Fluoropolymer Market

2021 Analysis and Review: Fluoropolymer Market by Product Type – PTFE, PVDF, PVF, FEP, PCTFE, and PFA for 2021 - 2031

About the Report

The global fluoropolymer market is anticipated to witness significant growth during the assessment period, starting from 2021 to 2031. Fluoropolymer plays a crucial role in several end-use industries including automotive, industrial processing & appliances, healthcare, electrical & electronics, construction and others. Industrial processing & application and electrical & electronics are driving the market growth.

In the latest edition of the study, ESOMAR-certified market research and consulting firm Future Market Insights (FMI) offers insights about key factors fuelling the demand for Fluoropolymer. The report tracks the global sales of Fluoropolymer in 20+ high-growth markets, along with analyzing the impact COVID-19 has had on the rubber, plastics, automotive and construction in general, and Fluoropolymer in particular.

How the Historical and Future Outlook for Fluoropolymer Market will Match Up?

Fluoropolymer consumption is projected to grow by 1.7X during the forecast period. End-use segments are growing at a considerable rate since last few years, which is expected to experience significant growth in the near future.

In terms of regional classification of the market, East Asia and Europe are estimated to dominate at a global level and are expected to continue their dominance in the long run. The increasing consumption of fluoropolymer in the regions owing to rapidly increasing industrial infrastructure and favorable government initiatives will aid the overall expansion. Furthermore, increasing investments by regional governments for industrial development is expected to be one of the key driving factor for the global fluoropolymer market over the coming years.

Leading manufacturers are expanding their production capacities to satisfy the demand created by end users. Leading manufacturers of fluoropolymer are strategically collaborating with end users especially industrial processing application for ensure long-term supply. According to FMI’s analysis, fluoropolymer sales to grow at 5.3% % CAGR between 2021 and 2031.

Fluoropolymer are used in pump, impellers, coating for heat exchangers, tanks, reaction vessels, autoclaves, container, flue duct expansion joints, diaphragms and among others for various end use application owing to its excellent mechanical properties, chemical resistance properties it preference over other polymers gain traction in the market.

The ongoing crisis on account of COVID-19 outbreak has impacted the global economy and industrial sector to a significant extent due to the disruption in the supply chain and reduce demand from the consumers. The same case has remain true for the case of Fluoropolymer, wherein reduce demand from many end use industries like automotive, has impacted the growth rate of the global Fluoropolymer market to a certain extent in the year 2020.

However, with initiatives taken by regional governments to revive the economic growth and to improve the performance of the industrial sector, will have a positive effect on the fluoropolymer sales prospects.

Why is R&D Key to Consolidation in the Fluoropolymer Market?

Investment in research and development (R&D) for the launch of innovative products plays a vital role in the market growth. Key players in fluoropolymer market invest around 3.5-5% of the total revenue to introduce innovative products for the end-use applications. Thet to cater the growing demand from the end use application industries. Furthermore, globally, key players are focusing on to increase the production capacities to meet global demand by consuming less energy, emitting less carbon and producing efficient product.

Key Players Expanding Supply Chain and Distribution Network

Across the globe, key manufacturers, distributors, and the entire polymer manufacturing economy has been affected by the unprecedented outbreak of COVID-19 and economic crisis that followed. It had disrupted the overall supply chain network and also reduced overall demand for the product. Some of the key players have been seriously disrupted due to extension in their upcoming projects.

Furthermore, in order to recover from this crisis, key market players are pursuing various strategies to improve supply chain robustness and resilience. These include inventory management optimization and the adoption of e-commerce, especially for goods with high demand.

East Asia, especially China is investing significantly in industrial infrastructure to counteract the economic downturn, including high logistics and transportation facilities throughout the country in order to expand its manufacturing capabilities across the globe. Furthermore, these ongoing industrial developments seems multi sourced supply chain, a necessity for most prominent market participants.

Fluoropolymer market is expected to expand in the coming years owing to increasing investment in supply chain networks to ensure seamless manufacturing and distribution.

How Will Regulations Impact the Market of Fluoropolymer?

Stringent regulations imposed on manufacturing chemicals and on end uses of fluoropolymer by various regulatory bodies are expected to hamper market growth. Perfluorooctanoic acid (PFOA), which is used as a raw material in fluoropolymer production, is deemed as carcinogenic chemical by United States Environmental Protection Agency (USEPA). Application in a wide range of PFOA in end use applications such as in household products which includes non-stick cookware & utensils, furniture sprays and among others is a key source of PFOA contamination which is anticipated to hamper market growth.

