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Fluoropolymers Market Overview
The global fluoropolymers market size is estimated to reach US$11.2 billion by 2027 and is growing at a CAGR of 5.4% from 2022 to 2027. Fluoropolymers
are actually a polymer with a carbon backbone and contain fluorine that forms
strong carbon–fluorine bonds. Fluoropolymers show high resistance to heat,
chemical reactions, corrosion and pressure cracking. Some of the emerging trends
in the fluoropolymers market include the growing application of fluoropolymers
in transportation, neoecology, electrical and electronics, and
telecommunications sectors. For instance, in the electronics industry fluoropolymers
such as polyvinylidene fluoride (PVDF) are used extensively owing to their durable,
low maintenance, and economical alternatives to exotic metals. There is a growing
demand for fluoropolymers in the medical industry as there is an increasing
preference among various membranes and grafts manufactured using biocompatible polytetrafluoroethylene
(PTFE) for cardiovascular, orthopedic, ophthalmic and dental procedures. Global
market growth in the fluoropolymers industry is also driven majorly by its
application in the chemical industry. The major growing demand for
fluoropolymers is noticed in the chemical industry for various applications including
pumps, heat exchanger coatings, autoclaves and others. This is due to the high
structural properties of fluoropolymers such as non-adhesive, low collision,
non-stick, high dielectric, and chemical resistant properties.
COVID-19 Impact
The COVID-19
impacted the fluoropolymers market, due to the lockdown implemented in almost
every sector all across the world. The automotive and aerospace industries got
impacted negatively as these industries count as the major customers of
fluoropolymers. In commercial aviation, companies are experiencing disruption
in production and slowing demand due to low workforce, restriction in traveling
and low demand for spare parts. Aircraft manufacturers are capital intensive by
nature, thus raising short-term concerns about cash flow and liquidity. The
decline in production affected the suppliers of material and these factors have
impacted the fluoropolymers demand. Whereas, the demand for fluoropolymers in
the medical industry has faced significant high growth, as there is a high
demand for testing and other health equipment due to the Pandemic.
Fluoropolymers are highly preferred in the medical industry because of their
properties such as dielectric, lubricity and biocompatibility. This in turn
will increase the growth of fluoropolymers market.
Report Coverage
The report: “Fluoropolymers
Market – Forecast (2022-2027)”, by IndustryARC, covers an in-depth analysis
of the following segments of the Fluoropolymers Industry.
By Polymer Type: PolyTetraFluoroEthylene
(PTFE), Perfluoro Alkoxy (PFA), Fluoroethylene Propylene (FEP), Ethylene
Tetrafluoroethylene Copolymer (ETFE), Ethylene Chlorotrifluoroethylene Copolymer
(ECTFE), Polychlorotrifluoroethylene (PCTFE), Poly Vinylidene Fluoride (PVDF),
and polyvinyl fluoride (PVF), and Others.
By Application: Sheets and
Films, Fuels and Lubricants, Adhesives and Sealants, Paints and Coatings, Pipes
and Tubing, Membranes & Filtration, Insulations, Home Appliances, and
Others.
By End-Use Industry:
Building and Construction (Residential Construction, Commercial Construction,
Industrial Construction, Infrastructure), Oil & Gas Industries, Food &
Beverage Industry, Automotive Industry (Passenger Cars, Light Commercial
Vehicles (LCVs), Heavy Commercial Vehicles (HCVs)), Medical and Healthcare
(Endoscopy, Cannulas, Drug delivery, Protective covers, Others), Chemicals
Industry, Aerospace Industry, Water and Wastewater Treatment, Electrical and
Electronics (Wire & Cables, Photovoltaic Modules, Batteries, Fuel Cells,
Semiconductors, Others), Telecommunications, Energy and Power (Wind, Solar) and
Others.
By Geography: North America
(USA, Canada, and Mexico), Europe (UK, Germany, France, Italy, Netherlands,
Spain, Russia, Belgium, and Rest of Europe), Asia-Pacific (China, Japan, India,
South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia, and Rest
of APAC), South America (Brazil, Argentina, Colombia, Chile, and Rest of South
America), Middle East (Saudi Arabia, UAE, Israel, Rest of the Middle East) and
Africa (South Africa, Nigeria, Rest of Africa)
Key Takeaways
- The tubes and pipes segment accounted for the highest market share as fluoropolymers pipes are used by various industries including automotive, petrochemicals, pharmaceuticals, and chemicals. Mostly polyvinylidene fluoride is used in piping and tubing applications because of its properties like thermal and chemical compatibility.
