Fluoropolymers Market Report
RA08543
Fluoropolymers Market by Type (PTFE, FEP, PVDF, Fluoroelastomers, PVF, PFA, ETFE, and Others), Application (Film, Tube, Sheet, Pipe, Membrane, Sealant, Roofing, Additives, and Others), End-use Industry (Transportation Equipment, Electrical & Electronics, Construction, Industrial Equipment, and Others), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2021–2028
Global Fluoropolymers Market Analysis
The global fluoropolymers market is anticipated to garner $11,924.6 million in the 2021–2028 period, rising from $7,520.9 million in 2020, at a noteworthy CAGR of 5.9%.
Market Synopsis
Versatile properties of fluoropolymers to accelerate the global market growth during the analysis period.
On the other hand, the growth of global fluoropolymers market is restrained by stringent policies by governments regarding carbon emission.
According to the regional analysis of the fluoropolymers market, the Asia-Pacific market is anticipated to surge at a CAGR of 6.0%, by registering a revenue of $6,470.0 million, during the forecast period.
Fluoropolymers Overview
Fluoropolymer is a chemical compound that contains multiple bonds of carbon fluoride which provides various properties including electrical & mechanical insulation, chemical resistance, stress cracking, thermal resistance, and others. Fluoropolymers play crucial role in wide range of applications such as coatings & industrial films, construction, and electrical & electronics.
Impact Analysis of COVID-19 on the Global Fluoropolymers Market
In response to the Covid-19 situation, business sectors such as transportation, retail, petroleum, and tourism industry have been forced to reconsider their business model and policies. Moreover, global fluoropolymers industry has also witnessed declined growth, during the outbreak period mainly because of global supply chain disruptions and demand supply imbalance.
On the other hand, in March 2020, Inhance Technologies, a global technology company specializing in plastics and chemicals, announced it has official launched the process to eliminate perfluoroalkyl substances (PFAS) from fluoropolymer resins. Such effective product developments will create significant impact on the global fluoropolymers market, during the COVID-19 situation.
Versatile Properties of Fluoropolymers to Accelerate the Global Market Growth
Fluoropolymers have the broad range of beneficial properties. They are highly biocompatible, lubricant, and have significant dielectric applications. Hence, they are gaining surged demand from the healthcare sector, particularly for surgical procedures. Moreover, they are most recommended plastic items which play vital role in various surgeries, like heart valves or corneas. In addition to this, the increasing use of fluoropolymers in newer applications like dental ware, waterproof clothing, and others is also expected to bolster the global fluoropolymers market growth, in the analysis period.
To know more about global fluoropolymers market drivers, get in touch with our analysts here.
Stringent Government Regulation may Obstruct the Growth of the Global Fluoropolymers Market
However, the growth of global fluoropolymers market is restrained by stringent policies by governments regarding carbon emission. Also, lower product penetration in the Latin- American and African countries is declining the global fluoropolymers market growth, throughout the forecasted period.
The Growing Use of Fluoropolymers in Green Technology to Create Massive Opportunities in the Global Fluoropolymers Market
Fluoropolymers are the most convenient and superior material to manufacture green technology applications, from wind turbines to photovoltaic panels. Fluoropolymers help in improving durability by providing protection against extreme weather and environments, including hail, rain, humidity, UV light, wind, and extreme temperatures. In addition to this, improved efficiency and safety, insulation against electricity and chemicals, protection against corrosion, tensile strength, and resistant to high working pressures are some of the factors expected to create opportunities for the investors in the global fluoropolymers market, in the coming years.
To know more about global fluoropolymers market opportunities, get in touch with our analysts here.
Based on type, the market has been divided into PTFE, FEP, PVDF, Fluoroelastomers, PVF, PFA, ETFE, and others of which the PVDF sub-segment is anticipated to have the significant growth, throughout the forecast period. Download PDF Sample ReportFluoropolymers Market
By Type
Source: Research Dive Analysis
The PVDF sub-segment is expected to have the lucrative growth in the global market and register a revenue of $1,883.7 million by 2028.
