The fluoropolymers market was valued at US$ 7 billion in 2022; registering at a CAGR of 5.2% during 2022–2028, according to a new research study conducted by The Insight Partners.
Rising Demand from Various End-Use Industries to Drive Fluoropolymers Market
Fluoropolymers Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: by Type [Ethylene Tetrafluoroethylene Copolymer (ETFE), Polytetrafluoroethylene (PTFE), Perfluoro Alkoxy (PFA), Polyvinylidene Fluoride (PVDF), Fluoroethylene Propylene (FEP), and Others], End User (Industrial Equipment, Automotive, Construction, Electrical & Electronics, Medical, and Others), and Geography (North America, Europe, Asia Pacific, and South and Central America)
Fluoropolymers Market Insights and Growth by 2031
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Fluoropolymers are generally chemically stable and inert or relatively unreactive. Their reactivity decreases as the fluorine content of the polymer increases. This family of plastics has almost no toxicological activity. Fluoropolymers are used in applications requiring chemical resistance, thermal stability, and cryogenic properties. Fluoropolymers have low coefficient of friction, low surface energy, low dielectric constant, and high flame resistance. Because of these properties, fluoropolymers are used as liners for pipes, tanks, tubes, and containers. Moreover, high durability and low maintenance requirement make fluoropolymers an economical alternative to conventional polymers.
Based on type, the fluoropolymers market is segmented into ethylene tetrafluoroethylene copolymer (ETFE), Polytetrafluoroethylene (PTFE), perfluoro alkoxy (PFA), polyvinylidene fluoride (PVDF), fluoroethylene propylene (FEP), and others. The polytetrafluoroethylene (PTFE) segment dominated the fluoropolymers market in 2021. PTFE fluoropolymers have low dielectric constant, high thermal stability, and high electric insulation. They are widely used for insulation in the electrical & electronics industry. Moreover, due to the high chemical stability of PTFE polymers, they are used for coating non-stick cookware and bakeware. In the oil & gas industry, they are used for lining pipes and tanks and producing gaskets and seals. PTFE fluoropolymers are witnessing high demand from various end-use industries, which is driving the market for the segment.
Fluoropolymers are witnessing high demand in the healthcare industry as they are chemically inert and durable and exhibit high thermal stability. The manufacturers of fluoropolymers are taking various strategic initiatives, which are expected to provide them with immense growth opportunities. In March 2020, Zeus Industrial introduced a new product, “StreamLiner OTW,” which is an extruded PTFE catheter liner. With the launch of this product, the company is expected to expand its footprint in the healthcare industry. Thus, an increase in product launches is expected to provide strong growth potential to the fluoropolymers market over the forecast period.
3M; AGC Chemicals Americas; Daikin Industries, Ltd.; Fluoroseals SpA; GFL Ltd; Halopolymer; Saint-Gobain; Solvay; Shandong Dongyue Polymer Material Co., Ltd; and The Chemours Company are among the key players profiled in the study of the fluoropolymers market. Several other major companies were analyzed in this research study to get a holistic view of the market and its ecosystem.
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