Fluoropolymer Materials Market: Segmented by Type (Polytetrafluoroethylene (PTFE), Fluoroelastomers, Polyvinylidene Fluoride (PVDF), and Fluorinated Ethylene Propylene (FEP)), By Application (Electrical and Electronics, Automotive and Transportation, Industrial Processing, and Building and Construction), and Region - Global Analysis of Market Size, Share & Trends for 2019-2020 and Forecasts to 2030
Fluoropolymer Materials Market to surpass USD 6.9 billion by 2030 from USD 3.5 billion in 2020 at a CAGR of 6.4% in the coming years, i.e., 2021-30.
Fluoropolymer materials are made up of fluorocarbon-based polymers with solid carbon-fluorine linkages. Fluoropolymers have a semi-crystalline structure and thus thermoplastic capabilities, which means that at a particular temperature, they become liquid or viscous, allowing them to be molded and shaped as needed. They are also very resistant to bases, solvents, and acids. Fluoropolymers come in two varieties: homopolymers and copolymers. Fluoropolymers are resistant to harsh media because fluorine has a higher stability than chlorine.
The expanding demand for the polymer from a variety of end-use sectors, as well as its increasing use in PV systems, are important driving drivers for the high-performance fluoropolymers business. The need for medical-grade fluoropolymers is exploding at a rapid rate. There is a strong demand for testing and other health equipment as a result of the corona outbreak. As a result, the worldwide fluoropolymer market will be driven in the forecasted period.
Global Fluoropolymer Materials market is segmented by type into polytetrafluoroethylene (PTFE), fluoroelastomers, polyvinylidene fluoride (PVDF), and fluorinated ethylene propylene (FEP). Polytetrafluoroethylene (PTFE) segment held the largest market share in the year 2020. The material is widely employed in the electrical and electronic industries, as well as in chemical processing. The fluoroelastomers category is predicted to increase at the quickest rate throughout the projection period. This can be attributable to the growing use of fluoroelastomers, which have excellent chemical, oil, and heat resistance. Furthermore, as compared to other fluoropolymer kinds, these materials can withstand temperatures above 200 °C for longer.
Global Fluoropolymer Materials market is divided by application into electrical and electronics, automotive and transportation, industrial processing, and building and construction. Electrical and electronics segment held the largest market share in the year 2020 due to increased demand in the near future due to their increasing use in cable and wire insulation, jacketing, and semiconductor fabrication, as well as their widespread use in lithium-ion batteries. Furthermore, due to fluoropolymers' non-adhesiveness and low friction, as well as their resilience to weather, heat, and chemicals, industrial processing as a fluoropolymer application field is expected to increase significantly.
Wide usage in sectors as well as features like high resistance
Fluoropolymer materials are widely employed in automotive, electrical and electronic, and aerospace applications, which continue to fuel the global fluoropolymer materials market. Fluoropolymers are used to coat data transmission cables, automotive cables, and electronic cables in the electrical and electronics industry. The elastomer and thermoplastic forms of fluoropolymers are widely utilized in the automobile industry because they offer resistance to high temperatures, lubricants, and fuels, boosting the global market.
Investments in new products and increasing demand
Research and development (R&D) investment for the launch of innovative products is critical to market growth. Key companies in the fluoropolymer market invest in new product development for end-use applications. It was created to meet the growing demand from end-user industries. Furthermore, significant businesses around the world are concentrating on increasing production capacity to meet global demand while using less energy, generating less carbon, and manufacturing more efficient products.
Environmental as well as health issues
The fluoropolymer market is projected to be hampered by a stringent regulatory environment. The USEPA considers perfluorooctanoic acid (PFOA), which is used as a raw ingredient, to be carcinogenic. The main cause of PFOA contamination is its use in a wide range of domestic items, such as furniture sprays and stain-resistant carpets, which is expected to stymie industry expansion in the coming years.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Global Fluoropolymer Materials market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Due to rising demand for high-quality medical, automotive, consumer, and electronics products, the APAC high-performance fluoropolymers market has been driven by the existence of big manufacturing hubs in China and India. China, India, Japan, and South Korea are only a few of the world's leading and largest automakers, generating steady demand for fluoropolymer goods in the transportation industry. Furthermore, these countries are major producers and exporters of a wide range of medical and pharmaceutical, electronics, automotive, and chemical products around the world.
|Market size value in 2020||USD 3.5 billion|
|Revenue forecast in 2030||USD 6.9 billion|
|Growth Rate||CAGR of 6.4% from 2021 to 2030|
|Base year for estimation||2020|
|Quantitative units||Revenue in USD million and CAGR from 2021 to 2030|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Segments covered||Type, application, and Region|
|Regional scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)|
Key companies profiled
|Shanghai 3F, Jinan 3F Fluoro-Chemical Co. Ltd, AGC Chemicals Europe, Dyneon GmbH,3M, AGC Chemicals Europe, Zhonghao Chenguang Research Institute of Chemical Industry, DuPont, Solvay Solexis, Ltd., Gujarat Fluorochemicals Ltd., and Other Prominent Players.|
The Fluoropolymer Materials Market size was estimated at USD 3.5 billion in 2020 and is expected to reach 6.9 billion by 2030.
Key players: Shanghai 3F, Jinan 3F Fluoro-Chemical Co. Ltd, AGC Chemicals Europe, Dyneon GmbH,3M, AGC Chemicals Europe, Zhonghao Chenguang Research Institute of Chemical Industry, DuPont, Solvay Solexis, Ltd., Gujarat Fluorochemicals Ltd., and Other Prominent Players
Polytetrafluoroethylene (PTFE) segment and Electrical and electronics segment are anticipated to hold the largest Fluoropolymer Materials Market.
Drivers: Wide usage in sectors as well as features like high resistance and Investments in new products and increasing demand
Fluoropolymer materials are made up of fluorocarbon-based polymers with solid carbon-fluorine linkages. Fluoropolymers have a semi-crystalline structure and thus thermoplastic capabilities, which means that at a particular temperature, they become liquid or viscous, allowing them to be molded and shaped as needed. They are also very resistant to bases, solvents, and acids.
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