Polyvinylidene difluoride (PVDF) is projected to experience the noticeable growth significantly because its key role as insulation material in electrical wires as it has numerous properties including low weight, flexibility, high chemical corrosion resistance, low thermal conductivity, and heat resistance. Moreover, rising significance of piezoelectric materials in electronic sector is further projected to favor market growth for PVDF in the coming year. In addition to this, growing expenditure in the development of PVDF-based architectural coatings is anticipated to accelerate the sub-segment’s growth, in the analysis period.
PTFE sub-segment of the global fluoropolymers market is anticipated to have largest share and surpass $6,306.5 million by 2028, with a rise from $3,924.9 million in 2020.
Polytetrafluoroethylene (PTFE) is the synthetic fluoropolymer which is an incredibly versatile material with a wide variety of properties such as non-wetting, hydrophobic, resistant to high temperatures, and high density. Also, robust chemical stability and improved wear resistance are notable properties of PTFE, paving its way for its use in manufacture linings, gaskets, pump interiors, spacers, washers, and seals in industrial applications.
Fluoropolymers Market
By ApplicationBased on application, the market has been divided into film, tube, sheet, Pipe, membrane, sealant, roofing, additives, and others of which the film sub-segment is anticipated to have the significant growth, throughout the forecast period.
Source: Research Dive Analysis
The film sub-segment is expected to have the rapid growth in the global market and register a revenue of $2,548.0 million by 2028.
Properties such as chemical resistance, high insulation, weather & UV resistance, high temperature tolerance, and low-coefficient tolerance are expected to increase the demand for film sub-segment, in the forecast period. Owing to above-mentioned characteristics, the film sub-segment plays important part in aerospace, food packaging, electronic industries, and pharmaceuticals, which may accelerate the market growth.
Pipe sub-segment of the global fluoropolymers market is anticipated to have significant share in 2020, and surpass $3,563.7 million by 2028, with a rise from $2,262.0 million in 2020.
Exponential surge in the demand for pipes particularly in the building & construction industry is the main driving factor for pipes sub-segment. Furthermore, due to increased focus of government authorities on rural water management programs, the demand for fluoropolymers pipes has massively increased across the developing nations such as India.
Fluoropolymers Market
By End-Use IndustryBased on end-use industry, the market has been categorized into transportation equipment, electrical & electronics, construction, Industrial Equipment, and others. Out of these, the Industrial Equipment sub-segment is anticipated to garner the maximum revenue in the global market, throughout the analysis period.
Source: Research Dive Analysis
The industrial equipment sub-segment of the global fluoropolymers market is estimated to grow at the most notable CAGR and surpass $4,933.4 million by 2028, with a rise from $3,006.3 million in 2020.
The growing demand from industrial manufacturing worldwide for high-performing and innovative materials that can withstand chemically and thermally harsh environments is one of the factors fueling the sub-segment’s growth. Also, fluoropolymers are exceptionally resistant to chemical reactions, high temperatures, corrosion, and stress cracking. All these factors are further expected to bolster the sub-segment’s growth.
Global Fluoropolymers Market, Regional Insights:
The fluoropolymers market was investigated across North America, Europe, Asia-Pacific, and LAMEA.
Source: Research Dive Analysis
The Market for Fluoropolymers in Asia-Pacific to be the Most Lucrative
Asia-Pacific fluoropolymers market accounted $4,045.2 million in 2020 and is expected to register a revenue of $6,470.0 million by 2028.
The prominent presence of large manufacturing hubs particularly in India and China has driven the Asia-Pacific fluoropolymers market. In addition to this, increasing demand for consumer & electronics products, automotive, and high-quality medical across the Asia-Pacific region is also driving the fluoropolymers market, in the region. Also, India, China, South Korea, and Japan are largest automotive manufacturers in the globe, which creates huge demand for fluoropolymer products in the transportation sector. All these factors are positively impacting the Asia-Pacific fluoropolymers market.
Competitive Scenario in the Global Fluoropolymers Market
Component launches and mergers & acquisitions are common strategies followed by major market players.
Source: Research Dive Analysis
Some of the leading fluoropolymers market players are Daikin Industries Limited, Chemours (DuPont), Solvay SA, Asahi Glass Co. Ltd., Arkema SA, 3M (Dyneon GmbH), Dongyue Group Ltd, Gujarat Fluorochemicals Ltd. (GFL), Halopolymer Ojsc, and Honeywell International Inc.
