Fluoropolymers Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth And Forecast 2022-2027

Report Code: CMR 85757 Report Format: PDF + Excel

Fluoropolymers Market Overview

The global fluoropolymers market size is estimated to reach US$11.2 billion by 2027 and is growing at a CAGR of 5.4% from 2022 to 2027. Fluoropolymers are actually a polymer with a carbon backbone and contain fluorine that forms strong carbon–fluorine bonds. Fluoropolymers show high resistance to heat, chemical reactions, corrosion and pressure cracking. Some of the emerging trends in the fluoropolymers market include the growing application of fluoropolymers in transportation, neoecology, electrical and electronics, and telecommunications sectors. For instance, in the electronics industry fluoropolymers such as polyvinylidene fluoride (PVDF) are used extensively owing to their durable, low maintenance, and economical alternatives to exotic metals. There is a growing demand for fluoropolymers in the medical industry as there is an increasing preference among various membranes and grafts manufactured using biocompatible polytetrafluoroethylene (PTFE) for cardiovascular, orthopedic, ophthalmic and dental procedures. Global market growth in the fluoropolymers industry is also driven majorly by its application in the chemical industry. The major growing demand for fluoropolymers is noticed in the chemical industry for various applications including pumps, heat exchanger coatings, autoclaves and others. This is due to the high structural properties of fluoropolymers such as non-adhesive, low collision, non-stick, high dielectric, and chemical resistant properties.

COVID-19 Impact

The COVID-19 impacted the fluoropolymers market, due to the lockdown implemented in almost every sector all across the world. The automotive and aerospace industries got impacted negatively as these industries count as the major customers of fluoropolymers. In commercial aviation, companies are experiencing disruption in production and slowing demand due to low workforce, restriction in traveling and low demand for spare parts. Aircraft manufacturers are capital intensive by nature, thus raising short-term concerns about cash flow and liquidity. The decline in production affected the suppliers of material and these factors have impacted the fluoropolymers demand. Whereas, the demand for fluoropolymers in the medical industry has faced significant high growth, as there is a high demand for testing and other health equipment due to the Pandemic. Fluoropolymers are highly preferred in the medical industry because of their properties such as dielectric, lubricity and biocompatibility. This in turn will increase the growth of fluoropolymers market.

Report Coverage

The report: “Fluoropolymers Market – Forecast (2022-2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the Fluoropolymers Industry.

By Polymer Type: PolyTetraFluoroEthylene (PTFE), Perfluoro Alkoxy (PFA), Fluoroethylene Propylene (FEP), Ethylene Tetrafluoroethylene Copolymer (ETFE), Ethylene Chlorotrifluoroethylene Copolymer (ECTFE), Polychlorotrifluoroethylene (PCTFE), Poly Vinylidene Fluoride (PVDF), and polyvinyl fluoride (PVF), and Others.
By Application: Sheets and Films, Fuels and Lubricants, Adhesives and Sealants, Paints and Coatings, Pipes and Tubing, Membranes & Filtration, Insulations, Home Appliances, and Others.
By End-Use Industry: Building and Construction (Residential Construction, Commercial Construction, Industrial Construction, Infrastructure), Oil & Gas Industries, Food & Beverage Industry, Automotive Industry (Passenger Cars, Light Commercial Vehicles (LCVs), Heavy Commercial Vehicles (HCVs)), Medical and Healthcare (Endoscopy, Cannulas, Drug delivery, Protective covers, Others), Chemicals Industry, Aerospace Industry, Water and Wastewater Treatment, Electrical and Electronics (Wire & Cables, Photovoltaic Modules, Batteries, Fuel Cells, Semiconductors, Others), Telecommunications, Energy and Power (Wind, Solar) and Others.
By Geography: North America (USA, Canada, and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia, and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), Middle East (Saudi Arabia, UAE, Israel, Rest of the Middle East) and Africa (South Africa, Nigeria, Rest of Africa)

