Fluoroplastics Market Highlights 2020-2029
The fluoroplastics market is estimated to grow with a moderate CAGR during the forecast period, i.e., 2021-2029. The market is set to grow due to the growing demand from the end-use industries and increase in number of new applications of fluoroplastics. Furthermore, fluoroplastics are uncommon and unusual plastics with unique properties such as chemical and temperature resistance. The consumption of these materials is increasing owing to the rising demand from chemical, automotive, electrical & electronics, and other industries.
The market is segmented by type into poly-tetra-fluoro-ethylene (PTFE), fluor-ethylene-propylene (FEP), per-fluor-alkoxy (PFA), ethylene-tetra-fluoro-ethylene (ETFE), polyvinylidene fluoride (PVDF) and others, out of which the poly-tetra-fluoro-ethylene (PTFE) segment is anticipated to grab the most significant share by the end of 2029 on account of its superior properties such as high electrical insulation, good chemical & thermal resistance, and a low coefficient of friction. Moreover, the lesser cost and increasing usage of PTFE in automotive and electrical components are projected to contribute to the segment's growth during the forecast period.
Based on the end-use industry, the global fluoroplastics market's industrial machinery segment is projected to grow with a modest CAGR. The segment's growth can be witnessed due to the use of fluoroplastics for coatings, liners, films, components, and others. The other industries, which will lead to the market's growth are electrical & electronics, and automotive due to the increasing demand for lightweight materials. The increase in the sales of electric vehicles globally leads to the rise in demand for fluoroplastics as a raw material. According to the International Energy Agency (IEA), electric vehicles' sales accounted for 2.1 million in 2019, with a growth of 2.6% from the year 2018. CLICK TO DOWNLOAD SAMPLE REPORT
Fluoroplastics Market Regional Synopsis
Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa region. The Asia Pacific market is predicted to grow at the highest CAGR over the forecast period due to more prominent manufacturers in the region. China, Japan, India, and South Korea are the hub for automotive production, creating steady demand for fluoroplastics.
The global fluoroplastics market is further classified on the basis of region as follows:
- North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis
Market Segmentation
Our in-depth analysis of the global fluoroplastics market includes the following segments:
By Type
- Poly-Tetra-Fluoro-Ethylene (PTFE)
- Fluor-Ethylene-Propylene (FEP)
- Per-Fluor-Alkoxy (PFA)
- Ethylene-Tetra-Fluoro-Ethylene (ETFE)
- Poly Vinylidene Fluoride (PVDF)
- Others
By Form
- Granular
- Fine Powder
By End-Use Industry
- Electrical & Electronics
- Automotive
- Chemical Processing
- Oil & Gas
- Power Generation
- Food Processing
- Transportation
- Industrial Machinery
- Medical Devices
- Others
Growth Drivers
- Growing advancements in the end-use industries
- Increasing production capabilities
Challenges
- Environmental hazards of the material
Top Featured Companies Dominating the Market
- AGC Inc.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Arkema S.A.
- Solvay S.A.
- The Chemours Company
- Daikin Industries, Ltd.
- 3M
- Dongyue Group Co., Ltd.
- GFL Limited
- DuPont
- Mitsubishi Chemical Advanced Materials
