Global Fluoropolymers Market

Global Fluoropolymers Market Size, Share, Growth Analysis, By Product(Polytetrafluoroethylene (PTFE), Polyvinylidene fluoride (PVDF)), By Application(Films, Additives), By End-User(Industrial Equipment, Construction) - Industry Forecast 2023-2030


Report ID: SQSG15E2021 | Region: Global | Published Date: November, 2022 | Pages: 165 | Tables: 95 | Figures: 76

Global Fluoropolymers Market Insights

Global Fluoropolymers Market size was valued at USD 7.23 billion in 2021 and is poised to grow from USD 7.61 billion in 2022 to USD 12 billion by 2030, growing at a CAGR of 5.2% in the forecast period (2023-2030).

Growth is anticipated to be driven by increasing demand for the polymer used in the production of semiconductors used in electrical goods like computers and smartphones. In the near future, growth is anticipated to be boosted by the expanding electronics sector, particularly in China, South Korea, and Japan due to rising domestic demand and the existence of R&D centers.

Due to their outstanding tensile strength and great heat resistance, fluoropolymers are widely employed in a variety of applications for sectors such as the automotive, electrical, and chemical processing. Due to the introduction of new products by automakers like GM, Toyota, and Volkswagen, the automotive industry is expanding in the United States, Mexico, China, India, and Indonesia. This is likely to have a positive impact on Fluoropolymers Market growth in the near future.

For car fuel and engine systems, fluoropolymers like PCTFE, PVDF, and THV are used in the automotive industry. Excessive amounts of aggressive chemicals, persistent vibrations, and fuel mixes are found in automobile engine and fuel systems. Quick-connect O-rings, gasoline seals, fuel fill hoses, and seals are a few of the essential parts that make up fuel systems.

These fuel systems must be resistant to fuel, have a long, trouble-free life, be heat resistant, use aggressive lubricants, have low permeation rates, and adhere to strict emission standards. Utilizing fluoropolymers for distinctive design and regulatory requirements, which are anticipated to drive the market, helps automobile part manufacturers avoid some of the issues they confront. Fluoropolymer deployment has several benefits, including low processing temperature, capacity to connect with polymers based on hydrocarbons, and flexibility with regard to optical clarity.

Fluoropolymers improve the characteristics of coatings used on building materials, contemporary industrial machinery, and home appliances. Fluoropolymer resins are the perfect choice for applications that call for a decrease in friction and a strong resistance to solvents, acids, and bases thanks to their unique features. High chemical resistance, great thermal properties, and high weather stability are just a few of the characteristics that the fluoropolymer resin coatings display. Their popularity has grown as a result of the aforementioned qualities, and this trend is anticipated to last during the projected period.

US Fluoropolymers Market is poised to grow at a sustainable CAGR for the next forecast year.

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Global Fluoropolymers Market Segmental Analysis

The global fluoropolymers market is segmented based on product, application, end-user and regions. Based on product, the Fluoropolymers Market is further sub segmented into Polytetrafluoroethylene (PTFE), Polyvinylidene fluoride (PVDF), Fluorinated Ethylene Propylene (FEP), Polyvinyl Fluoride (PVF) and other segments. On the basis of application, the market can be bifurcated into films, additives, coatings and other segments. Based on the end-user, the market is segregated into industrial equipment, construction, electrical & electronics, automotive and other segments. The regional insights of the fluoropolymers market are into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa.

Fluoropolymers Market Analysis by Product

The segment for polytetrafluoroethylene (PTFE) had the highest CAGR during the projection period. Due to its low cost, the polymer is used in non-stick coatings on several types of kitchen cookware, including baking trays, pans, and other items. PTFE has excellent anti-adhesion qualities, low friction, good heat and cold resistance, flexibility, low water absorption, good electrical insulating power in humid, hot situations, and good resistance to UV, weathering, and light.

During the projection period, the fluorinated ethylene propylene (FEP) segment may experience significant market share growth. Demand is anticipated to increase as a result of expanding uses in the aerospace, food processing, and electronics & electrical industries. FEP coatings are non-porous and have high chemical resistance, which makes them ideal for industries that produce food because they are resistant to hot water, fats, steams, and oils. It also has exceptional mechanical, chemical, and thermal qualities and works well as an insulator.

Fluoropolymers Market Analysis by End-User

During the predicted period, industrial equipment may represent a significant portion of sales. It is frequently employed in industrial settings, including heat exchangers, membrane & filtration systems, pharmaceutical processing equipment, and chemical processing. In industrial applications, fluorine-based polymers are primarily utilized to provide corrosion and thermal resistance. Chemical processing equipment, such as small vessels, filter tanks, reactors, flanges pipelines, and valves, is effectively coated for a variety of products. These polymers are a great option for membrane & filtering applications since they have molecular weights with regulated viscosity and high purity levels. The fluid handling equipment and components used in the chemical processing sector are corrosion-resistant.

