Global Fluoropolymers Market size is projected to be valued $10.5 Billion by 2024; with a CAGR of 6.7% from 2017 to 2025. Fluoropolymer is a fluorocarbon based polymer comprising several strong carbon-fluorine bonds. They find wide applications in automotive, aircraft, semiconductors, IT, and other sectors. They are stable in nature because of the stability of several carbon-fluorine bonds.
The global fluoropolymer market is driven by surge in demand from numerous end-use industries such as automotive, electronics & electrical, medical, industrial & chemical processing, and houseware, among others. Mended guidelines for the use of Fluoropolymers by the regional environment organizations, and enhanced performance of HPFs have also supported the market growth. The fluoropolymers are application specific due to cost which is a major drawback for the growth of the market. Moreover, new investments in developing research facilities for FEP, PTFE, and PVDF, and advancement in technology are expected to create several growth opportunities for the market in the forecast period.
The global Fluoropolymers market is mainly classified 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.
Based on geography Fluoropolymers 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.
The prominent players operating in the market 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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Scope of the Global Fluoropolymers Market