Fluoropolymer Films Market: Growing Consumption of PTFE in Various Industries is poised to drive the Demand for Fluoropolymer Films: Global Industry Analysis and Opportunity Assessment, 2016–2026
In terms of volume, the global fluoropolymer films market is projected to cross 59,000 Tonnes by the end of 2026, registering a CAGR of 5.3% over the forecast period (2016–2026). In terms of value, the global fluoropolymer films market was pegged at nearly US$ 1,500 Mn at the end of 2016 and is anticipated to increase to nearly US$ 2,600 Mn by 2026 end, exhibiting a CAGR of 6.1% over the forecast period. Asia Pacific Excluding Japan (APEJ) is expected to exhibit promising growth in the global fluoropolymer films market, registering a value CAGR of 6.6% over the forecast period.
Driven by the sales growth of fluoropolymer films across various end-use applications, the APEJ market is expected to witness a sustainable growth rate over the coming years. India and China are likely to provide substantial opportunities in the global fluoropolymer films market through 2026. The importance of fluoropolymer films is anticipated to continue rising in the coming years. The innovative applications of fluoropolymer films in medical devices, such as in the components of dialysis devices, is one of the emerging technologies anticipated to enhance sales.
Further, as fluoropolymer films find various applications in medical devices, manufacturers are developing innovative technologies to further surge the sales. For instance, surgical equipment made from fluoropolymer films are resistant from the sterilization process.
Fluoropolymer films are finding increased application in consumer goods as well. For instance, the increasing demand for cook and bakeware along with the growing population in emerging countries is one of the key factors surging the demand for fluoropolymer films.
Fluoropolymers exhibit superior physical and chemical characteristics. Good non-stick performance, chemical resistance, optical transparency and moisture resistance provide an edge to fluoropolymers over other resins. Fluoropolymers maintain high strength over a wide temperature range and their thermal and electrical properties further facilitate the work performance of end-products. Attributing to these unique properties and capabilities of fluoropolymer films, they are increasingly being used in various diversified and sophisticated industries such as electronic, machine, automobile and semiconductor.
Superior Properties of Fluoropolymers, leading to their Increased Utilization in Various Applications, are expected to drive Revenue Growth of the Global Fluoropolymer Films Market
Increasing demand for fluoropolymer films from various end-use industries, owing to their superior properties, is expected to drive their overall revenue growth across the globe. Fluoropolymer films are also utilized in solar PV modules as front sheets. The record deployment and rapid expansion of solar photovoltaic modules across the globe is anticipated to boost the demand for fluoropolymer films in the coming years. However, factors such as high price and relatively more complex manufacturing process are anticipated to create significant challenges for the global fluoropolymer films market growth.
High Price of Fluoropolymer Films and Relatively Complex Manufacturing Process
Fluoropolymer films are typically produced by cast film extrusion. The process offers significant challenges, and special attention is required right from the designing of the die till the film with desired characteristics is produced. Fluoropolymers, being highly corrosive in nature, require corrosion resistant material to properly handle the melt product during processing. Also, at low shear stress values, the tendency of fluoropolymer films to develop melt fracture increases, which critically affects the surface and optical properties of the films. Moreover, the high prices of these films, as a result of the high raw material and processing costs, are expected to affect their market growth over the coming years.
Market Research Methodology - Perfected through Years of Diligence
A key factor for our unrivaled market research accuracy is our expert- and data-driven research methodologies. We combine an eclectic mix of experience, analytics, machine learning, and data science to develop research methodologies that result in a multi-dimensional, yet realistic analysis of a market.
Reduction in Processing Cost and Development of High-Grade Fluoropolymer Films
The fluoropolymer films market is price competitive. The companies supported by backward integration, i.e. who also manufacture the resin, hold the vantage point in terms of more flexibility in end product prices and discounts. To capitalize on the increasing demand from different end-use industries, companies are focusing on reducing the overall processing cost without compromising on the product quality, which can provide significant growth opportunities for film manufacturers across the globe.
