Fluoropolymer Coating Market Report - Forecast till 2030

Fluoropolymer Coating Market: Information by Resin (Polyvinyl Fluoride (PVF), Polytetrafluoroethylene (PTFE), Fluorinated Ethylene Propylene (FEP), Ethylene Tetrafluoroethylene (ETFE), Perfluoroalkoxy Alkanes (PFA), and Others), by End-Use Industry (Building and Construction, Automotive, Aerospace, Electrical, Food Processing, and Others), Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa)—Forecast till 2030

ID: MRFR/CnM/3416-HCR | January 2023 | Region: Global | 143 Pages         

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Fluoropolymer Coating Market

The Fluoropolymer Coating Value is predicted to reach a value of USD 2,240.2 million by 2030 and a CAGR of over 6.1 % during the forecast period.

Segmentation
Information By Resin Polyvinyl Fluoride (PVF) Polytetrafluoroethylene (PTFE) Fluorinated Ethylene Propylene (FEP) Ethylene Tetrafluoroethylene (ETFE) Perfluoroalkoxy Alkanes (PFA) Others
By End-Use Industry Building and Construction Automotive Aerospace Electrical Food Processing Others
Key Players
Companies Profiled   Daikin Industries Ltd (Japan)   PPG Industries Inc. (US)   The Chemours Company (US)   KCC Corporation (South Korea)   Kansai Paints Co. Ltd (Japan)   The Sherwin-Williams Company (US)   Walter Wurdack Inc. (US)   Axalta Coating Systems Ltd (US)
Drivers
Market Driving Forces   Increasing demand for fluoropolymers coatings in food processing industry   Rising demand for industrial machinery protection
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Fluoropolymer Coating Market

The fluoropolymer coating is a combination of high-quality resin and fluoropolymer-based lubricants. It enhances the product’s durability and life span. These coatings give an aesthetic and protective look. Fluoropolymer coatings are highly used for industrial applications on various derivatives, such as stainless steel, steel alloys, concrete, carbon steel, brass, zinc, magnesium, and other metals, and non-metallic materials like elastomers, rubber, plastics, paper, glass, ceramics, and wood. Hence, the Fluoropolymer Coating Marketis higher in demand among industrial verticals.


 It also protects against mechanical, chemical, and environmental degradation; for example, it is applied in wiring insulation in airplanes to protect wiring from the risk of fire on aircraft. Therefore, the aviation industry is highly propelling the demand of the Fluoropolymer Coating Market.


The usage of fluoropolymer coatings is endless, and this coating is highly used to protect the part that is below it; it is resistant against various types of corrosion. Fluoropolymer coatings are considered durable types of non-stick coatings. They are commonly used in industrial coatings to prevent the concrete or steel from rusting and make the materials more resistant to fire or other chemicals.


The demand for Fluoropolymers coatings in the food industry is significant. It is used in the food processing industry to apply on trays and mold for making candy, bread, and cheese to prevent sticking. An increase in demand for fluoropolymer coatings in the food processing industry propels the Fluoropolymer Coating Market Size.


In count, the inclination of customers preferences and growth in the working population are influencing the customer eating habits and trends, favoring the food processing industry. This factor will boost the Fluoropolymer Coating Market Revenue. 


Several industrial verticals such as automotive, chemical, electronic, construction, electrical, and architectural have the higher application of fluoropolymer coating. These coatings offer useful attributes such as chemical resistance, electrical resistance, anti-galling properties, low friction coefficients, corrosion protection, and UV protection. Due to these features, the Fluoropolymer Coating Market receives lucrative demand. 


The global demand for fluoropolymers was estimated at approximately USD 7.25 billion in 2011. Driven by new developments of products, applications, and processes and strong demands in new markets, the demand is expected to grow by 5.8% in the following years.


Some of the world's largest manufacturers of fluoropolymers include DuPont, 3M, Solvay Chemicals, BASF and Dyneon.


The Fluoropolymer Coating Value is predicted to reach a value of USD 2,240.2 million by 2030 and a CAGR of over 6.1 % during the forecast period.


COVID-19 Analysis


During the COVID-19 pandemic, the Fluoropolymer Coating Market Share faced a problem when the industry operational units were shut down. The production of raw materials was halted, and supply chain management was disrupted. These factors have affected the sales sector of the market and resulted in revenue loss. On the other hand, the key players tried to uplift the Fluoropolymer Coating Market Growth by targeting the opportunities. This led to wide usage of the products among different countries worldwide. Therefore, the Fluoropolymer Coating Market will attain steady growth in the future years.


Chief Factors Existing In The Market


Key Market Drivers


The growth of the processing industry is the major factor driving factor of the market's growth. Similarly, improving wettability, anti-chipping, foam reduction, dispersing and UV protection of the coating material, development of the construction industry, growing penetration in paints, metals, construction, and bedding & furniture industries, increase in demand for bakery and ready-to-eat-foods along with changing customers preferences and increase in the working population are also driving the growth of the market. 


Market Challenges


The rise in environmental regulations and the growth of substitute coatings restrains the fluoropolymer coating market, whereas developing better results and raw material supply will challenge market growth.


Market Opportunities


The shift towards environmentally-friendly products and the rising building & construction industry will create ample opportunities for the fluoropolymer coating market.


Market Restraints


The high costs of some fluoropolymer resins are hampering the market’s growth which is a key restraining factor.


Cumulative Evaluation Of The Market


The evaluated report of the Fluoropolymer Coating Market Revenue shows its overall growth performance in recent years. The market dynamics role and effects were mentioned with its factors. The key drivers and opportunities are concentrated to achieve better results during the forecast period. The growth limiting factors are targeted to prevent the Fluoropolymer Coating Market Growth. Despite the pandemic, the market will reach its estimated CAGR in the evaluation period.


