Fluoropolymer is a polymer containing molecules of carbon and fluorine, and is used in harsh chemicals and high temperature environments. Fluoropolymer has various properties such as inorganic base, and non-sticky. Fluoropolymer is also used for coating which is a mixture of high performance resins and fluoropolymer lubricants.
Rising demand of Fluoropolymer from various end-user industries, and owing to its properties such as high thermal stability, non-stickiness, and heat and chemical- resistant, its adoption in automotive, aerospace, and semiconductor manufacturing units are increasing and is expected to fuel growth of the global fluoropolymers market. Moreover, dielectric property use of fluoropolymer in miniaturization of circuit boards and electronics is expected to further drive growth of the global fluoropolymers market.
High complexity in production of fluoropolymer is a factor expected to challenge growth of the global fluoropolymers market. However, development in fluoropolymer such as (Polytetrafluoroethylene)PTFE & (Polyvinylidene fluoride) PVDF is expected to create new opportunities for market players operating in global fluoropolymers market over the forecast period.
The global fluoropolymers market is segmented on the basis of type, application, and region. On the basis of region, the global fluoropolymers market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East & Africa
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North America market is a dominant player in the global fluoropolymers market and accounts for largest market share in terms of revenue as compared to that of markets in other regions. This is attributed to well-developed application segments such as automobile, chemical, industrial appliances, etc. Europe market accounts for the second largest revenue share contribution to the global fluoropolymers market followed by markets in Asia Pacific, Latin America and Middle East & Africa respectively. The market in Asia Pacific is projected to witness fastest growth in terms of revenue, owing to increase in industrial development and use of fluoropolymer in healthcare and electronic industry in emerging economies in this region.
Prominent market players operating in the global fluoropolymers market include Chemours Company, Daikin Industries Ltd., 3M Company, Solvay SA, Dongyue Group Limited, Jiangsu Meilan Chemical Co Ltd, Arkema SA, Gujrat Fluorochemicals Ltd. and Asahi Glass Co. Ltd.