High Performance Fluoropolymer Market size is forecast to reach $5 billion by 2025, after growing at a CAGR of 7% during 2020-2025. With rise in the demand for polymers due to its wide applications and characteristics such as high strength, light weighted and others, there is increase in demand for High Performance Fluoropolymer Market. Growing public interest towards light weighted and high performance products will further enhance the overall market demand for High Performance Fluoropolymers during the forecast period.
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Type – Segment analysis
Homopolymer such as polytetrafluoroethylene (PTFE), which is formerly known as Teflon, holds the largest market share in the high performance fluoropolymer market. It is mainly used for cookware and other non-stick applications. PTFE is a type of perfluorinated compound (PFC). PFCs are a family of fluorine-containing chemicals which have unique properties to make materials stain and stick resistant. During manufacturing, Perfluorooctanoic acid (PFOA) is used to bond PTFE coating to pots and pans, making them non-stick. As the market for non-stick utensils will increase, the market demand for High performance Fluoropolymer will also increase.
Application – Segment analysis
Non-stick cookwares holds the largest share in the applications of the high performance fluoropolymer market, as it is widely used in houses. Developed countries such as Great China, Japan with others are major market for these non-stick cookware, as people there prefer to use inductions instead of gas. So, as the market for non-stick utensils grows, the demand of High performance fluoropolymers will also increase. Non-stick cookware are more easy and safe to use than the others, even small childrens can also come near to it, as it is not harmful or flammable. So, it is safer and very handy to use, high performance fluoropolymer have a very high potential to grow in these markets.
End Use – Segment analysis
Automotive industry holds the largest share in end use industries of high performance Fluoropolymers as, they are used to protect and insulate wires in order to prevent overheating and potential fires. Fluoropolymers have unmatched chemical and temperature resistance which is why they’re used in products such as cars, bikes. Fluoropolymers, in the form of thermoplastics and elastomers are also used because of the combination of their high resistance to fuels, lubricants to elevated temperatures such as fuel and vapor management hoses, fuel tank filler necks, wire insulations, O-rings, diaphragms, seals. Whereas, fluoropolymers like polyvinylidene fluoride (PVDF) and polyethylene-co-tetrafluoroethylene (PETFE) are used as barrier layers in some PA-based multilayer fuel pipes. So, with the increasing demand of vehicles, the high performance polymer market will automatically grow.
Geography – Segment analysis
APAC has dominated the High performance fluoropolymers market, as APAC consists largest number of vehicles. According to the data of production statistics 2019 from International Organization of motor vehicle manufacturer (OICA), APAC had produced 52.65 million vehicles, which is the most number of vehicles produced around the globe. APAC consist a very dominant part in the world’s roadway network also, due to the large area it acquired. Whereas AH1 is the longest route of the Asian Highway Network, running from Tokyo, Japan via Korea, China, Southeast Asia, Bangladesh, India, Pakistan, Afghanistan and Iran to the border between Turkey and Bulgaria west of Istanbul where it joins end-on with European route E80. So, because of huge demand of vehicles in APAC, it is a huge market for high performance fluoropolymers.
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Drivers – High Performance Fluoropolymers Market
Continuous increase in demand for non-stick cookware, is expanding the high performance fluoropolymers market. Developed countries such as Germany, US, Great Britain are looking very curious toward the non-stick cookwares. So, it have a good chance for expanding market more towards Europe and North America also.
Fluoropolymers are very easy to manufacture and are easily available to the end use industries. These are vastly used during manufacturing of vehicles in automotive industry to have vehicles light weighted and to reduce the overall cost of the vehicles.
Challenges – High Performance Fluoropolymers Market
Generally, Teflon is a safe and stable compound. However, at temperatures above 570°F (300°C), Teflon coatings on nonstick cookware start to break down, releasing toxic chemicals into the air. Inhaling these fumes may lead to polymer fume fever, also known as the Teflon flu.
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the High performance fluoropolymers market. In 2019, the market of Traffic markings has been consolidated by the top five players accounting for xx% of the share. Major players in the high performance fluoropolymers Market are The Chemours Company, Daikin Industries, Ltd., 3M, Solvay SA, AGC, The Dongyue Group, and Gujrat Fluorochemicals Ltd. among others.
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