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 2024-2031

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

Global Fluoropolymers Market News

  • 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.
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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

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