Hyderabad, India, Jan. 25, 2023 (GLOBE NEWSWIRE) -- The need for high-performance coatings such as FEVE Fluoropolymers has increased as a result of rising investments in the building sector, the expansion of the electric vehicle industry, and the rise in solar industry applications. The increasing usage of high-performance coatings and the growing manufacturing sector across the world are expected to drive the growth of FEVE Fluoropolymer coatings at a CAGR of 6.26% during 2022-2027.
Due to the extensive use of fluoropolymer coatings in several end-use application sectors owing to its desired features, the Asia-Pacific market for FEVE fluoropolymers is anticipated to expand at a healthy rate throughout the forecast period. The largest market is Asia-Pacific, with China in the lead, followed by Europe and North America. As Asia-Pacific is a price-sensitive market, the demand for FEVE fluoropolymer coating is expected to increase in India, Japan, and South Korea, among other nations of the region says Himanshu Vasisht, Senior Research Manager at Mordor Intelligence.
In Asia Pacific, China is enduring a construction boom. The country is the world's largest construction market, accounting for 20% of total worldwide construction investment. By 2030, the country is estimated to spend over USD 13 trillion on construction.
In order to take advantage of lower production costs and a larger supply of raw materials, many big global players are relocating their factories to the Asia-Pacific region. With the increase in investments in construction industries, the opportunities for FEVE Fluoropolymer coatings is at a peak in the near future.
Opportunities in the market under study during the forecast period are growing as a result of product diversification from leading players. PPG one of the major players in the market has launched CORAFLON Platinum FEVE fluoropolymer powder coatings for architectural extrusions and sheet aluminium applications that provide transfer efficiencies of over 20%.
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