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As per the report published by Fior Markets, the global fluoropolymer tubing market is expected to grow from USD 624.57 million in 2021 and to reach USD 13179.86 million by 2029, growing at a CAGR of 4.64% during the forecast period 2021-2029.
The fluoropolymer tubing market is witnessing significant growth in the past years. This growth is attributed to the rising usage in end-use industries, increasing demand for the high-quality performance material in the construction & architectural coatings, growing requirement for the best quality lightweight materials, particularly in the automobile enterprise, and the rising applications fluoropolymers in the various industries. Furthermore, the industrial processing, transportation (automotive & aerospace), medical industries, and electrical & electronics broadly utilize fluoropolymer tubing due to their benefits across other polymer tubing & versatile properties also help boost the market growth.
A fluoropolymer refers to a polymer with a carbon backbone & fluorine to form strong carbon-fluoride bonds. These polymers are approvingly durable with different features of high chemical & mechanical strength and electrical insulation as compared to many other polymers. Fluoropolymer tubing is made with non-stick fluoropolymer resins, integrated with low extractable levels & chemically inert nature, resisting thermal & mechanical shock and non-aging. Fluoropolymer tubing is designed to incorporate the strengths of PTFE & FEP tubing. This product offers the customers the best of both globes or the best of both fluoropolymers in this particular case. Fluoropolymer tubing can also be created into custom coils.
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The global fluoropolymer tubing market is expected to witness significant growth due to the rising demand for fluoropolymer tubing in the medical enterprise, increasing usage of fluoropolymers in sutures, catheters, syringes, & bio-containment vessels, and trends in the automotive enterprise like connected vehicles, emission-free mobility, & fuel efficiency. The high expense of fluoropolymer compared to conventional material & environmental sustainability is expected to hamper the market growth. The climactic as they can be comprehended to devise various bends are the opportunities for the market growth.
Key players operating in the global fluoropolymer tubing market include Optinova, Saint-Gobain, Teleflex Inc., TE Connectivity, Zeus Industrial Products, AMETEK, Tef-Cap Industries, Swagelok, Parker Hannifin, Fluorotherm, and Adtech, and among others. To gain a significant market share in the fluoropolymer tubing market, the key players are now focusing on adopting product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships. Zeus Industrial is vital manufacturers operating in the fluoropolymer tubing market.
The medical segment dominated the market and held the largest market share of 56.12% in the year 2021
On the basis of application, the global fluoropolymer tubing market is segmented into semiconductor, medical, oil & gas, fluid management, automotive, general industrial, aerospace, and others. The medical segment dominated the market and held the largest market share of 56.12% in the year 2021. This growth is attributed to the easy availability of cost-competitive medical-grade plastics. Additionally, the increasing entrance to healthcare supplies worldwide and rising demand for medical devices that incorporate tubing also help to propel the segment’s growth. Moreover, the OEMs demand medical tubing that is more straightforward to reduce & replace the risks of drug contamination & infection are also helps to boost the segment’s growth.
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PTFE segment dominated the market and held the largest market share of 21.19% in the year 2021
On the basis of material, the global fluoropolymer tubing market is segmented into PFA, PTFE, FEP, PVDF, ETFE, and others. PTFE segment dominated the market and held the largest market share of 21.19% in the year 2021. This growth is attributed to the high electrical insulation, thermal & chemical resistance, and very low coefficient of friction. Moreover, the development of manufacturing industries, economic growth, cheap labor, growing application area, and the increasing foreign investments of PTFE in chemical & industrial electronics & processing enterprises are also helping to boost the segment’s growth.
Regional Segment of Fluoropolymer Tubing Market
Based on geography, the fluoropolymer tubing market has been classified into North America, Europe, Latin America, Asia Pacific, and the Middle East and Africa. The North America region holds the largest market share of 32.13% in the year 2021. This growth is attributed to the rising demand for advanced medical devices & pharmaceutical packaging. Furthermore, the high-performance polymers allow the development of smaller, faster, and more durable semiconductors, transistors, and microprocessors are also helping to boost the region’s growth. The market in the Asia Pacific is expected to witness significant growth due to the improved consumption of fluoropolymers in this region. Also, growing urbanization, industrialization, and population are helping to drive the region’s growth. Additionally, the increasing demand from different end-use enterprises like oil & gas, medical, semiconductor, automotive, and energy also helps to drive the region’s growth.
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The global fluoropolymer tubing market is analysed on the basis of value (USD Million). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insights of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitors’ position grid analysis.
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Fior Markets is a futuristic market intelligence company, helping customers flourish their business strategies and make better decisions using actionable intelligence. With transparent information pool, we meet clients’ objectives, commitments on high standard and targeting possible prospects for SWOT analysis and market research reports. Fior Markets deploys a wide range of regional and global market intelligence research reports including industries like technology, pharmaceutical, consumer goods, food and beverages, chemicals, media, materials and many others.
Avinash D Head of Business Development Phone: +1-201-465-4211 Email: [email protected] Web: www.fiormarkets.com
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