Country-wise Insights

How large is the Opportunity in China?

China holds more than half of the market volume and value share in East Asia. It is expected to retain its dominance in the regional market through the forecast period. Traditionally, the European Union and the U.S. led the chemical industry from the forefront. However, the great recession of 2008 changed the dynamics within the industry, causing the tide to shift in favor of developing economies such as China.

China’s chemical sector continues to surpass that of several developed countries. As per a Xinhuanet, the chemical industry in China registered a steady expansion despite policy changes implemented over the last few years. This trend is expected to continue, creating a conducive environment for the overall expansion of the fluoropolymer market in China.

What are the Market Projections for the U.S?

Globally, North America especially, the U.S. holds a significant share in the market, accounting for more than fourth-fifth of market volume share in North America. Rapidly growing industrial processing application in the U.S. is propelling the demand for fluoropolymer in the country. Price of the fluoropolymer is significantly moderate in the U.S. as compared to the Europe market owing to the easy availability raw materials and skilled labors.

Future Market Insights has projected that the U.S. fluoropolymer market to create incremental $ opportunity of US$ 934.4 Mn in the coming assessment period

Why does Germany lead the Europe market?

In Europe, Germany holds around 1/4th of the total share, in terms of volume and value.

However, owing to the effect of the COVID -19 pandemic, the market scenario is expected to be negatively impacted in the country. But, due to notable developments and some market opportunities in end use industries are expected to help the region to recover from the pandemic crisis in the coming quarters.

Among the end use applications of fluoropolymer, the automotive segment is estimated to around twenty two percent of market share in terms of volume and value. The segment is expected to witness a faster growth rate as compare to its counterparts in this country.  

How is ASEAN powering the South Asia region demand?

ASEAN countries such as Indonesia, Malaysia, Philippines, Singapore and Thailand are anticipated to account for more than 40% of the market share in the overall South Asia Pacific market. This can be attributed to increasing popularity of fluoropolymer in the ASEAN countries.

In the ASEAN countries, prominent manufacturers of industrial processing application, are estimated to contribute to the growth of the fluoropolymer market. On the basis of incremental $ opportunity, ASEAN countries are expected to contribute US$ 422.7 Mn towards overall market.

What are the Market Projections in GCC Countries?

Rapid industrialization and government initiatives towards the industrial infrastructure development in GCC countries are expected to increase fluoropolymer demand in the coming years.

GCC countries are expected to witness increasing focus on industrialization, creating prospects for growth of the fluoropolymer market. GCC countries such as KSA, UAE, and Oman are expected to dominate the market, owing to the relatively high growth in the region’s end-use industries as compared to those in African countries. GCC countries are estimated to remain a relatively attractive as market players shift focus from mature markets to more promising ones.

Category-wise Insights

Which product type is expected to be in high demand?

Polytetrafluoroethylene (PTFE) fluoropolymer segment is estimated to hold around fifty percent of the market share. Polytetrafluoroethylene (PTFE) has excellent electrical properties such as low dielectric constant and high insulation resistance and it also shows high thermal stability.

Who is the leading End User of Fluoropolymer?

The automotive industry is anticipated to hold a significant share in the global fluoropolymer market. Fluoropolymer is used in bearing separators, gaskets, power steering and many other parts of automotive due to its excellent mechanical properties and chemical and thermal resistance properties.

As per the report, by the end of 2031, the segment is projected to hold more than one fifth of market value share. Owing to increasing demand from the automotive sector, Fluoropolymer are expected to be benefited in the coming years.

Opportunities in Fluoropolymer Market:

Some of the key manufacturers are expected to switch to more sustainable production techniques for the manufacturing of Fluoropolymer. Sustainable developments and innovations are estimated to remain the key factors for promoting competitiveness in the coming decade.

The market of Fluoropolymer is expected to be driven by the increasing end user preference for the lightweight, aesthetic, and other features of the material.

Current trend of the development of environment friendly biopolymers products is expected to remain a key factor enabling growth. The export potential for some of these products is a strong driver responsible for increasing cost-effectiveness and making the products cheaper for consumption.

With the growing investment in research and development, the advancement of technology is expected to change and lead to the adoption of new cost-effective methods for the mass production of polymer composites.