Key Takeaways

  • The tubes and pipes segment accounted for the highest market share as fluoropolymers pipes are used by various industries including automotive, petrochemicals, pharmaceuticals, and chemicals. Mostly polyvinylidene fluoride is used in piping and tubing applications because of its properties like thermal and chemical compatibility.
  • Asia-Pacific is expected to have the fastest growth in the market, which is subjected to increasing demand for fluoropolymers products as there is an increase in construction hubs in China, India, Japan and others. For instance, there was a recent initiation of the Affordable Rental Housing Scheme (AHRC) scheme taken by the Indian Government to provide affordable accommodation to the migrant workers. Such schemes taken by the Government of India will drive the growth of residential construction in India. The demand in construction will promote the demand for automotive, consumer, and electronics products. Thus, there will be a growth in the demand for fluoropolymers in the Asia-Pacific Region. 

Figure: Asia-Pacific Fluoropolymers Market Revenue, 2021-2027 (US$ Billion)

Fluoropolymers Market Revenue

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Fluoropolymers Market Segment Analysis – By Type

The polytetrafluoroethylene (PTFE) segment accounted for more than 40% of the global market share in 2021 and is expected to grow at a CAGR of nearly 5% in the forecast period. PTFE fluoropolymer is estimated to remain as the largest segment both by value and volume and is seen to experience the highest growth over the forecast period, because it absorbs ultraviolet electromagnetic radiation and possesses some excellent dielectric and chemical resistance properties. It is also capable to be used both at very high (up to 530 K) and extremely low temperatures. These properties are used across a wide range of applications such as semiconductors, automotive components, electrical appliances, and non-stick frying pans. Additionally, PTFE’s cost has increased over the years due to an increase in raw material prices which are used for fillers, pigments, resins. For instance, Gujarat Fluorochemical Limited uses INOFLON PTFE Resins which is an engineering plastic designed for high performance under some of the most extreme conditions. They are known for their exceptional chemical resistance, low coefficient of friction, outstanding weatherability, dielectric strength, thermal stability, flame resistance, and a wide range of service temperatures.

Polyvinylidene fluoride (PVDF) is the second largest segment owing to its superior chemical and mechanical properties, for which these are extensively used for wiring and insulation. PVDF coatings are also extensively used in the field of construction. For instance, Solvay, a major player in the fluoropolymers market produces Solef PVDF which is a highly non-reactive thermoplastic fluoropolymer that is inherently flame retardant. It has properties like high degree of purity, electrochemical stability, and broad chemical resistance at high temperatures. Protective coatings which are made using Solef PVDF offer improved weathering properties and excellent UV radiation resistance.

Fluoropolymers Market Segment Analysis – By Application

By application, the pipes segment accounted for the highest market share of around 30% in 2021, and is estimated to hold the highest share even during the forecast period. Fluoropolymers pipes are mostly been used by petrochemicals, pharmaceuticals, chemicals, and other industries involved in the handling of extremely volatile and corrosive solvents and acids for their manufacturing needs. For instance, Daikin, one of the major players in the fluoropolymers market; uses fluoropolymers in making tubes and hoses. The tubes, pipes, hoses are used to transfer aggressive fluids or gases in car engines or for chemical process industry (CPI) have certain requirements for specific performances which only a few materials can offer. To meet the demanding fuel line challenges of the automotive segment and the safety needed by CPI, DAIKIN offers products such as DAI-EL fluoroelastomers and NEOFLON fluoropolymers. The manufacturing processes involving chemicals treatment, such as semicon or pharma are extremely demanding regarding performance and productivity. The pipes and tubes used to convey aggressive fluids are expected to limit contamination, increase release rate and last as long as possible. DAI-EL and NEOFLON range are the best options to offer tube manufacturers and their clients the opportunity to increase productivity. Parts service life is extended, inducing less replacement and maintenance. The low coefficient of friction of fluoropolymers favors the fluid transfer. Because they are inert materials, they also reduce the risk of process contamination.

