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.

Sarasota, FL -- (SBWire) -- 09/07/2017 --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.

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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.

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.

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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.

Geographically, Asia Pacific was the leading market for fluoropolymers accounting for the maximum market share in 2016 and is expected to continue this trend in the forecast period. The growth in the region is mainly governed by major countries such as China, Japan, India, and South Korea. China is one of the leading markets for construction, electrical and electronics, industrial and household appliances, and automotive industries in the region. Latin America and the Middle East & Africa regions are anticipated to witness a surge in fluoropolymers demand owing to construction sector growth in the region.

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