New players who are aiming at entering into the polymers market especially in the emerging economies have an excellent opportunity to cater to the increasing demand for fluoropolymer from various end-use industries. India, China, ASEAN, Brazil and many others are expected to remain top choice among emerging players to set up their production base, due to the favorable government norms and regulations, cheap labor, easy availability of raw materials and ease of transportation to end users.

The demand for conversion of composite waste from landfills for the production of recycled products, which can be utilized by various end-use industries is expected to create significant opportunities for emerging fluoropolymer players.

Competitive Landscape

Introduction of new and innovative products, solutions and technologies for end-use industries, are expected to remain key focus of market players as they aim to gain competitive advantage. Tier-I companies are planning to venture into collaboration and acquisitions of accompanying businesses to further increase market presence. Companies operating in the market have been focusing on strategic tie-ups and product development to gain competitive advantage. Besides this, capacity expansion have been attracting ample resources of competitors.

For instance, in 2019, Dongyue Polymer announced its plans of launching a 20,000t fluoropolymer project to be located in Huantai County, Zibo City.

Some of the leading companies operating in the market are:

*The list is not exhaustive, and only for representational purposes. Full competitive intelligence with SWOT analysis available in the report.

Scope of the Report

Attribute

Details

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

USD Million for value and Kilo Tons for Volume

Key Regions Covered

North America, Latin America, Europe, East Asia, South Asia & Pacific, Middle East & Africa

Key Countries Covered

US, Canada,  Brazil, Mexico, Germany, U.K., France, Italy, Spain, Benelux, Russia, China, Japan, South Korea, India, ASEAN,  GCC Countries, Turkey, North Africa, South Africa

Key Segments Covered

By Product Type, By End Use

Key Companies Profiled

  • Mitsubishi Chemical Advanced Materials
  • AGC Chemicals Americas, Inc.
  • The Chemour Company
  • Honeywell International Inc.
  • Huntsman Corporation
  • Daikin Industries Limited
  • Dongyue Group Ltd.
  • Kureha Corporation
  • Poly Fluoro Ltd.
  • Amco Polymers
  • Solvay SA
  • Saint-Gobain Performance Plastics

Report Coverage

Market Forecast, brand share analysis, competition intelligence, DROT analysis, Market Dynamics and Challenges, Strategic Growth Initiatives

Customization & Pricing

Available upon Request

Key Questions Answered in the Report

  • Which is the most lucrative market for Fluoropolymer?

    Globally, East Asia is estimated to dominate the Fluoropolymer market over the assessment period and is expected to continue its dominance in the near future owing to increasing industrial development in the region.

  • Which is the top-selling type of Fluoropolymer?

    PTFE is expected to remain the top-selling product type in the global Fluoropolymer market.

  • Which end-use industry is exhibiting high demand for Fluoropolymer?

    Industrial processing & application are expected to exhibit increasing demand for use in pump impellers, heat exchangers and others.

  • Which are some of the leading companies providing Fluoropolymer?

    Some of the prominent manufacturers of Fluoropolymer are Solvay S.a, The Chemours Company, Huntsman Corporation, Mitsubishi Chemicals Advanced Materials, Honeywell International Inc, Dongyue Group Ltd, Daikin Industries Ltd, Polyn Fluoro Ltd, Amco Polymers, Saint Gobain Performance Plstics, and others.

Enquiry before Buying

  • Is this research conducted by Future Market Insights?

    Yes, the research has been conducted by expert analysts of Future Market Insights through a combination of primary research and secondary research. To know more about how the research was conducted, you can speak to research analyst

  • What research methodology is followed by FMI?

    FMI follows a methodology that encompasses demand side assessment of the market, and triangulates the same through supply side analysis. This methodology is based on use of standard market structure, methods and definitions. Request detailed methodology

  • Who are the respondents for primary research?

    FMI speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, industry experts. For a full list of primary respondents, please reach out to us.

  • What are the sources of secondary research?

    FMI conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.

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Fluoropolymer Market by category

Product Type

  • PolytetraFluoroethylene (PTFE)
  • Polyvinylidene fluoride (PVDF)
  • Polyvinyl Fluoride  (PVF)
  • Fluorinated Ethylene Propylene (FEP)
  • Polychlorotrifluoroethylene (PCTFE)
  • Perfluoroalkoxy Polymer (PFA)
  • Others

End Use

  • Automotive
  • Industrial Processing & Application
  • Healthcare
  • Electrical & Electronics
  • Construction
  • Others

Region

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia Pacific
  • Middle East and Africa

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