Global Fluoropolymers Market: Type (PTFE, PVDF, FKM, FEP, ETFE, PCTFE), Application (Paints & Coating, Films, Additives, Tubing, Additives, Others) End Use (Chemical Processing, Construction, Automobile & Transportation, Household) – Forecast Till 2023
Market Scenario The Fluoropolymer is a kind of chemical compound which is made of the carbon fluoride bonds. It provides one with different properties including stress cracking, mechanical and electrical insulation properties, chemical resistance, thermal resistance, and others. Because of these properties, the fluoropolymers are highly used in various applications, right from coatings to the industrial films. Furthermore, it is also utilized in various household applications, electrical & electronics, construction sectors, and others. The Global Fluoropolymer market is anticipated to reach the value of USD 9,912.5 million by the year 2023. The global market is growing rapidly at a CAGR 6.45% during the valuation period (2017-2023).
There is an increasing demand for the high-quality performance material in the constructional and architectural coatings which is contributing to the growth of the global Fluoropolymer market. Also, there is a growing requirement for the best quality lightweight materials; especially in the automobile industry which is positively adding to the global fluoropolymers market and its growth. Due to its heat resistance properties, the fluoropolymers are found to be suitable for the utilization in the aerospace and semiconductor industry. Furthermore, the increasing consciousness regarding the environmental impacts has made the consumers shift their preference towards the usage of green fluoropolymers, which is projected to boost the market growth. Thus, the growing applications of the fluoropolymers in the different industries are driving the growth of the market during the forecast period.
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The global fluoropolymers market is bifurcated on the basis of type, end use, application, and geography. Based on its type, the market is divided into polyvinylidene fluoride (PVDF), polytetrafluoroethylene (PTFE), fluoroelastomers (FKM), ethylene tetrafluoroethylene (ETFE), fluorinated ethylene-propylene (FEP), polychlorotrifluoroethylene (PCTFE), and others. On the basis of its application, the market has been segmented into films, paints & coatings, additives, tubing, and others. The market’s end-user industries include chemical processing, electrical & electronics, automotive & transportation, construction, medical, industrial equipment, household, and others. Lastly, based on its geographical demand, the global market has been covered across regions like North America, Latin America, Asia Pacific, Europe, and the Middle East & Africa.
The list of major industry players in the global fluoropolymers market are Solvay SA(Belgium), DowDupont, Inc (U.S.), Asahi Glass Co, Ltd (Japan), Zeus Industrial Products, Inc. (the U.S), Daikin Industries, Ltd (Japan), 3M (U.S.), Honeywell International Inc. (U.S.), Saint-Gobain S.A. (France), and Gujarat Fluorochemicals Ltd (India) among others.
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