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Global Fluoropolymers Market Regional Insights

The expansion of the Asia Pacific fluoropolymers market is attributed to rising demand from the construction, electrical, and pharmaceutical industries. The expansion of the regional market will be fueled by the rising demand for polyvinylidene fluoride (PVDF) and fluorinated ethylene propylene (FEP) for the production of wire & cable insulation, coatings, and semiconductor applications. North America is anticipated to have significant expansion as a result of rising demand from the aerospace and electrical & electronics sectors. The market for electronic devices is lucrative, and producers and designers are constantly developing new goods.

During the projection period, Europe is expected to experience significant growth as a result of rising demand from the automotive sector. Europe is the largest private investor in R&D and the top producer of automobiles globally. The Latin American Fluoropolymers Market could increase slowly during the course of the prediction period. The increasing use of FEP and PVDF in wire and cable insulation, semiconductor production, and construction coating applications will propel regional development in the direction of new material and product development.

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Global Fluoropolymers Market Dynamics

Fluoropolymers Market Driver

  • The primary drivers of the fluoropolymers market expansion in the automotive industry are the rise in disposable income, R&D spending for the industry, increasing traffic congestion, and stringent government restrictions regarding the reduction of carbon emissions. For performance, safety, and emission control in the automotive industry, the polymer extends the component's life. Against corrosive fluids and fuels, heat, vibration, compression, and humidity, they offer durable protection. Car parts with polymer coatings have longer lifespans because they experience less corrosion and friction. They are crucial in automobile parts that endure wear and tear, like gears and ball bearings.

Fluoropolymers Market Restraint 

  • Polyfluoroalkyl chemicals and perfluoroalkyl substances (PFAS) present some environmental concern when emitted or disposed of at the industrial site. An insoluble PTFE may carry a small risk to your health or the environment. PFAS are released during the polymer's manufacturing, use, and processing processes, including oligomers and monomers.
  • The diffuse release of PFAS to the environment after use and disposal of some PFAS-containing items may occur as a result of the different ways in which PFAS are used in consumer and commercial products. However, these could have a substantial negative influence on the ecosystem. The relative environmental relevance, method of distribution, amounts emitted, and area affected of various PFAS sources and products vary. For instance, the air dispersion from the manufacturing of polymers may be moderately impacted by the use of Class B firefighting foam.

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Global Fluoropolymers Market Competitive Landscape

Prominent firms are involved in the competitive and fragmented fluoropolymers market share. To increase output, the majority of businesses engage in strategic alliances, capacity expansion, new product development, acquisition, and the formation of new organizations. For instance, the Performance Fluoropolymer Partnership was created by Daikin Industries Ltd., AGC Inc., and Chemours Company LLC (PFP). The use, management, and manufacture of fluoropolymers are all goals of PFP.

Top Players in the Fluoropolymers Market

  • The Chemours Company
  • Daikin Industries, Ltd.
  • Solvay SA
  • Arkema S.A.
  • Saint-Gobain S.A.
  • Gujarat Fluorochemicals Limited
  • 3M COMPANY
  • Asahi Glass Co., Ltd.
  • AGC Inc.
  • Dongyue Group Limited
  • HaloPolymer OJSC
  • Honeywell International Inc.
  • Kureha Corporation
  • Quadrant AG
  • Shin-Etsu Chemical Co., Ltd.
  • Toray Industries, Inc.
  • Zeus Industrial Products, Inc.
  • Mitsui Chemicals, Inc.
  • RTP Company
  • Zhejiang Juhua Co., Ltd.

Fluoropolymers Market Recent Developments

  • In June 2021, a new sustainable Kynar CTO polyvinylidene fluoride grade was introduced by Arkema. These new grades will assert that all of the carbon they contain is renewable and comes from bio-feedstock obtained from crude tall oil.
  • In October 2021, to reduce costs, time, risks, and environmental effect associated with the maintenance of various paint shop equipment, PPG offers its newest Lineguard line of coatings as well as application services for tier suppliers, industrial clients, and automotive OEMs.

Global Fluoropolymers Key Market Trends

  • Research and development (R&D) spending for the introduction of novel products is essential to the fluoropolymers market's expansion. The major competitors in the fluoropolymer market spend between 3.5 and 5% of their total sales to launch cutting-edge products for end-user applications. They do this in order to satisfy the increasing demand from the end-use application industries. Additionally, major businesses are working to improve production capacity globally in order to meet demand while using less energy, generating less carbon, and creating more efficient products.

Global Fluoropolymers Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.

