August 31, 2021 06:58 ET | Source: Research and Market Research and Market
Dublin, August 31, 2021 (GLOBE NEWSWIRE) - "The global fluoropolymer market, by type (ETFE, PFA, ECTFE, PCTFE, PTFE, PVF, PVDF, others), by form (dispersion, granular , Powder), by application (pipeline, other), by end user industry (household, other), by region, estimates and forecasts, the 2017-2027" report has been added to ResearchAndMarkets.com's products. The market value of the global fluoropolymer market in 2020 is 7.588 billion U.S. dollars and is expected to reach 10.196.5 billion U.S. dollars by 2027. The compound annual growth rate of this market during the forecast period is expected to be 4.3%. The market volume in 2020 is approximately 356,660.1 tons, which is expected to grow at a compound annual growth rate of 3.8%. Fluoropolymers are fluorocarbon-based polymers containing multiple carbon-fluorine bonds. They are very resistant to acids, bases and solvents. The increasing application of fluoropolymers in the industry, as well as increased expenditures on construction activities and infrastructure development projects, are expected to drive market growth. However, compared with traditional materials, the high cost of fluoropolymers coupled with environmental sustainability is estimated to hinder market growth. Due to the closure of companies in the aerospace, automotive, and electronics industries due to the lockdown, the market experienced a negative impact during the COVID-19 pandemic. Growth influencers:
The application of fluoropolymers in the automotive industry continues to expand. Fluoropolymers are used in various parts of vehicle engines in the automotive industry to improve their durability and performance. Fluoropolymer tubes can also seal and protect parts from hazardous chemicals and high temperatures, which can affect the ability of the engine to run. In addition, trends in the automotive industry, such as emission-free mobility, fuel efficiency, and connected cars, are also expected to drive market growth. Increased expenditure on construction activities and infrastructure development projects Fluoropolymers are used in construction activities and infrastructure development projects due to their low surface tension. Films made of fluoropolymers are self-cleaning and can wash away accumulated dirt with just rain. Its many characteristics make it a highly durable protective coating for a range of architectural coating formulations. According to data from the US Department of Commerce, as of June 2021, US construction expenditures were US$1552.2 billion. Therefore, increased spending on construction activities and infrastructure development projects is expected to drive market growth. Overview of market segments:
The global fluoropolymer market is segmented according to type, form, application, and end-user industry. By type
The polytetrafluoroethylene (PTFE) market segment will occupy the largest share in 2020, at approximately 46%. This is due to its heat and chemical resistance, high electrical insulation and extremely low coefficient of friction. It is estimated that by 2027, the ethylene trifluoroethylene (ECTFE) segment will grow at the fastest growth rate of 5.8%, and the fluorinated ethylene propylene (FEP) segment is expected to maintain a market capacity of approximately 40,695.3 tons.
Due to the high demand for granular fluoropolymers, the granular part occupies the largest market share of approximately 70%. The powder part is expected to grow at the fastest rate in terms of value and quantity. By application
The sheet market segment is expected to grow at the fastest rate, with a value growth of 5.3% and a volume growth of 4.8%. This is due to the increasing demand for fluoropolymer films in the construction and automotive industries. By 2025, the output of the membrane part is expected to reach 16,156.5 tons. By end user industry
Due to the increasing use of fluoropolymers in filter membranes, flue gas heat exchangers, pharmaceutical processing equipment, and coatings, the industrial equipment sector has the largest market share, about 50%. During the forecast period, the medical device sector is expected to grow at a compound annual growth rate of 7.7%. In transportation equipment, it is estimated that by 2027, the market capacity of the automotive segment is approximately 29,938.4 tons. Regional overview
By region, the global fluoropolymer market is divided into Europe, North America, Asia Pacific, Middle East and Africa, and South America. Due to the rapid growth of the construction and automotive industries, the Asia-Pacific region is expected to become the largest contributor to production, exceeding approximately 200,000 tons by 2024, especially in India, Indonesia, and China because of supporting regulations to promote industry investment. North America is expected to become the second largest contributor to sales. Competitive landscape
Major players operating in the global fluoropolymer market include 3M, Arkema Group, Asahi Glass Co., Ltd., Daikin Industrial Co., Ltd., Dongyue Group, Dow DuPont, Ensinger, Gujarat Fluorochemicals Ltd, Halopolymer , OJSC, Honeywell International Inc., Hubei Everflon Polymer CO., Ltd, Itaflon Srl, Jiangsu Meilan Chemical Co., Ltd., Juhua Group Corporation, Kureha Corporation, WL Gore & Associates, Inc, Lee & Man Chemical Company Limited, Polyfluor Plastics bv , Saint-Gobain SA, Shandong Hengyi New Material Technology Co., Ltd., Shanghai Huayi 3F New Material Co., Ltd., Solvay Co., Ltd., Chemours Chenguang Fluorine Materials (Shanghai) Co., Ltd., Zeus Industrial Products Co., Ltd., etc. The cumulative market share of the five major players is close to 68%. These market participants participate in cooperation, mergers and acquisitions and new product launches to strengthen their market share. For example, in May 2021, Arkema acquired Agiplast, a company specializing in the recycling of high-performance polymers, especially specialty polyamides and fluoropolymers. The global fluoropolymer market report provides insights on the following points:
The global fluoropolymer market report answers the following questions:
Key topics covered: Chapter 1 Research Framework Chapter 2 Research Methods Chapter 3 Executive Summary: Global Fluoropolymer Market Chapter 4 Global Fluoropolymer Market Overview Chapter 5 Global Fluoropolymer Market Analysis (by Type ) Chapter 6 Global fluoropolymer market analysis (by form) Chapter 7 Global fluoropolymer market analysis, by application Chapter 8 Global fluoropolymer market analysis, by end user industry Chapter 9 Global fluoropolymer Market analysis by region/country Chapter 10 North American fluoropolymer market analysis Chapter 11 European fluoropolymer market analysis Chapter 12 Asia-Pacific region fluoropolymer market analysis Chapter 13 Middle East and Africa fluoropolymer market Analysis Chapter 14 South American Fluoropolymer Market Analysis Chapter 15 U.S. Fluoropolymer Market Analysis Chapter 16 Companies mentioned in Company Profile
For more information about this report, please visit https://www.researchandmarkets.com/r/g03c9e