Porter’s Five Forces Analysis for the Global Fluoropolymers Market:
- Bargaining Power of Suppliers: The suppliers operating in the global fluoropolymers are high in number and are much larger and more globalized. So, there will be less threat from the supplier.
Thus, the bargaining power of the supplier is low. - Bargaining Power of Buyers: Buyers demand effective fluoropolymers product at lower cost. This has increased the pressure on the multiple providers to offer the fluoropolymers products in a cost-effective way. Thus, many suppliers are offering best yet cost–effective fluoropolymers products. This gives the buyers the option to freely choose fluoropolymers products that best fit their preference.
Thus, the bargaining power of the buyers is high. - Threat of New Entrants: The companies entering the global fluoropolymers market are adopting technological innovations to attract customers. Also, these companies are implementing various effective strategies and there is government support in some countries.
Thus, threat of the new entrants is high. - Threat of Substitutes: There is no alternative component available.
Thus, the threat of substitutes is low. - Competitive Rivalry in the Market: The competitive rivalry among the industry leaders is rather intense, especially between the global players including Daikin Industries Limited, Chemours (DuPont), and Solvay SA. These companies are launching their value-added services in the international market and strengthening the footprint worldwide.
Therefore, the competitive rivalry in the market is high.
| Aspect | Particulars |
| Historical Market Estimations | 2019-2020 |
| Base Year for Market Estimation | 2020 |
| Forecast timeline for Market Projection | 2021-2028 |
| Geographical Scope | North America, Europe, Asia-Pacific, LAMEA |
| Segmentation by Type |
|
| Segmentation by Application |
|
| Segmentation by End-user Industry |
|
| Key Countries Covered | U.S., Canada, Mexico, Germany, France, UK, Italy, Spain, Russia, Rest of Europe, China, Japan, India, Australia, South Korea, Rest of Asia-Pacific, Brazil, Saudi Arabia, United Arab Emirates, Rest of LAMEA |
| Key Companies Profiled |
|
Q1. What is the size of the fluoropolymers market?
A. The global Fluoropolymers market size was over $7,520.9 million in 2020 and is projected to reach $11,924.6 million by 2028.
Q2. Which are the major companies in the fluoropolymers market?
A. Daikin Industries Limited, Chemours (DuPont), and Solvay SA are some of the key players in the global fluoropolymers market.
Q3. Which region possesses greater investment opportunities in the coming future?
A. The Asia-Pacific region possesses great investment opportunities for the investors to witness the most promising growth in the future.
Q4. What is the growth rate of the Asia-Pacific market?
A. Asia-Pacific fluoropolymers market is anticipated to grow at 6.0% CAGR during the forecast period.
Q5. What are the strategies opted by the leading players in this market?
A. Capacity expansion, component development, along with joint ventures are the key strategies opted by the operating companies in this market.
Q6. Which companies are investing more on R&D practices?
A. 3M (Dyneon GmbH) and Dongyue Group Ltd are investing more on R&D activities for developing new components and technologies.
