Fluoropolymers Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

The fluoropolymers market is expected to grow from US$ 7 billion in 2022 to US$ 10 billion by 2028, with an estimated CAGR of 5.2% from 2022 to 2028.

Fluoropolymers are widely used in various end-use industries such as healthcare, electrical & electronics, construction, automotive, and aerospace. They have high heat, chemical, and abrasion resistance. They are lighter in weight and possess high dimensional stability than traditional polymers. Thus, they are extensively used for insulating applications in the electrical & electronics, chemicals, and automotive industries. Fluoropolymers exhibit high thermal insulation, making them suitable for producing non-stick cookware and bakeware. Due to the excellent chemical stability of fluoropolymers, they are used as packaging materials for lithium-ion batteries. Fluoropolymers are also used to produce medical implants and catheters. Thus, widespread applications of fluoropolymers across different industries are driving the market.

MARKET DYNAMICS

Polytetrafluoroethylene (PTFE) fluoropolymer is witnessing high demand in various applications such as automotive, industrial equipment, and electrical & electronics. PTFE fluoropolymer enables the effective functioning of industrial machines and minimizes their failure rate. In the construction industry, PTFE fluoropolymer is used for making gaskets, rings, seals, pump interiors, and vessel linings. Also, PTFE fluoropolymer is resistant to chemicals and concentrated acids. Hence, it is widely used in the oil & gas industry. Numerous benefits of PTFE fluoropolymer tubing are driving the market.

MARKET SCOPE

The "Global Fluoropolymers Market Analysis to 2028" is a specialized and in-depth study of the fluoropolymers market with a special focus on the global market trend analysis. The report aims to provide an overview of the fluoropolymers market with detailed market segmentation. It provides key statistics on the status of leading market players and offers major trends and opportunities in the market.

Strategic Insights

MARKET SEGMENTATION

The global fluoropolymers market is bifurcated into type and end user. Based on type, the market is segmented into ethylene tetrafluoroethylene copolymer (ETFE), polytetrafluoroethylene (PTFE), perfluoro alkoxy (PFA), polyvinylidene fluoride (PVDF), fluoroethylene propylene (FEP), and others. In terms of end user, the market is segmented into industrial equipment, automotive, construction, electrical & electronics, medical, and others.

REGIONAL FRAMEWORK

The global fluoropolymers market is segmented into five major regions—North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. The report covers analysis and forecast of 18 countries globally, along with current trends and opportunities prevailing in these regions.

Asia Pacific dominated the fluoropolymers market in 2021. The market growth is majorly attributed to the rising demand for specialty fluoropolymers in the healthcare industry across the region for manufacturing advanced medical devices. Moreover, the presence of well-established industry players such as 3M; Saint-Gobain; Shandong Dongyue Polymer Material Co., Ltd; and Daikin Industries, Ltd. in the region is projected to drive the fluoropolymers market over the forecast period.

Source: The Insight Partners Analysis

The report analyzes the factors, such as drivers, restraints, opportunities, and future trends, that impact the fluoropolymers market. It also provides an exhaustive Porter's five forces analysis, highlighting the factors influencing the market in these regions.

IMPACT OF COVID-19 PANDEMIC

The COVID-19 outbreak adversely affected many industries, including the chemicals & materials industry. The governments of various countries imposed lockdowns, travel bans, and border restrictions to curb the spread of the virus. This halted the production of many companies operating in the chemicals & materials industry, creating supply shortages. Moreover, due to severe supply chain disruptions, raw material sourcing became difficult, creating a significant raw material shortage. The fluoropolymers market also witnessed a similar impact of the COVID-19 pandemic. Many production facilities remained closed under government mandates which hampered the overall production volume of companies operating in the fluoropolymers market. Moreover, as the end-use industries such as construction, automotive, and transportation were adversely affected, there was a slowdown in demand for fluoropolymers, which resulted in a decline in profits of many small-scale, mid-scale, and large-scale companies.

However, because of the COVID-19 pandemic, the healthcare industry witnessed a significant boom. Fluoropolymer tubing is widely used in various medical equipment such as catheters, bio-containment vessels, syringes, and sutures. This factor had a positive impact on the fluoropolymers market growth during 2020. Further, in 2021, the global marketplace witnessed a positive recovery, and governments announced the relaxation of their previously imposed restrictions. Manufacturers were permitted to operate at full capacity, which helped them overcome the demand and supply gap. Fluoropolymer manufacturers focused on increasing their production capabilities to maximize their profits, which is expected to further boost the fluoropolymers market growth over the forecast period.

Fluoropolymers Market Report Analysis

Fluoropolymers Market

• 
  CAGR (2023 - 2031)

  5.20%
• Market Size 2023
  US$ 7.36 Billion
• Market Size 2031
  US$ 11.05 Billion

Report Coverage

• Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope

• Key future trends
• Detailed PEST/Porter’s Five Forces and SWOT analysis

• Industry landscape and competition analysis & recent developments
• Detailed company profiles

• Global and regional market analysis covering key market trends, major players, regulations, and recent market developments

Key Players

• Arkema SA
• Asahi Glass Co Ltd
• Daikin Industries Ltd
• Dongue Group
• Gujrat Fluorochemicals Ltd
• Jiangsu Meilan
• Shanghai Sanaifu
• Solvay SA
• The 3M Company

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

By Type

• Ethylene Tetrafluoroethylene Copolymer

By Polytetrafluoroethylene

• PTFE

By Perfluoro Alkoxy

• PFA

By Polyvinylidene Fluoride

• PVDF

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• Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

MARKET PLAYERS

The report covers key developments in organic and inorganic growth strategies in the fluoropolymers market. Various companies are focusing on organic growth strategies such as product launches, product approvals, patents, and events. Inorganic growth strategies witnessed in the market were acquisitions, partnerships, and collaborations. These activities have paved the way for business expansion and the customer base of market players. Market players are anticipated to have lucrative growth opportunities in the coming years due to the rising demand for fluoropolymers.

The report includes key company profiles operating in the fluoropolymers market, along with their SWOT analysis and market strategies. It also focuses on leading industry players with information, such as company profiles, components and services offered, financial information of the last three years, and key development in the past five years.

Key Companies Operating in Fluoropolymers Market:

• 3M
• AGC Chemicals Americas
• Daikin Industries, Ltd.
• Fluoroseals SpA
• GFL Ltd
• Halopolymer
• Saint-Gobain
• Solvay
• Shandong Dongyue Polymer Material Co., Ltd
• The Chemours Company

The Insight Partner's dedicated research and analysis team consists of experienced professionals with advanced statistical expertise and offers various customization options in the existing study.

Fluoropolymers Market Report Scope