DUBLIN, Feb. 26, 2020 /PRNewswire/ -- The "Automotive Fluoropolymers Market by Vehicle Type, by Product Type, by System Type, by Component Type, and by Region - Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2019-2024" report has been added to ResearchAndMarkets.com's offering.
The global fluoropolymers market in the automotive industry is estimated to top US$ 1.4 billion in sales by 2024.
This paragon 265-page automotive fluoropolymers market report includes both, fluoropolymers as well as fluoroelastomers, and portrays a complete 360-degree view of the market, covering 12-year analysis (trend period: 2013-2018 and forecast period 2019-2024) in terms of both, value and volume.
The growth in the demand for fluoropolymers in the automotive industry has been outpacing the growth of the overall automotive industry for the last two eons. Increasing global automobile production, increasing requirement of high-temperature-resistant materials because of engine downsizing, and increased demand for lightweight materials to address the stringent emission regulations are creating a healthy demand for fluoropolymers in the automotive industry.
Currently, the automotive industry accounts for merely 15% of the total fluoropolymers consumption in terms of volume; however, the industry is indisputably one of the fastest-growing end-use segments of fluoropolymers, outpacing the average industry growth, propelled by an incessant rise in the penetration of fluoropolymers in various applications including seals and hoses, especially for charge air coolers. The demand for charge air cooler has been at pinnacle because of the rising demand for turbocharged vehicles in both types of gasoline as well as diesel vehicles, giving an impetus to demand fluoropolymers and creating new revenue pockets for the market participants.
Rising global temperature, changing customer requirements, the introduction of stringent government regulations regarding safety and emission reductions, and rising traffic congestion are some of the factors that are compelling all the industries to build more sustainable business environments. The impact of these factors has been the most on the automotive industry with this decade being the most disruptive one with several megatrends collectively transforming the industry. Among many megatrends, the most noticeable ones are autonomous, emission-free mobility, fuel efficiency, sharing, and connected vehicles. Today, almost all the major automakers are putting efforts into the development of vehicles addressing most of these trends.
Among these megatrends, the development of fuel-efficient vehicles is equally imperative which has efficaciously been being unraveled by automakers by making essential changes in the materials, vehicle design, geometry, aerodynamics, etc. They have been meticulously leveraging the potential of fluoropolymers in the critical sections of the vehicle in order to address the tightening carbon emission standards of government or regulatory authorities regarding fuel efficiency enhancements.
Lucrative expected future growth of the market is compelling the market participants to expand their existing capacity in order to cater to the growing market demand. For instance, in Oct. 2018, Solvay announced to increase the production capacity of its Tecnoflon FKM, targeting growing demand from hybrid and low-emission internal combustion engine (ICE) vehicles. The combined capacity at its two plants in China and Italy is likely to be increased by 30% by the fourth quarter of 2019. Similarly, in Sep. 2018, Solvay also announced its plan to increase the production capacity of its Solef PVDF fluoropolymer in France site, by more than 35%, to target various applications including lithium-ion battery binders and coatings used in electric vehicles.
Market Share by Vehicle Type
The market is segmented based on vehicle type as a passenger car, LCV, and M&HCV. Passenger car is expected to remain the largest market segment over the next five years. The vehicle type (passenger car) is also likely to witness the highest growth during the same period. Large production of cars coupled with high penetration of fluoropolymers has led to the huge dominance of the segment in the market.
Market Share by Product Type
Based on the product type, the market is segmented as PTFE, FKM, PVDF, and others. PTFE is likely to remain the most dominant fluoropolymer type consumed in the automotive industry during the forecast period, whereas FKM is likely to witness the highest growth during the same period. FKM is a preferred choice of material in various fuel system applications, such as fuel cap main seal, fuel rail seal, fuel filler hose, fuel pump seal, and fuel injector seals.
Market Share by System Type
Based on the system type the market is segmented as powertrain, fuel system, air management system, and others. Fuel system is the major application area of fluoropolymers and is likely to maintain its dominance in the market in years to come, whereas the air management system is likely to be the fastest-growing segment of the market during the same period. The key applications of air management systems such as turbocharger hose, SCR injector seal, turbocharger hose seal, and EGR stem seal, are experiencing significant growth; thereby, pushing the growth of the segment.
In terms of region, Asia-Pacific is projected to remain the largest automotive fluoropolymers market during the forecast period in terms of both value and volume. China and India are the growth engines of the Asia-Pacific's market. North America and Europe, the next two major markets, are likely to generate sizeable growth opportunities in the coming five years.
The supply chain of this market comprises raw material suppliers, fluoropolymer manufacturers, product manufacturers, system manufacturers, automotive OEMs, distributors, and dealers. The Chemours Company, Daikin Industries Limited, The 3M Company, Solvay S.A, AGC Inc., Arkema SA, Dongyue Group Co., Ltd., and Honeywell International Inc. are well-known fluoropolymer manufacturers for the automotive industry. New product development, advancements in automotive fluoropolymers properties, and collaboration with OEMs or tier players are the key strategies adopted by the major players to gain a competitive edge in the market.
