High-Performance Fluoropolymers Market Forecasts to 2028 - Global Analysis By Type, Form, Product (Ethylene Tetrafluoroethylene, Fluorinated Ethylene Propylene ) and By Geography

According to Stratistics MRC, the Global High-Performance Fluoropolymers Market is accounted for $3.76 billion in 2021 and is expected to reach $6.80 billion by 2028 growing at a CAGR of 8.8% during the forecast period. High-Performance Fluoropolymers are fluorocarbons comprising polymers with unusually high-performance material characteristics. They exhibit superior properties such as excellent chemical resistance at elevated temperatures, high electrical insulation, and superior mechanical & thermal stability which makes them proper for several end-use industries such as aviation & automobiles, electrical & electronics, industrial processing, and medical among others.

Market Dynamics:

Driver:

High Development in End-Use Industries

The industrial processing, automotive and aerospace, medical industries, and electrical & electronics extensively use it owing to its advantages over other polymers and versatile properties. These industries are growing speedily, which is boosting the demand for the market. High heat resistance, low weight, high dimensional stability, and good chemical resistance are increasing the demand for it in the automotive industry. It is also used in various parts of engines to improve the performance and durability of vehicles. They are used to manufacture different interior and exterior components in the automotive and aerospace sectors. The several applications in this industry require it so that can withstand aggressive application conditions under a broad range of temperatures. In aerospace engineering, lightweight materials are highly used, and thus, the aerospace industry is dependent on HPF that have the perfect combination of low weight; temperature, flame, abrasion, and chemical resistance; and flexibility and non-leaching capabilities.

Restraint:

Higher cost

The development of High-Performance Fluoropolymers needs significantly high investments, as the procedure is more difficult than that of any other group of plastics, such as PE and PP. A high level of technical expertise is required to manufacture products. Owing to these factors, the production of HPF is costly and, thus, results in expensive end-products. The high price limits their demand in low-end application areas and limits the growth of the market. The high cost of production also bars the entry of medium-sized and small market players, which, in turn, reduces the market size of HPF.

Opportunity:

Developing Market for Melt-Processable Fluoropolymers

The melt-processable thermoplastic fluoropolymers is projected to witness higher growth than PTFE during the forecast period, owing to the significant demand from developing applications. When compounded with fillers, pigments, and other additives, these fluoropolymers gain higher functionality and improved characteristics to be suitable for applications, such as wire & cable; semiconductor and electronic components; valves, fittings, and pump housings; tubing and pipe; and specialty films. This will further boost the growth prospects of the market worldwide. HPF is mostly used for extreme temperature applications in numerous end-use industries, such as industrial processing, transportation, electrical & electronics, medical, and others. They are also useful for a widespread variety of other applications, which comprise consumer goods, machine parts, medical equipment, and packaging and storage materials. They are becoming the material of choice and replacing the traditional materials, such as steel, aluminum, and wood, as they are melt processable and thermoplastic. In comparison to other traditional materials, melt-processable fluoropolymers have higher chemical and impact resistance as well as higher strength-to-weight ratios. They also offer greater design flexibility in comparison to traditional materials.

Threat:

Risks of Overheating

Mostly, 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.

Coatings & Liners segment is expected to be the largest during the forecast period

The market in coatings & liners is estimated to account for the largest share during the forecast period. HPF coatings and liners are used to overcome the challenges of guarding large and complex containment vessels and connected piping systems. Coatings & liners deliver abrasion, corrosion, and wear resistance while preserving non-stick and high purity characteristics.

The Automotive segment is expected to have the highest CAGR during the forecast period

As the HPF is are used to protect and insulate wires to prevent overheating and potential fires. Fluoropolymers have unmatched chemical and temperature resistance which is why they're used in products such as cars, and bikes. Fluoropolymers, in the form of thermoplastics and elastomers, are also used because of the mixture of their high resistance to fuels, and 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 growing demand for vehicles, the market will automatically grow.

Region with highest share:

The Asia Pacific is projected to hold the highest market share; APAC is expected to be the fastest-growing market, owing to the existence of large manufacturing and highly populated countries, such as China and India. China, India, Japan, Indonesia, and South Korea are some of the key countries in the market in this province. China accounted for the largest share of the APAC market, owing to the presence of huge chemical, automotive, medical, and electronics industries. The growing production of automobiles, consumer households, medical disposables, and their increasing demand across the province boosts the demand for the market. Growth in the manufacturing of automobiles and electronics hardware across the province is expected to grow further with changing demographics.

Region with highest CAGR:

North America remains to be a key market with the majority of the demand concentrated in the US. The country also houses the manufacturing facilities of The Chemours Company which has been the oldest and key manufacturer in the market. These are major importers of high-performance fluoropolymers which explains the growing demand for fluoropolymers in end-use industries. The US emerged as the largest producer of oil & gas globally, which triggered the expansion across downstream process industries, which benefitted the market. Also, the US and Mexico are amongst the top automotive manufacturers of HPF globally. The presence of full-fledged end-use industries is the major demand driver for the market in North America.

Key players in the market:

Some of the key players profiled in the High-Performance Fluoropolymers Market include 3M, AGC, Chenguang Research Institute of Chemical Industry, Daikin Industries, Dongyue Group, Gfl Limited, Guangzhou Lichang Fluoroplastics Co., Ltd, Halopolymer, Hindustan Fluorocarbons Limited, Hubei Everflon Polymer, Jiangsu Meilan Chemical Co. Ltd, Juhua Group Corporation, Shamrock Technologies, Shandong Hengyi New Material Technology Co., Ltd, Shanghai 3F New Materials Co., Ltd., Solvay, The Chemours Company.

Key developments:

In May 2019: Daikin Industries announced plans to establish a subsidiary in China to cater to the growing demand for fluorochemicals that are used for manufacturing semiconductors and batteries.

In May 2019: Dongyue Group announced plans to expand the dispersion resin and concentrated emulsion PTFE production capacity of its Zibo plant in China. This expansion has been undertaken to cater to the growing demand for PTFE from Europe, North America, South America, and Southeast Asia.

In February 2019: AGC launched FEP high performance fluoropolymer under its brand, AFLAS. This polymer is used majorly in automotive underhood component systems and can withstand an operating temperature of 392°F.

Types Covered:

• Grееn/Salmon Pink
• Goldеn/Silvеr
• Rеd/Grееn
• Rеd/Goldеn
• Yеllow/Bluе

Forms Covered:

• Granular/Suspension
• Fine Powder & Dispersion
• Micropowder
• Tubing
• Wire & Cable

Products Covered:

• Ethylene Tetrafluoroethylene (ETFE)
• Fluorinated Ethylene Propylene (FEP)
• Perfluoroalkoxy Alkane (PFA)
• Polytetrafluoroethylene (PTFE)
• Polyvinylidene Difluoride (PVDF)
• Tetrafluoroethylene Perfluoromethylvinylether (MFA)
• Other Products

Applications Covered:

• Coatings & Liners
• Mechanical Parts & Component
• Film & Membranes
• Additives
• Other Applications

End Users Covered:

• Industrial Processing
• Transportation
• Electrical & Electronics
• Medical
• Other End Users

Sales Channels Covered:

• Direct Channel
• Distribution Channel

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2020, 2021, 2022, 2025 and 2028
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances