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 2024-2031

Report ID: SQMIG15E2443 | Region: Global | Published Date: February, 2024
Pages: 165 | Tables: 95 | Figures: 76

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.

Global Fluoropolymers Market Report Snapshots

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Fluoropolymers Market size was valued at USD 7.23 billion in 2019 and is poised to grow from USD 7.61 billion in 2023 to USD 12 billion by 2031, growing at a CAGR of 5.2% in the forecast period (2024-2031).

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 Size, Share, Growth Analysis, By Product(Polytetrafluoroethylene (PTFE), Polyvinylidene fluoride (PVDF)), By Application(Films, Additives), By End-User(Industrial Equipment, Construction) - Industry Forecast 2024-2031

Global Fluoropolymers Market Dynamics

Global Fluoropolymers Market Report Snapshots

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