Fluoropolymers Market - Outlook, and Opportunity Analysis, 2018–20

Fluoropolymers are polymers characterized by numerous strong carbon-fluorine bonds. Owing to the unique attributes such as mechanical, chemical resistant and electrical insulation, fluoropolymers are considered as highly durable protective coatings in various applications such as architectural coating preparations, particularly those required in the exteriors. Fluoropolymers have a high usage in industrial processing due to their oil and chemical resistant properties.

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Key factor driving the global consumption levels of fluoropolymers is rampant growth of the automotive end-use industry. Fluoropolymers have a prominent application in the auto industry activities such as production processes of fuel hoses, gaskets, O-rings, shaft seals, power steering systems, and transmission systems. All types of fluoropolymers used in automotive industry offer superior and desirable characteristics of high resistance to thermal wear, chemical exposure, friction, and mechanical wear and tear. Furthermore increasing demand for fluoropolymers is also observed in the manufacturing processes of electronics and medical devices. The various other applications of fluoropolymers in cookware, semiconductors, cables, and wires are also expected to fuel demand for fluoropolymers over the forecast period (2016–2024).

However, the market is expected to have few potential restraints such as environmental concern regarding the usage of fluoropolymers, as it is nearly impermeable to natural degradation due to its attributes. Furthermore, numerous fluoropolymers break down into chemicals that can cause cancer.

Fluoropolymers Market: Market Taxonomy

By Product Type

The global market is segmented on the basis of product type as follows:

• Polyvinylidene fluoride (PVDF)
• Polytetrafluoroethylene (PTFE)
• Fluorinated ethylene propylene (FEP)
• Fluoroelastomers

By Application

The global market is segmented on the basis of application as follows:

• Automotive & Transportation
• Industrial Equipment
• Electrical & Electronics
• Chemical Processing
• Additives
• Coatings & Liners
• Films
• Others

By End User

The global market is segmented on the basis of end users as follows:

• Healthcare
• Industrial Processing
• Automotive & Aerospace
• Transportation Equipment
• Construction
• Medical
• Textiles
• Cookware
• Lubricants
• Plastics & Elastomers
• Electrical & Electronics
• Others

Fluoropolymers Market Outlook- Asia Pacific is expected to highlight potential market opportunity for the key players

In Europe, Germany holds a dominating position in the fluoropolymers market attributed to its rapid economic advancement along with significant demand from across industries, particularly automobiles. The U.K. was the second largest market for fluoropolymers in Europe.

North America fluoropolymers market is expected to witness moderate growth over the forecast period. This is mainly attributed to growing demand for fluoropolymers in various flourishing industries such as electrical & electronics and automobile in the region. U.S. holds a leading position in the North America market, followed by Canada and Mexico, respectively. Rapid industrial growth in Mexico in turn creates a highly conducive environment for growth of the regional market for fluoropolymers in the near future.

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