BURNABY, Canada, November 24, 2014 /PRNewswire/ --
Rising Demand for Chemically Inert Material in Chemical and Industrial Processing Would Continue to Boost Fluoropolymers Market in India
According to a recently published TechSci Research report, "India Fluoropolymer Market Forecast & Opportunities, 2019", the market for fluoropolymers in India is expected to grow at a CAGR of 9.5% during 2014-19. Increasing demand for chemically inert material with superior physical and chemical properties is one of the major drivers for fluoropolymer demand in India. Their ability to with stand high temperature and pressure makes them suitable for use in industrial application. Fluoropolymers can be broadly classified into five types, Polytetrafluoroethylene (PTFE), Polyvinylidiene fluoride (PVDF), Fluorinated Ethylene Propylene (FEP), Fluoroelastomer and Other category. Among all the segments, Polytetrafluoroethylene (PTFE) dominated the market, holding around 75% market share in volume terms in 2013, while PVDF and FEP are expected to witness faster growth in the coming years.
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Fluoropolymers are also used along with other materials such as glass and carbon fibers in order to enhance protective properties and add durability to machine parts and peripherals. Despite significant demand, India largely lacks in domestic fluoropolymer production base, and thus imports it from countries like China. However, in 2011, such imports created a scenario of great concern for domestic manufacturers. Chinese players started dumping fluoropolymers in India at very lower prices, which vastly affected the sales of domestic players. To regulate imports of low-cost Chinese fluoropolymer compounds, the Government of India renewed Anti-Dumping duties for five years in December 2012.
"Chemical processing & pharmaceutical industry is one of the key end user industries for fluoropolymers in India. While chemical industry uses fluoropolymers for making internal lining of chemical carrying pipes, pharma industry uses it for making drug delivery devices. Over the coming years, growth in end user industries is expected to drive the market for fluoropolymers in India." Said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
"India Fluoropolymer Market Forecast & Opportunities, 2019" has evaluated the future growth potential of fluoropolymer Market and provided the statistics and information on market structure, industry behaviour and trends. The report includes PTFE, PVDF, FEP, Fluoroelastomer & Other fluoropolymer market projections and demand forecasting. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment evaluation. Besides, the report also identifies and analyses the emerging trends along with essential drivers, challenges and opportunities available in fluoropolymer market of India.
About TechSci Research
TechSci Research is a global market research and consulting company with offices in Canada, UK and India. TechSci Research provides market research consulting services in six verticals - Information Technology, Chemicals, Water & Water Recycling, Consumer Goods & Retail, Automotive and Energy & Power. The company uses proprietary innovative business model that focuses on improved productivity that also ensure the creation of high-quality reports. With more than 100 client engagements with fortune 500 clients, TechSci Research enjoys the status of a premium market research services provider in the industry.
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