Product ID: SQMIG15E2443
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 Insights
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).
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.
Global Fluoropolymers Market Report Snapshots
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