The global fluoropolymers market size reached US$ 8.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 10.9 Billion by 2028, exhibiting a growth rate (CAGR) of 4.3% during 2023-2028.
Fluoropolymers are lightweight and durable plastic resins with a strong carbon-fluoride bond. They are chemically inert and have broad temperature ranges, low friction, and excellent dielectric, wear, and thermal insulation properties. As a result, they are used in industries requiring thermal stability, cryogenic properties, chemical flame resistance, high volume and surface resistivity, and low coefficient friction, surface energy, and dielectric constant. Presently, they are available in several forms, including granulate, films, paste, dispersion, and melt-processable, which can resist heat, water, and salt and perform well in harsh environments.
Fluoropolymers Market Trends:
The market growth of fluoropolymers can be attributed to their wide applications in different industry verticals across the globe. For instance, they are used in the electronics industry as durable, low maintenance, and economical alternatives to exotic metals. Furthermore, they function as insulation materials in manufacturing flexible printed circuits and ultrapure components of semiconductors. They are also utilized for making fabrics, non-stick coatings for cookware, and fiberglass composites in construction work on account of their flame retardancy, thermal stability, weatherability, and friction properties. Apart from this, boosting sales of vehicles across the globe are increasing the application of fluoropolymers in the automotive industry for O-rings, gaskets, shaft seals, valve stem seals, fuel hoses linings, and power steering. Moreover, they are gaining traction in the chemical processing industry for coatings heat exchangers, pumps, diaphragms, impellers, tanks, reaction vessels, autoclaves, containers, flue duct expansion joints, and heavy-wall solid pipes. Furthermore, due to the rising prevalence of chronic medical conditions, fluoropolymers are employed in the healthcare industry for manufacturing cardiovascular grafts, ligament replacement, heart patches, and other medical devices around the world.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global fluoropolymers market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product type, application and end use industry.
Breakup by Product Type:
Breakup by Application:
- Films and Sheets
- Tubes and Pipes
Breakup by End Use Industry:
- Transportation Equipment
- Electrical and Electronics
- Industrial Equipment
Breakup by Region:
- North America
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being 3M Company, AGC Inc., Arkema S.A, Compagnie de Saint-Gobain S.A, Daikin Industries Ltd., Dongyue Group, DuPont de Nemours Inc., Honeywell International Inc., Mitsubishi Chemical Corporation, Saudi Basic Industries Corporation, Shin-Etsu Chemical Co. Ltd, Solvay S.A. and The Chemours Company.
|Base Year of the Analysis
||Product Type, Application, End Use Industry, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||3M Company, AGC Inc., Arkema S.A, Compagnie de Saint-Gobain S.A, Daikin Industries Ltd., Dongyue Group, DuPont de Nemours Inc., Honeywell International Inc., Mitsubishi Chemical Corporation, Saudi Basic Industries Corporation, Shin-Etsu Chemical Co. Ltd, Solvay S.A. and The Chemours Company
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Key Questions Answered in This Report:
- How has the global fluoropolymers market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global fluoropolymers market?
- What are the key regional markets?
- What is the breakup of the market based on the product type?
- What is the breakup of the market based on the application?
- What is the breakup of the market based on the end use industry?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global fluoropolymers market and who are the key players?
- What is the degree of competition in the industry?