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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.
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
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.
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:
By Form segment of the Global Fluoropolymers Market is sub-segmented into:
By Application segment of the Global Fluoropolymers Market is sub-segmented into:
By End-user Industry segment of the Global Fluoropolymers Market is sub-segmented into:
By Region segment of the Global Fluoropolymers Market is sub-segmented into:
|Market Size Value in 2021||US$ 7,899.1 Mn|
|Expected Revenue in 2027||US$ 10,196.5 Mn|
|Unit||Value (USD Mn)|
|Segments covered||By Type, Form, Application, End-user, and Region|
|Key Companies||Hubei Everflon Polymer CO. Ltd., Saint-Gobain S.A, Solvay S.A., and other prominent players.|
|Customization Scope||Get your customized report as per your preference. Ask for customization|
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.
Fluoropolymers are available in different forms such as dispersion, granulate and powder.
The end user industries of fluoropolymers are transportation equipment, electrical & electronics, industrial equipment, and medical equipment among others.
The Global Fluoropolymers Market was valued at US$ 7,899.1 Mn in 2021.
Global Fluoropolymers Market is estimated to expand at a CAGR of 4.3% during the forecast period 2022-2027.
Factors such as growing application of fluoropolymer in the automotive industry and rising spending on construction activities and infrastructural development projects are driving the Global Fluoropolymers Market.
High cost of fluoropolymers and environmental concerns associated with the use of fluoropolymers is restraining the market growth.
Fluoropolymers are increasingly used in different medical applications such as medical equipment and implantable devices as well as contribute to reducing medical complications, thereby leading to market growth.
Fluoroelastomers holds the highest share in the Global Fluoropolymers Market in 2021.
Pipe segment has the highest share in the Global Fluoropolymers Market in 2021.
Medical and pharmaceutical industry will dominate the fluoropolymers market over the forecast period.
Asia Pacific region holds the highest share of the Global Fluoropolymers Market.
The key players in the Global Fluoropolymers Market are Chemours, Daikin, 3M (Dyneon), Solvay, and Dongyue among others.