Fluoropolymers Market Size Analysis
According to a recent survey conducted by ChemView Consulting, the Global Fluoropolymers Market grew at a CAGR of 5.4% between 2017-2021 and is estimated to be US$ 8,021.3Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 6.1% and is expected to reach a valuation of US$ 14,501.0Mn by 2032 end.
The assessment period is expected to increase the worldwide fluoropolymer market significantly. Numerous end-use sectors, such as the automotive, industrial processes & appliances, healthcare, electrical & electronics, construction, and others, heavily rely on fluoropolymers. Electrical & electronics, as well as industrial processing & application, are propelling market expansion.
R&D KEY TO CONSOLIDATION IN THE FLUOROPOLYMER MARKET
Research and development (R&D) spending for introducing novel products is essential to the market’s expansion. The major competitors in the fluoropolymer market spend between 3.5 and 5% of their overall sales to launch cutting-edge products for end-user applications.
The increase in demand from end-use application industries needed to be catered to. Additionally, major businesses are improving production capacity globally to meet demand while using less energy, generating less carbon, and creating more efficient products.
CARELESS RELEASE OF PFAS TO ADVERSELY IMPACTS THE ENVIRONMENT
Polyfluoroalkyl chemicals and perfluoroalkyl substances (PFAS) present environmental concerns when emitted or disposed of at the industrial site. An insoluble PTFE may carry a small risk to your health or the environment. PFAS are released during the polymer’s manufacturing, use, and processing processes, including oligomers and monomers.
The diffuse release of PFAS to the environment after using and disposing of some PFAS-containing items may occur due to the different ways PFAS are used in consumer and commercial products. However, these could have a substantial negative influence on the ecosystem. The relative environmental relevance, distribution method, amounts emitted, and are affected by various PFAS sources and products vary. For instance, the air dispersion from the manufacturing of polymers may be moderately impacted by the use of Class B firefighting foam.
INCREASING USE OF LI-ION BATTERIES AND RENEWABLE ENERGY TO PROPEL MARKET GROWTH
Excellent chemicals, abrasion, corrosion resistance, and resistance to severe temperatures are all characteristics that help extend the lifespan of components, including fuel cells, photovoltaics, and batteries. The expanding world population and fast industrialization may influence energy demand. Global energy consumption is predicted to rise by almost 50% by 2040.
Renewable energies, such as solar, wind, and new energy vehicles (NEV), are constantly growing to reduce global warming. As a result, technological developments for power transmission, efficiency, and offers for new business models are blooming. Lithium-ion batteries and other power storage technologies are in high demand.
Market Segments Covered in Report
By Product Type:
By Region and Country:
Which product type is expected to be in high demand?
According to estimates, the fluoropolymer category’s market share of polytetrafluoroethylene (PTFE) is about 50%. Excellent electrical characteristics, including a low dielectric constant, good insulation resistance, and great thermal stability, are displayed by polytetrafluoroethylene (PTFE).
Who is the leading End User of Fluoropolymer?
The worldwide fluoropolymer market is expected to dominate the automotive sector significantly. Due to its superior mechanical characteristics and chemical and thermal resistance capabilities, the fluoropolymer is employed in many automobile components, including bearing separators, gaskets, and power steering.
The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.
As market participants look to acquire a competitive edge, introducing new and innovative goods, solutions, and technologies for end-use industries is anticipated to remain a significant focus. Tier-I corporations intend to collaborate with complementary businesses to boost their market presence further and purchase them.
To gain a competitive edge, businesses in the market have been concentrating on developing new products and forming strategic alliances. Additionally, competitors have been investing a lot of resources in capacity expansion.
The key developments in the Global Fluoropolymers Market:
A list of some of the key suppliers present in the market are:
Report Coverage and Highlights
|Historical data available for||2017-2021|
|Market analysis||USD Million for Value and Tons for Volume, and CAGR from 2022 to 2032|
|Key regions covered||North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa|
|Key countries covered||US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt|
|Key segments covered||By Product Type, Application, End-Use, and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|
Market Size Data
Value Chain Analysis
North America: U.S., Canada
Latin America: Brazil, Mexico, Argentina, Central America, Rest of Latin America
Western Europe: Germany, Italy, France, UK, Spain, Poland, Romania, Rest of Western Europe
Eastern Europe: Russia & Belarus, Balkan Countries, Baltic Countries, Central Asia, Rest of Eastern Europe
Middle East & Africa: KSA, UAE, Turkey, Israel, Northern Africa, South Africa, Rest of Middle East & Africa
East Asia: China, Japan, South Korea
South Asia & Pacific: India, ASEAN, Australia & New Zealand, Rest of South Asia & Pacific
Why Choose CVC Market Research?;
In the forecast period between 2022 and 2032, the market is expected to grow at a CAGR of 6.1%.
Research and development (R&D) spending for the introduction of novel products is essential to the market’s expansion
Major global Fluoropolymers Market players are 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
Careless release of PFAS adversely impacts the environment
Asia Pacific Region is expected to account for the largest market revenue share in the Global Fluoropolymers market.
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