Fluoropolymer Market Foraying into Emerging Economies by 2025
Market Overview:
A fluoropolymer is ahigh-performance plastic materials used in high-temperature and harsh chemical environments, principally where an acute performance specification must be met. It is used by defense-related industries and in automotive, aerospace, electronics and telecommunications. They are also used in many consumer products such as non-stick pan. Fluoropolymers, especially PTFE and PVDF which are used in microporous membranes. The environment-friendly fluoropolymer is also being developed by manufacturers owing to its feature to overcome harsh environmental conditions. Global fluoropolymer market was valued, in 2017 USD XX million and in 2025 is expected to reach at USD XX million with growing CAGR of XX%.
Market Dynamics:
In order to meet the rising demand for medical devices, fluoropolymers are used on a large scale due to good dielectric properties, biocompatibility and lubricity. They are also being principally used for developing biomedical materials for artificial corneas and heart valves. Substituting many of the plastic products in the healthcare industry and therapeutic devices, fluoropolymer is emerging as one of the primarily used material. Having several unique properties such as high resistance to chemical and heat and low coefficient of a fraction, fluoropolymer is also used as a substitute of bone for knee, skull, hip, ear, and nose parts. Key players in the market are also concentrating on developing eco-friendly and recyclable fluoropolymers, which is resulting in the rising popularity of fluoropolymers in the healthcare sector.
However, stringent framework in production and usage of fluoropolymers employed by several regulatory bodies is anticipated to hinder industry growth.
Market Players:
Some of the leading players in the global market for fluoropolymer included are Asahi Glass Co., Ltd, Solvay S.A., Daikin Industries Ltd., E.I Dupont De Nemours and Company, The Chemours Company, Zeus Industrial Products Inc., Mexichem S.A.B. de C.V., 3M Company, W. L. Gore & Associates, Inc., Compagnie de Saint-Gobain S.A., Quadrant AG, Honeywell International Inc. and others. Existence of limited number of players are leading to the intense competition, hence companies are focusing on R&D activities to stay ahead in the competition.
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Market Segmentation:
The global fluoropolymer market is segmented into product, application and geography. On the basis of product the global market is bifurcated into fluoroelastomers, fluorinated ethylene propylene (FEP), polyvinylidene fluoride (PVDF), polytetrafluoroethylene (PTFE), and other. Based on application, the fluoropolymers market is segmented into automotive, electrical & electronics, construction, industrial applications, chemical processing, healthcare, and others (medical devices, pharmaceutical packaging, and drug delivery). Geographically, global fluoropolymers market is segmented into North America, Asia-Pacific, Europe, Middle-East & Africa, and Latin America. Asia-Pacific region is undergoing rapid advancements and surge in demand from emerging economies which has led to low cost production of PTFE in China and is anticipated to encourage manufacturers to open more production facilities in the region.
Market segmented based on product:
- Fluoroelastomers
- Fluorinated Ethylene Propylene (FEP)
- Polyvinylidene Fluoride (PVDF)
- Polytetrafluoroethylene (PTFE)
- Other.
Market segmented based on application:
- Automotive
- Electrical & Electronics
- Construction
- Industrial Applications
- Chemical Processing
- Healthcare
- Others
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Market segmented based on region:
- North America
• US
• Canada
• Mexico
- Europe
• UK
• Germany
• France
• Rest of Europe
- Asia-Pacific
• China
• Japan
• India
• Australia
• Rest of Asia-Pacific
- Latin America
• Brazil
• Rest of Latin America
- Middle East and Africa (MEA)
• South Africa
• Saudi Arabia
• Rest of MEA
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