Fluoropolymers Market

Fluoropolymers Market Size Analysis

According to a recent survey conducted by ChemView Consulting, the Global Fluoropolymers Market grew at a CAGR of 5.4% between 2017-2021 and is estimated to be US$ 8,021.3Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 6.1% and is expected to reach a valuation of US$ 14,501.0Mn by 2032 end.

The assessment period is expected to increase the worldwide fluoropolymer market significantly. Numerous end-use sectors, such as the automotive, industrial processes & appliances, healthcare, electrical & electronics, construction, and others, heavily rely on fluoropolymers. Electrical & electronics, as well as industrial processing & application, are propelling market expansion.

Market Dynamic

R&D KEY TO CONSOLIDATION IN THE FLUOROPOLYMER MARKET

Research and development (R&D) spending for introducing novel products is essential to the market’s expansion. The major competitors in the fluoropolymer market spend between 3.5 and 5% of their overall sales to launch cutting-edge products for end-user applications.

The increase in demand from end-use application industries needed to be catered to. Additionally, major businesses are improving production capacity globally to meet demand while using less energy, generating less carbon, and creating more efficient products.

CARELESS RELEASE OF PFAS TO ADVERSELY IMPACTS THE ENVIRONMENT

Polyfluoroalkyl chemicals and perfluoroalkyl substances (PFAS) present environmental concerns when emitted or disposed of at the industrial site. An insoluble PTFE may carry a small risk to your health or the environment. PFAS are released during the polymer’s manufacturing, use, and processing processes, including oligomers and monomers.

The diffuse release of PFAS to the environment after using and disposing of some PFAS-containing items may occur due to the different ways PFAS are used in consumer and commercial products. However, these could have a substantial negative influence on the ecosystem. The relative environmental relevance, distribution method, amounts emitted, and are affected by various PFAS sources and products vary. For instance, the air dispersion from the manufacturing of polymers may be moderately impacted by the use of Class B firefighting foam.

INCREASING USE OF LI-ION BATTERIES AND RENEWABLE ENERGY TO PROPEL MARKET GROWTH

Excellent chemicals, abrasion, corrosion resistance, and resistance to severe temperatures are all characteristics that help extend the lifespan of components, including fuel cells, photovoltaics, and batteries. The expanding world population and fast industrialization may influence energy demand. Global energy consumption is predicted to rise by almost 50% by 2040.

Renewable energies, such as solar, wind, and new energy vehicles (NEV), are constantly growing to reduce global warming. As a result, technological developments for power transmission, efficiency, and offers for new business models are blooming. Lithium-ion batteries and other power storage technologies are in high demand.

Market Segments Covered in Report

By Product Type:

• Polytetrafluoroethylene (PTFE)
• Polyvinylidene fluoride (PVDF)
• Polyvinyl Fluoride (PVF)
• Fluorinated Ethylene Propylene (FEP)
• Polychlorotrifluoroethylene (PCTFE)
• Perfluoroalkoxy Polymer (PFA)
• Others

By Application:

• Film
• Tube
• Sheet
• Pipe
• Membrane
• Sealant
• Roofing
• Additives
• Others

By End-Use:

• Automotive
• Industrial Processing & Application
• Healthcare
• Electrical & Electronics
• Construction
• Others

By Region and Country:

• North America (U.S., Canada)
• Latin America (Brazil, Mexico, Rest of Latin America)
• Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
• Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
• Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
• Africa (South Africa, Nigeria, Egypt, Rest of Africa)

Segment-Wise Analysis

Which product type is expected to be in high demand?

According to estimates, the fluoropolymer category’s market share of polytetrafluoroethylene (PTFE) is about 50%. Excellent electrical characteristics, including a low dielectric constant, good insulation resistance, and great thermal stability, are displayed by polytetrafluoroethylene (PTFE).

Who is the leading End User of Fluoropolymer?

The worldwide fluoropolymer market is expected to dominate the automotive sector significantly. Due to its superior mechanical characteristics and chemical and thermal resistance capabilities, the fluoropolymer is employed in many automobile components, including bearing separators, gaskets, and power steering.

Region-Wise Analysis

The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.

• The expansion of the Asia Pacific fluoropolymers market, which has a market share of 52.1%, is driven by rising demand from the construction, electrical, and pharmaceutical industries. The expansion of the regional market will be fueled by the rising demand for polyvinylidene fluoride (PVDF) and fluorinated ethylene propylene (FEP) for the production of wire & cable insulation, coatings, and semiconductor applications. The pharmaceutical industry is booming due to the rising demand for medications.
• During the projection period, Europe is expected to experience significant growth due to rising demand from the automotive sector. Europe is the largest private investor in R&D and the top producer of automobiles globally.

Competition Analysis

As market participants look to acquire a competitive edge, introducing new and innovative goods, solutions, and technologies for end-use industries is anticipated to remain a significant focus. Tier-I corporations intend to collaborate with complementary businesses to boost their market presence further and purchase them.

To gain a competitive edge, businesses in the market have been concentrating on developing new products and forming strategic alliances. Additionally, competitors have been investing a lot of resources in capacity expansion.

The key developments in the Global Fluoropolymers Market:

• In November 2019, the Solef PVDF AM filament was introduced by Solvay for additive manufacturing (AM). Through Solvay’s e-commerce platform for AM materials, the new specialty product, which targets fused filament fabrication (FFF) techniques, is accessible internationally.
• In July 2020, through a new joint venture, Guarniflon spA joined China’s high-tech fluoropolymer films sector. In partnership with Juhua Group Co. Corporation, the company manufactures PTFE and fluorinated copolymers and manufactures fluorochemicals in China. Due to this factor, the Quzhou, Zhoushan, Ningbo, Jiangsu, and Zhuji facilities in the Zhejiang provinces will produce more.

A list of some of the key suppliers present in the market are:

• Mitsubishi Chemical Advanced Materials
• AGC Chemicals Americas, Inc.
• The Chemour Company
• Honeywell International Inc.
• Huntsman Corporation
• Daikin Industries Limited
• Dongyue Group Ltd.
• Kureha Corporation
• Poly Fluoro Ltd.
• Amco Polymers
• Solvay SA
• Saint-Gobain Performance Plastics

Report Coverage and Highlights

• Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
• Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
• The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
• Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
• Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
• Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
• Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
• Key drivers, restraints, opportunities, and emerging trends impacting the market growth.
• Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
• Strategic market analysis, recommendations, and future headways on crucial winning strategies.