Increasing penetration in various applications along with growing number of applications in automotive industry is the most prominent factor driving the Global Flouropolymers Market across the globe. Fluoropolymers namely, polytetraethylene, Polyvinylidene fluoride Fluorinated ethylene propylene, fluoroelastomers, and other are the major polymers used for the manufacturing of automotive parts. Fuel hoses, steering systems, O-rings are preferably manufactured using afore mentioned polymers due to their chemical and mechanical resistivity. Apart from these, fluoropolymer are finding newer application in automotive component manufacturing. Automotive consumers are inclined towards efficient and lightweight vehicles. Fluropolymers play significant role in vehicle klightweighting. Major automotive manufacturers namely GM, Toyota, and Volkswagen are actively engaged in launching products based on fluoropolymer in developed markets such as North America, and Europe. Growing automotive production across the globe is antcipated to drive the market.
Apart from this, Floropolymers demand is driven significantly due to growing demand from medical device coatings, and electronics. Although medical device and delectronics are estimated to be smaller segments of overall market, growth of these market is expected to have significant impact on the global marketr. The growing demand of semiconductors in smart phone an dpersonal computers is aantcipated to further propell the overall market growth in near future.
However, the Global Fluoropolymers Market is hampered by stringent regulations restricting the use fluoropolymers in various industries. Due to inherent physical properties of fluoropolymers, they are non-degradable and can cause health hazards. Additionally, There exists a regulatory framework which which restricts the use of most used fluoropolymer, PTFE in consumer goods and other end use industries.
Productwise, PTFE is most dominant Fluoropolymer accounting for more than 50% of the overall fluoropolymer consumption. PTFE has inherent physical properties to chemcial and physical resistance and thus is used in major end use industry. Other major fluoropolymers include PVDF, FEP, ETFE, among others.
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Geographically, Asia-Pacific is the largest and fastest growing region across the globe. Asia-pacific growth is driven by industyrial developmemnt in China and India. China is the leading producer of PTFE, producing around half of the overall PTFE production. Moreover, developed markets such as North America, and Japan are highly focussed on high performance or specilaty fluoropolymers.
Fluoropolymers Market – Competitive Analysis
Global leading polymer manufacturing companies such as BASF SE, DowDuPont Inc., and Lanxess are engaged in business of fluoropolymer manufacturing. The leading chemical companies are competing to increase their market share through extending product portfolio and expan ding their presence in regional markets. Asia-Pacific market offers lucrative opportunity to the Global Fluoropolymer Manufacturers.
Industry/ Innovation/ Related News
Aug 2017: Daikin Industries Ltd. Announced acqusition of Heroflon, an Italian fluoropolyme manufacturer. The move of the company was in line with the tsrtegy to enter into fluoropolymer business and expand into automotive fluorpolymer application. The development highlights, the increasing use of fluoropolymers for lightweighting in automotive industry.
May 2017: AGC Chemicals Americas, a leading global manufacturer of flouropolymer upgrdaed its capability for testing fluropolymers resins to help development of sustainable powder coating. By this development, manufacturer highlighted the growing popularity of fluoropolymer in powder coating market.
Oct 2015: AGRU austria, an Austria based high performance polymer manufacturer agreed to buy fluoropolym,er business of Quadrant EPP AG. The company extended its product portfolio of flouropolymer through the acquistion of brand Symalit. Increasing competition is observed in the global & country markets. The company strenghten its position in the global market.
March 2016: Laurel products, LLC entered into a distribution agreement with Biesterfield to market and distribute its product European market. Laurel products is the flouropolymer manufacturer that is specialized in manufacturing of microionized fluoropolymers. Company aims to distribute its broad product range to customers across the Europe.
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