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Increasing medical and healthcare segment is driving the demand for Fluoropolymers Market

HYDERABAD, TELANGANA, INDIA, December 2, 2022 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that The global Fluoropolymers Market size is estimated to reach US$11.2 billion by 2027 and is growing at a CAGR of 5.4% from 2022 to 2027. Fluoropolymers are actually a polymer with a carbon backbone and contain fluorine that forms strong carbon–fluorine bonds. Fluoropolymers show high resistance to heat, chemical reactions, corrosion and pressure cracking. Some of the emerging trends in the fluoropolymers market include the growing application of fluoropolymers in transportation, neoecology, electrical and electronics, and telecommunications sectors. For instance, in the electronics industry fluoropolymers such as polyvinylidene fluoride (PVDF) are used extensively owing to their durable, low maintenance, and economical alternatives to exotic metals. There is a growing demand for fluoropolymers in the medical industry as there is an increasing preference among various membranes and grafts manufactured using biocompatible polytetrafluoroethylene (PTFE) for cardiovascular, orthopedic, ophthalmic and dental procedures.The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

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Key takeaways:

This IndustryARC report on the Fluoropolymers Market highlights the following areas -

1. The tubes and pipes segment accounted for the highest market share as fluoropolymers pipes are used by various industries including automotive, petrochemicals, pharmaceuticals, and chemicals. Mostly polyvinylidene fluoride is used in piping and tubing applications because of its properties like thermal and chemical compatibility.

2. Asia-Pacific is expected to have the fastest growth in the market, which is subjected to increasing demand for fluoropolymers products as there is an increase in construction hubs in China, India, Japan and others. For instance, there was a recent initiation of the Affordable Rental Housing Scheme (AHRC) scheme taken by the Indian Government to provide affordable accommodation to the migrant workers. Such schemes taken by the Government of India will drive the growth of residential construction in India.

3. The demand in construction will promote the demand for automotive, consumer, and electronics products. Thus, there will be a growth in the demand
for fluoropolymers in the Asia-Pacific Region

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Segmental Analysis:

1. The polytetrafluoroethylene (PTFE) segment accounted for more than 40% of the global market share in 2021 and is expected to grow at a CAGR of nearly 5% in the forecast period. PTFE fluoropolymer is estimated to remain as the largest segment both by value and volume and is seen to experience the highest growth over the forecast period, because it absorbs ultraviolet electromagnetic radiation and possesses some excellent dielectric and chemical resistance properties.

2. By geography, Asia-Pacific is seen to emerge as the fastest growing market, subjected to which there will be an increase in demand for fluoropolymers products. The reason being, there are large building and construction hubs in China and India which in turn drive the Asia-Pacific fluoropolymers market. This on the other hand will increase the demand for high-quality medical, automotive, consumer, and electronics products.

3. By application, the pipes segment accounted for the highest market share of around 30% in 2021, and is estimated to hold the highest share even during the forecast period. Fluoropolymers pipes are mostly been used by petrochemicals, pharmaceuticals, chemicals, and other industries involved in the handling of extremely volatile and corrosive solvents and acids for their manufacturing needs. For instance, Daikin, one of the major players in the fluoropolymers market; uses fluoropolymers in making tubes and hoses.

Competitive Landscape:

The top 5 players in the Fluoropolymers Industry are -

1. Daikin Industries Ltd.
2. Solvay
3. AGC
4. Gujrat Fluorochemicals Ltd.
5. 3M Company

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Related Reports:

A. High Performance Fluoropolymers Market
https://www.industryarc.com/Research/High-Performance-Fluoropolymers-Market-Research-500240

B. Fluoropolymers Coatings Market
https://www.industryarc.com/Report/11677/fluoropolymer-coatings-market.html

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