The global fluoropolymer films market is projected to enter a period of dynamic expansion on account of rising demand for fluoropolymer coatings in the automotive industry, states Fortune Business Insights™ in its report, titled “Fluoropolymer Films Market Size, Share & Industry Analysis, By Type (Polytetrafluoroethylene films, Poly vinylidenefluoride films, Fluorinated ethylenepropylene films, Perfluoroalkoxy polymer films, Ethylene tetrafluoroethylene films, Others), By End-Use Industry (Automotive & Transportation, Medical, Electrical & Electronics,Construction, Others) and Regional Forecast, 2019-2026”. Carmakers are constantly taking efforts to enhance the value of their product. One of the key elements in upholding the value of a vehicle is through building internal components that can withstand high temperatures, corrosion, and have a long shelf-life. As a result, auto manufacturers extensively utilize fluoropolymer films. For example, many vehicle manufacturers use these materials to coat tank valves, sensors, seals, and hoses in a car’s fuel system. Similar protection is provided for powertrains, wherein components such as valve stem seals, piston rings, and internal shift seal rings are glazed with fluoropolymer solutions. Thus, increasing adoption of these films in the automobile sector is expected to fuel the market growth in the coming years.
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List of Players Covered in the Fluoropolymer Films Market Report:
Chukoh Chemical Industries, LTD.
Textiles Coated International (TCI)
Daikin Industries Ltd.
The Chemours Company
Browse Complete Report Summary:
Increasing Plastic & Chemical Pollution Worldwide May Hinder Market Growth
One of the main hindrances obstructing the fluoropolymer films market growth is the increasing levels of plastic and chemical pollution across the globe. According to the UK-based marine conservation group, Surfers Against Sewage, global plastic waste is set to reach 640 million tons by 2034, with 8 million pieces of plastic finding their way into the oceans on a daily basis. Not only are fluoropolymer films and other synthetic plastics harming marine ecosystems, they are also detrimental for human health. The International Agency for Research on Cancer (IARC), part of the WHO, has deemed perfluorooctanoic acid (PFOA) as a possible carcinogen. Citing the consequences of this chemical on humans, UN experts are recommending that it should be added to the Stockholm Convention on Persistent Organic Pollutants. Global movement towards reducing plastic pollution may, therefore, hamper the growth of this market in the long run.
Evolving Electronics Industry in Asia Pacific to Propel the Market
Among regions, Asia Pacific is expected to dominate the fluoropolymer films market share in the near future on account of rapid transformations in the regional electrical & electronics industry. China is leading the regional market as it has grown into a hub of consumer electronics and other electrical equipment. In North America and Europe, the market is anticipated to perform impressively owing to escalating demand for synthetic polymers from the pharmaceutical industry. This demand is expected to surge as the COVID-19 pandemic continues it rampage across these regions. In the Middle East & Africa, the market growth will be premised on the increasing adoption of fluoropolymer films in the automotive and electronics industries.