Global Fluoropolymers Market is Estimated to Reach $11 Billion by 2025, Says Accurize Market Research
Global fluoropolymers market report published by Accurize Market Research forecast that the global market is expected to reach $11 billion by 2025; growing at a CAGR of 6.7% from 2017 to 2025. By geography, Asia Pacific and North America are expected to grow at a CAGR of XX% and XX%, respectively, during the forecast period.
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Upsurge in demand from numerous end-use industries.across the globe to drive the growth of the market
Upsurge in demand from numerous end-use industries such as automotive, electronics & electrical, medical, industrial & chemical processing, and houseware, among others.fuels the demand for the global fluoropolymers market. Moreover, amended guidelines for the use of fluoropolymers by the regional environmental organizations, and enhanced performance of HPFs also boost the growth of the market.
MarketSegmentation
The global fluoropolymers market has been bifurcated on the basis of type, application, and geography. The segmentation by type includes polyvinylidene fluoride (PVDF), fluoroelastomers, polytetrafluoroethylene (PTFE), fluorinated ethylene propylene (FEP), and other fluoropolymers. By application, the market is segmented into automotive & transportation, building & construction, electrical & electronics, industrial processing, and other applications.
By geography the market is segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW). North America is further bifurcated in U.S., Canada, and Mexico whereas Europe consists of UK, Germany, France, and Rest of Europe. Asia-Pacific is segmented into India, China, and Rest of Asia-Pacific while RoW is bifurcated into South America, Middle East, and Africa.
“Polytetrafluoroethylene (PTFE) materials accounted for the largest market share in the type segment", says Accurize
By type, polytetrafluoroethylene (PTFE) accounted for the majority of the market share accounting for about half of the total market share. The high growth is witnessed due to is extensive usage in chemical processing and electrical & electronics industry. Moreover, fluorinated ethylene propylene (FEP) is the fastest growing market with respect to CAGR.
Electrical & electronics dominated the application segment in the year 2017, with leading market share; accounting for approximately one fourth of the total market share. The high growth is seen, owing to increasing application of fluoropolymers in jacketing, semiconductor fabrication and lithium-ion batteries, and cable and wire insulation.
“Asia-Pacificdominated the global market with the highest market share over the forecast period", says Accurize
In 2017, Asia-Pacific generated the highest revenue accounting for 40% of the total market share, and is also expected to grow with fastest CAGR throughout the forecast period i.e. 2017 – 2025. Automobile, construction, and electronic industry has grown significantly in APAC region, which in turn is generating the demand for fluoropolymers and offering growth opportunities for fluoropolymers manufacturer.
Top players in the market
The key market players include Solvay, Shanghai 3F New Materials Co. Ltd., Kureha Corporation, Zhejiang Juhua Co. Ltd., are Honeywell International Inc., Asahi Glass, Daikin Industries, 3M, Dyneon GmbH, and Fuxin Heng Tong Fluorine Chemicals Co. Ltd., among others.
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