High Performance Fluoropolymers Market worth 5.08 Billion USD by 2022
The report “High Performance Fluoropolymers Market by Type (FPTFE, FEP, PFA/MFA, ETFE), End-Use Industry (Industrial Processing, Transportation, Electrical & Electronics, Medical), and Region (North America, Asia Pacific, Europe) – Global Forecast to 2022″, The market size of high performance fluoropolymers is estimated to grow from USD 3.69 Billion in 2017 to USD 5.08 Billion by 2022, at a CAGR of 6.6%. The market is driven due to the replacement of conventional materials by HPFs in various end-use industries, such as electrical & electronics, medical, industrial processing, and transportation, for high temperature applications, as well as improved regulations by the regional environment associations.
Browse 63 Market Data Tables and 34 Figures spread through 124 Pages and in-depth TOC on “High Performance Fluoropolymers Market.
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PTFE is the most widely used resin type in the HPFs market
High performance fluoropolymers are of various types. PTFE, FEP, PFA/MFA, and ETFE are the main types considered in the report. The PTFE segment accounted for the largest market share, in terms of both value as well as volume, followed by FEP and PFA/MFA segments in 2016. The PTFE segment captures the largest market share due to its high demand in various applications, vast availability, and better properties For example, PTFE’s high chemical resistance makes it convenient for fittings and in equipment for chemical and food processing industries. In addition, it is used to manufacture products such as seals, piston rings, and bearings in the industrial equipment industry. It is available at a lower price as compared to other high performance fluoropolymers. It is also the most extensively used HPF for non-stick coating on pans and other cookware applications.
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Industrial processing segment projected to lead the HPFs market
High-performance fluoropolymers are used in various end-use industries, such as industrial processing, transportation, electrical & electronics, medical, and others. The industrial processing end-use industry was estimated to account for the largest market share in 2016, in terms of value as well as volume, followed by transportation, electrical & electronics, and medical industries. This high demand in industrial processing is due to the high heat and chemical resistance properties of HPFs, which provide better efficiency over traditional materials in various applications in industrial processing. In this industry, HPFs are widely used in chemical processing, food production, textile processing, oilfield equipment, and pharmaceutical processing.
North America: The largest market for high-performance fluoropolymers
North America is currently the largest market for HPFs owing to its fast pace of economic advancement and huge demand from a wide range of industries such as electrical & electronics, chemical, and automobiles. In addition, the increasing usage of HPFs in wire & cable and semiconductor production in the electrical & electronics industry to fulfill the increasing demand for high-speed data transfer over long distances is driving the market in the US. The US is the largest market for HPFs in the North American region.
Forces driving the market for HPFs in North America are:
Presence of major manufacturers of HPFs in the region
Growing end-use industries, such as transportation, electrical & electronics, and medical in major countries such as the US and Canada
Key players in the high performance fluoropolymers market are The Chemours Company (US), Daikin Industries, Ltd. (Japan), The 3M Company (US), Solvay SA (Belgium), Asahi Glass Co., Ltd. (Japan), The Dongyue Group (China), and Gujarat Fluorochemicals Limited (India).