NEW YORK, USA, Feb. 28, 2023 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “Fluoropolymer Coating Market Size, Share, Growth Analysis Report By Application (Automotive, Building & Construction, Electrical, Aerospace, Food Processing, and Others), By Resin (Fluorinated Ethylene Propylene (FEP), Polytetrafluoroethylene (PTFE), Perfluoroalkoxy Alkanes (PFA), Ethylene Tetrafluoroethylene (ETFE), and Others), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028” in its research database.
“According to the latest research study, the demand of global Fluoropolymer Coating Market size & share was worth at approximately USD 300 million in 2021. The market is expected to grow above a CAGR of 5.65% and is anticipated to reach over USD 554 million by 2028.”
The report analyses the Fluoropolymer Coating market’s drivers and restraints, as well as the impact they have on-demand throughout the projection period. In addition, the report examines global opportunities in the global Fluoropolymer Coating market.
Fluoropolymer Coating Market Overview:
Fluoropolymer coatings are created using a blend of resins & lubricants and because they contain a high-grade dry film lubricant, they have wide applications in producing hard, smooth, and slick surfaces that have excellent chemical and corrosion resistance. Other benefits that fluoropolymer coatings provide include electrical resistance, non-wetting, abrasion resistance, galling resistance, and reduced friction.
Fluoropolymers are based on exceptionally well-performing plastics and are fluorocarbon-based. Since the main content is highly versatile, fluoropolymer coatings have extensive applications across industries as they are known to perform functions that other materials are incapable of delivering. For instance, fluoropolymers have become an essential part of the cable wiring industry, since they can withstand high heat and temperature even in corrosive environments where substitutes may fail.
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The coating used to use fluoropolymers makes the end-product maintenance-free even in the harshest weather in a physically challenging environment. There are different types of fluoropolymer resins like homopolymers, copolymers, and fluoroelastomers. The first kind is made of one specific polymer and fluoropolymers from this category are sold in granular forms. Copolymers are made of more than one type of specific polymer whereas elastomers exhibit the property of returning to their original form once deformed.
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- Includes Tables and figures have been updated
- The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, Revenue Analysis, SWOT Analysis, Historical and Forecast Growth, Porter's 5 Forces Analysis
- Facts and Factors research methodology
Key Insights from Primary Research
- As per the analysis, the fluoropolymer coating market is likely to grow above a CAGR of around 5.65% between 2022 and 2028.
- The Fluoropolymer Coating market size was worth around US$ 300 million in 2021 and is estimated to hit approximately US$ 554 million by 2028. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
- The market is projected to grow at a significant rate due to the growing applications in the building and construction industry
- Based on application segmentation, building & construction were predicted to show maximum market share in the year 2021
- Based on resin segmentation, polytetrafluoroethylene (PTFE) was the leading resin in 2021
- On the basis of region, North America was the leading revenue generator in 2021
Competitive Players
The report contains qualitative and quantitative research on the global Fluoropolymer Coating Market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness.
Some of the main players in the global Fluoropolymer Coating market include;
- DaeYoung C and E Co. Ltd.
- Akzo Nobel NV
- Chem Processing Inc
- Metal Coatings Corp.
- BASF SE
- DuPont de Nemours Inc.
- Nippon Paint Holdings Co. Ltd.
- DAIKIN INDUSTRIES Ltd.
- Endura Coatings
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Market Dynamics:
Growth Factors:
- The coating material's widespread use will boost the global market.
The global fluoropolymer coating market is projected to grow owing to the high applications of the coating material in some of the high-investment sectors like aerospace, military, automotive, or transportation. Since fluoropolymers show exceptionally high chemical and temperature resistance combined with unique electrical performance and low flammability, fluoropolymer coatings are highly preferred in the military and aerospace segment where passenger safety is of utmost importance. Using these coatings increases reliability on passenger, commercial, or military planes. The coatings are not only applied on the exterior surface but are used for wiring and cable insulation, and space apparel used by astronauts.
In the automotive industry, fluoropolymer carbon coating allows the machines to reduce friction, an essential trait of any automotive vehicle. They are applied on brake and fuel hoses, under-hood wire, and control cables. Growing population, increasing disposable income, high production rate across price groups, rising number of players, and easy financial assistance are some of the reasons that could drive the global demand for automotive vehicles.
