Fluoropolymers are fluorocarbon-based polymers with a lot of carbon-fluorine bonds, known for their high resistance to solvents, acids, and bases. According to Blue Quark Research & Consulting, the global Fluoropolymers market is expected to witness a significant growth rate during the forecast period. Factors such as its growing demand in the industrial processing, automotive, aerospace, electrical, and medical industry due to its efficient thermal and chemical resistance, are driving the Global Fluoropolymers Market. Furthermore, the transportation and electronics industry widely uses High-performance Fluoropolymers over other polymers due to their satisfying durable performances. These industries are growing swiftly, thus growing the Global Fluoropolymers Market. However, the high cost of producing the high-performance Fluoropolymers and the availability of some cheap plastics as substitutes can restrain the Global Fluoropolymers Market.
Fluoropolymers are used to manufacture a wide range of products such as wires & cables, seals, liners, mechanical parts, gaskets, films, coatings, membranes, tubes. It serves various end-users like Automotive, Aerospace, Biotechnology, electricals, electronics, and Building & Construction.
The Automotive and Aerospace industries are the most dominant consumer of Fluoropolymers globally and are expected to drive the future market.One of the many aspects, i.e., vehicles, Fluoropolymers play a crucial role in fuel systems and are ideal to be used for fuel hose and other parts to protect against warm vapors by providing thermal and chemical resistance. And they are also used as sealing materials against high temperatures in the transmission of fuel in a vehicle. Owing to the swift urbanization in emerging countries like India and China, the sales of commercial vehicles such as trucks, tractors, and trailers are on the surge. Furthermore, the automotive industry is experiencing rapid growth in the electric vehicle market. Fluoropolymers are widely used for electric vehicle systems for cabling and wiring insulations. Here, the temperature resistance property of fluoropolymers plays a crucial role as the wires and cables come in contact with higher temperatures. The environmental awareness amongst citizens coupled with the government offering subsidies on its purchase of electric vehicles further propels the fluoropolymer industry. Fluoropolymers have also become an essential material for manufacturing components of spaceships and rockets due to their high temperature and pressure endurance. Companies operating in space have also seen a very swift development over the last decade thus, increasing the demand for fluoropolymers in the industry. Since fluoropolymers are extensively used to make valves and seals, they have a wide range of applications in the oil and gas industry for making well control equipment.
Major global players in the industry wereDuPont,Solvay Chemicals,BASF, Dyneon, Fluorotherm, 3M, AGC, Daikin Industries, Hindustan Fluorocarbons Limited, Halopolymer, among others.
Asia-Pacific is the most dominating region in demand and supply of Fluoropolymers in the forecasted year. Owing to the growing population in the region, the demand for automotive vehicles increases fluoropolymers demand. With the swift industrialization in the region, the demand for heavy-duty vehicles for commercial purposes also increases, resulting in the growth of the Fluoropolymers market. Since China's growth rate had been magnificent in the last decades, the upcoming decade is also expected to witness the same growth, making China a leader in fluoropolymers demand and consumption. Further, China has the most notable automotive industry and is expected to consolidate its position as a prime Fluoropolymers market. China and India, the most dominating countries of the Fluoropolymers market, were among the worst-hit countries by Corona Virus disease. Therefore, the automobile industry sales witnessed a drop of 11 % from 2019 to 2020, affecting the Fluoropolymers market in the region. Due to lubricity, biocompatibility, and dielectric properties, fluoropolymers are of keen interest to the medical industry as they can be used in surgeries and procedures. However, the role of fluoropolymers is not that limited in the industry as they can be used in syringes, catheters, and bio-containment vessels due to their high resistance to chemicals and heat. Every country is running the vaccination drives after being hit by the COVID-19, ultimately increasing the demand for syringes and bio-containment vessels. Most of the demand for syringes and vaccines in the world is fulfilled by the countries like China and India, thus increasing the Fluoropolymers market in the region.
Recently, new fluoropolymer membrane operations have become quite popular, like membrane crystallization, membrane contraction, membrane distillation, membrane emulsification.
Humans are taking very bold steps to explore Mars, keeping all their eyes on the skies for the past few months. This is a crucial opportunity to put the fluoropolymer products to the ultimate test. Tubing rods, monofilaments, and heat exchangers are being subjected to extreme cold and heat of the space.
Global Fluoropolymers Market report provides deep insight into the Industrial market's current and future state across various regions. The study comprehensively analyses the Fluoropolymers market by segmenting based on the Form (Granular, Micro-powder, Fine powder), End-User Industry (Aerospace, Automotive, Electrical & Electronics, Pharmaceutical & Biotechnology, Building and Construction, Others), Applications (Water treatment, Semiconductors, Power Plants, others), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The report examines the market drivers and restraints and the impact of Covid-19 on the market growth in detail. The study covers and includes emerging market trends, developments, opportunities, and challenges in the industry. The report also covers extensively researched competitive landscape sections with prominent companies and profiles, including their market shares and projects.