1.Research Methodology
1.1.Desk Research
1.2.Real time insights and validation
1.3.Forecast model
1.4.Assumptions and forecast parameters
1.4.1.Assumptions
1.4.2.Forecast parameters
1.5.Data sources
1.5.1.Primary
1.5.2.Secondary
2.Executive Summary
2.1.360° summary
2.2.By type trends
2.3.By application trends
2.4.By end-use industry trends
3.Market overview
3.1.Market segmentation & definitions
3.2.Key takeaways
3.2.1.Top investment pockets
3.2.2.Top winning strategies
3.3.Porter’s five forces analysis
3.3.1.Bargaining power of consumers
3.3.2.Bargaining power of suppliers
3.3.3.Threat of new entrants
3.3.4.Threat of substitutes
3.3.5.Competitive rivalry in the market
3.4.Market dynamics
3.4.1.Drivers
3.4.2.Restraints
3.4.3.Opportunities
3.5.Technology landscape
3.6.Regulatory landscape
3.7.Patent landscape
3.8.Pricing overview
3.8.1.by type
3.8.2.by application
3.8.3.by end-use industry
3.9.Market value chain analysis
3.9.1.Stress point analysis
3.9.2.Raw material analysis
3.9.3.Manufacturing process
3.9.4.Distribution channel analysis
3.9.5.Operating vendors
3.9.5.1.Raw material suppliers
3.9.5.2.Product manufacturers
3.9.5.3.Product distributors
3.10.Strategic overview
4.Fluoropolymers Market, by type
4.1.PTFE
4.1.1.Market size and forecast, by region, 2020-2028
4.1.2.Comparative market share analysis, 2020 & 2028
4.2.FEP
4.2.1.Market size and forecast, by region, 2020-2028
4.2.2.Comparative market share analysis, 2020 & 2028
4.3.PVDF
4.3.1.Market size and forecast, by region, 2020-2028
4.3.2.Comparative market share analysis, 2020 & 2028
4.4.Fluoroelastomers
4.4.1.Market size and forecast, by region, 2020-2028
4.4.2.Comparative market share analysis, 2020 & 2028
4.5.PVF
4.5.1.Market size and forecast, by region, 2020-2028
4.5.2.Comparative market share analysis, 2020 & 2028
4.6.PFA
4.6.1.Market size and forecast, by region, 2020-2028
4.6.2.Comparative market share analysis, 2020 & 2028
4.7.ETFE
4.7.1.Market size and forecast, by region, 2020-2028
4.7.2.Comparative market share analysis, 2020 & 2028
4.8.Others
4.8.1.Market size and forecast, by region, 2020-2028
4.8.2.Comparative market share analysis, 2020 & 2028
5.Fluoropolymers Market, by Application
5.1.Film
5.1.1.Market size and forecast, by region, 2020-2028
5.1.2.Comparative market share analysis, 2020 & 2028
5.2.Tube
5.2.1.Market size and forecast, by region, 2020-2028
5.2.2.Comparative market share analysis, 2020 & 2028
5.3.Sheet
5.3.1.Market size and forecast, by region, 2020-2028
5.3.2.Comparative market share analysis, 2020 & 2028
5.4.Pipe
5.4.1.Market size and forecast, by region, 2020-2028
5.4.2.Comparative market share analysis, 2020 & 2028
5.5.Membrane
5.5.1.Market size and forecast, by region, 2020-2028
5.5.2.Comparative market share analysis, 2020 & 2028
5.6.Sealant
5.6.1.Market size and forecast, by region, 2020-2028
5.6.2.Comparative market share analysis, 2020 & 2028
5.7.Roofing
5.7.1.Market size and forecast, by region, 2020-2028
5.7.2.Comparative market share analysis, 2020 & 2028
5.8.Additives
5.8.1.Market size and forecast, by region, 2020-2028
5.8.2.Comparative market share analysis, 2020 & 2028
5.9.Others
5.9.1.Market size and forecast, by region, 2020-2028
5.9.2.Comparative market share analysis, 2020 & 2028
6.Fluoropolymers Market, by End-Use Industry
6.1.Transportation Equipment
6.1.1.Market size and forecast, by region, 2020-2028
6.1.2.Comparative market share analysis, 2020 & 2028
6.2.Electrical and Electronics
6.2.1.Market size and forecast, by region, 2020-2028
6.2.2.Comparative market share analysis, 2020 & 2028
6.3.Construction
6.3.1.Market size and forecast, by region, 2020-2028
6.3.2.Market size and forecast, by region, 2020-2028
6.4.Industrial Equipment
6.4.1.Market size and forecast, by region, 2020-2028
6.4.2.Comparative market share analysis, 2020 & 2028
6.5.Others
6.5.1.Market size and forecast, by region, 2020-2028
6.5.2.Market size and forecast, by region, 2020-2028
7.Fluoropolymers Market, by Region
7.1.North America
7.1.1.Market size and forecast, by type, 2020-2028
7.1.2.Market size and forecast, by application, 2020-2028
7.1.3.Market size and forecast, by end-use industry, 2020-2028
7.1.4.Market size and forecast, by country, 2020-2028
7.1.5.Comparative market share analysis, 2020 & 2028
7.1.6.U.S.
