Fluoropolymer is a fluorinated polymer that has multiple strong carbon-fluorine bonds. Fluoropolymers possess unmatchable combination of chemical resistant and mechanical and electrical insulation properties. Due to these properties, fluoropolymers are widely being used in various automotive and electrical & electronics applications. Fluoropolymers are very popular in industrial processing industries due to their chemical and oil resistant properties. In terms of revenue, the global fluoropolymer market was valued at US$ 6,403.4 Mn in 2014 and is projected to account for US$ 11,472.6 Mn by the end of year 2025. In terms of volume, the global fluoropolymer market stood at 299.9 thousand tonnes and is anticipated to reach 478.2 thousand tonnes by 2025.
On the basis of product type, the global fluoropolymer market has been segmented into polytetrafluoroethylene (PTFE), polyvinyl fluoride (PVF), polychlorotrifluoroethylene (PCTFE), polyvinylidene difluoride (PVDF), fluorinated ethylene propylene (FEP), perfluoroalkoxy polymer (PFA) and others. Polytetrafluoroethylene (PTFE) segment accounted for the largest market share of over 41% of the global value for fluoropolymers in 2014. The segment is anticipated to expand with a significant CAGR of 5.4% during the forecast period. Polyvinylidene difluoride (PVDF) is the second-largest segment and accounted for 16.2% of the market value share in 2014 and is expected to increase at a CAGR of 5.2%, during the forecast period. This is primarily owing to its increasing consumption in electronics and aerospace industries for insulation and coatings.
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By end use industry, the global fluoropolymer market is segmented into automotive & aerospace, industrial processing, healthcare, electrical & electronics, construction and others. Industrial processing segment accounted for the largest market share of over 28% of the global value for fluoropolymers in 2014. With over 20% share in the global fluoropolymer market, the electrical & electronics was the second-largest end use industry in the global fluoropolymer market in 2014 and is anticipated to expand at a CAGR of 5.6%, in terms of value, during the forecast period. Automotive & aerospace segment is projected to witness comparatively high CAGR of 5.7% over the forecast period. Fluoropolymers are largely used in industrial processing and electrical & electronics industries in various applications such as pump, impellers, coating for heat exchangers, tanks, reaction vessels, autoclaves, container, flue duct expansion joints, components for manufacture of semiconductors and electrical insulation. This is mainly owing to the excellent chemical resistant and mechanical properties offered by fluoropolymers. Furthermore, the scope of other end use industries segment for fluoropolymers is expected to expand in the near future due to increasing usage of fluoropolymers in emerging applications such as waterproof clothing, non-stick cookware and dental filling.
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On the basis of product type and end use industry, the report analyses the attractiveness of each product type and end use industry using the attractiveness tool. Furthermore, all the end use industries and product types of fluoropolymer are analysed in terms of Basis Point Share to understand individual segments relative contribution to overall market growth. This detailed level of information is important for identification of various key trends of the global fluoropolymer market.
All the above sections evaluate the present scenario and growth prospects of the global fluoropolymer market for the period 2015–2025.
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