Fluoropolymers Market to Reach US$10.64 Billion by 2024, Buoyed by High Demand in Industrial Processing: Transparency Market Research

May 05, 2016, 08:30 ET from Transparency Market Research

ALBANY, New York, May 5, 2016 /PRNewswire/ --

Transparency Market Research has published a new report titled "Fluoropolymers Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024." According to the report, the global fluoropolymers market was valued at US$5.88 bn in 2015 and is anticipated to reach US$10.64 bn by 2024, expanding at a CAGR of 6.8% between 2016 and 2024.

Fluoropolymers are fluorocarbon based polymers with strong carbon-fluorine bonds. They exhibit excellent chemical and thermal resistance compared to other hydrocarbon polymers. Fluoropolymers are compatible with almost all types of surfaces. They exhibit strong resistance to all acids, bases, and solvents. Beneficial properties of fluoropolymers has resulted in their application in almost all the modern applications. Fluoropolymers are a group of specialty plastics widely used in various end-use industries such as industrial processing, automotive, aircraft, electrical & electronics, building & construction and medical & health care.

Polytetrafluoroethylene (PTFE), synonymous with Teflon (DuPont's registered brand name), was first accidentally discovered in 1938 by Roy Plunkett. Since then, a number of specialty fluoropolymers have been manufactured and commercialized. However, PTFE continues to command the largest market share among all the variants of fluoropolymers. In terms of demand, the market for fluoropolymers has expanded at a faster rate than its peers since the last few years due to the former's superior functional characteristics and easy process ability.

Research Report with ToC & Free Analysis: http://www.transparencymarketresearch.com/fluoropolymers-market.html

Industrial processing was the largest end-user segment of the fluoropolymers market in 2015. It encompasses a wide range of industrial applications. The industrial processing segment accounted for more than 30% share of the global fluoropolymers market in terms of volume in 2015. It includes coatings applied on cookware, chemical processing plants, pipes and valves, and telecommunication cables. Fluoropolymers are used in industrial products in the form of coatings, additives, resins, and films depending upon the product's applicability and exposure of heat and chemicals. Electrical & electronics industry is another prominent end-user of fluoropolymers. Applications in this industry include manufacture of semiconductors, electrical cables and wires, and electronic circuit boards. Applications in the automotive segment include products such as fuel hoses, firewall seals, hydraulic o-ring seals, valve liners, clips for jet engines, fuel tank bladders, gaskets (valve & manifold), lathe cut gaskets, and shaft seals. Fluoropolymers are also employed in construction and medical applications in lower quantity.

PTFE was the first fluoropolymers to be commercialized. It accounted for the largest market share among all product types in 2015. PTFE is widely used in industrial applications. It is employed as coatings on cookware, chemical processing equipment, electronics, textiles, and medical devices. Apart from PTFE, polyvinylidene fluoride (PVDF) and fluorinated ethylene propylene (FEP) are the other popular fluoropolymers. PVDF and FEP are widely used in wire & cable insulation owing to their toughness, inertness, and engineering advantages. FEP is also extensively employed in the production of industrial films and electronics.

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In terms of demand, Asia pacific held the largest share of the global fluoropolymers market in 2015. High growth in GDP coupled with increase in manufacturing activities in countries such as China, India, and those in ASEAN has boosted the fluoropolymers market in the region. Asia Pacific is also projected to be the leader in terms of absolute volume demand during the forecast period. However, among countries, the U.S. constituted the largest share of the fluoropolymers market in terms of consumption in 2015. China was the second largest consumer of fluoropolymers in the same year. The country is estimated to become the most important market in terms of future growth, both in terms of volume and revenue. Europe (after Asia Pacific and North America) accounted for the third largest share of the fluoropolymers market in 2015. The Europe market for fluoropolymers is estimated to grow at a slower pace compared to other regions over the forecast period.

The global fluoropolymers market is consolidated; few companies command major market share. Major companies that dominate the fluoropolymers market include Chemours, Solvay, and Daikin Industries, 3M (Dyneon), Asahi Glass Co., and HaloPolymer JSC. Several medium scale manufacturers also operate in China.

Browse Research Press Release: http://www.transparencymarketresearch.com/pressrelease/fluoropolymers-market.htm

The report comprises the following segments: 

Fluoropolymers Market - Product Segment Analysis 

  • Polytetrafluoroethylene (PTFE)
  • Polyvinylidene fluoride (PVDF)
  • Fluorinated ethylene propylene (FEP)
  • Fluoroelastomers
  • Polyvinyl fluoride (PVF)
  • Others (Including ETFE, ECTFE, etc.)

Fluoropolymers Market - End-user Analysis 

  • Industrial processing
  • Automotive
  • Electrical & electronics
  • Construction
  • Others (Including medical etc.)

Fluoropolymers Market - Regional Analysis 

North America 

  • U.S.
  • Rest of North America

Europe 

  • Germany
  • U.K.
  • France
  • Spain
  • Italy
  • Rest of Europe

Asia Pacific 

  • China
  • Japan
  • ASEAN
  • Rest of Asia Pacific

Latin America 

  • Brazil
  • Rest of Latin America

Middle East & Africa (MEA) 

  • GCC
  • South Africa
  • Rest of MEA

Browse Regional Market Analysis: http://www.europlat.org/global-fluoropolymers-market.htm

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