Global Fluoropolymers Market Foreseen to Hit $11,924.6 Million, Growing at 5.9% CAGR from 2021 to 2028 Timeframe [170-Pages] | Confirmed by Research Dive
Rising demand for fluoropolymers in several manufacturing industries is fueling the global fluoropolymers market growth.
The COVID-19 pandemic has negatively impacted the market. The Asia-Pacific market is expected to observe extensive growth.
NEW YORK, June 3, 2022 /PRNewswire/ -- Research Dive has added a new report to its offering titled, "Fluoropolymers Market by Type (PTFE, FEP, PVDF, Fluoroelastomers, PVF, PFA, ETFE, and Others), Application (Film, Tube, Sheet, Pipe, Membrane, Sealant, Roofing, Additives, and Others), End-use Industry (Transportation Equipment, Electrical & Electronics, Construction, Industrial Equipment, and Others), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2021–2028".
The global fluoropolymers market is expected to garner $11,924.6 million by 2028, growing at a CAGR of 5.9% from 2021 to 2028. The report delivers comprehensive insights into the current condition and future prospective of the industry by precisely examining market drivers and restraints, opportunities, major segments, and regions.
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Key Segment Findings of the Market:
The fluoropolymers market is segmented based on type, application, end-use, and region.
- The PVDF sub-segment of the type segment is anticipated to observe utmost growth and collect a revenue of $1,883.7 million in the estimated period. This growth is mainly because of the surging demand for PVDF as it is greatly used as insulation material in electrical wires owing to its several properties such as low thermal conductivity, flexibility, low weight, high chemical corrosion resistance, and heat resistance.
- The film sub-segment of the application segment is anticipated to witness augmented growth by gathering $2,548.0 million in the estimated period. This growth of the fluoropolymers market sub-segment is mainly because of the increasing use of fluoropolymers in the films which play a significant role in the food packaging, aerospace, electronics, and pharmaceutical industries.
- The industrial equipment sub-segment of the end-use segment is anticipated to hold highest share of the market and surpass $4,933.4 million in the estimated period. This growth is mainly because of the rising demand for industrial manufacturing across the globe for developing advanced, high-performing materials that can tolerate chemically and thermally harsh environs.
- Among regions, the Asia-Pacific fluoropolymers market is projected to observe significant growth by surpassing $6,470.0 million in the estimated period. The growth of this region's market is mostly owing to the significant presence of huge manufacturing centers mainly in nations like India and China in this region.
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Market Dynamics
The key factor fueling the growth of the global fluoropolymers market is a significant rise in the demand for fluoropolymers in several industrial sectors owing to their properties such as greatly lubricant, highly biocompatible, and their various dielectric applications. In addition, increasing applications of fluoropolymers as a suitable and superior material in green technology applications is expected to open doors to innovative opportunities for market growth in the projected period. However, the implementation of strict government rules concerning carbon emissions is projected to hinder the market growth during the forecast period.
Impact of the COVID-19 Pandemic on the Market:
The COVID-19 pandemic has made a negative impact on the growth of the global fluoropolymers market in 2020. In the pandemic period, the supply chains have undergone massive disruptions. Also, the demand for fluoropolymers has greatly declined, owing to the sudden drop in industrial production of various products. However, market players are taking significant initiatives to recuperate the industry from losses during the pandemic period.
Top Players of the Industry
The major players in the global fluoropolymers industry are
- 3M (Dyneon GmbH)
- Daikin Industries Limited
- Chemours (DuPont)
- Asahi Glass Co. Ltd.
- Dongyue Group Ltd
- Halopolymer Ojsc
- Arkema SA
- Solvay SA
- Gujarat Fluorochemicals Ltd. (GFL)
- Honeywell International Inc.
Numerous business strategies, such as acquisitions, mergers, R&D activities, new product developments, and much more, are implemented by these players to attain a strong position in the global market. For instance, in March 2020, Inhance Technologies, a foremost international supplier of polymer materials science solutions, launched a process to eliminate perfluoroalkyl substances (PFAS), including perfluorooctanoic acid (PFOA), from fluoropolymer resins.
Moreover, the report offers other key details of leading players such as business tactics, financial performance, and product/service range of these players along with Porter's five forces analysis and SWOT analysis.
More about Fluoropolymers Market:
- Fluoropolymers: Their Applications and Related Concerns
- Investments Like That of Arkema S.A. on Increasing Production Capacities by 35% to Propel the Growth of the Global Fluoropolymers Market
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About Research Dive
Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With an unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.
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