Global fluoropolymers market size is predictable to mount at a moderate rate of approx. xx % over the forecast period.
The global fluoropolymer market is segmented into product, application and geography. On the basis of product the global market is bifurcated into fluoroelastomers, fluorinated ethylene propylene (FEP), polyvinylidene fluoride (PVDF), polytetrafluoroethylene (PTFE), and others. Based on application, the fluoropolymers market is segmented into automotive, electrical & electronics, construction, industrial applications, chemical processing, healthcare, and others (medical devices, pharmaceutical packaging, and drug delivery). Geographically, global fluoropolymers industry is segmented into North America, Asia-Pacific, Europe, Middle-East & Africa and South & Central America.
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The automotive application segment is expected to offer maximum market potential in the forecast period, owing to surge in global demand for automobiles and increase in investments for light weight automobiles. In addition, growth in public transportation expenditure is also anticipated to propel the demand for fluoropolymers in automotive application. In automotive industry the use of fluoropolymers has observed major developments, owing to constant development in per capita disposable income. However, fluctuation in prices of crude oil is anticipated to affect the growth of global fluoropolymers industry. Furthermore, investment in R&D activities is anticipated to offer future growth opportunities to the global market.
Asia-Pacific region is undergoing rapid developments and surge in demand from emerging economies which has led to low cost production of PTFE in China and is anticipated to encourage manufacturers to open more production facilities in the region. In addition, North America is also expected to fuel the growth of this market, this is due to large demand from industrial processing segments for PTFE in the region. Also, North American market is expected to witness swift growth in light of the growing manufacturing base of the construction, electronics and automotive sectors in the United States, as the majority of the Mexican motor vehicle exports are shipped to the United States.
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Some of the leading players in the global fluoropolymers market include Asahi Glass Co., Ltd, Solvay S.A., Daikin Industries Ltd., The Chemours Company, Zeus Industrial Products Inc., E.I Dupont De Nemours & Company, Mexichem S.A.B. de C.V., 3M Company, W. L. Gore & Associates, Inc., Compagnie de Saint-Gobain S.A., Quadrant AG, Honeywell International Inc. and others.
Key players in the fluoropolymers market are also concentrating on developing eco-friendly and recyclable fluoropolymers, which is resulting in the rising popularity of fluoropolymers in the healthcare sector. Stringent framework in production and usage of fluoropolymers employed by several regulatory bodies is anticipated to impede industry growth. Perfluorooctanoic acid (PFOA) which is used as a raw material is considered as carcinogenic by United States Environmental Protection Agency (USEPA). Usage in a widespread range of household products comprising non-stick cookware, stain-resistant carpets as well as furniture sprays are the major source of PFOA contamination, anticipated to hamper fluoropolymers industry growth over the forecast period.
However, limited number of market participants are leading to intense competition, hence companies are focusing on R&D activities to stay ahead in the competition. For instance, recently Quadrant had offered a product to the global engineering plastics market called “laser-writable polyoxymethylene”. With this progress, Quadrant is expected to meet the pharma and food industry requirements for laser-writable machine components with no risk of contamination in the food products. Also, Honeywell Aclar expanded the production ability of its Pharmaceutical Films industry in around November 2017, to meet the rising demand of pharmaceutical industry across the globe.
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fluoropolymer is a polymer that has molecules of fluorine and carbon. They are high-performance plastic materials used in high-temperature and harsh chemical environments, principally where an acute performance specification must be met. They are used by defense-related industries and in automotive, aerospace, electronics and telecommunications. They are also used in many consumer products such as non-stick pans. Fluoropolymers, especially PTFE and PVDF are used in micro porous membranes. The environment-friendly fluoropolymer is also being developed by manufacturers owing to its feature to overcome harsh environmental conditions. Fluoropolymers are substituting plastics owing to its chemical ability to function at high temperature. Thus, superior properties of fluoropolymers are offering companies to emphasize on innovative designs for substituting plastics with fluoropolymer.
In order to meet the rising demand for medical devices, fluoropolymers are used on a large scale due to good dielectric properties, biocompatibility and lubricity. They are also being principally used for developing biomedical materials for artificial corneas and heart valves. Substituting many of the plastic products in the healthcare industry and therapeutic devices, fluoropolymer is emerging as one of the primarily used material. Having several unique properties such as high resistance to chemical and heat and low coefficient of a fraction, fluoropolymer is also used as a substitute of bone for knee, skull, hip, ear, and nose parts.
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