Global fluoropolymer market size is expected to reach USD 11.11
billion by 2022, according to a new report by Grand View Research, Inc. High
tensile strength and excellent insulation properties have driven fluoropolymer
penetration in electronics, automotive and construction applications. Positive
outlook on these end-use industries is expected to be one of the primary growth
factors over the forecast period.
Increasing government spending on infrastructure
in China, India and the Middle East is expected to drive architectural coatings
demand. Fluoropolymer coatings exhibit protection against corrosion &
chemicals and high temperature tolerance, which makes them useful for
architectural applications. In addition, these coatings are used in automobiles
for protection against scratches and abrasions. DuPont (Chemours) manufactures
and markets fluoropolymer coating under the brand name, Teflon.
In terms of application, industrial applications
dominated the global market, accounting for over 30% of volume share in 2014.
It is used in a wide range of applications including gears, sliding plates and
bearings, which require low friction. Expansion of manufacturing industry in
India, China, Mexico, Brazil and Russia is expected to drive demand for PTFE as
an additional lubricant.
View
summary of this report @ http://www.grandviewresearch.com/industry-analysis/fluoropolymers-market
Further key findings from the study
suggest:
·
Global fluoropolymer market demand was 720.8
kilo tons in 2014 and is expected to reach 1,600.4 kilo tons by 2022, growing
at a CAGR of 10.3% from 2015 to 2022.
·
PVDF is expected to witness substantial gains at
a CAGR of over 14% from 2015 to 2022. It acts as a ferroelectric material
exhibiting piezoelectric and pyroelectric properties. In addition, flexibility,
low weight & thermal conductivity and high resistance to chemical corrosion
& heat have resulted in its use for manufacturing electric wires.
·
Growing demand for electric wires in appliances
and equipment is expected to drive PVDF demand over the forecast period. In
July 2014, Kureha Corporation commenced production of PVDF at its manufacturing
unit, Changshu, China. The plant has an annual capacity of 5,000 tons.
·
North America market accounted for over 40% of
global volume share in 2014. Large scale electronic and automobile
manufacturing coupled with housing sector growth in the U.S. has resulted in
high demand for the product. This trend is expected to continue over the
forecast period. Moreover, expanding coating industry along with the
introduction of new coating products and technologies is expected to stimulate
industry growth.
·
Asia Pacific is expected to witness significant
growth at a CAGR of 10.9% from 2015 to 2022 owing to demand for fluoropolymer
in a wide range of applications including coatings and electronics.
Technological advancement in the field of electronics, particularly in China,
Taiwan and South Korea, has led to an increasing utilization of these materials
in providing high thermal stability and superior tensile strength.
·
Chemours, Daikin, 3M, Solvay and Dongyue Group
jointly accounted for over 70% of the global fluoropolymer market share in
2014. Strategic partnership between manufacturers and buyers, coupled with
product innovation is expected to be a critical strategy for gaining
competitive advantage.
Browse All Reports of
this category @ http://www.grandviewresearch.com/industry/specialty-bio-based-and-water-soluble-polymers
Grand View Research has segmented the global fluoropolymer market on the basis of product, application and region:
Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2022)
·
PTFE
·
PVDF
·
FEP
·
Fluoroelastomers
·
Others
Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 -
2022)
·
Automotive
·
Electrical & Electronics
·
Construction
·
Industrial
·
Others
Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 -
2022)
·
North America
·
U.S.
·
Europe
·
Germany
·
Latin America
·
Brazil
·
Asia PacificMEA
·
China
·
MEA
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