Pune, India, June 2019, MRFR Press Release/- Market Research Future has Published a Half-Cooked Research Report on the Global Fluoropolymer Coating Market.
Fluoropolymer coating provides a smooth surface finishing and lubrication to various products. Apart from that, it also enables protection against liquids and impermeability to gasses. The products also enjoy other benefits such as high resistance towards moisture, corrosion, chemicals, UV radiation, and chalking. Fluoropolymer coatings also last for a long time, hence, reducing recoating costs and the consumption of raw materials.
Owing to the excellent properties mentioned above, fluoropolymer coatings boast a diverse array of applications in various industries such as oil & gas, building & construction, industrial, automotive, aerospace, as well as, food processing. Such a broad scope of application is anticipated to influence positive growth in the global Fluoropolymer Coating Market. The latest market research report by MRFR highlights the fact that the fluoropolymer coatings market is estimated to witness a staggering CAGR through the forecast period.
Additional factors contributing to the ascending growth noted in the fluoropolymer coatings market include the increasing population across the globe. High performance of fluoropolymer coating as compared to acrylic and silicone-based coatings provides cost-effectiveness, even though the cost of fluoropolymer coatings is higher than other types of coatings. Such cost-effectiveness is causing a bigger inclination towards the use of such coatings during the forecast period. Mushrooming urbanization and industrialization worldwide is creating incidental demand for fluoropolymer coating through the forecast period. Improvements in the purchasing power led by better economic conditions are also driving the global fluoropolymer market to a great extent.
The global fluoropolymer protective coating market is segmented by MRFR on the basis of type, end-use, and region. Based on type, the global market is segmented into fluoroethylene vinyl ether (FEVE), polyvinylidene fluoride (PVDF), ethylene tetrafluoroethylene copolymer (ETFE), polytetra fluoroethylene (PTFE), fluorinated ethylene propylene (FEP), and polyvinyl fluoride (PVF). Based on end-use, the fluoropolymer coating market is segmented into aerospace, construction, automotive, oil & gas, food processing, and cookware.
The global fluoropolymer coating market is highly influenced by the activities of various prominent market giants including Whitford Corporation (U.S.), Daikin Industries, Ltd. (Japan), Akzo Nobel N.V. (the Netherlands), E. I. du Pont de Nemours & Company (U.S.), PPG Industries, Inc. (U.S.), The Valspar Corporation (U.S.), The Becker Group, Ltd. (U.S.), BASF SE (Germany), TIGER Drylac U.S.A., Inc. (U.S.), and Toefco Engineered Coating Systems, Inc. (U.S.).
The fluoropolymer coating market is segmented into five regions of Europe, Asia Pacific, North America, and the Middle East & Africa. Among these regions, Asia Pacific is anticipated to lead the global fluoropolymer coating market. Such growth can be on account of expansion noticed in various industries such as food processing and oil & gas and a rising need to protect machinery. Cookware products are used on a large scale owing to the growing population in the region, leading to rising demand for protective coatings through the forecast period.
North America is projected to exhibit remarkable growth due to the growing demand for new vehicles in the U.S. Improved efficiency and durability of automobiles; fluoropolymer coatings are applied to various parts such as pistons, sliding bearings, cylinder blocks, exhaust nozzles, valve trains, and suspension elements. The U.S. is estimated to spearhead the country-specific market in North America for fluoropolymer protective coating market and is likely to garner substantial growth through the review period.
Europe is expected to witness substantial growth in the demand for fluoropolymer coating from various countries, including Germany, Spain, Italy, UK, Russia, and France. This can be attributed to the purchasing power of consumers and increasing investments made on innovation. Furthermore, the presence of many significant market players from the automotive industry in the region, especially in Germany, is expected to provide a new impetus to market growth.
Middle East & Africa is expected to exhibit sizeable market growth owing to rising demand for fluoropolymer coating from the architectural sector. In Latin America, Argentina, Brazil, and Columbia are estimated to grow at a high rate throughout the assessment period. Such growth is attributable to the increasing consumer spending capacity on passenger cars and rising focus towards the involvement of latest technologies and inventions in fluoropolymer coating.
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