Global Fluoropolymer Materials Market- Type, Applications, Region, End use and Future Forecast to 2023
Fluoropolymer is characterized as a fluorocarbon-based polymer with various solid carbon-fluorine bonds. The chemical structure of fluoropolymers consists of polymer chains made up of fluorine atoms. Fluoropolymers can be defined as semi-crystalline, high-performance thermoplastics. The fluoropolymer family comprises a group of homopolymers and copolymers. Growth of the fluoropolymer materials market is expected to be driven by rising demand for fluoropolymer materials in the manufacture of semiconductors used in electrical appliances such as smartphones and computers.
Fluoropolymers
are extensively used in data communication, renewable energy, automotive,
electronics, aerospace, and building applications. The utility of
fluoropolymers arises from properties such as high temperature resistance,
outstanding chemical resistance, better toughness, outstanding electrical
properties, and low coefficient of friction. Fluoropolymers are also being used
in coatings for all-weather apparel and nonstick cookware since the past
decade. Fluoropolymers are widely used innumerous chemical plants and various
semiconductor parts as they are maintenance-free even under severe
circumstances and contribute to improving productivity. The excellent
performance of fluoropolymers in extreme environments and demanding
applications act as major drivers for the global fluoropolymer market. Concerns
regarding environmental effects and health hazards of fluoropolymers can act as
a limitation for the fluoropolymers market.
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Fluoropolymers
play a vital role in numerous services and products that are frequently used by
human beings in their day-to-day activities. Stringent regulatory environment
is expected to hamper development of the fluoropolymer market.
Perfluorooctanoic acid (PFOA), which is utilized as a raw material, is
considered to be carcinogenic by the USEPA. Usage in a wide range of household
products including furniture sprays and stain-resistant carpets is the main
source of PFOA contamination, which is anticipated to hamper the market growth
during the next few years.
Asia
Pacific is anticipated to be the fastest-growing market for fluoropolymers.
Demand for fluoropolymer materials in the region is estimated to be chiefly
driven by swift rise in consumption of fluoropolymers in India and China.
Development in the automotive, aerospace, and other transportation systems is
anticipated to drive the fluoropolymer market in Asia Pacific. Lightweight
materials are preferred in most industries due to the need for enhanced fuel
efficiency and lower emission. This, in turn, propels growth of the
fluoropolymers market in countries such as India, China, and Japan.
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Electronics
and electrical is the largest end-user industry of fluoropolymers, where they
are gradually being preferred for usage in cable and wire insulation,
jacketing, lithium-ion batteries, and semiconductor fabrication. Technological
development in the field of electronics, particularly in South Korea and
Taiwan, has led to increase in utilization of these materials to enable superior
tensile strength and high thermal stability.
Key
companies in the fluoropolymers market are largely focusing on these growing
economies for tapping their strong market potential. North America is another
dominant market for fluoropolymers, particularly due to significant demand from
the cable and wire industry in the U.S. Polytetrafluoroethylene (PTFE) is the
dominant fluoropolymer, accounting for more than half (by weight) of the
world’s fluoropolymer consumption. China is the world’s largest consumer of
PTFE, while the U.S. is the largest consumer of other fluoropolymers.
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Some of
the major companies operating in the global fluoropolymers market are Jinan 3F
Fluoro-Chemical Co. Ltd, AGC Chemicals Europe, Dyneon GmbH,3M,AGC Chemicals
Europe, Zhonghao Chenguang Research Institute of Chemical Industry, DuPont,
Solvay Solexis, Ltd.,Gujarat Fluorochemicals Ltd., Shanghai 3F,Fuxin Hengtong,
Honeywell International Inc., and DAIKIN INDUSTRIES, Ltd.
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