High Performance Fluoropolymer Market Worth $4.6 Billion by 2024 - Exclusive Report by MarketsandMarkets™

CHICAGO, Sept. 27, 2019 /PRNewswire/ -- According to the new market research report "High Performance Fluoropolymer Market by Type (PTFE, FEP, PFA/MFA, ETFE), Form (Coating, Film & Membranes, Tubing) End-Use Industry (Industrial Processing, Transportation, Electrical & Electronics, Medical), and Region (North America, APAC, Europe) - Global Forecast to 2024", published by MarketsandMarkets™, the High Performance Fluoropolymer Market is projected to grow from USD 3.3 billion in 2019 to USD 4.6 billion by 2024, at a CAGR of 6.9% during the forecast period. The growth of the high performance fluoropolymer industry can be attributed to its high demand from various end-use industry and growing demand from PV installations. 

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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.

Coatings segment accounted for the largest market share and the fastest-growing segment in the HPF market

HPF possesses high energy & stronger C-F bond, excellent oxidative stability, boiling point, and electrochemical properties, which make them highly suitable for coating application in various industries. Owing to these unique benefits, HPFs are in high demand in the form of coating for various substrates such as metal, glass, fibre, plastics, and wire & cables.

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APAC is projected to be the fastest-growing HPF market

APAC is expected to be the fastest-growing market for HPF, owing to the presence 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 HPF market in this region. In 2018, 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 household, medical disposables, and their increasing demand across the region boosts the demand for HPF. Growth in the manufacturing of automobiles and electronics hardware across the region is expected to grow further with changing demographics. Owing to which APAC is projected to be the fastest-growing HPF market.

Most active players in the HPF market:

The Chemours Company (US), Daikin Industries, Ltd. (Japan), 3M (US), Solvay SA (Belgium), AGC (Japan), The Dongyue Group (China), Gujrat Fluorochemicals Ltd. (India), Halopolymer OJSC (Russia), Hubei Everflon polymer (China), and China Reform Culture Holdings Co. Ltd. (China) are a few active players in the HPF Market.

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Browse Adjacent Markets: Resins and Polymers Market Research Reports & Consulting

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Polytetrafluoroethylene (PTFE) Market by Form (Granular, Fine Powder, Dispersion,and Micronized), End-Use Industry (Chemical & Industrial Processing, Electronics & Electrical, Automotive & Aerospace, Consumer Goods), and Region- Global Forecast to 2022

Fluoropolymer Films Market by Type (PTFE, PVDF, FEP, PFA, ETFE Films), Application (Electrical & Electronics, Industrial, Automotive & Aerospace, Medical & Pharmaceutical, Consumer Products), and Region - Global Forecast to 2022

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