Key Topics Covered
1. Executive Summary
2. Automotive Fluoropolymers Market Overview and Segmentation
2.2. Automotive Fluoropolymers Market Segmentation
2.2.1. By Vehicle Type
2.2.2. By Product Type
2.2.3. By System Type
2.2.4. By Application Type
2.2.5. By Region
2.3. Supply Chain Analysis
2.4. Industry Life Cycle Analysis
2.5. PEST Analysis
2.6. SWOT Analysis
3. Automotive Fluoropolymers Market Assessment
3.2. Automotive Fluoropolymers Market Trend and Forecast (US$ Million and KT)
3.3. Profitability Analysis
3.4. Automotive Fluoropolymers Market - Segments Analysis (US$ Million and KT)
3.5. Automotive Fluoropolymers Market - Regional and Country-Level Analysis (US$ Million and KT)
3.6. Market Drivers
3.7. Market Challenges
3.8. Industry Personnel/Expert Opinion
4. Competitive Analysis
4.2. Product Portfolio Analysis
4.3. Geographical Presence
4.4. Strategic Alliances
4.5. Market Share Analysis
4.6. Porter's Five Forces Analysis
5. Automotive Fluoropolymers Market Trend and Forecast by Vehicle Type (2013-2024)
5.2. Passenger Car: Regional Trend and Forecast (US$ Million and KT)
5.3. LCV: Regional Trend and Forecast (US$ Million and KT)
5.4. M&HCV: Regional Trend and Forecast (US$ Million and KT)
6. Automotive Fluoropolymers Market Trend and Forecast by Product Type (2013-2024)
6.2. PTFE: Regional Trend and Forecast (US$ Million and KT)
6.3. FKM: Regional Trend and Forecast (US$ Million and KT)
6.4. PVDF: Regional Trend and Forecast (US$ Million and KT)
6.5. Others: Regional Trend and Forecast (US$ Million and KT)
7. Automotive Fluoropolymers Market Trend and Forecast by System Type (2013-2024)
7.2. Fuel System: Regional Trend and Forecast (US$ Million and KT)
7.3. Powertrain System: Regional Trend and Forecast (US$ Million and KT)
7.4. Air Management System: Regional Trend and Forecast (US$ Million and KT)
7.5. Others: Regional Trend and Forecast (US$ Million and KT)
8. Automotive Fluoropolymers Market Trend and Forecast by Application Type (2013-2024)
8.2. Seals: Regional Trend and Forecast (US$ Million and KT)
8.3. Hoses: Regional Trend and Forecast (US$ Million and KT)
8.4. Gaskets: Regional Trend and Forecast (US$ Million and KT)
8.5. Others: Regional Trend and Forecast (US$ Million and KT)
9. Automotive Fluoropolymers Market Trend and Forecast by Region (2013-2024)
9.2. North American Automotive Fluoropolymers Market Analysis
9.2.1. Country Analysis: Trend and Forecast (US$ Million and KT)
188.8.131.52. The USA's Automotive Fluoropolymers Market Trend and Forecast (US$ Million and KT)
184.108.40.206. Canada's Automotive Fluoropolymers Market Trend and Forecast (US$ Million and KT)
220.127.116.11. Mexico's Automotive Fluoropolymers Market Trend and Forecast (US$ Million and KT)
9.2.2. Vehicle Type Analysis: Trend and Forecast (US$ Million and KT)
9.2.3. Product Type Analysis: Trend and Forecast (US$ Million and KT)
9.2.4. System Type Analysis: Trend and Forecast (US$ Million and KT)
9.2.5. Application Type Analysis: Trend and Forecast (US$ Million and KT)
9.3. European Automotive Fluoropolymers Market Analysis
9.4. Asia-Pacific's Automotive Fluoropolymers Market Analysis
9.5. Rest of the World's (RoW) Automotive Fluoropolymers Market Analysis
10. Strategic Growth Opportunities
10.2. Market Attractiveness Analysis
10.2.1. Market Attractiveness by Vehicle Type
10.2.2. Market Attractiveness by Product Type
10.2.3. Market Attractiveness by System Type
10.2.4. Market Attractiveness by Application Type
10.2.5. Market Attractiveness by Region
10.2.6. Market Attractiveness by Country
10.3. Emerging Trends
10.4. Growth Matrix Analysis
10.5. Key Success Factors (KSFs)
11. Company Profile of Key Players
11.1. AGC Inc.
11.2. Arkema S.A.
11.3. Daikin Industries Limited
11.4. Dongyue Group Co. Ltd.
11.5. Gujrat Fluoropolymer Limited
11.6. Honeywell International Inc.
11.7. Kureha Corporation
11.8. 3M Company
11.9. The Chemours Company
11.10. Solvay S.A.
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