According to a market report, published by Sheer Analytics and Insights, the total fluoropolymers market was valued at $8.9 billion in 2021 and it is expected to reach $18.5 billion at a CAGR of 6.8% through the forecast period. The demand for fluoropolymers is increasing every year. As these compounds are used in firefighting foams and textiles industries; therefore, these factors are expected to drive the market during the forecast period. These products are largely used because they are non-toxic and they do not bio-accumulate in any kind of animal. Fluorotelomer alcohols were the largest consumed product segment for the last nine years and they accounted for huge global consumption. Thus, the fluorotelomer segment is expected to hold its dominating position through the upcoming years. Moreover, textiles, firefighting foams, and food packaging are the major application segments that are expected to witness the fastest growth in the coming years. Fluoropolymers are widely used in textiles to increase stain resistance caused by dust and other chemicals. Telomers have the potential to provide surface protection to textile products such as gowns, and surgical drapes and they also protect healthcare workers and patients from fluid-based pathogens.
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Asia-Pacific is leading the fluoropolymers market across the globe. Textile industries are adopting these products in several countries such as India, China, Bangladesh, and South Korea, which is further expected to drive the market during the forecast period. Filled fluoropolymers are widely used in industries of air compressor, machine tools, bridge bearing, automotive, and aerospace, among others. Furthermore, it is also used in the pharmaceutical industry as well as other manufacturing industries. Moreover, fluoropolymers assure safety reliability, and performance in various technologies and everyday products that are critical to human health, safety, and the environment. Industrial processing remains one of the largest end-use industries and it is expected to drive the market growth of fluoropolymer during the forecast period.
As fluoropolymers have unique capabilities; therefore, these are appropriate for use in a huge variety of applications such as anti-graffiti coverings, composite part mold release, pharmaceutical cap liners, hot melt adhesive, cable insulation, automotive airbag system, anti-corrosive linings, microphone electric membranes, and others. Based on polymer, the market is segmented into PVDF, PFA, ETFE, ECTFE, FEP, PVF, THV, FEP, PCTFE, and PTFE. The PCTFE segment will be dominating the market throughout the forecast period. However, among all the regions, Asia-Pacific is expected to dominate the market as it did in past few years due to growth in end-use industries. Additionally, the North American region has driven the market due to high energy consumption across all the states. This can be attributed to the wide usage of end-use industries in oil and gas projects.
According to the study, key players dominating the fluoropolymers market are AGC Inc. Company (Japan), Mitsubishi Chemicals Company (Japan), Arkema Chemicals Company (France), DuPont Chemicals Company (U.S), Daikin Manufacturing Company (Japan), 3M Company (U.S), Honeywell International Company (U.S), The Chemours Company (U.S), SABIC Chemical Manufacturing Company (Saudi Arabia), Dongyue Chemicals Company (China), Halopolymer Company (Russia), among others.
The Global Fluoropolymers Market Has Been Segmented Into:
The Global Fluoropolymers Market – By Product Type:
- PTFE
- FEP
- PVDF
- Fluoroelastomer
- PFA
- ETFE
- And Others
The Global Fluoropolymers Market – By Application:
- Film
- Tube
- Sheet
- Membrane
- Pipe
- Sealant
- Roofing
- Additives
- And Others
The Global Fluoropolymers Market – By End-Use Industry:
- Transportation Equipment
- Electrical and Electronics
- Construction
- Industrial Equipment
- And Others
The Global Fluoropolymers Market – By Regions:
North America
- U.S.
- Canada
- Mexico
Europe
- Germany
- France
- Italy
- U.K.
- Russia
- Rest of Europe Countries
Asia-Pacific
- India
- China
- Japan
- South Korea
- North Korea
- Rest of Asian Countries
Latin America, Middle East & Africa (LAMEA)
- Brazil
- Saudi Arabia
- Rest of LAMEA
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