Market Segmentation


The Fluoropolymer Coating Industry is segmented into major segments such as resin and end-use, sub-segmented into other segments.


By Resin


The resin section of the market is classified into perfluoroalkoxy alkanes (PFA), polyvinyl fluoride (PVF), polytetrafluoroethylene (PTFE), fluorinated ethylene propylene (FEP), ethylene tetrafluoroethylene (ETFE), and others. The polyvinyl fluoride segment is considered the leading segment due to its wide application in end-use industries. 


The end-use industry segment is consists of automotive, aerospace, electrical, building and construction, food processing, and others. The building and construction section is the dominating segment of the global market with high share value.


Regional Analysis


The global Fluoropolymer Coating Market has been studied across five key regions: Asia-Pacific, North America, Latin America, Europe, and the Middle East & Africa.


The North American region is the largest due to the region's significant growth and wide consumption and production expansion. A major country such as the US is the leading marketer of this region due to its high-volume consumption for aircraft, electronics products, and automotive.  


The Asia-Pacific’s Fluoropolymer Coating Market is a rapid-growing region with a good share value of the Fluoropolymer Coating Market Share. The rise in the growth of construction projects influenced the application of fluoropolymer coatings in metals that are used in roofs. Properties of the coating, such as the ability, durability, and UV resistance, make it an ideal application for the construction sector. The increased rate of urban population is propelling the commercial and residential building activities, which is driving the regional market of this region.


The European market will show a remarkable pace in growth due to its increased application of fluoropolymers coatings in the food industry and electronic appliances. The Middle East & Africa, and Latin America regions are showing a steady growth rate due to increased public and private sector investment, especially in the construction industry.


Competitive Intensity Within The Industry 


The competition between the players helps develop the market at the global level. The players of the Fluoropolymer Coating Market are focusing on the opportunities and targeting the issues like constraints to let it flourish in different regions. The recent and future developments are raising the Fluoropolymer Coating Market Trends. The upgradation of the products will lift the market’s demand among the customers. Here are the major industrial players of the market. 




  • Daikin Industries Ltd (Japan)




  • PPG Industries Inc. (US)




  • The Chemours Company (US)




  • KCC Corporation (South Korea)




  • Kansai Paints Co. Ltd (Japan)




  • The Sherwin-Williams Company (US)




  • Walter Wurdack Inc. (US)




  • Axalta Coating Systems Ltd (US).




Recent Market Developments


Jan 2022 Fincantieri has begun work on the Italian Navy's first new Type 212 NFS (Near Future Submarine) at its Muggiano shipyard in La Spezia. The Italian Navy intends to acquire four additional boats under the Type 212 NFS program, based on the service's existing Todaro (Type 212A)-class air-independent propulsion diesel-electric submarines (SSKs). Fincantieri was granted a contract worth EUR1.35 billion (USD1.63 billion) to build the first pair in February 2021 under the Organisation for Joint Armament Cooperation (OCCAR). The two submarines are scheduled to be delivered in 2027 and 2029, according to the conditions of the agreement. The Type 212 NFS submarines will have a non-magnetic amanox hull that is 1.2 m longer than the existing boats. A redesigned stern with a propeller-optimized cap combined with pre-swirled rudders and a new fluoropolymer foul release hull coating over the Italian Navy's four in-service Todaro-class SSKs.Dec 2021 The US Patent & Trademark Office issued an Apple patent application relating to the gold technique used in the iPhone 12 Pro. The patent mentions fingerprints in this way: "During usage of a device by a user, the presence of the fluoropolymer layer may serve to diminish fingerprint visibility." The organic protective layer may include a fluoropolymer layer with thiol coupling groups to promote the gold-containing layer or a polymer layer with silane and thiol coupling groups that act as an adhesion promotion layer. It promotes the adhesion of an overlapping fluoropolymer layer with silane coupling groups.


Report Overview


The report of the Fluoropolymer Coating Market shows the growth of the market in the recent years and the market to continue the growth consistency in the future years. The chief factors of the market are mentioned, with their effective role briefly explained. The segments of the market and its progress in the review period were studied in detail. The regional analysis states the region covered by the market with its driving factors. The presence of prominent players was stated with their importance in the market’s growth. Further, the Fluoropolymer Coating Market Value will reach the estimated value during the forecast period.


Key Industrial Segments


By Resin




  • Polyvinyl Fluoride (PVF)




  • Polytetrafluoroethylene (PTFE)




  • Fluorinated Ethylene Propylene (FEP)




  • Ethylene Tetrafluoroethylene (ETFE)




  • Perfluoroalkoxy Alkanes (PFA)




  • Others




 By End-Use Industry 




  • Building and Construction




  • Automotive




  • Aerospace




  • Electrical




  • Food Processing




  • Others





Report Scope:

Report Attribute/Metric Details
  Market Size   USD 2,240.2 million
  CAGR   6.1%
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Resin and End-Use Industry
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Daikin Industries Ltd (Japan), PPG Industries Inc. (US), The Chemours Company (US), KCC Corporation (South Korea), Kansai Paints Co. Ltd (Japan), The Sherwin-Williams Company (US), Walter Wurdack Inc. (US), and Axalta Coating Systems Ltd (US)
  Key Market Opportunities   Growing demand for Flouropolymer Coating due to increasing expenditure on product innovation and purchasing power of consumers.
  Key Market Drivers ·  Increasing demand for fluoropolymers coatings in food processing industry. ·  Rising demand for industrial machinery protection
 

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Frequently Asked Questions (FAQ) :

The expected valuation would be USD 2,240.2 million by 2030.

The food processing industry would impact substantially.

North America would dominate the global platform.

The Asia Pacific would join as the fastest-growing fluoropolymer coating market.