- Asia-Pacific is expected to have the fastest growth in the market, which is subjected to increasing demand for fluoropolymers products as there is an increase in construction hubs in China, India, Japan and others. For instance, there was a recent initiation of the Affordable Rental Housing Scheme (AHRC) scheme taken by the Indian Government to provide affordable accommodation to the migrant workers. Such schemes taken by the Government of India will drive the growth of residential construction in India. The demand in construction will promote the demand for automotive, consumer, and electronics products. Thus, there will be a growth in the demand for fluoropolymers in the Asia-Pacific Region.
Figure: Asia-Pacific Fluoropolymers Market Revenue, 2021-2027 (US$ Billion)
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Fluoropolymers Market Segment Analysis – By Type
The
polytetrafluoroethylene (PTFE) segment accounted for more than 40% of the
global market share in 2021 and is expected to grow at a CAGR of nearly 5% in
the forecast period. PTFE fluoropolymer is estimated to remain as the largest
segment both by value and volume and is seen to experience the highest growth
over the forecast period, because it absorbs ultraviolet electromagnetic
radiation and possesses some excellent dielectric and chemical resistance
properties. It is also capable to be used both at very high (up to 530 K) and
extremely low temperatures. These properties are used across a wide range of
applications such as semiconductors, automotive components, electrical
appliances, and non-stick frying pans. Additionally, PTFE’s cost has increased over
the years due to an increase in raw material prices which are used for fillers,
pigments, resins. For instance, Gujarat Fluorochemical Limited uses INOFLON
PTFE Resins which is an engineering plastic designed for high performance under
some of the most extreme conditions. They are known for their exceptional
chemical resistance, low coefficient of friction, outstanding weatherability,
dielectric strength, thermal stability, flame resistance, and a wide range of
service temperatures.
Polyvinylidene
fluoride (PVDF) is the second largest segment owing to its superior chemical
and mechanical properties, for which these are extensively used for wiring and
insulation. PVDF coatings are also
extensively used in the field of construction. For instance, Solvay, a major
player in the fluoropolymers market produces Solef PVDF which is a highly
non-reactive thermoplastic fluoropolymer that is inherently flame retardant. It
has properties like high degree of purity, electrochemical stability, and broad
chemical resistance at high temperatures. Protective coatings which are made
using Solef PVDF offer improved weathering properties and excellent UV
radiation resistance.
Fluoropolymers Market Segment Analysis – By Application
By application,
the pipes segment accounted for the highest market share of around 30% in 2021,
and is estimated to hold the highest share even during the forecast period.
Fluoropolymers pipes are mostly been used by petrochemicals, pharmaceuticals,
chemicals, and other industries involved in the handling of extremely volatile
and corrosive solvents and acids for their manufacturing needs. For instance,
Daikin, one of the major players in the fluoropolymers market; uses
fluoropolymers in making tubes and hoses. The tubes, pipes, hoses are used to
transfer aggressive fluids or gases in car engines or for chemical process
industry (CPI) have certain requirements for specific performances which only a
few materials can offer. To meet the demanding fuel line challenges of the
automotive segment and the safety needed by CPI, DAIKIN offers products such as
DAI-EL fluoroelastomers and NEOFLON fluoropolymers. The manufacturing processes
involving chemicals treatment, such as semicon or pharma are extremely
demanding regarding performance and productivity. The pipes and tubes used to
convey aggressive fluids are expected to limit contamination, increase release
rate and last as long as possible. DAI-EL and NEOFLON range are the best
options to offer tube manufacturers and their clients the opportunity to
increase productivity. Parts service life is extended, inducing less
replacement and maintenance. The low coefficient of friction of fluoropolymers
favors the fluid transfer. Because they are inert materials, they also reduce
the risk of process contamination.
Fluoropolymers Market Segment Analysis – By End-Use Industry
Medical Industry segment will be contributing the most in the market
share of fluoropolymers market as the healthcare and medical analytics market
is expected to register a CAGR of nearly 18% over the forecast period. In the
rush to contain COVID-19, market players are rapidly developing artificial
intelligence and data analytics in healthcare, paving the way for the future of
the technologies. A number of foundational shifts are arising from and being
exacerbated by COVID-19’s spread. Examples include consumers’ increasing
involvement in health care decision-making; the rapid adoption of virtual
health and other digital innovations. Analytical devices and monitoring
machines contain components with polytetrafluoroethylene (PTFE) coating which
prevents the growth of harmful microorganisms and friction between the
components. Fluoropolymers show some
unique properties like they facilitate non-invasive surgical procedures, less
frequent clogging, reduced risk of cross-infections and others which enable
them to have excellent performance and long lifetime in medical equipment such
as surgically implantable medical devices, catheters, guide wires, filters and
pumps. This reduces the need for replacements, risk of failure,
cross-infections and clogging of medical equipment, thereby contributing to the
reduction and avoidance of medical complications, the associated pain and
public cost.
