chemical & pharmaceutical equipment, semiconductor manufacturing equipment, and other industrial process. The others segment is categorized into cookware, textiles, lubricants, and others. Region wise, the fluoropolymers market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The market players operating in the global fluoropolymers market are Arkema SA, Asahi Glass Company Limited, The Chemours Company, Daikin Industries, Dongue Group, Dupont, Honeywell, Mitsubishi Chemical, SABIC Innovative Plastics, Saint-Gobain, Shin-Etsu Chemical, Solvay SA, and 3M Company.
By Type
PTFE is projected as the most lucrative segment.
Fluoropolymers Market, By Product Type
By product type, the PTFE segment dominated the fluoropolymers market in 2019, and is projected to remain the fastest-growing segment. PTFE exhibits excellent chemical & thermal resistance, very low coefficient of friction, and high electrical insulation. It is used in a wide range of applications such as semiconductors, automotive components, electrical appliances, and non-stick frying pans.
By Application
Pipe is projected as the most lucrative segment.
Fluoropolymers Market, By Application
By application, the pipes segment accounted for the highest market share of around 30.1% in 2019, and is projected to maintain the same during the forecast period. Fluoropolymers pipes are commonly used by petrochemicals, pharmaceuticals, chemicals, and almost every business involved in the handling of extremely volatile and corrosive solvents and acids for their manufacturing needs.
By End-use Industry
Industrial Equipment is projected as the most lucrative segment.
Fluoropolymers Market, By End-Use Industry
By end-use industry, the industrial equipment segment accounted for around 39.8% of the fluoropolymers market share in 2019. Fluoropolymers are widely used in industrial processing industries for various applications such as pumps, impellers, tanks, heat exchanger coatings, reaction vessels, autoclaves, flue duct expansion joints, and others.
By Region
Asia-Pacific holds a dominant position in 2019 and would continue to maintain the lead over the forecast period.
Fluoropolymers Market, By Region
By region, Asia-Pacific is projected to be the fastest growing market, owing to rise in demand for fluoropolymers products. The presence of large manufacturing hubs in China and India drives the Asia-Pacific fluoropolymers market, owing to increase in demand for high-quality medical, automotive, consumer, and electronics products.
Key Benefits For Stakeholders
- The report provides an in-depth analysis of the fluoropolymers market trends along with the current and future market forecast.
- This report highlights the key drivers, opportunities, and restraints of the market along with the impact analyses during the forecast period.
- Porter’s five forces analysis helps analyze the potential of the buyers & suppliers and the competitive scenario of the fluoropolymers industry for strategy building.
- A comprehensive fluoropolymers market analysis covers factors that drive and restrain the market growth.
- The qualitative data in this report aims on market dynamics, trends, and developments.
Fluoropolymers Market Report Highlights
| Aspects | Details |
 By Product Type |
|
 By Application |
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 By End Use Industry |
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 By Region |
|
 Key Market Players | SOLVAY SA, DONGYUE GROUP CO., LTD., 3M COMPANY, DAIKIN INDUSTRIES, LTD., AGC INC., THE CHEMOURS COMPANY, ARKEMA S.A., SABIC, SHIN-ETSU CHEMICAL CO., LTD., DUPONT, MITSUBISHI CHEMICAL CORPORATION, HONEYWELL INTERNATIONAL INC., SAINT GOBAIN |
Analyst Review
As per the CXO of the leading companies, the global fluoropolymers market is moving toward growth stabilization phase in its industry life cycle. Growth in demand from transportation equipment, electrical & electronics, construction, industrial equipment, and other sectors drives the global fluoropolymers market. PTFE has outstanding chemical & thermal resistance, exceptionally low friction coefficient and good electrical insulation. This is used in a wide range of applications including semiconductors, automotive parts, electronic devices, and non-stick frying pans. In addition, PTFE is also less costly than other forms of HPF which has powered its production. Industrial equipment is also the largest revenue-generating segment for fluoropolymers and is expected to remain dominant during the forecast period. Furthermore, the presence of major manufacturing hubs in China and India has driven the Asia-Pacific high-performance fluoropolymers industry due to the growing demand for high quality automotive, medical, consumer, and electronic goods. China, India, Japan, and South Korea are few of the world's leading & largest automobile manufacturers, which regularly generates demand for fluoropolymer products in the transport industry. Furthermore, these countries are the world's leading producers and exporters of various medical & pharmaceutical, telecommunications, automotive, and chemical industries.
Factors that drive the growth of the fluoropolymers market include increasing demand for the fluropolymer from various end user applications
The global fluoropolymers market anticipated to grow at CAGR of 6.5% during the forecast period.
The key trend observed in the global fluoropolymers market are involvement of players towards research and development of new fluoropolymers products.
Asia-Pacific region is expected to provide lucrative growth opportunities to the global fluoropolymers market.
New product launches, business expansions, and acquisition are the major growth strategies adopted by the players in this market.
The market players are adopting various growth strategies and also investing in R&D extensively to develop technically advanced unique products which are expected to drive the market size.
PTFE is the largest segment in the global fluoropolymers market.
Major customer of the fluoropolymers are from transportation equipment, electrical and electronics, construction, and industrial equipment are the key potential consumers in the fluoropolymers market.
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