High Performance Fluoropolymers Market Size is likely to grow at a steady rate from 2016 to 2024 due to increasing consumption of the polymers in industrial processing units, electrical & electronic industry, and automotive industry.
High performance fluoropolymers are polymers which contain fluorocarbon compounds and have unique characteristics such as high mechanical strength, low coefficient of friction, excellent electrical insulation, resistance against chemical environment and elevated temperature. High performance fluoropolymers provides better efficiency as compared to conventional materials. The combination of these unique characteristics has allowed the product to penetrate many end–user industries such as automobile, aviation, healthcare, electrical and electronic, building and construction, etc. The high performance fluoropolymers also finds its use in manufacturing of heat exchangers, cable insulation, semiconductor manufacturing, fabrics, water treatment plants, food processing and others such as paint coating, cookware, etc. due to its non-stick property owing to less surface energies.
High performance fluoropolymers market will flourish due to growing demand of high-strength light weight products used in automotive industries. Asia-Pacific will propel the growth rate of high performance fluoropolymers market in coming years due to increase in number of automotive manufacturing plants in the region. Rapid growth in the consumer electronics industry will also be a key growth driver for this market due to use of high performance fluoropolymer in smartphones and other such gadgets.
The high performance fluoropolymers are also used with additives to enhance the UV resistance properties of various products. This will provide significant opportunities for the high performance fluoropolymers market mostly in the industrial maintenance sector. Due to recent surge in environment concerns, governments in many countries have made new regulations for use of high performance fluoropolymers which will result in higher cost of raw materials which may hinder the overall growth of the market.
High performance fluoropolymers are segmented on basis of their types as fluorinated ethylene propylene (FEP), polyethylene tetrafluoroethylene (ETFE), polyvinyl tetrafluoro ethylene (PTFE), perfluoro alkoxy polymer (PFA) and others such as polyvinyl fluoride (PVF), polychlorotrifluoroethylene (PCTFE), polyvinylidene difluoride (PVDF), etc. PTFE is likely to share substantial amount in terms of value and volume, owing to vast applications, proper availability and excellent properties such as chemical resistance, and low cost as compared to other fluoropolymers. It is most extensively used polymer for dental filling, cookware, nonstick pans, water proof clothing, etc. FEP is the clearest plastic among high performance fluoropolymers and provides stress cracking resistance, as well as anti-corrosion property to tubes, sheets, and liners. The high performance fluoropolymers market is segmented, based on application, into additives, coatings, films, liner, mechanical parts and others including surface active agent, copolymer, etc.
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The market is segmented, based on application, into industrial processing, automotive & transportation, electrical & electronics, medical & healthcare and other end-users such as paint, coatings, cookware etc. Industrial processing is likely to have substantial share in terms of value and volume, owing to extensive product usage to provide heat and chemical resistance. The industrial processing includes chemical, textile, pharmaceutical, and food industries.
North America is likely to have a large consumption of high performance fluoropolymers due to its economic advancement and flourishing industries of chemical, electrical, electronics, automobile etc. The North American high performance fluoropolymers market will also flourish due to product usage in telecommunication industries for high speed data transmission over a wide distance as well as production of semiconductors, and wires & cables. Asia pacific is likely to be the most significant market for high performance fluoropolymers in terms of volume and value during the forecast period. The factors that will fuel the growth of Asia pacific are high economic growth, cheap labor, foreign investments, increase in manufacturing industries, easy availability of raw materials, and technological advancements. Countries including China, Japan, Korea, India, etc. has been witnessing high growth in the electronics & electrical industry which will fuel product demand in the Asia Pacific region in coming years.
The key players that are operating in the high performance fluoropolymers market are Shamrock Technologies, DuPont, Solvay, 3M, Gujarat Fluorochemicals ltd., Shanghai 3F New Materials Company Ltd., The Chemours Company, Hubei Everflon Polymer Co. Ltd., and Daikin Industries Ltd. Some other notable players in this market include Halo Polymer OJSC, Jiangsu Meilan Chemical Co. Ltd, Quadrant AG, Asahi Glass Co. Ltd, Dongyue Group Ltd, Chenguang Research Institute of Chemical Industry, Juhua Group Corporation, and Saudi Basic Industries Corporation (SABIC).
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.