ID: MRFR/CnM/2335-CR | March 2021 | Region: Global | 252 pages
Global Fluoropolymers Market is projected to register a CAGR of 6.50% to reach USD 11,823.1 Million by the end of 2027.
Fluoropolymers possess extensive physical and chemical properties. Thus, they are suitable for various end-use and high-tech applications and are widely used in the electrical & electronics, automotive, and building & construction industries.
The escalating demand from these end-use industries coupled with ongoing R&D for product development boosts the growth of the global market. Moreover, with the increasing shift towards green fluoropolymers and the global chemical trend of sustainability in the chemical industry, manufacturers are extending their product portfolios by offering bio-based fluoropolymers to end-users. However, global market growth is hampered by stringent regulations by governments related to carbon emission, thereby, driving the trend towards the alternative use of fluoropolymers by numerous end-use industries.
Global Fluoropolymers Market Revenue, By Application, 2019 (USD Million)
Sources: MRFR Analysis
Global Fluoropolymers Market is segmented based on Type, Application, End-Use Industry, and Region.
Global Fluoropolymers Market has been categorized, based on type, into polytetrafluoroethylene (PTFE), polyvinylidene fluoride (PVDF), fluoroelastomers (FKM), fluorinated ethylene-propylene (FEP), ethylene tetrafluoroethylene (ETFE), polychlorotrifluoroethylene (PCTFE), and others. Among these, the polytetrafluoroethylene (PTFE) segment accounted for more than 40% of the global market share in 2019. This polymer is widely used as a non-stick coating for pans and cookware, insulation of wiring in aerospace and electrical industries, medical appliances, and automotive and industrial products.
By Application, the fluoropolymers market is divided into coatings, films & sheets, tubes, additives, and others. The coatings segment was valued at USD 2,376.3 million in 2019.
Based on the End-Use Industry, the Global Fluoropolymers Market has been segmented into . In terms of value, the chemical processing segment dominated the global market with a 29.03% share in 2019 and is projected to register a healthy CAGR of 6.40%. Moreover, the building and construction segment is anticipated to exhibit the highest CAGR of 7.65%, owing to increased demand for architectural coating.
Global Fluoropolymers Market Share, By Region, 2019 (%)
Sources: MRFR Analysis
Global Fluoropolymers Market has been studied across five regions, namely, Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa. The market in Asia-Pacific held the largest market share of over 42.65% in 2018, with a market value of around USD 3,093.6 million. This is mainly attributed to the growing adoption of specialty fluoropolymers in the healthcare industry for the production of medical devices.
Key Players operating in the Global Fluoropolymers Market include The Chemours Company (US), 3M (US), AGC Chemical (Japan), Arkema (France), Kureha Corporation (Japan), Daikin Industries, Ltd (Japan), and Honeywell International Inc. (US).
These Players dominate the global market with more than 50% share of the overall market. These companies have a global revenue base, advanced production technologies, a wide product portfolio, brand identity, vast industry experience, integrated production facilities, and an extensive distribution network.
Global Fluoropolymer Market, By Type
Global Fluoropolymer Market, By Application
Global Fluoropolymer Market, By End-Use Industry
Global Fluoropolymer Market, By Region
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|Market Size||2027: USD 11,823.1 Million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Application, End-Use Industry|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||The Chemours Company (US), 3M (US), AGC Chemical (Japan), Arkema (France), Kureha Corporation (Japan), Daikin Industries, Ltd (Japan), and Honeywell International Inc. (US)|
|Key Market Opportunities|
|Key Market Drivers|
Frequently Asked Questions (FAQ) :
The fluoropolymers market is predicted to grow at a 6.5% CAGR between 2015-2023.
The global fluoropolymers market is predicted to touch USD 9,912.5 million by 2023.
Asia Pacific is predicted to lead the fluoropolymers market during the forecast period.
Need for lightweight materials in the automobile industry coupled with the demand for top-quality performance material is boosting the market growth.
Strict government regulations to reduce carbon emission may hamper the fluoropolymers market growth.