Fluoropolymers Market Segment Analysis – By End-Use Industry

Medical Industry segment will be contributing the most in the market share of fluoropolymers market as the healthcare and medical analytics market is expected to register a CAGR of nearly 18% over the forecast period. In the rush to contain COVID-19, market players are rapidly developing artificial intelligence and data analytics in healthcare, paving the way for the future of the technologies. A number of foundational shifts are arising from and being exacerbated by COVID-19’s spread. Examples include consumers’ increasing involvement in health care decision-making; the rapid adoption of virtual health and other digital innovations. Analytical devices and monitoring machines contain components with polytetrafluoroethylene (PTFE) coating which prevents the growth of harmful microorganisms and friction between the components. Fluoropolymers show some unique properties like they facilitate non-invasive surgical procedures, less frequent clogging, reduced risk of cross-infections and others which enable them to have excellent performance and long lifetime in medical equipment such as surgically implantable medical devices, catheters, guide wires, filters and pumps. This reduces the need for replacements, risk of failure, cross-infections and clogging of medical equipment, thereby contributing to the reduction and avoidance of medical complications, the associated pain and public cost.

Chemical and petrochemicals industry also held a significant share in the market because industries such as automotive industry and others demand for intermediate inputs from the chemical industry. Fluoropolymers help create non-stick surfaces in applications that require temperature resistance. They’re used in lined pipes, valves, pumps, tank and reactor linings, gaskets and seals. They’re crucial to the safety of workers and the public, as they keep all kinds of equipment and chemical systems secured.

Fluoropolymers Market Segment Analysis – By Geography

By geography, Asia-Pacific is seen to emerge as the fastest growing market, subjected to which there will be an increase in demand for fluoropolymers products. The reason being, there are large building and construction hubs in China and India which in turn drive the Asia-Pacific fluoropolymers market. This on the other hand will increase the demand for high-quality medical, automotive, consumer, and electronics products. For instance, India witnessed the fastest growth rate in the construction activity in nearly eight years in 2021. GDP from Construction in India increased to US$43 billion in the first quarter of 2021 from US$37 billion in the fourth quarter of 2020. Fluoropolymers play a huge role in the construction sector as they provide durable, thermally stable, easy-to-clean building materials which can both reduce building cooling costs and energy use, while enabling landmark architectural designs not feasible with other materials. Some well-known examples include the Mercedes Benz Stadium in Atlanta, GA, and the Denver Airport’s fiberglass roof.

There is also a huge scope in fluoropolymer film market specifically in Japan, owing to huge opportunities in electrical and electronics, construction, packaging, transportation, and industrial sector.

Fluoropolymers Market rivers

Increasing medical and healthcare segment is driving the demand for fluoropolymers market

An increase in medical and healthcare segment due to the pandemic is considered to be the major driver in the fluoropolymers market. Increased emphasis on health and hygiene to avoid potential COVID-19 contagion has bolstered sales of various hospital disposables. In addition, governments and health authorities are leveraging federal powers to influence manufacturers to ramp up production of hospital disposables at significant pace. Compared to other sectors, pharmaceutical firms are estimated to be highly growing by developing innovative products, and as a result investing considerably in R&D activities. There is an abundant increase in the launch of new products, such as development of vaccines in the pandemic time. Therefore, the manufacturers and distributors of fluoropolymers will have to look at existing systems and devise ways to step up these systems for bigger margins.

Growing demand of PTFE polymer

Polytetrafluoroethylene (PTFE) will also grow more in the forecast year as it is extensively utilized in almost all sectors like semiconductors, automotive components, electrical appliances and others. PTFE is also used for improving the overall functioning and minimizing the downtime of industrial machines and automotive components. It is also used in construction segment which includes gaskets, vessel linings, pump interiors, rings, seals and well-drilling equipment. PTFE finds applications in the oil and gas exploratory activities, owing to its high resistance to harsh chemicals, acids and caustic.