Restraints:
The main challenge global market players could face is in procuring raw materials. Fuel prices have been on a constant upward trend due to various economic, political, and environmental factors, and the price of raw materials has increased drastically as well. The largest suppliers of the compound are located in the Western countries and the eastern regions may have to find alternatives or increase domestic production.
Opportunities & Challenges:
The rising acceptance of environment-friendly coatings could provide market growth opportunities whereas the presence of substitutes is expected to act as a major hindrance.
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Segmentation Analysis:
The global fluoropolymer coating market is segmented based on application, resin, and region.
Based on application, the global market segments are automotive, building & construction, electrical, aerospace, food processing, and others. In 2021, the global market witnessed the highest growth in the building and construction segment due to the benefits offered by the chemical compound owing to its properties like low polarization and high electronegativity. Growing applications in developing economies are projected to help the segment generate higher revenues. In 2021, the building & construction industry of Europe was estimated at a value of USD 2993 billion.
Based on resin, the global market segments are fluorinated ethylene propylene (FEP), fluorinated ethylene, polytetrafluoroethylene (PTFE), perfluoroalkoxy alkanes (PFA), ethylene tetrafluoroethylene (ETFE), and others. In 2021, the global market witnessed the highest revenue in the polytetrafluoroethylene (PTFE) segment due to wide applications of the compound in the manufacturing of valves, gaskets, wires, and bearings as well as to coat it on insulated transformers. PTPE is used extensively in the cookware manufacturing sector which generated around USD 24 billion in revenue in the previous year.
Regional Analysis:
- North America to lead with the highest CAGR during the forecast period
North America is anticipated to lead the global fluoropolymer coating market since previously it has been the largest supplier of fluoropolymer products. Some of the biggest names in the industry are located in the US, for instance, the presence of 3M and DuPont has strengthened the country’s hold over the global market. DuPont was responsible for introducing the highly versatile fluoropolymer to the world and since its discovery has patented the technology used in Teflon, one of the largest revenue-generating brands in the world.
As of September 2022, DuPont has amassed more than USD 16.65 billion. 3M is a global leader in the field of consumer goods and produces more than 60,000 products under different brand names. The total sales value in 2021 for 3M stood at USD 35 billion. Since the product has a high adoption rate in the region, North America is anticipated to lead in the coming years.
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Recent Industry Developments:
- In April 2022, Akzo Nobel N.V. completed the acquisition of Grupo Orbis, a Columbian paints and coatings company. This move is projected to help Akzo strengthen its food hold in Latin America as Grupo is estimated to have a collective value of €360 million
- In July 2021, DuPont announced the acquisition completion of Laird Performance Materials which is a leading provider of high-grade electromagnetic shields and solutions for thermal management
Key questions answered in this report:
- What is the size of the fluoropolymer coating market and what is its expected growth rate?
- What are the primary driving factors that push the fluoropolymer coating market forward?
- What are the fluoropolymer coating Industry's top companies?
- What are the different categories that the fluoropolymer coating Market caters to?
- What will be the fastest-growing segment or region?
- In the value chain, what role do essential players play?
- What is the procedure for getting a free copy of the fluoropolymer coating market sample report and company profiles?
Report Scope:
| Report Attribute | Details |
| Market Size in 2021 | USD 300 Million |
| Projected Market Size in 2028 | USD 554 Million |
| CAGR Growth Rate | 5.65% CAGR |
| Base Year | 2021 |
| Forecast Years | 2022-2028 |
| Key Market Players | DaeYoung C and E Co. Ltd., Akzo Nobel NV, Chem Processing Inc, Metal Coatings Corp., BASF SE, DuPont de Nemours Inc., Nippon Paint Holdings Co. Ltd., DAIKIN INDUSTRIES Ltd., Endura Coatings, and Others |
| Key Segment | By Application, Resin, and Region |
| Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
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The global fluoropolymer coating market is segmented as follows:
By Application
- Automotive
- Building & Construction
- Electrical
- Aerospace
- Food Processing
- Others
By Resin
- Fluorinated Ethylene Propylene (FEP)
- Polytetrafluoroethylene (PTFE)
- Perfluoroalkoxy Alkanes (PFA)
- Ethylene Tetrafluoroethylene (ETFE)
- Others
By Region
- North America
- The U.S.
- Canada
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Southeast Asia
- The Middle East & Africa
- GCC
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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Key Offerings:
- Market Size, Trends, & Forecast by Revenue | 2022−2028
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis by Application, Resin, and Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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