Fluoropolymer Tubing Market worth $662 million by 2026 - Exclusive Report by MarketsandMarkets™
CHICAGO, Jan. 20, 2022 /PRNewswire/ -- According to the new market research report "Fluoropolymer Tubing Market by Material (PTFE, PVDF, FEP, PFA, ETFE) Application (Medical, Semiconductor, Energy, Oil & Gas, Aerospace, Automotive, Fluid Management, General Industrial) Form Factor, and Region - Global Forecast to 2026", published by MarketsandMarkets™, the global Fluoropolymer Tubing Market size is projected to grow from USD 513 million in 2021 to USD 662 million by 2026, at a CAGR of 5.2% between 2021 and 2026. Fluoropolymer tubes are extrusions made of inert materials. These tubes have exceptional versatility and a set of unique properties. Various types of fluoropolymer provide different advantages in the applications they are used in. Fluoropolymer tubes exhibit high tensile strength, exceptional chemical & friction resistance, and a high range of workable temperature, among other properties. They are used in industries such as medical, semiconductor, energy, fluid management, chemical processing, general industrial, automotive, and aerospace. Growing geriatric population, increasing use in end-use industries ultimately drives the fluoropolymer tubing market globally.
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The medical application segment is estimated to be the fastest-growing fluoropolymer tubing market during the forecast period.
The chemical inertness and flexibility provided by fluoropolymer tubing make it ideal for use in medical applications. Medical applications require the precise functionality of equipment. The rising demand for minimally invasive procedures and advanced diagnostic equipment and microcatheters is increasing the demand for fluoropolymer tubing in the medical industry. Advancements in medical technologies such as real-time data monitoring and analysis in diagnostic systems will drive the demand further.
The PTFE material segment is expected to lead the fluoropolymer tubing market during the forecast period.
PTFE is a high-performance fluoropolymer consisting of carbon and fluorine structures. It is produced through a free-radical polymerization mechanism in an aqueous media through the addition polymerization of tetrafluoroethylene (TFE) in a batch process. It is considered a reliable material for the transfer of critical fluids. PTFE fluoropolymer tubing is widely used due to its resistance to corrosive environments and aggressive chemicals.
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North America is expected to be the largest market for fluoropolymer tubing during the forecast period.
North America is a mature market for fluoropolymer tubing. North America accounted for the largest share of the global fluoropolymer tubing market in 2020, and it is projected to continue leading the market during the forecast period because of the focused interest of governments in healthcare expenditure, EV developments, and a large presence of fluoropolymer tubing manufacturers.
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Browse Adjacent Markets: Advanced Materials Market Research Reports & Consulting
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Fluoropolymer Films Market by Type (PTFE, PVDF, FEP, PFA, ETFE Films), Application (Electrical & Electronics, Industrial, Automotive & Aerospace, Medical & Pharmaceutical, Consumer Products), and Region - Global Forecast to 2022
https://www.marketsandmarkets.com/Market-Reports/fluoropolymer-film-market-208220440.html
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