As per the latest report by IMARC Group, titled “Fluoropolymers Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global fluoropolymers market reached a value of US$ 7.8 Billion in 2021. Fluoropolymers refer to a group of plastic resins that contain multiple strong carbon-fluorine bonds. They are strong, durable, lightweight, non-toxic, and chemically inert. They also have excellent resistance to electricity, high temperature, and chemicals. They are available in various types and forms, such as films, paste, granulate, dispersions, and melt-processable. In recent years, fluoropolymers have gained traction across numerous industry verticals since they have broad temperature ranges, low friction and thermal stability.
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Global Fluoropolymers Market Trends:
The emerging applications of fluoropolymers across various industries represent the primary factor driving the global market. For instance, they are used for manufacturing semiconductors used in electrical appliances. Furthermore, fluoropolymer resin coatings are utilized for construction products, household electronic appliances, and modern equipment due to their excellent corrosion resistance, weather stability and thermal properties. Apart from this, there has been a rise in product adoption for manufacturing medical devices, such as heart patches, cardiovascular grafts, and ligament replacement. Besides this, with stringent government regulations, fluoropolymers are widely utilized for automobile fuel and engine systems to reduce emissions and meet the unique design requirements. This, in confluence with the increasing automobile production, has accelerated the product demand. Other factors, including the escalating demand for consumer electronics, growing investments in infrastructure development, and increasing industrial applications, are also providing a positive market outlook. On account of these factors, IMARC Group expects the market to grow at a CAGR of 5.26% during 2022-2027.
- Based on the product type, the market has been segregated into PTFE, FEP, PVDF, fluoroelastomer, PVF, PFA, ETFE, and others.
- The market has been classified based on the application into films and sheets, tubes and pipes, membrane, sealant, roofing, additives, and others.
- Based on the end use industry, the market has been divided into transportation equipment, electrical and electronics, construction, industrial equipment, and others.
- Region-wise, the market has been segmented into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has also been analyzed, with some of the key players being 3M Company, AGC Inc., Arkema S.A, Compagnie de Saint-Gobain S.A., Daikin Industries Ltd., Dongyue Group Ltd., 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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