7.1.6.1.Market size and forecast, by type, 2020-2028
7.1.6.2.Market size and forecast, by application, 2020-2028
7.1.6.3.Market size and forecast, by end-use industry, 2020-2028
7.1.6.4.Comparative market share analysis, 2020 & 2028
7.1.7.Canada
7.1.7.1.Market size and forecast, by type, 2020-2028
7.1.7.2.Market size and forecast, by application, 2020-2028
7.1.7.3.Market size and forecast, by end-use industry, 2020-2028
7.1.7.4.Comparative market share analysis, 2020 & 2028
7.1.8.Mexico
7.1.8.1.Market size and forecast, by type, 2020-2028
7.1.8.2.Market size and forecast, by application, 2020-2028
7.1.8.3.Market size and forecast, by end-use industry, 2020-2028
7.1.8.4.Comparative market share analysis, 2020 & 2028
7.2.Europe
7.2.1.Market size and forecast, by type, 2020-2028
7.2.2.Market size and forecast, by application, 2020-2028
7.2.3.Market size and forecast, by end-use industry, 2020-2028
7.2.4.Market size and forecast, by country, 2020-2028
7.2.5.Comparative market share analysis, 2020 & 2028
7.2.6.Germany
7.2.6.1.Market size and forecast, by type, 2020-2028
7.2.6.2.Market size and forecast, by application, 2020-2028
7.2.6.3.Market size and forecast, by end-use industry, 2020-2028
7.2.6.4.Comparative market share analysis, 2020 & 2028
7.2.7.UK
7.2.7.1.Market size and forecast, by type, 2020-2028
7.2.7.2.Market size and forecast, by application, 2020-2028
7.2.7.3.Market size and forecast, by end-use industry, 2020-2028
7.2.7.4.Comparative market share analysis, 2020 & 2028
7.2.8.France
7.2.8.1.Market size and forecast, by type, 2020-2028
7.2.8.2.Market size and forecast, by application, 2020-2028
7.2.8.3.Market size and forecast, by end-use industry, 2020-2028
7.2.8.4.Comparative market share analysis, 2020 & 2028
7.2.9.Spain
7.2.9.1.Market size and forecast, by type, 2020-2028
7.2.9.2.Market size and forecast, by application, 2020-2028
7.2.9.3.Market size and forecast, by end-use industry, 2020-2028
7.2.9.4.Comparative market share analysis, 2020 & 2028
7.2.10.Italy
7.2.10.1.Market size and forecast, by type, 2020-2028
7.2.10.2.Market size and forecast, by application, 2020-2028
7.2.10.3.Market size and forecast, by end-use industry, 2020-2028
7.2.10.4.Comparative market share analysis, 2020 & 2028
7.2.11.Rest of Europe
7.2.11.1.Market size and forecast, by type, 2020-2028
7.2.11.2.Market size and forecast, by application, 2020-2028
7.2.11.3.Market size and forecast, by end-use industry, 2020-2028
7.2.11.4.Comparative market share analysis, 2020 & 2028
7.3.Asia Pacific
7.3.1.Market size and forecast, by type, 2020-2028
7.3.2.Market size and forecast, by application, 2020-2028
7.3.3.Market size and forecast, by end-use industry, 2020-2028
7.3.4.Market size and forecast, by country, 2020-2028
7.3.5.Comparative market share analysis, 2020 & 2028
7.3.6.China
7.3.6.1.Market size and forecast, by type, 2020-2028
7.3.6.2.Market size and forecast, by application, 2020-2028
7.3.6.3.Market size and forecast, by end-use industry, 2020-2028
7.3.6.4.Comparative market share analysis, 2020 & 2028
7.3.7.India
7.3.7.1.Market size and forecast, by type, 2020-2028
7.3.7.2.Market size and forecast, by application, 2020-2028
7.3.7.3.Market size and forecast, by end-use industry, 2020-2028
7.3.7.4.Comparative market share analysis, 2020 & 2028
7.3.8.Japan
7.3.8.1.Market size and forecast, by type, 2020-2028
7.3.8.2.Market size and forecast, by application, 2020-2028