Further, in response to the increasing demand for solar energy, the number of solar cell and module manufacturers has been expanding significantly across the globe. Devising an attractive marketing plan targeting these customers and making long-term contracts with them can also provide significant growth opportunities to the suppliers of fluoropolymer films.
Performance Analysis of Product Type Segments
On the basis of product type, the fluoropolymer films market has been segmented into PTFE (Polytetrafluoroethylene), FEP (Fluorinated Ethylene Propylene), PFA (Perfluoroalkoxy Alkane), PVA (Polyvinyl Fluoride), PVDF (Polyvinylidene Fluoride), ETFE (Ethylene tetrafluoroethylene) and others, which include ECTFE, PCTFE, etc. The PTFE segment is projected to account for a major share of the global fluoropolymer films market throughout the forecast period.
Growth of the PTFE segment is estimated to remain high over the forecast period, accounting for approximately one-third of the total market share in terms of volume. Expanding at a healthy growth rate, the PVF segment is expected to create significant growth opportunities in the coming years.
The PTFE segment, in value terms, is anticipated to expand at a CAGR of 6.7% over the forecast period and reach a market value of about US$ 687.7 Mn by the end of 2026. The demand for PTFE and PVF is expected to remain high across different regions. On the other hand, the PVDF segment is estimated to exhibit a steady growth rate through the forecast period. The ETFE segment, expanding at a CAGR of 5.5%, is expected to represent a 4.2% revenue share in the overall fluoropolymer films market by 2026 end.
Chemical, mechanical engineering, electronics and automotive industries are among the key end users of fluoropolymers films in Europe. Fluoropolymers offer good insulating properties and low attenuation of high frequencies as compared to other insulating materials, which is one of the key factors driving the fluoropolymer films market.
Fluoropolymer Films Market: Analysis of Product Type Segments
PTFE (polytetrafluoroethylene): Expanding at a CAGR of 6.7% over the forecast period, the segment is anticipated to create an incremental $ opportunity of US$ 329.2 Mn by 2026 end.
PVF (polyvinylfluoride): The PVF segment is expected to reach a market value of US$ 754.4 Mn by 2026 end.
PVDF (polyvinylidene fluoride): The PVDF segment is expected to grow at a CAGR of 5.2% between 2016 and 2026.
FEP (fluorinated ethylene-propylene): The FEP segment, expanding at a CAGR of 6.1% between 2016 and 2026, is anticipated to reach a market value of US$ 598.1 Mn by 2026 end.
Others: The others segment (ECTFE, PCTFE, etc.) is projected to create an incremental $ opportunity of US$ 44 Mn during the forecast period.
Leading Market Players dominating the global Fluoropolymer Films Market
Detailed profiles of the providers are also included in the scope of the report to evaluate their long-term and short-term strategies, key offerings and recent developments in the global fluoropolymer films market. Some of the key players reported in this study on the global fluoropolymer films market include The Chemours Company, Arkema Group, Solvay sa, DAIKIN INDUSTRIES Ltd., Asahi Glass Co., Ltd., 3M Company, Saint Gobain S.A., Polyflon Technology Ltd., Dongyue Group Ltd, and Honeywell International Inc. Manufacturers are introducing new applications of fluoropolymer films; however, limited availability of resources, global digitization and climatic changes are some of the key challenges associated with the market growth.
Additional Questions Answered
- What are the key concerns related to fluoropolymer films?
- How is logistics and supply chain management a critical element (as it requires compliance from source to customer)?
- Difference in marketing strategies by leading players in the fluoropolymer films market?
- How are advertisements playing a key role in promoting fluoropolymer films?
- How are companies leveraging social media & digital marketing for the sale of fluoropolymer films?
- Which end-user base should be targetted?
Fluoropolymer Films Market: Segmentation
To understand and assess opportunities in the global fluoropolymer films market, we have divided the report into three sections:
Fluoropolymer Films Market by Product Type
- Others (ECTFE, PCTFE, etc.)
Fluoropolymer Films Market by End Use
- Automotive & Aerospace
- Building & Construction
- Electrical & Electronics
- Industrial & Equipment
Fluoropolymer Films Market by Region
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan (APEJ)
- Middle East & Africa (MEA)