The global fluoropolymers market generated $7.66 billion in 2019, and is estimated to reach $11.70 billion by 2027, registering a CAGR of 6.5% from 2020 to 2027. The report offers an extensive analysis of changing market dynamics, key winning strategies, business performance, major segments, and competitive scenarios.
Growing demand for fluoropolymer from automotive and aerospace industries drives the growth of the global fluoropolymers market. However, surge in price of Polytetrafluoroethylene (PTFE) restrains the market growth. Furthermore, rise in usage of fluoropolymer films in the construction and energy sectors is expected to provide new growth opportunities for the market players in near future.
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- Fluoropolymers manufacturing companies have been affected to a larger extent due to disrupted supply of raw material during Covid-19 outbreak.
- Most of the aircraft manufacturing firms worldwide have reduced their aircraft production amid shutdown. This affected the demand for fluoropolymers during the Covid-19 pandemic.
- Likewise, the production losses of motor vehicles due to factory shutdowns has further declined the demand for fluoropolymers
The report offers a detailed segmentation of the global fluoropolymers market based on product type, application, end-user industry, and region.
Based on product type, the PTFE segment contributed to the largest share in 2019, accounting for more than half of the total share, and is estimated to maintain its dominant position during the forecast period. However, the PVDF segment is estimated to portray the highest CAGR of 7.2% during the forecast period.
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Based on application, the pipe segment accounted for the largest share in 2019, holding more than one-fourth of the total share, and is expected to maintain the largest share throughout the forecast period. Furthermore, the same segment is expected to register the highest CAGR of 3.3% from 2020 to 2027.
Based on region, Asia-pacific contributed the highest share, accounting for more than half of the total market share in 2019, and will maintain its dominance throughout the forecast period. In addition, it is expected to grow at the highest CAGR of 6.6% from 2020 to 2027.
Leading market players analyzed in the research include Asahi Glass Company Limited, Arkema SA, Daikin Industries, The Chemours Company, Dupont, Dongue Group, Mitsubishi Chemical, Honeywell, Saint-Gobain, and SABIC Innovative Plastics.
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