Ethylene Tetrafluoroethylene Market Trends

Growth Drivers

• Growing Demand from the Aviation and Aerospace Industries – These industries use ETFE for wire coatings and fuel efficiency.  The demand for fluoropolymers such as ETFE is heightening in the aerospace industry with the rising need to employ far lighter materials for aerospace construction so as to reduce the jet fuel demand globally. Lighter materials reduce the weight, improving the agility and speed of aerospace craft besides reduction of needed fuel quantities. The International Energy Agency predicts that jet fuel demand is anticipated to rise at an annual average of 7.2 million barrels a day in 2023 worldwide, compared to 6.1 million in 2022.
• Increasing Investment in Clean Energy – for instance, it was found that the energy investment globally increased by 8% in 2022 to reach USD 2.4 trillion with the anticipated rise coming mainly in clean energy. Moreover, solar PV was observed to account for 3.6% of total global electricity generation in 2021, remaining the third largest renewable electricity technology behind hydropower and wind. This transition is expected to boost the ETFE market growth as ETFE solar panels have widespread applications from small solar collectors to industrial PV systems.
• Prospering Architectural Sector – The boom in the architectural sector can be affirmed by the rising employment opportunities in the sector. For instance, according to the U.S. Bureau of Labor Statistics (BLS), architecture design careers are projected to grow by 3% between 2022-2030. Moreover, the growing use of ETFE in modern architectural projects to build stadiums, polytunnels, and other such structures owing to its cost-efficiency and toughness is anticipated to propel the global ethylene tetrafluoroethylene market in the upcoming years. For instance, as per studies, it is found that ETFE has high strength and is expected to bear a weight that is 400 times its own weight.

Challenges

• Concern About Plastic Pollution – ETFE though claimed "natural" building material is plastic in reality owing to which its widespread utilization is debatable, hampering its market growth. With plastic pollution becoming a major global threat the demand for ETFE is anticipated to hamper over the forecast period. It is observed that of all plastic waste generated worldwide only 9% of plastic gets recycled. Moreover, 24 billion pounds of plastic enter the oceans every year gradually creating a plastic ocean that is responsible for killing over 1 million marine animals.
• Inability to Curb Sound Transmission
• Complexity in Use for Small Projects