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(Construction.IndustryNews247.Com, November 03, 2018 ) Fluoropolymers are the advanced olefinic polymeric solutions and are among the most modern materials for different end-use applications. These polymers are highly durable with distinct attributes of high chemical & mechanical strength and electrical insulation as compared to many other polymers.
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The Fluoropolymers market is expected to reach USD 5.25 Billion by 2026 from USD 3 billion in 2017, at a CAGR of 6.4%.
Major Key Player In Global Market: -
3M
DowDuPont
Fluoro-Plastics Inc.
Arkema SA
Afton Plastics
Fluorotherm Polymers Inc.
Asahi Glass Co. Ltd.
Fluoropolymers are used in the manufacturing of large number of end-use products that are used by consumers on daily basis. The global market of fluoropolymers is driven not only by wide array of applications but also by its tendency to replace conventional materials such as glass, metal, and high-performance coatings. These polymers are widely used in electrical & electronics, automotive, aircraft, construction, energy sector, and consumer commodity products.
The market has witnessed several latest and innovative applications of fluoropolymers such as optimized membrane construction for buildings, nonflammable indoor high frequency cables, in reactor design for enhanced yield of reaction, component of dialysis devices, and non-stick coatings. Its wide range end-use markets and industry trends include energy, architecture, chemistry, electronics, automotive, pharmacy, medicine, and most commonly consumer goods.
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Some of the megatrends that have resulted into new applications and challenges for fluoropolymers include limited raw material sources, change of climate & technology, digitization, and aging population. Consumer preference for modern & sustainable products, strong economic performance, and steady growth of many emerging nations globally are some of the crucial growth forces in the rapid growth of end-use industries.
Polytetrafluoroethylene (PTFE) is the largest product segment for the global fluoropolymer market. These have been made commercially available for over 50 years and have also developed variety of applications. Some of its applications include wires & cables, fluid processing equipment, textile fibers, lubricants, and cookware coatings. Polyvinylidene fluoride (PVDF) is known to be the second largest product segment.
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Competitive Landscape
Asia Pacific is anticipated to have the largest demand for the fluoropolymers. Lower cost of production in some its nations has contributed significantly to the growth. In addition to this, the economic growth of its emerging nations such as India and Southeast Asian countries in tandem with the respective industrial growth has also led to increased consumption of fluoropolymers for the region.
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