The global fluoropolymer market registered sales of around 720 kilotons in 2015 and is expected to surpass 939 kilotons by 2020, says Technavio.
Technavio has announced its latest market research report on fluoropolymers for the forecast period, 2016-2020. This market analysis, under the plastics, polymers, and elastomers discusses the major drivers and key emerging trends that will influence the growth of the global fluoropolymer market during the forecast period. Some of the top vendors listed in this industry analysis include 3M, Asahi Glass, Chemours, Daikin Industries, and Solvay.
In terms of geographical analysis, APAC will account for the largest share of the global market and is expected to surpass around 310 kilotons in sales. China, India, and Japan will emerge as the key revenue-generators.
“The penetration of low volume fluoropolymers such as PVDF and FEP is on the rise in the global market for fluoropolymers. Their rising popularity is driven by their increased applications in semiconductor manufacturing and the wire and cable insulation. Piezoelectric property of PVDF is helpful in the production of tactile sensor arrays, inexpensive strain gauges, and audio transducers. FEP is used in manufacturing different types of wiring, high-quality composite parts, films, and coatings that are exposed to detergents, plastic labware, and tubing products,” says Brijesh Kumar Choubey, a lead analyst at Technavio for plastics, polymers, and elastomers.
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The new industry research report from Technavio analyzes some of the key drivers and trends responsible for the growth of this market and its sub-segments.
Rapid growth and expansion in APAC
APAC is the global leader in the production and consumption of fluoropolymer products. The region is the largest market for PTFE, the largest fluoropolymer product type, accounting for around 40% of the global market share in terms of revenue. Furthermore, the availability of raw materials such as fluorspar, ethylene, and fluorocarbon at lower prices and availability of skilled labor, land, and industrial equipment has made the region a target destination for manufacturing fluoropolymers. China, India, Japan, and South Korea are the leading manufacturers and consumers of fluoropolymers in the region. The demand for fluoropolymers in other developing countries including Indonesia, Thailand, and Vietnam is also on the rise due to the development of end-user industries in these countries.
Superior properties of fluoropolymers
Fluoropolymers possess superior and unique qualities compared to other polymers such as polyvinyl chloride, polystyrene, polypropylene, and polyethylene. Fluoropolymers exhibit properties such as non-adhesiveness, low friction, non-stick nature, resistance to chemicals, heat, shock, and moisture, high dielectric nature, chemical inertness, and barrier properties. Their dielectric property makes them ideal for use in electrical insulation, miniaturization of circuit boards, and electrical and electronics applications. The low friction and non-stick properties of fluorocarbons find application in high capacity automotive and aircraft bearings and seals, and coatings of household kitchenware and bakeware. Such properties make them suitable for use in construction, chemical processing, aerospace, equipment manufacturing, industrial processing, automotive, pharmaceutical, and energy segments.
Growth of electronics and electricals segment
Fluoropolymers are widely used in cable coatings due to their high electrical resistance and dielectric properties in the electricals and electronics industry. Fluoropolymers are used for producing printed circuit boards, electrical appliances, wires, and cables. These polymers insulate wires and cables from high temperatures, moisture, and chemicals. PVDF is the most widely used fluoropolymer for manufacturing electronic equipment. PFA is used in semiconductor manufacturing for transporting high purity fluids. FEP coatings are used for insulating wires and cables insulation. The rapid growth in the electronics industry during the forecast period is anticipated to propel the demand for fluoropolymers, especially in countries such as China, Hong Kong, the US, South Korea, Taiwan, and Germany.
Some of the other prominent vendors identified in this report are Arkema, BASF, Fluorotherm Polymers, Gujarat Fluorochemicals, HaloPolymer, Honeywell, Kureha, Parker Hannifin, Saint-Gobain, SABIC, Shandong Dongyue, Shanghai 3F New Materials, Whitford, Zeus, and Zhejiang Juhua.
This research report includes an in-depth analysis, market shares, and sizes of the sub-segments and geography. It provides a comprehensive analysis of the key companies, including their market shares, business overview, and key financials. The market study also offers a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global Fluoropolymers Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Fluorochemicals Market 2016-2020
- Global Recycled Plastics Market 2016-2020
- Plastic and Rubber Manufacturing Market in Bulgaria 2016-2020
- Global Smart Polymers Market 2016-2020
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