HYDERABAD, India, June 10, 2019 /PRNewswire/ -- According to a new market research report by Mordor Intelligence, the FEVE Fluoropolymer Coatings market is expected to witness a healthy growth, at an estimated CAGR of 4.08% over the forecast period (2019-2024).The major factors driving the growth of the market studied include the growing manufacturing sector in the Asia-Pacific region and increased usage of high-performance coatings, due to cost benefits and longer lifespan, along with the growth in the application sector.
Highlights from the report:
- The building and construction segment accounted for the largest share in the market studied, in 2017.
- In 2017, Asia-Pacific dominated the market studied, and is expected to witness the highest CAGR, both in terms of value and volume.
- High costs of some of the FEVE fluoropolymer resins are expected to slightly hinder the market growth
- The increasing usage of High-performance Coatings is driving the market.
- Currently, the building and construction industry is a thriving industry in several emerging economies of the Asia-Pacific and North American regions. This is going to drive the usage of FEVE coatings, like roof coatings, which also provide energy savings through solar reflectance and reduction of heat transfer into buildings, along with preventing infrastructure failures.
- Strict environmental policies and regulations are expected to hinder the growth of the market studied.
Download a FREE sample of our report: FEVE Fluoropolymer Coatings Market - Growth, Trends, and Forecasts (2019-2024)
Asia-Pacific to Witness Strong Demand:
- Asia-Pacific is estimated to witness a healthy growth over the assessment period, in the FEVE fluoropolymers market, due to the wide usage of fluoropolymer coatings in numerous end-use application segments, due to their desirable properties.
- Asia-Pacific is the biggest market, with China in the lead, followed by Europe and North America.
- Although costly, and with Asia-Pacific being a cost-sensitive market, the demand for FEVE fluoropolymer coating is expected to surge in various countries of the region, such as India, Japan, and South Korea.
- This surge in demand is due to increasing construction activities, along with high adoption rate from various end-user industries, as they decrease the number of recoats and have a lifespan of 20+ years.
- Moreover, many big global players are shifting their manufacturing units to Asia-Pacific, due to the availability of raw materials and reduced labor costs.
- Hence, FEVE fluoropolymer coatings are going to have a good market base, as companies invest in infrastructure and manufacturing hubs for various industries, ranging from automotive, building and construction, etc.
Know more about the FEVE Fluoropolymer Coatings Market (2019-2024)
Mordor Intelligence has segmented the FEVE Fluoropolymer Coatings Market on the basis of End-user Industry, and geography:
- End-user Industry
- Building and Construction
- Aviation and Aerospace
- Other End-user Industries
- South Korea
- Rest of Asia-Pacific
- North America
- United States
- Rest of North America
- United Kingdom
- The Netherlands
- Rest of Europe
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East & Africa
Browse in-depth TOC of FEVE Fluoropolymer Coatings Market
The market is consolidated, with the top five players accounting for more than 70% of the share. Major players in the FEVE coatings market are PPG Industries Inc., AkzoNobel NV, the Sherwin Williams Company, Daikin Industries Ltd, and KCC Corporation.
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Mordor Intelligence, LLP. provides market intelligence and advisory services that empowers enterprises to shape their strategic decisions. With a strong team of in-house experts and a host of industry tie-ups, Mordor offers syndicated and custom market intelligence services that have helped more than 700 clients gain an edge over their competition. Mordor's expertise lies in niche analysis with a quick turnaround time, making it the preferred choice for startups as well as Fortune 500 organizations.
Name: Sameeksha Bansal
SOURCE Mordor Intelligence LLP