Fluoropolymers Market: Snapshot
Fluoropolymers have emerged as a versatile category of engineered plastics in a wide range of end-use industries, including in the automotive and aerospace industries. The groundswell of interest in the application of the polymer materials is underpinned by the amazing thermal stability fluoropolymers possess. This property is well complemented by their splendid chemical resistance and high surface resistivity. This makes them suitable for various high-temperature applications as well as for corrosive chemical environments prevalent in the automotive industry. The growing demand for performance polymers in the making of automobiles’ bodies has stemmed from the need to conform to increasingly demanding industrial regulatory norms, especially in several developing and developed nations. The rising usage of engineered plastics in the vehicle power train bodes well for the demand for fluoropolymers in the automotive industry. In recent years, the expectations of end users, especially in emerging economies, have also soared with regard to the performance and durability of vehicles. This is also catalyzing the uptake of fluoropolymers.
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The rising need to meet industry standards has propelled the demand for automotive made with materials that are exposed to extremely high temperatures and aggressive chemical conditions. Hence, there is an extensive demand for high-performance engineered plastics in fluoropolymers in the making of the vehicle fuel and transmission system, electrical systems, and tubing. Of special significance is the use of these polymers in making PolyTetraFluoroEthylene (PTFE) tubing. In addition, fluoropolymers prove as an excellent protective materials for wires and cabling used in vehicles as these wires frequently come in contact with high temperatures. The marked light weight of fluoropolymers is also an attractive proposition for their usage in the vehicles’ bodies in order to make them more fuel efficient. However, there are risks of the emission of toxic products when fluoropolymers are overheated. This calls for modification of chemical properties of these polymers.
Global Fluoropolymers Market: Overview
This report on the global fluoropolymers market is a comprehensive market intelligence study that brings forth the lucrativeness of the said market. Beginning with an executive summary that comprise a snapshot of how the demand for Fluoropolymers has evolved over the recent past and where is it headed to in the future, the report delves into the analysis of various market dynamics, such as opportunities, trends, challenges, and drivers. A detailed overview of the said market with the analysis of porter’s five forces has been provided in a bid to present a concise and clear landscape of the market vendors to the readers. The market intelligence study also points at mergers, important conglomerates, numerous research and development activities, acquisitions, and corroborations. The said publication allows market stakeholders to study the market in detail and carefully and take well-informed decisions so as to optimize profit and minimize cost.
The world market for fluoropolymers is expected to grow at a robust CAGR and is anticipated to attain a significant market valuation by the end of the period of forecast.
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Global Fluoropolymers Market: Trends and Opportunities
In order to cater to the rising demand for medical devices, fluoropolymers are being utilized on a large scale due to its biocompatibility, lubricity, and good dielectric properties. They are also being widely utilized for the development of biomedical materials for heart valves and artificial corneas. Fluoropolymer is emerging as one of the widely used material in the healthcare industry and in case of replacement of many of the plastic products in the medical devices. Having numerous unique properties such as low coefficient of a fraction, and high resistance to chemical and heat, fluoropolymer is also utilized as a substitute bone for nose parts, knee, skull, hip, and ear. Major market players are also focusing on the development of recyclable and eco-friendly fluoropolymers, as such, this is resulting in the rising popularity of fluoropolymer in the healthcare sector.
Global Fluoropolymers Market: Market Potential
The market vendors have been forecasted to obtain new opportunities as there has been an increased emphasis on spending more on the work of research and development by many of the fluoropolymers manufacturing companies thereby driving further growth of the said market. In addition to that, many of the market participants are anticipated to make a foray into the emerging economies that are yet to be explored so as to find new opportunities.
Global Fluoropolymers Market: Regional Analysis
The geographical segmentation of the global Fluoropolymers market is diversified into Western Europe, Eastern Europe, Latin America, North America, the Middle East and Africa, Japan and Asia Pacific Excluding Japan (APEJ). Asia Pacific Excluding Japan (APEJ) is estimated to be one of the major regions in the world market for fluoropolymer during the forecast period and is forecasted to witness growth in the future years. Furthermore, due to the increase in manufacturing activities, availability of labor, land, and various raw materials comprising ethylene, and fluorocarbon at low price, the region is forecasted to experience significant growth during the period of forecast. The demand for fluoropolymer is also increasing in countries such as Vietnam, Indonesia, and Thailand owing to the development of healthcare sector. Meanwhile, North America is also estimated to experience growth in the usage of fluoropolymer material in the healthcare sector, particularly in drug delivery, pharmaceutical packaging, and the medical devices.
Global Fluoropolymers Market: Competitive Landscape
A few leading players that are operating in the world market for fluoropolymers market comprise eminent names such as Mexichem S.A.B. de C.V, The Chemours Company, 3M Company, E.I Dupont De Nemours and Company, Asahi Glass Co., Ltd, W. L. Gore & Associates, Inc., Daikin Industries Ltd., Honeywell International Inc., Compagnie de Saint-Gobain SA, Zeus Industrial Products Inc., and Solvay SA.
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