Chemical and petrochemicals
industry also held a significant share in the market because industries such as
automotive industry and others demand for intermediate inputs from the chemical
industry. Fluoropolymers help create non-stick surfaces in applications that
require temperature resistance. They’re used in lined pipes, valves, pumps,
tank and reactor linings, gaskets and seals. They’re crucial to the safety of
workers and the public, as they keep all kinds of equipment and chemical
systems secured.
Fluoropolymers Market Segment Analysis – By Geography
By geography, Asia-Pacific is seen to emerge as the fastest growing
market, subjected to which there will be an increase in demand for
fluoropolymers products. The reason being, there are large building and
construction hubs in China and India which in turn drive the Asia-Pacific
fluoropolymers market. This on the other hand will increase the demand for
high-quality medical, automotive, consumer, and electronics products. For instance, India witnessed the fastest growth
rate in the construction activity in nearly eight years in 2021. GDP from Construction
in India increased to US$43 billion in the first quarter of 2021 from US$37
billion in the fourth quarter of 2020. Fluoropolymers play a huge role in the
construction sector as they provide durable, thermally stable, easy-to-clean
building materials which can both reduce building cooling costs and energy use,
while enabling landmark architectural designs not feasible with other
materials. Some well-known examples include the Mercedes Benz Stadium in Atlanta,
GA, and the Denver Airport’s fiberglass roof.
There is also a huge scope in fluoropolymer film market specifically in
Japan, owing to huge opportunities in electrical and electronics, construction,
packaging, transportation, and industrial sector.
Fluoropolymers Market rivers
Increasing medical and healthcare segment is driving the demand for fluoropolymers market
An increase in medical and healthcare segment due to the pandemic is
considered to be the major driver in the fluoropolymers market. Increased emphasis on health and hygiene to
avoid potential COVID-19 contagion has bolstered sales of various hospital
disposables. In addition, governments and health authorities are leveraging
federal powers to influence manufacturers to ramp up production of hospital
disposables at significant pace. Compared to other sectors, pharmaceutical
firms are estimated to be highly growing by developing innovative products, and
as a result investing considerably in R&D activities. There is an abundant
increase in the launch of new products, such as development of vaccines in the
pandemic time. Therefore, the manufacturers and distributors of fluoropolymers
will have to look at existing systems and devise ways to step up these systems
for bigger margins.
Growing demand of PTFE polymer
Polytetrafluoroethylene
(PTFE) will also grow more in the forecast year as it is extensively utilized
in almost all sectors like semiconductors, automotive components, electrical
appliances and others. PTFE is also used for improving the overall functioning
and minimizing the downtime of industrial machines and automotive components.
It is also used in construction segment which includes gaskets, vessel linings,
pump interiors, rings, seals and well-drilling equipment. PTFE finds applications
in the oil and gas exploratory activities, owing to its high resistance to
harsh chemicals, acids and caustic.
Fluoropolymers Market Challenges
Rising environmental concerns
The biggest challenge faced by the fluoropolymers industry is the stringent regulations imposed by the government, both on manufacture and use of fluoropolymers. The reason is that if fluoropolymers are melted over the melting point, then it releases toxic gases which hampers the environment. This in turn hampers the market growth. Fluoropolymers can produce toxic products if they are overheated. Precautions should be taken to remove any degradation products and off-gases produced during the processing and fabrication of parts from fluoropolymers.
Fluoropolymers Market Landscape
Technology
launches, acquisitions and R&D activities are key strategies which are
adopted by the dominant players in the market. Fluoropolymers
top 10 companies include:
- Daikin Industries Ltd.
- Solvay
- AGC
- Gujrat Fluorochemicals Ltd.
- 3M Company
- The Chemours Company
- Halopolymer
- Honeywell International Inc.
- Kureha Corporation
- Dupont
Acquisitions/Technology Launches
- In March 2020, Inhance Technologies, launched a process to eliminate perfluoroalkyl substances (PFAS), including perfluorooctanoic acid (PFOA), from fluoropolymer resins. PFAS species are being identified in everyday consumer goods and are used widely in the fluoropolymers industry but nowadays raising concerns regarding their impact on human health and the environment.
- In May 2021, Arkema plans to acquire Agiplast, a leader in the regeneration of high-performance polymers. The acquisition enables Arkema to offer a full service to customers in terms of materials circularity, addressing growing market expectations in this field. This acquisition will also help Arkema to fully integrate high performance polymer manufacturers offering both bio-based and recycled materials.
Relevant Reports
High Performance Fluoropolymers Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth and Forecast 2021 - 2026
Report Code: CMR 33205
Fluoropolymers Coatings
Market – Forecast (2021 - 2026)
Report Code: CMR 0071
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