According to our analysis, the global fluoropolymers market is segmented based on product, application, end-user and regions. The segment for polytetrafluoroethylene (PTFE) had the highest CAGR during the projection period. Due to its low cost, the polymer is used in non-stick coatings on several types of kitchen cookware, including baking trays, pans, and other items. During the predicted period, industrial equipment may represent a significant portion of sales. It is frequently employed in industrial settings, including heat exchangers, membrane & filtration systems, pharmaceutical processing equipment, and chemical processing. The expansion of the Asia Pacific fluoropolymers market is attributed to rising demand from the construction, electrical, and pharmaceutical industries.

Report Metric Details
Market size value in 2021 USD 7.23 billion
Market size value in 2030 USD 7.61 billion
Growth Rate 5.2%
Base year 2021
Forecast period 2023-2030
Forecast Unit (Value) USD Billion
Segments covered
  • Product
    • Polytetrafluoroethylene (PTFE), Polyvinylidene fluoride (PVDF), Fluorinated Ethylene Propylene (FEP), Polyvinyl Fluoride (PVF), Others
  • Application
    • Films, Additives, Coatings, Others
  • End-User
    • Industrial Equipment, Construction, Electrical & Electronics, Automotive, Others
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • The Chemours Company
  • Daikin Industries, Ltd.
  • Solvay SA
  • Arkema S.A.
  • Saint-Gobain S.A.
  • Gujarat Fluorochemicals Limited
  • 3M COMPANY
  • Asahi Glass Co., Ltd.
  • AGC Inc.
  • Dongyue Group Limited
  • HaloPolymer OJSC
  • Honeywell International Inc.
  • Kureha Corporation
  • Quadrant AG
  • Shin-Etsu Chemical Co., Ltd.
  • Toray Industries, Inc.
  • Zeus Industrial Products, Inc.
  • Mitsui Chemicals, Inc.
  • RTP Company
  • Zhejiang Juhua Co., Ltd.
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Global Fluoropolymers Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Global Fluoropolymers Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Global Fluoropolymers Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Fluoropolymers Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Fluoropolymers Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Global Fluoropolymers Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQ's

Global Fluoropolymers Market size was valued at USD 7.23 billion in 2021 and is poised to grow from USD 7.61 billion in 2022 to USD 12 billion by 2030, growing at a CAGR of 5.2% in the forecast period (2023-2030).

Prominent firms are involved in the competitive and fragmented fluoropolymers market share. To increase output, the majority of businesses engage in strategic alliances, capacity expansion, new product development, acquisition, and the formation of new organizations. For instance, the Performance Fluoropolymer Partnership was created by Daikin Industries Ltd., AGC Inc., and Chemours Company LLC (PFP). The use, management, and manufacture of fluoropolymers are all goals of PFP. 'The Chemours Company', 'Daikin Industries, Ltd.', 'Solvay SA', 'Arkema S.A.', 'Saint-Gobain S.A.', 'Gujarat Fluorochemicals Limited', '3M COMPANY', 'Asahi Glass Co., Ltd.', 'AGC Inc.', 'Dongyue Group Limited', 'HaloPolymer OJSC', 'Honeywell International Inc.', 'Kureha Corporation', 'Quadrant AG', 'Shin-Etsu Chemical Co., Ltd.', 'Toray Industries, Inc.', 'Zeus Industrial Products, Inc.', 'Mitsui Chemicals, Inc.', 'RTP Company', 'Zhejiang Juhua Co., Ltd.'

The primary drivers of the fluoropolymers market expansion in the automotive industry are the rise in disposable income, R&D spending for the industry, increasing traffic congestion, and stringent government restrictions regarding the reduction of carbon emissions. For performance, safety, and emission control in the automotive industry, the polymer extends the component's life. Against corrosive fluids and fuels, heat, vibration, compression, and humidity, they offer durable protection. Car parts with polymer coatings have longer lifespans because they experience less corrosion and friction. They are crucial in automobile parts that endure wear and tear, like gears and ball bearings.

Research and development (R&D) spending for the introduction of novel products is essential to the fluoropolymers market's expansion. The major competitors in the fluoropolymer market spend between 3.5 and 5% of their total sales to launch cutting-edge products for end-user applications. They do this in order to satisfy the increasing demand from the end-use application industries. Additionally, major businesses are working to improve production capacity globally in order to meet demand while using less energy, generating less carbon, and creating more efficient products.

The expansion of the Asia Pacific fluoropolymers market is attributed to rising demand from the construction, electrical, and pharmaceutical industries. The expansion of the regional market will be fueled by the rising demand for polyvinylidene fluoride (PVDF) and fluorinated ethylene propylene (FEP) for the production of wire & cable insulation, coatings, and semiconductor applications. North America is anticipated to have significant expansion as a result of rising demand from the aerospace and electrical & electronics sectors. The market for electronic devices is lucrative, and producers and designers are constantly developing new goods.

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Global Fluoropolymers Market

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