This research report titled ‘Global Fluoropolymer Market 2016-2020’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. To arrive at the market size, the report estimated the market size by considering the sales volume of fluoropolymer products in end-user industries such as automotive and transportation, industrial applications, electricals and electronics, construction, and others.
Currently, APAC is the largest producer and consumer of fluoropolymer products. The region is the largest market for PTFE, the largest fluoropolymer product type, accounting for around 40% of the global market share by revenue. Further, the availability of raw materials (fluorspar, ethylene, and fluorocarbon) at lower prices and availability of skilled labor, land, and industrial equipment has made the region a target destination for manufacturing fluoropolymers.
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Technavio’s chemicals and materials analysts categorize the global fluoropolymer market into five major segments by application. They are:
- Automotive and transportation
- Electrical and electronic
The top three application segments for the global fluoropolymer market are:
Global fluoropolymer market in industrial applications segment
The industrial applications segment (chemical processing and industrial equipment) accounted for 31% of the market share in 2015. Fluoropolymers are used in flue gas heat exchangers, filtration membranes, industrial coatings and chemical processing equipment.
According to Swapnil Tejveer Sharma, a lead plastics, polymers, and elastomers analyst from Technavio, “North America is the largest market for fluoropolymers in industrial applications followed by APAC. This is attributable to the presence of processing and industrial equipment manufacturing industries in the region.”
Food and beverage, chemical and petrochemical, paper and pulp, labware, and plastic manufacturing industries are the prominent end users that employ fluoropolymers for processing. These polymers are mostly used in industrial applications to provide thermal, chemical, and corrosion resistance.
Global fluoropolymer market in automotive and transportation segment
The automotive and transportation segment accounted for 25% of the global market share in 2015. Fluoropolymers are used in the manufacture of automotive components such as power train, fuel systems, exhaust systems, transmission, chassis, and wires and cables.
The automotive fuel and engine systems are known for the extremes of heat, aggressive chemicals, a mixture of fuels, and high-frequency vibrations. The superior mechanical properties of fluoropolymers make them suitable for use in automobiles. The applications are in quick connect O-rings, shaft seals, valve stem seals, shock absorber seals, injection fuel seals, cylinder head gaskets, fuel hose, cable insulation, and power cables for electric motors.
PTFE and e-PTFE are the fluoropolymer products that are used significantly in automobiles. APAC is the largest market for fluoropolymers. China, Japan, South Korea, and India are the leading countries in the region. The region was followed by Europe due to the presence of automakers and original equipment manufacturers in Germany, France, the UK, and Italy.
Global fluoropolymer market in electricals and electronics segment
The electricals and electronics segment accounted for 23% of the global market share in 2015. Fluoropolymers are used significantly for manufacturing semiconductors, electrical cables and wires, and electronic circuit boards. The other applications of fluoropolymers in this industry are in manufacturing tubing, piping, valves, pumps, water handling equipment, tank linings, films, seals, and gaskets. The semiconductor industry is the largest user of fluoropolymers.
“APAC is the largest market in terms of consumption of fluoropolymers in the electricals and electronics segment. Taiwan, China, South Korea, and Japan are the prominent consumers of fluoropolymers. The region is followed by North America and Europe; the US, Mexico, Norway, the UK, Sweden, and France are the notable consumers in these regions,” adds Swapnil.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Asahi Glass
- Daikin Industries
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