Fluoropolymers Market Challenges

 Rising environmental concerns

The biggest challenge faced by the fluoropolymers industry is the stringent regulations imposed by the government, both on manufacture and use of fluoropolymers. The reason is that if fluoropolymers are melted over the melting point, then it releases toxic gases which hampers the environment. This in turn hampers the market growth. Fluoropolymers can produce toxic products if they are overheated. Precautions should be taken to remove any degradation products and off-gases produced during the processing and fabrication of parts from fluoropolymers.

Fluoropolymers Market Landscape

Technology launches, acquisitions and R&D activities are key strategies which are adopted by the dominant players in the market. Fluoropolymers top 10 companies include:

  1. Daikin Industries Ltd.
  2. Solvay
  3. AGC
  4. Gujrat Fluorochemicals Ltd.
  5. 3M Company
  6. The Chemours Company
  7. Halopolymer
  8. Honeywell International Inc.
  9. Kureha Corporation
  10. Dupont

Acquisitions/Technology Launches

  • In March 2020, Inhance Technologies, launched a process to eliminate perfluoroalkyl substances (PFAS), including perfluorooctanoic acid (PFOA), from fluoropolymer resins. PFAS species are being identified in everyday consumer goods and are used widely in the fluoropolymers industry but nowadays raising concerns regarding their impact on human health and the environment.
  • In May 2021, Arkema plans to acquire Agiplast, a leader in the regeneration of high-performance polymers. The acquisition enables Arkema to offer a full service to customers in terms of materials circularity, addressing growing market expectations in this field. This acquisition will also help Arkema to fully integrate high performance polymer manufacturers offering both bio-based and recycled materials.

