High demand for fluoropolymers and advancements in medical applications have boosted the growth of the global fluoropolymers market. However, raising prices of PTFE hamper the market. On the contrary, surge in use of fluoropolymer films in the construction and energy sectors is expected to open lucrative opportunities for the market players in the future.
A complete and wide-ranging evaluation of the aspects that drive and restrain the market growth is also provided throughout the study. This detailed exploration of the market size and its proper segmentation help the market players define the prevalent opportunities that are looming large.
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According to the report, the global fluoropolymers industry generated $7.7 billion in 2019, and is expected to reach $11.7 billion by 2027, growing at a CAGR of 6.5% from 2020 to 2027.
The report helps clients in comprehending the first-hand knowledge of the global market while providing a full-fledged understanding of the regional-level analysis of each segment. At the same time, the study contain in-depth information of the frontrunners that are active in the industry along with their financial agenda, segmental profits, company trends, services/products offerings, and major adopted stratagems.
By region, the market across Asia-Pacific held the largest share with nearly half of total market share and is expected to manifest the highest CAGR of 6.6% during the forecast period, due to presence of large manufacturing hubs in China and India and increasing demand for high-quality medical, automotive, consumer, and electronics products. The global fluoropolymers market across North America is estimated to register a CAGR of 6.5% from 2020 to 2027.
The Fluoropolymers market report keeps a perfect tab on the market share of several companies, recent market trends, revenue forecast, and new product launches across the market. The report includes company profiles that delineate the revenue share of the top competitors in the market. Simultaneously, the report provides revenue forecasts for four regions and more than twenty major countries across Asia-Pacific, LAMEA. North America and Europe.
By application, the pipe segment held the lion’s share in 2019, accounting for more than one-fourth of the global fluoropolymers market. Moreover, the segment is expected to register the highest CAGR of 3.3% during the forecast period as fluoropolymers pipes are commonly used by petrochemicals, pharmaceuticals, chemicals, and almost every business involved in the handling of extremely volatile and corrosive solvents and acids for their manufacturing needs.
Fluoropolymers Covered Market:- Arkema SA, The Chemours Company, Asahi Glass Company Limited, Dongue Group, Daikin Industries, Honeywell, Dupont, SABIC, Innovative Plastics, Mitsubishi Chemical. and Other.
Analysis of COVID-19 impact
The outbreak of the pandemic has had a massive impact on the majority of industries and the Fluoropolymers market was also not an exception in this regard. The report provides a detailed study on the micro- and macro-economic impact during the pandemic. Additionally, it emphasizes the direct impact of the COVID-19 pandemic on the Fluoropolymers market in the form of qualitative study. The report offers explicit details regarding the market extent and shares during this unprecedented time. At the same time, the major strategies adopted by the market players to combat the global crisis is also covered under the report. Last but not the least, the report highlights how the pandemic has distorted the supply chain of the market and takes in a post-COVID-19 analysis too.
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