The growth of fluoropolymer films market is driven by expanding pharmaceutical industry along with rapidly rising construction activities
SELBYVILLE, Delaware, March 16, 2020 /PRNewswire/ -- As per the report published by Global Market Insights Inc., the overall fluoropolymer films market size was estimated at $2.22 billion in 2019 and is estimated to reach $3.11 billion by 2026, registering a CAGR of 4.9% from 2020 to 2026. The report provides a thorough assessment of the wavering market trends, top winning strategies, key investment pockets, competitive scenario, market size & estimations, and drivers and opportunities.
The demand for fluoropolymer films in commercial building and new sports complexes is likely to contribute to the total market share over the forecast period. These films possess excellent qualities like heat & weather resistance, making them highly desirable to be used in roof membranes and facades in the construction industry.
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Based on product segment, PFA polymer segment is anticipated to grow at a CAGR of over 4.5% throughout the forecast period. Perfluoroalkoxy films have high temperature stability which ranges up to 260 degrees Celsius. PFA films are also used as hot melt adhesives and can be laminated onto a plethora of substrates due to their versatile nature.
Key reasons for fluoropolymer films market growth
- Expanding construction and automotive industries across APAC.
- Increasing demand from the pharmaceutical industry.
- The rapidly growing transportation sector in Europe.
2026 forecasts anticipate the 'transportation' end-user segment showing appreciative growth
Based on end-use, the fluoropolymer films market is categorized into transportation, construction, medical & healthcare, industrial processing, electrical & electronics, and others. Among these, transportation was a major segment that witnessed growth in 2019. It is further expected to exhibit a CAGR of 4.3% through 2026. The use of fluoropolymer films mainly in aerospace and automobile industry is anticipated to make a positive contribution to total segmental growth.
Fluoropolymer films are majorly used as protective films in the automobile industry and can withstand environmental wear and tear. This in turn makes them highly desirable for paint protection applications in the automobile sector.
North America to continue its prominent status in terms of revenue
Based on regional landscape, North America held a market share of nearly 25% in 2019 and is expected to exhibit a CAGR of over 4.5% over the forecast timeframe. The presence of key electronics manufacturers in the region and technological advanced infrastructure, primarily in the U.S., will act as a chief revenue pocket for the fluoropolymer films market.
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Leading market players
Leading market players analyzed in the fluoropolymer films industry research include SKC Corporation, Honeywell Corporation, Polyflon Technology, Solvay, Saint-Gobain, The 3M Company, Kureha Corporation, AGC Inc., Fluortek, Dunmore, Arkema Group, and Dunmore among others. They have incorporated a number of strategies including partnership, expansion, collaboration, joint ventures, and others to heighten their stand in the industry.
About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
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SOURCE Global Market Insights, Inc.