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1. Fluoropolymers Market- Market Overview
    1.1 Definitions and Scope
2. Fluoropolymers Market - Executive Summary
    2.1 Key Trends by Polymer Type
    2.2 Key Trends by Application
    2.3 Key Trends by End Use Industry
    2.4 Key Trends by Geography
3. Fluoropolymers Market – Comparative analysis
    3.1 Market Share Analysis- Major Companies
    3.2 Product Benchmarking- Major Companies
    3.3 Top 5 Financials Analysis
    3.4 Patent Analysis- Major Companies
    3.5 Pricing Analysis (ASPs will be provided)
4. Fluoropolymers Market - Startup companies Scenario Premium Premium
    4.1 startup company analysis:
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Product portfolio
        4.1.4 Venture Capital and Funding Scenario
5. Fluoropolymers Market – Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.1 New Business and Ease of Doing Business Index
    5.3 Successful Venture Profiles
    5.1 Customer Analysis – Major companies
6. Fluoropolymers Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porters Five Force Model
        6.3.1 Bargaining Power of Suppliers
        6.3.2 Bargaining Powers of Buyers
        6.3.3 Threat of New Entrants
        6.3.4 Competitive Rivalry
        6.3.5 Threat of Substitutes
7. Fluoropolymers Market – Strategic Analysis
    7.1 Value/Supply Chain Analysis
    7.2 Opportunity Analysis
    7.3 Product/Market Life Cycle
    7.4 Distributor Analysis – Major Companies
8. Fluoropolymers Market – By Polymer Type (Market Size -$Million/Billion)
    8.1 Xylan
    8.2 PTFE (PolyTetraFluoroEthylene)
    8.3 PCTFE (PolyChloro Tri Fluoro Ethylene)
    8.4 PVF (Polyvinyl Fluoride)
    8.5 PVDF (Poly Vinylidene Fluoride)
    8.6 FEP (FluoroEthylenePropylene)
    8.7 PPS (PolyPhenylene Sulphide)
    8.8 TFE (Tetrafluoroethylene)
    8.9 ETFE (Ethylene Tetra Fluoro Ethylene Copolymer)
    8.10 PFA (Per Fluoro Alkoxy)
    8.11 E-CTFE (EthyleneChloro Tri Fluoro Ethylene)
    8.12 Vinylidene fluoride (VF2)
    8.13 Hexafluoropropylene (HFP)
    8.15 Tetrafluoroethylene (TFE)
    8.16 Others
9. Fluoropolymers Market – By Application (Market Size -$Million/Billion)
    9.1 Sheets and Films
    9.2 Fuels and Lubricants
    9.3 Adhesives and Sealants
    9.4 Paints and Coatings
    9.5 Pipes and Tubing
    9.6 Membranes & Filtration
    9.7 Insulations
    9.8 Home Appliances
    9.9 Others
10. Fluoropolymers Market – By End Use Industry (Market Size -$Million/Billion)
    10.1 Building and Construction
        10.1.1 Residential Construction
        10.1.2 Commercial Construction
        10.1.3 Industrial Construction
        10.1.4 Infrastructure
    10.2 Oil & Gas Industries
    10.3 Food & Beverage Industry
    10.4 Automotive Industry
        10.4.1 Passenger Cars
        10.4.2 Light Commercial Vehicles (LCVs)
        10.4.3 Heavy Commercial Vehicles (HCVs)
    10.5 Medical and Healthcare
        10.5.1 Endoscopy
        10.5.2 Cannulas
        10.5.3 Drug delivery
        10.5.4 Protective covers
        10.5.5 Others
    10.6 Chemicals Industry
    10.7 Aerospace Industry
    10.8 Water and Wastewater Treatment
    10.9 Electrical and Electronic
        10.9.1 Wire & Cables
        10.9.2 Photovoltaic Modules
        10.9.3 Batteries
        10.9.4 Fuel Cells
        10.9.5 Semiconductors 
        10.9.6 Others 
    10.10 Telecommunications
    10.11 Energy and Power
        10.11.1 Wind
        10.11.2 Solar
    10.4 Others
11. Fluoropolymers Market - By Geography (Market Size -$Million/Billion)
    11.1 North America
        11.1.1 USA
        11.1.2 Canada
        11.1.3 Mexico
    11.2 South America
        11.2.1 Brazil
        11.2.2 Argentina
        11.2.3 Colombia
        11.2.4 Chile
        11.2.5 Rest of South America
    11.3 Europe
        11.3.1 UK
        11.3.2 Germany
        11.3.3 France
        11.3.4 Italy
        11.3.5 Netherlands
        11.3.6 Spain
        11.3.7 Russia
        11.3.8 Belgium
        11.3.9 Rest of Europe
    11.4 Asia-Pacific
        11.4.1 China
        11.4.2 Japan
        11.4.3 India
        11.4.4 South Korea
        11.4.5 Australia and New Zeeland
        11.4.6 Indonesia
        11.4.7 Taiwan
        11.4.8 Malaysia
        11.4.9 Rest of APAC
    11.5 Rest of the World
        11.5.1 Middle East
            11.5.1.1 Saudi Arabia
            11.5.1.2 UAE
            11.5.1.3 Israel
            11.5.1.4 Rest of the Middle East
        11.5.2 Africa
            11.5.2.1 South Africa
            11.5.2.2 Nigeria
            11.5.2.3 Rest of Africa
12. Fluoropolymers Market – Entropy
    12.1 New Product Launches
    12.2 M&As, Collaborations, JVs and Partnerships
13. Fluoropolymers Market – Industry / Segment Competition landscape Premium Premium
    13.1 Company Benchmarking Matrix – Major Companies
    13.2 Market Share at Global Level - Major companies
    13.3 Market Share by Key Region - Major companies
    13.4 Market Share by Key Country - Major companies
    13.5 Market Share by Key Application - Major companies
    13.6 Market Share by Key Product Type/Product category - Major companies
14. Fluoropolymers Market – Key Company List by Country Premium Premium
15. Fluoropolymers Market Company Analysis - Business Overview, Product Portfolio, Financials, and Developments
    15.1 Company 1
    15.2 Company 2
    15.3 Company 3
    15.4 Company 4
    15.5 Company 5
    15.6 Company 6
    15.7 Company 7
    15.8 Company 8
    15.9 Company 9
    15.10 Company 10 and more
"*Financials would be provided on a best efforts basis for private companies"