Fluoropolymers Market to Develop Rapidly by 2028

According to the fluoropolymers market forecast, the global market size is estimated to cross $11,924.6 million by 2028, growing from $7,520.9 million in 2020, at a healthy CAGR of 5.9%.

COVID-19 Impact on Fluoropolymers Market

The global market for fluoropolymers has experienced negative growth, throughout the COVID-19 situation. The production of fluoropolymers has gone down, declining demand for the chemicals required for manufacturing.

Contrary to this, in June 2021, Arkema, a key player in specialty materials fulfilling major ecological and societal challenges, announced the official launch of its new sustainable Kynar PVDF range. The new grade of fluoropolymer is 100% renewable. Such company initiatives are further expected to create massive opportunities, during the pandemic situation.

How COVID-19 Pandemic has Positive Impact on Fluoropolymers market? Connect with our Expert Analyst@ https://www.researchdive.com/connect-to-analyst/8543

Global Fluoropolymers Market Analysis

The surging demand from end-use industries such as automotive, electrical & electronics, and building & construction industries is one of the major factors driving the global market for fluoropolymers. Also, ongoing research and innovations along with the growing shift towards green fluoropolymers are some of the factors propelling the demand for fluoropolymers, in the analysis period. Furthermore, the strong presence of 3M, AGC Chemical, and Arkema is also creating significant impact on the global fluoropolymers market.

Fluoropolymers enjoy exceptional healthcare properties. Fluoropolymers materials are inert, non-sticky, non-toxic, pure, bio-compatible, and can be sterilized. Such unique properties make them vital for application in pharmaceutical & cryogenic applications and medical device. Also, in the medical industry, this polymer finds comprehensive use as packaging for medical sprays and liquids. Such potentialities of fluoropolymers are further expected to boost the demand, which may eventually create massive opportunities in the global fluoropolymers, in the near future.

Global Fluoropolymers Market, Segmentation

The global fluoropolymers market is segmented based on type, application, end-use industry, and region.

Type:

The type segment is further classified into PTFE, FEP, PVDF, Fluoroelastomers, PVF, PFA, ETFE, and others. Among these, the PVDF sub-segment is predicted to have the notable growth and cross $1,883.7 million by 2028, with the rise from $1,128.0 million in 2020.

Application:

The application segment is further classified into film, tube, sheet, pipe, membrane, sealant, roofing, additives, and others. Among these, the film sub-segment is predicted to have the fastest growth and cross $2,548.0 million by 2028, with the rise from $1,501.9 million in 2020.

End-use Industry:

The end-use industry segment is further classified into transportation equipment, electrical & electronics, construction, industrial equipment, and others. Among these, the industrial equipment sub-segment is expected to have the significant share as well as market growth, and surpass $4,933.4 million by 2028, with the increase from $3,006.3 million in 2020.

Region:

The fluoropolymers market was investigated across North America, Europe, Asia-Pacific, and LAMEA. The share of Asia-Pacific fluoropolymers market is anticipated to grow at a CAGR of 6.0%, by registering a revenue of $6,470.0 million by 2028

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Key Players in the Global Fluoropolymers Market

Some of the leading global fluoropolymers market players are

Daikin Industries Limited
Chemours (DuPont)
Solvay SA
Asahi Glass Co. Ltd.
Arkema SA
3M (Dyneon GmbH)
Dongyue Group Ltd
Gujarat Fluorochemicals Ltd. (GFL)
Halopolymer Ojsc
Honeywell International Inc.

Along with the company profiles of the key players in the market, the report includes the Porter’s five forces model that gives deep insights into the competitive environment of the market.

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