Fluoropolymers Market Overview:
The Global Market for Fluoropolymers is anticipated to touch a revenue of USD 9,912.5 Mn by the end of 2023 due to rapid industrialization. The market is anticipated to expand at a flourishing CAGR of 5.34 % during the forecasted period (2018-2023). Fluoropolymers offer properties like mechanical insulation and electrical properties, chemical resistance, stress cracking, thermal resistance, and others and are used for applications like industrial films and coatings. Fluoropolymers are also used in construction, household applications and electrical and electronics.
Fluoropolymers demand is driven significantly due to growing demand from medical device coatings, and electronics. Although medical device and electronics are estimated to be smaller segments of overall market, growth of these market is expected to have significant impact on the global market. The growing demand of semiconductors in smart phone a personal computer is anticipated to further propel the overall market growth in near future.
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Fluoropolymers Market Key Players:
Fluoropolymers Market are Dow DuPont Inc. (U.S.), Solvay SA(Belgium), Asahi Glass Co, Ltd (Japan), 3M (U.S.), Daikin Industries, Ltd (Japan), Honeywell International Inc. (U.S.), Saint-Gobain S.A. (France), Arkema Group (France), The Chemours Company (U.S.), Kureha Corporation (Japan), W.L. Gore & Associates, Inc. (Japan), Zeus Industrial Products, Inc. (U.S), and Gujarat Fluorochemicals Ltd (India).
Fluoropolymers Market Segmentation:
The global market for fluoropolymers has been segmented based on application, type, end-user, and region.
Fluoropolymers Market is driven due to various application and end user industry. It is used in various applications such as coatings, paint, tubing, additive, film solutions, and others. Which are highly used in numerous industries such as automotive, aerospace, electronics, and others. In addition, growth of automotive and construction industry are the major industries for consumption of fluoropolymers. Furthermore, growing industry of electronics, and construction industry due to growing urbanization in various industry are adding the growth of fluoropolymers in forecasted period.
Fluoropolymers find usage in various end use industries such as electronics, aerospace, household, construction, pharmaceutical, automotive, others. The market is anticipated to witness significant growth on account of their superior properties such as weather durability, heat resistance among others coupled with excellent usage in numerous end use industries specifically in electrical & electronics, aerospace, automotive, and others. Based on type segment, PTFE is predicted to register strong growth followed by PVDF due to their excellent properties combined with rising use in end use industries across the globe. Among the end use industries segment, automotive is projected to register strong growth owing to increasing per capita disposable income along with rising production and sales of automobiles. In addition, growing construction sector in developing countries along with burgeoning need for high quality fluoropolymers is predicted to propel the growth of the market over the assessment period.
Fluoropolymers Market Regional Analysis:
The global market for fluoropolymer has been spanned across Europe, North America, Latin America, Asia Pacific, and the Middle East and Africa.
Asia Pacific is anticipated to hold the largest market share and is estimated to expand at 7.29 % CAGR over the forecast period. China is leading the regional market with a revenue of USD 776.1 million in 2016. The Indian fluoropolymer market is estimated to be the second largest market over the assessment period. With the growing per capita disposable income in this region, the market is sure to expand. Also, the adoption of specialty fluoropolymer in the healthcare industry for the production of various medical devices is expected to spur the market growth during the assessment period.
The North American market is predicted to hold a market share of 86.8 kilotons touch revenue of USD 2,193.8 million by the end of 2023 owing to the extensive application in the healthcare sector especially in pharmaceutical packaging, medical devices, and delivery of drugs. While the Canadian market is estimated to showcase 6 % CAGR, the U.S. market is anticipated to expand at the highest CAGR of 6.50 %. With the growing investment in infrastructural development in Canada, for instance, the New Building Canada Fund, the market for fluoropolymers is expected to boom during the review period.
Fluoropolymers Market Table of Content:
1 Executive Summary
2 Scope of the Report
3 Market Research Methodology
4 Market Landscape
5 Industry Overview of Global Fluoropolymers Market
Fluoropolymers Market Table of Content to be Continue……,
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