Market Research Future published a half cooked research report on Global High Performance Fluoropolymer Market that contains the information from 2017 to 2023.
High Performance Fluoropolymers are fluorocarbon based polymers with multiple strong carbon fluorine bonds. Owing to their excellent thermal and chemical resistance, they are widely used in the ends use industries such as aviation & automobiles, electrical & electronics, industrial processing, medical, and others. Moreover, their molecules possess continuous non-reactive surface and are widely compatible with solvents and chemicals. They are ideal for biopharmaceutical and pharmaceutical processing equipment due to their excellent durability against solvents and non-stickiness. They are widely preferable over conventional chlorinated and hydrocarbon polymers due to their thermo stability at even higher temperature.
Increasing demand from general industry as well as improving aviation & automotive sector drives the growth of the High Performance Fluoropolymer Market. Rapid industrialization coupled with rising per capita disposable income in emerging economies likely to boost the market growth over the forecast years. However, high performance fluoropolymers are relatively expensive than the other conventional plastics, which may hamper the market growth over the assessment period.
Key Players Profiles and Competitive Analysis:
The major players operating in the High Performance Fluoropolymer Market include Solvay (Belgium), 3M (U.S.), DuPont (U.S.), Shamrock Technologies (U.S.), The Chemours Company (U.S.), DAIKIN INDUSTRIES, Ltd. (Japan), AGCCE (U.K), Gujarat Fluorochemicals Ltd. (India), Hubei Everflon Polymer CO., Ltd. (China), Shanghai 3F New Materials Co., Ltd.(China) among others.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of key vendors.
The Global High Performance Fluoropolymer Market is divided into types, applications, end use industries and regions.
On the basis of types, the market is segmented into fluorinated ethylene propylene (FEP), perfluoroalkoxy polymer (PFA), polytetrafluoroethylene (PTFE), polyethylenetetrafluoroethylene (ETFE), and others. The other fluoropolymer includes polyvinylidene difluoride (PVDF), polychlorotrifluoroethylene (PCTFE), polyvinylfluoride (PVF).
On the basis of applications, the market is segmented into coatings & liner, mechanical parts & component, film, additives, and others. Coatings & liner application segment is expected to be the dominating application segment among others due to a wide utilization of high performance fluoropolymer in coatings of equipment and vessels, valves, and other industrial application.
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Based on end use industries, the market is segmented into aviation & automobiles, electrical & electronics, industrial processing, medical, and others. Among the various end use industries, industrial processing segment is expected to hold the largest market share, in terms of volume, followed by aviation & automobiles, electrical & electronics, and material. The largest share of industrial processing segment is attributed to the increased usage of high performance fluoropolymers in water treatment, oil & gas industry, food processing, chemical processing, and pharmaceutical processing industries for equipment maintenance and repairing. Moreover, construction and electrical & electronics market is expected to witness significant growth due to rising demand for photovoltaic modules as interest in alternative energy source such as solar power cells.
North America is projected to be the largest high performance fluoropolymer market followed by Asia Pacific and Europe on account of increasing demand from electrical & electronics, aviation, and medical industries. Emerging economies such as China, India, and Malaysia are the fastest growing market for the high performance fluoropolymer, and is expected to grow with the same pace over the assessment period. Various factors that are attributed to the market growth in Asia Pacific are improved living standards, ease in the availability of raw material, and competitive manufacturing costs. North American high performance fluoropolymer market is expected to witness a substantial growth since the U.S. and Canada are major contributors due to medical industry expansion. In Europe, high performance fluoropolymer market is expected to grow at sluggish rate due to high import duties, resulting in the high prices for high performance fluoropolymers in this region.