Fluoropolymers Market - Industry Dynamics, Market Size, And Opportunity Forecast To 2027

Global Fluoropolymers Market is estimated to witness a rise in revenue from US$ 7,899.1 Mn in 2021 to US$ 10,196.5 Mn by 2027. The market is registering a CAGR of 4.3% during the forecast period 2022-2027. In terms of volume, the market is expected to reach 4,57,667.8 tons by 2027, registering a CAGR of 3.8% over the forecast period. Fluoropolymers are lightweight and durable plastic resins with a strong carbon-fluoride bond. Fluoropolymers have broad temperature ranges, low friction, chemical resistance, high mechanical power, and excellent dielectric, wear, and thermal insulation properties. The end-user industries of fluoropolymers are transportation equipment, electrical & electronics, industrial equipment, and medical equipment among others. 

The growing impetus of the fluoropolymers market is attributed to factors such as the growing application of fluoropolymers in the automotive industry and rising investments in construction activities and growth of infrastructural development projects. The usage of fluoropolymers such as PVDF, THF, and PCTFE in automobile engines and fuel systems has increased as it provides low-friction surfaces, improves efficiency and longevity, and enables vehicle parts to withstand harsh environments. Furthermore, the growing demand for construction activities coupled with the increasing usage of fluoropolymer coating (such as polyurethane coating) in construction applications has propelled the market growth. Also, fluoropolymer finds extensive application in the construction of infrastructural projects, including highways, buildings, and bridges due to their properties of resistance, durability, safety, and ease of maintenance. However, the higher cost of fluoropolymers than conventional materials increased issues regarding environmental sustainability, and fluctuating prices of PTFE are expected to restraint the growth of the global fluoropolymer market.

Report Summary

The study of the global fluoropolymers market considers various market determinants, industry value chain analysis, and competitor analysis of the market. The report discusses the analysis of the fluoropolymers industry for the period 2017-2027, where the base year is 2021 and the forecast period is 2022-2027. The report provides a detailed analysis of the global fluoropolymers market across 16 Chapters and, 286 pages. The report includes data presentation across 83 tables and 116 statistical figures. 

The report provides PESTLE analysis, which is a tool to examine the external market environment factors that have an impact on the industry. The PESTLE analysis examines the Political, Economic, Social, Technological, Environmental, and Legal factors in the external environment. Thus, sufficiently examining the threats and weaknesses of the industry. The research report also provides a SWOT analysis and Porter’s five forces analysis wherein the bargaining power of buyers and intensity of rivalry is high. 

The subsequent section provides details of the market analysis based on different segments such as type, form, application, end-user industry, and region. The report includes a detailed study of the value chain of the industry. It includes raw material suppliers, fluoropolymer manufacturers, distributors, and end-users. The report also covers extensively the key competitors in the market for fluoropolymers.

Key Takeaways of the Global Fluoropolymers Market Report

• Based on type, the fluoroelastomers segment has the highest share in the Global Fluoropolymers Market in 2021. The growth in the segment is attributed to the increase in demand from automobile manufacturers to design more fuel-efficient vehicles due to the stringent emission norms regarding environmental safety in the automotive industry.
• In terms of form, the powder segment has the fastest CAGR during the forecast period 2022-2027. There is a rise in the application of powder in the manufacturing industry due to their better insulate properties and reduced friction level, which in turn propels the market growth.
• Based on application, the pipe segment has the highest share in the Global Fluoropolymers Market in 2021 as fluoropolymers pipes are frequently used by pharmaceuticals, chemicals, petrochemicals, and almost every business involved in managing extremely corrosive and volatile solvents and acids for their production needs.
• Based on end-user, the medical and pharmaceutical equipment segment has the highest CAGR over the projection period owing to the rise in usage of fluoropolymers in medical devices due to their ability to meet the biocompatibility and physical requirements of the next-generation drugs and devices.
• The Asia Pacific is dominating the Global Fluoropolymers Market in 2021 and is further expected to continue its dominance over the forecast period owing to the positive outlook of the construction and automotive sectors in India, China, and Indonesia.

Impact of COVID-19 

Global Fluoropolymers Market experienced a decline in revenue generation for fluoropolymers due to concentrated investments by government and private companies in the manufacturing sector, which led to cutbacks in industrial businesses as well as the industrial chemical industry. The pandemic further interrupted the demand and supply of industrial processing in the manifold manufacturing industries worldwide due to restrictions on trade and lockdown imposed by government bodies. However, advances in technology and product development are paving the way for the fluoropolymers industry. Furthermore, companies are also preparing for a post-pandemic scenario by making the development, and thus, the fluoropolymer market is gaining significant traction.

Competitive Dashboard

The key players in the global fluoropolymers market are Hubei Everflon Polymer CO. Ltd., Saint-Gobain S.A, Solvay S.A., The Chemours Company, Arkema Group, Daikin Industries Ltd, Ensinger Inc., Honeywell International Inc., and Zeus Industrial Products, Inc. among others. Through extensive research, it is found that big players have adopted various competitive strategies such as mergers & acquisitions to have a grip in the stabilized market scenarios. Furthermore, leading companies are expanding their geographical boundaries by acquiring small brands and domestic companies.

Segmentation Overview of the Global Fluoropolymers Market

The following are the different segments of the Global Fluoropolymers Market:

By Type segment of the Global Fluoropolymers Market is sub-segmented into:

• Ethylene tetrafluoroethylene (ETFE)
• Fluorinated Ethylene-Propylene (FEP)
• Fluoroelastomers
• Perfluoroalkoxy alkanes (PFA)
• Polychlorotrifluoroethylene (PCTFE)
• Polytetrafluoroethylene (PTFE)
• Polyvinyl Formal (PVF)
• Polyvinylidene Fluoride (PVDF)
• Others

By Form segment of the Global Fluoropolymers Market is sub-segmented into:

• Dispersion
• Granular
• Powder

By Application segment of the Global Fluoropolymers Market is sub-segmented into:

• Additives
• Film
• Membrane
• Pipe
• Roofing
• Sheet
• Tube
• Others

By End-user Industry segment of the Global Fluoropolymers Market is sub-segmented into:

• Transportation Equipment
  • Automotive Vehicles
  • Aerospace
  • Others
• Electrical and Electronics
  • Wire and Cable
  • Batteries
  • Others
  • Construction
• Industrial Equipment
  • Chemical and Pharmaceutical Equipment
  • Semiconductor Manufacturing Equipment
  • Other Industrial Process
  • Household
  • Medical Equipment
  • Others

By Region segment of the Global Fluoropolymers Market is sub-segmented into:

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
• Western Europe
  • The UK
  • Germany
  • France
  • Italy
  • Spain
  • Rest of Western Europe
• Eastern Europe
  • Poland
  • Russia
  • Rest of Eastern Europe
• Asia Pacific
  • China
  • India
  • Japan
  • Australia & New Zealand
  • ASEAN
  • Rest of Asia Pacific
• Middle East & Africa (MEA)
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of MEA
• South America
  • Argentina
  • Brazil
  • Rest of South America