A polymer that contains atoms of fluorine is called as a fluoropolymer. The fluoropolymer is commonly referred to as fluorine polymer. Fluoropolymers exhibit excellent chemicals properties such as high resistance to solvents, acids, and bases. Fluoropolymers exhibit the low coefficient of friction compared with other polymers, they are inert substances and can withstand high temperatures. They are usually applied to manufactured metal parts by electrostatic powder coating, or attached to large sheets with epoxy to line the interior of large metal and non-metal containers. Some of the fluoropolymers are thermosets while others are thermoplastics. Fluoropolymers are widely used in numerous applications in the host of industries owing to their excellent properties such as non-adhesive, low friction, chemical and weather resistance, etc.
According to the report, the global fluoropolymers market was valued at approximately USD 6.50 billion in 2014 and is expected to reach approximately USD 10.50 billion by 2020, growing at a CAGR of around 7.5% between 2015 and 2020. In terms of volume, global fluoropolymers market stood at around 650-kilo tons in 2014. Zion Market Research has published a new report titled “Fluoropolymers (Polytetrafluoroethylene (PTFE), Polyvinylidene Difluoride (PVDF), Fluorinated Ethylene Propylene (FEP) and Fluoroelastomers) Market for Automotive, Electrical & Electronics, Construction and Industrial Equipment Applications: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2014 – 2020”.
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Strong demand from various end-user industries has resulted into the strong demand for fluoropolymers across the world. Automotive, PV films, semiconductors, and electronic appliances are some of the major end-user industries for fluoropolymers. Automotive and electronics industry in Asia Pacific is projected to exhibit strong growth in the years to come. This, in turn, is expected to boost the demand for fluoropolymers. Moreover, rapidly increasing demand for energy and environmental concerns associated with the use of conventional sources of energy has resulted in growing demand for solar energy. Looking into this, PV installations are expected to witness the surge in demand during the forecast period. Fluoropolymers are widely used in making PV films. This in turn expected to be a give a major thrust to fluoropolymers market. However, fluctuations in raw material prices and supply are expected to remain a major concern for the manufacturers.
Based on product type, fluoropolymers market can be segmented as polytetrafluoroethylene (PTFE), polyvinylidene difluoride (PVDF), fluorinated ethylene propylene (FEP) and fluoroelastomers. Polytetrafluoroethylene was the largest product segment, which accounted for over 60% share of the total fluoropolymers volume consumed in 2014. Polyvinylidene difluoride (PVDF) was the second largest producer and expected to exhibit significant growth rate during the forecast period. Moreover, demand for fluorinated ethylene propylene (FEP) and fluoroelastomers product segment is also anticipated to grow at rapid pace in the year to come.
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On the basis of application, the fluoropolymers market has been segmented into automotive, electrical & electronics, construction, and industrial equipment. Industrial equipment was the largest application market with over 30% share in the total fluoropolymers volume consumed in 2014. Construction is one of the leading application segments in 2014 and is expected to exhibit fastest CAGR over the forecast period. Automotive sector also accounted for significant share of the global fluoropolymers market.
Asia-Pacific is one of the largest and fastest growing regional markets for fluoropolymers. Asia Pacific accounted for over 30% share of the total volume consumed in 2014. The growth of the Asia Pacific can be mainly attributed to the strong growth prospects of key end application markets for the fluoropolymers in the region. North America was the second largest market for fluoropolymers in 2014. In terms of volume, Latin America and Middle East & Africa is expected to witness robust growth during the forecast period.
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Some of the key players in the global fluoropolymers market are DuPont, DAIKIN INDUSTRIES, Ltd., AGC Chemicals Europe, Ltd., Dyneon GmbH, Solvay Solexis, 3M, AGC Chemicals Europe, Ltd., Gujarat Fluorochemicals Ltd., Shanghai 3F, Fuxin Hengtong, Zhonghao Chenguang Research Institute of Chemical Industry, Honeywell International Inc., and Jinan 3F Fluoro-Chemical Co. Ltd.