LONDON--(BUSINESS WIRE)--The fluorocarbon coating market size is poised to grow at a CAGR of nearly 10% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
Fluorocarbon coatings are widely used in automotive components to improve the operational life of the vehicle. Fluorocarbon coatings reduce corrosion, provide good resistance to various fluids, and resist chipping and flaking of vehicle components. Fluorocarbon coatings in the form of PTTE, PFA, and FEP are used to coat engine components to protect them from external elements. The growing demand for automobiles across the globe will drive the market’s growth during the forecast period.
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As per Technavio, the growing demand for medical devices will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will affect market growth over 2019-2023.
Fluorocarbon Coating Market: Growing Demand for Medical Devices
The medical devices industry prefers fluorocarbon coatings because of their favorable properties such as high-purity, excellent chemical inertness, and biocompatibility, among others. Fluorocarbon coatings such as PTFE, FEP, and PVDF are used in the manufacture of catheters, containment vessels, syringes, and surgical sutures. PVDF offers excellent dimensional and UV stability, better permeable resistance, and high tensile strength. The increasing use of medical devices such as tubes, pumps, catheters, and syringes, among others that require fluorocarbon coating, will boost the market’s growth during the forecast period.
“Factors such as the rise in fluoropolymer prices and capacity expansion by key manufacturers will have a significant impact on the growth of the fluorocarbon coating market value during the forecast period,” says a senior analyst at Technavio.
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Fluorocarbon Coating Market: Segmentation Analysis
This market research report segments the fluorocarbon coating market by type (PTFE, PVDF, FEP, FEVE, and others), technology (solvent-borne and waterborne), and geography (APAC, Europe, MEA, North America, and South America).
The APAC region led the market in 2018, followed by North America, Europe, MEA, and South America, respectively. The growth of the fluorocarbon coating market share in APAC can be attributed to factors such as the increasing demand from the textiles and automotive industry in the region.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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