Sarasota, FL, Jan. 04, 2017 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Fluoropolymer Market by Types (PTFE, PVDF, FEP, and Fluoroelastomers), for Automotive & Transportation, Electrical & Electronics, Chemical Processing, and Industrial Equipment Applications – Global Industry Perspective, Comprehensive Analysis and Forecast 2016 - 2022”. According to the report, global fluoropolymer market was valued at USD 7.39 billion in 2016, is expected to reach USD 10.49 billion in 2021 and is anticipated to grow at a CAGR of 6.0 % between 2017 and 2022.
Fluoropolymers are polymers that have several strong carbon-fluorine bonds. Fluoropolymers possess many unique properties such as chemical resistant and mechanical and electrical insulation. These properties make fluoropolymers attractive as highly durable protective coatings in many different architectural coating formulations, particularly those intended for exterior applications due to the need for excellent weather ability. Fluoropolymers are very popular in industrial processing industries owing to their chemical and oil resistant properties.
Browse through 13 Market Tables and 24 Figures spread through 110 Pages and in-depth TOC on “Global Fluoropolymer Market: By Type, Application, Industry Size, Share, Analysis, Segment and Forecast 2016-2022”.
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The global fluoropolymer market is expected to grow at a steady rate within the forecast period. The unique properties of fluoropolymers are one of the major factors driving this market growth. Furthermore, wide service temperature range, high melting point, high crystallinity, weather ability, and reflectivity to intense UV rays can be achieved using fluoropolymers over conventional polymers. Fluoropolymers are also utilized in miniaturization of circuit boards and electronics because of their dielectric property. Moreover, fluoropolymers have wide applications in aircraft bearings and seals, high capacity automotive, and coatings of kitchenware as they have low friction and non-stick properties. They can be used in various industries leading to their augmented adoption in the forecast period.
On the basis of application, the global fluoropolymer market is segmented into automotive & transportation, electrical & electronics, chemical processing, and industrial equipment applications. Industrial equipment segment accounted for the largest market share of around 28% of the global market share for fluoropolymers in 2016. The electrical & electronics was the second-largest application segment and is expected to grow at fast pace in the forecast period. Furthermore, the scope of another application segment for fluoropolymers is expected to expand in the near future owing to increasing usage of fluoropolymers in emerging applications such as waterproof clothing, non-stick cookware, and dental filling.
Browse the full "Fluoropolymer Market by Types (PTFE, PVDF, FEP, and Fluoroelastomers), for Automotive & Transportation, Electrical & Electronics, Chemical Processing, and Industrial Equipment Applications – Global Industry Perspective, Comprehensive Analysis and Forecast 2016 - 2022" report at https://www.zionmarketresearch.com/report/fluoropolymer-market
On the basis of product segment, PTFE market dominated the global fluoropolymers industry accounting for around 60% of overall volume in 2016. Enhanced wear resistance and chemical stability are key properties of PTFE to use in the manufacturing of gaskets, linings, washers, pump interiors, seals, and spacers for industrial applications.
North America region is expected to show a moderate growth in future owing to its economic advancement and huge demand from a wide range of industries such as electrical and electronics and automobiles. U.S. dominated the North America fluoropolymers market followed by Canada and Mexico, accounting for a significant share in overall consumption in 2016. Recently, U.S. witnessed a strong demand for fluoropolymers and this trend is expected to continue in the coming years. The rise in environmental concerns may hamper the Fluoropolymers manufacturers in this region. The emergence of Mexico as an automotive hub coupled with rising demand for PVDF as a piezoelectric material in electrical insulation is expected to witness positive market growth in the near future.
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European consumption of fluoropolymers is expected to grow at the slower pace within forecast period compared to other regions. In 2016, Germany dominated the Europe fluoropolymers market owing to its fast pace of economic advancement and huge demand from a wide range of industries such as automobiles. The UK remained second largest fluoropolymers consuming regions in Europe.
Asia pacific held the largest share of the global fluoropolymers market in 2016. High growth in GDP coupled with the increase in manufacturing activities has boosted the fluoropolymers market in the region. China was the world’s leading producer of PTFE in 2016 accounting for around 53% share of world fluoropolymers production. China consumption of PTFE is expected to grow at a fast pace during 2015–2021. The country is estimated to become the most important market in terms of future growth, both in terms of volume and revenue.
Latin America shows promising growth in fluoropolymers market due to increasing industrialization in the region. The Middle East & Africa are expected to witness the decent growth in fluoropolymers market within the forecast period. Lucrative construction segment growth in African countries such as South Africa and Nigeria owing to regulatory support from government to improve infrastructure as well as positive mining industry outlook is expected to fuel the market in the near future.
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The participant in the market face intense competition as their products are similar and they supply to the same target end users. Limited no. of product type further intensifies the competition in the market. The companies are mainly focusing on the production of differentiated products than competitors. Prominent vendors in the market include Daikin Industries Limited, E.I. Dupont DE Nemours & Company, Solvay SA, Asahi Glass Co. Ltd., Arkema SA, 3M Company, Dongyue Group Ltd, Gujarat Fluorochemicals Ltd. (GFL), Halopolymer Ojsc, Honeywell International Inc., Kureha Corporation, and Saint-Gobain.
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The report segments the global fluoropolymers market as
Global Fluoropolymers Market: Product Analysis
- Polytetrafluoroethylene (PTFE)
- Polyvinylidene fluoride (PVDF)
- Fluorinated ethylene propylene (FEP)
- Fluoroelastomers
Global Fluoropolymers Market: Application Analysis
- Automotive & Transportation
- Electrical & Electronics
- Chemical Processing
- Industrial Equipment
Global Fluoropolymers Market: Regional Segment Analysis
- North America
- Europe
- Asia Pacific
- Latin America
- The Middle East and Africa
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