Fluoropolymers Market was valued at $5,404 million in 2015, and is expected to reach $9,034 million by 2022, registering a CAGR of 7.7% from 2016 to 2022. Fluoropolymers are fluorocarbon-based polymers, which consist of multiple strong carbon-fluorine bonds and are characterized by high resistance to acids, solvents, and bases.

Portland, OR -- (SBWire) -- 11/21/2017 --These are stable in nature due to the stability of multiple carbon-fluorine bonds. In addition, mechanically these polymers are characterized as thermosets or thermoplastics. Fluoropolymers are widely used in semiconductors, automotive, aircraft, and IT among other common household appliances. They offer several excellent characteristic properties such as low friction; non-adhesiveness; and chemical, weather, and heat resistance; along with superior electrical properties.

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At present, the global fluoropolymers market witnesses a lot of opportunities due to rise in demand for lightweight materials and coatings such as Teflon to be used in automobiles and manufacturing components of aircrafts. Moreover, different applications of fluoropolymers in lubrication and electrical and electronics is another factor anticipated to propel the growth of the market during the forecast period. In addition, rise in need for cost-effective insulating material coupled with increase in demand for fluoropolymer electrodes drive the market growth.

Fluoropolymers are expected to register the highest growth in the automotive application owing to rise in use of highly stable fluoropolymer based coatings. Furthermore, fluoropolymers offer several advantages such as higher operating reliability, low conductivity, high resistance to corrosion, higher strength, and higher stability.

Industrial processing segment accounted for around one-third share, in terms of volume, in 2015. In response to the perennial modifications in the industrial processing applications, efficient and lightweight fluoropolymers products are currently in high demand across the globe. Moreover, increase in requirement of cost-effective battery electrodes and rise in adoption of fluoropolymers in automotive industry drive the global fluoropolymers market.

In 2015, Asia-Pacific and LAMEA collectively accounted for more than half of the total fluoropolymers market and are expected to continue this trend due to increase in the growth of automotive and electrical and electronics industry, specifically in China, India, Brazil, and other developing economies. Moreover, rise in use of fluoropolymers in construction applications and changes in preference of thermoplastic resin manufacturers to set up their manufacturing facilities in the aforementioned countries boost the growth of the fluoropolymers market in the Asia-Pacific and LAMEA regions.

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The major companies profiled in the report include The Chemours Company, Daikin Industries Ltd., The 3M Company, Solvay SA, Dongue Group, Jiangsu Meilan, Shanghai Sanaifu, Arkema SA, Gujrat Fluorochemicals Ltd. and Asahi Glass Co. Ltd.