Apr 27, 2022   SOURCE: BusinessWire

Global High-Performance Fluoropolymers Market to 2026 - Featuring 3M, AGC and Bitrez Among Others - ResearchAndMarkets.com

The "Global High-Performance Fluoropolymers Market by Type (PTFE, FEP, PFA/MFA, ETFE), Form (Granular, Fine Powder & Dispersion), Application, End-use Industry (Industrial Processing, Transportation, Electrical & Electronics, Medical) & Region - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.

The global high-performance fluoropolymers (HPF) market size is estimated to be USD 3.7 billion in 2021 and is projected to reach USD 5.1 billion by 2026, at a CAGR of 6.8%.

This growth is attributed to HPF's growing number of applications in various industries. Also, expansion across end-use industries is further driving the industry for HPF globally. Rapid adoption of 5G Connectivity, advancements in the designing of electronic components, and rising need of hybrid and compact engines for automobiles are also among the major drivers of the HPF consumption.

PTFE accounted for the largest share in total HPF market

PTFE is the most widely used type of HPF and accounted for the largest market share. There is an increase in the use of dispersion and fine powder PTFE, for various applications, especially in North America and APAC. It is used in a wide range of applications such as semiconductor, automotive components, electrical appliances, and non-stick cookware. The growing applications in the electrical & electronics industry are expected to trigger the demand for PTFE, especially in advanced batteries and fuel cells.

Granular form accounted for the largest market share

HPF market is segmented into various forms such as suspension/granules, Fine powder & dispersion, and micropowder. HPF in the form of suspension/granules dominate the market. HPF exhibit excellent properties, such as good insulation, low surface energies, and high resistance to oils, UV radiation, chemicals, water, and corrosion. Granular fluoropolymers are processed by compression and sintering to make parts directly or to make billets suitable for machining. HPF in the form of granules are ideal for manufacturing high-performance mechanical/electrical products requiring excellent end-use performance such as skived tapes, films, sheets, machined gaskets, expansion joints, bellows, piston rings, and diaphragms. Suitability of granular form of HPF in the manufacturing of various components is a major reason for the large market size.

Coatings & liners accounted for the largest market share

HPF market is segmented on the basis of applications as coatings & liners, components, films, and additives. 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 protecting large and complex containment vessels and related piping systems. Coatings & liners offer corrosion, abrasion, and wear resistance while maintaining non-stick and high purity characteristics.

Electronic & Electricals segment accounted for the largest market share

HPF market is segmented on the basis of end-use industry as industrial processing, transportation, medical, electrical & electronics, and others. The increased usage of HPF in wire coatings, cable coatings, fiber optics, and electrical systems in aircraft, computers, and other applications.

Asia Pacific is the largest HPF market globally

In 2020, Asia Pacific accounted for the largest share in the global HPF market. Leading manufacturers and exporters of medical & pharmaceutical, electronics, automotive, and chemical products. The availability of cheap raw materials, low-cost labor, and presence of established end-use industries, such as chemical, oil & gas, transportation, and medical.

China and India, have benefited the HPFs market, owing to increasing demand for high-quality medical, automotive, consumer, and electronic products. China, India, Japan, and South Korea are among the largest automobile producers globally, which creates demand on a regular basis for fluoropolymer products in the transportation industry. Presence of full-fledged end-use industries is the major demand driver for HPF in Asia Pacific.

Market Dynamics

Drivers

  • High Growth in End-Use Industries
  • Robust Growth in Pv Installation
  • Emergence of Manufacturing Sector in Asia-Pacific

Restraints

  • Higher Cost of High Performance Fluoropolymers Than Conventional Materials
  • Environmental Sustainability

Opportunities

  • Emerging Market for Melt-Processible Fluoropolymers

Challenges

  • Difficulty in Processing High Performance Fluoropolymers
  • Intense Price Competition from Chinese Manufacturers
  • Use of Reprocessed Ptfe

Companies Mentioned

  • 3M
  • Agc, Inc.
  • Bitrez
  • Chenguang Research Institute of Chemical Industry
  • Daikin Industries
  • Dongyue Group
  • Fluorocarbon
  • Fluoroseals Spa
  • Gfl Limited
  • Guangzhou Fluoroplastics Co., Ltd
  • Halopolymer
  • Hindustan Fluorocarbons Limited
  • Hubei Everflon Polymer
  • In2Plastics
  • Jiangsu Meilan Chemical Co. Ltd.
  • Juhua Group Corporation
  • Polyflon Technology Limited
  • Rochling Group
  • Rtp Company
  • Shamrock Technologies
  • Shandong Hengyi New Material Technology Co., Ltd.
  • Solvay
  • Techmer Pm
  • The Chemours Company
  • Zibo Bainaisi Chemical Co., Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/94s4di