7.3.8.3.Market size and forecast, by end-use industry, 2020-2028
7.3.8.4.Comparative market share analysis, 2020 & 2028
7.3.9.South Korea
7.3.9.1.Market size and forecast, by type, 2020-2028
7.3.9.2.Market size and forecast, by application, 2020-2028
7.3.9.3.Market size and forecast, by end-use industry, 2020-2028
7.3.9.4.Comparative market share analysis, 2020 & 2028
7.3.10.Australia
7.3.10.1.Market size and forecast, by type, 2020-2028
7.3.10.2.Market size and forecast, by application, 2020-2028
7.3.10.3.Market size and forecast, by end-use industry, 2020-2028
7.3.10.4.Comparative market share analysis, 2020 & 2028
7.3.11.Rest of Asia Pacific
7.3.11.1.Market size and forecast, by type, 2020-2028
7.3.11.2.Market size and forecast, by application, 2020-2028
7.3.11.3.Market size and forecast, by end-use industry, 2020-2028
7.3.11.4.Comparative market share analysis, 2020 & 2028
7.4.LAMEA
7.4.1.Market size and forecast, by type, 2020-2028
7.4.2.Market size and forecast, by application, 2020-2028
7.4.3.Market size and forecast, by end-use industry, 2020-2028
7.4.4.Market size and forecast, by country, 2020-2028
7.4.5.Comparative market share analysis, 2020 & 2028
7.4.6.Latin America
7.4.6.1.Market size and forecast, by type, 2020-2028
7.4.6.2.Market size and forecast, by application, 2020-2028
7.4.6.3.Market size and forecast, by end-use industry, 2020-2028
7.4.6.4.Comparative market share analysis, 2020 & 2028
7.4.7.Middle East
7.4.7.1.Market size and forecast, by type, 2020-2028
7.4.7.2.Market size and forecast, by application, 2020-2028
7.4.7.3.Market size and forecast, by end-use industry, 2020-2028
7.4.7.4.Comparative market share analysis, 2020 & 2028
7.4.8.Africa
7.4.8.1.Market size and forecast, by type, 2020-2028
7.4.8.2.Market size and forecast, by application, 2020-2028
7.4.8.3.Market size and forecast, by end-use industry, 2020-2028
7.4.8.4.Comparative market share analysis, 2020 & 2028
8.Company profiles
8.1. Daikin Industries Limited
8.1.1.Business overview
8.1.2.Financial performance
8.1.3.Product portfolio
8.1.4.Recent strategic moves & developments
8.1.5.SWOT analysis
8.2.Chemours (DuPont)
8.2.1.Business overview
8.2.2.Financial performance
8.2.3.Product portfolio
8.2.4.Recent strategic moves & developments
8.2.5.SWOT analysis
8.3.Solvay SA
8.3.1.Business overview
8.3.2.Financial performance
8.3.3.Product portfolio
8.3.4.Recent strategic moves & developments
8.3.5.SWOT analysis
8.4.Asahi Glass Co. Ltd.
8.4.1.Business overview
8.4.2.Financial performance
8.4.3.Product portfolio
8.4.4.Recent strategic moves & developments
8.4.5.SWOT analysis
8.5.Arkema SA
8.5.1.Business overview
8.5.2.Financial performance
8.5.3.Product portfolio
8.5.4.Recent strategic moves & developments
8.5.5.SWOT analysis
8.6.3M (Dyneon GmbH)
8.6.1.Business overview
8.6.2.Financial performance
8.6.3.Product portfolio
8.6.4.Recent strategic moves & developments
8.6.5.SWOT analysis
8.7.Dongyue Group Ltd
8.7.1.Business overview
8.7.2.Financial performance
8.7.3.Product portfolio
8.7.4.Recent strategic moves & developments
8.7.5.SWOT analysis
8.8.Gujarat Fluorochemicals Ltd. (GFL)
8.8.1.Business overview
8.8.2.Financial performance
8.8.3.Product portfolio
8.8.4.Recent strategic moves & developments
8.8.5.SWOT analysis
8.9.Halopolymer Ojsc
8.9.1.Business overview
8.9.2.Financial performance
8.9.3.Product portfolio
8.9.4.Recent strategic moves & developments
8.9.5.SWOT analysis
8.10.Honeywell International Inc.
8.10.1.Business overview
8.10.2.Financial performance
8.10.3.Product portfolio
8.10.4.Recent strategic moves & developments
8.10.5.SWOT analysis
Fluoropolymer is a chemical compound that has multiple carbon-fluorine bonds, and is characterized by having great deal of chemical resistance. Therefore, they are highly resistant to acids, bases and solvents. They also provide various other properties such as stress cracking, electrical & mechanical insulation, thermal resistance, and others. They have relatively low coefficients of friction, provide an impeccable durability and are virtually unbreakable. Fluoropolymers play a prominent role in an extensive range of applications in the electronics and constriction industry.
Forecast Analysis of the Global Fluoropolymers Market
Fluoropolymers are highly biocompatible, and have considerable dielectric applications. Therefore, their growing demand from the healthcare sector for a number of surgical procedures is expected to drive the growth of the market during the forecast period. In addition, growing application of fluoropolymers in green technology such as dental ware and waterproof clothing is further expected to bolster the growth of the fluoropolymers market. Moreover, increasing use of fluoropolymers in green technology applications like photovoltaic panels, wind turbines, etc. is expected to create ample opportunities for the growth of the market during the forecast period. However, stringent regulations and policies imposed by the governments regarding the carbon emission is expected to impede the growth of the global fluoropolymers market during the forecast period.
According to the report published by Research Drive, the global fluoropolymers market is anticipated to generate a revenue of $11,924.6 million by 2028, growing rapidly at a CAGR of 5.9% during the forecast period 2021-2028. The major players of the market include Daikin Industries Limited, Chemours (DuPont), Solvay SA, Halopolymer Ojsc, and Honeywell International Inc., Asahi Glass Co. Ltd., Arkema SA, 3M (Dyneon GmbH), Gujarat Fluorochemicals Ltd. (GFL), Dongyue Group Ltd, and many more.
Key Developments
The key companies operating in the industry are adopting various growth strategies & business tactics such as partnerships, collaborations, mergers & acquisitions, and launches to maintain a robust position in the overall market, which is subsequently helping the global dentures market to grow exponentially.
For instance, in February 2021, Arkema S.A., a specialty chemicals and advanced materials company, announced that they will invest a considerable amount of money to maximize its fluoropolymer production capacities by 35% in Changshu, China by the end of 2022. This new development mainly driven by immense demand in the lithium-ion battery business along with notable opportunities in construction coatings, water filtration, and semiconductor industries.
In December 2021, Gujarat Fluorochemicals Limited, an Indian Chemicals Company with over 30 years of expertise in Fluorine Chemistry holding domain expertise in Fluoropolymers, Fluorospecialities, Refrigerants and Chemicals, catering to the material requirements of modern world, announced the incorporation of two wholly owned subsidiary companies – GFCL Solar and Green Hydrogen Products Limited (GSGHPL) and Gujarat Fluorochemicals FZE. GFCL Solar and Green Hydrogen Products Limited will provide necessary solutions for the entire value chain of all types of products and components for solar power systems, green hydrogen production, etc., while Gujarat Fluorochemicals FZE, will comprehend on trading and manufacturing of chemicals.
In February 2021, The Chemours Company, a dominant American chemical company announced the division its former Fluoroproducts segment into two new reportable segments: Thermal & Specialized Solutions (TSS, formerly Fluorochemicals) and Advanced Performance Materials (APM, formerly Fluoropolymers). This change will accelerate management focus and decision-making, resource allocation, transparency and accountability and customer-centered approach.
COVID-19 Impact on the Market
The outbreak of the coronavirus has had a devastating impact on the growth of the global fluoropolymers market, owing to the prevalence of lockdowns in various countries across the globe. This is majorly due to large-scale disruptions in the global supply chains and demand supply imbalance due to the adverse impact on various sectors like petroleum, transportation, tourism, retail, and others. Thus, COVID-19 has had a negative impact on the growth of the market.
Most Profitable Region of the Market
The Asia-Pacific region is expected to dominate the global market during the forecast period, and generate a revenue of $6,470.0 million during the forecast period. Growing demand for consumer & electronics products, high-quality medical, automotive, and others are expected to drive the growth of the market during the forecast period. In addition, the presence of large automotive manufacturers in this region is further expected to accelerate the growth of the market during the forecast period.
Personalize this research
- Triangulate with your own data
- Request your format and definition
- Get a deeper dive on a specific application, geography, customer or competitor
- + 1-888-961-4454 Toll - Free
- support@researchdive.com
