High performance fluoropolymers find application in use cases which demand exceptionally high-performance requirements. Composed entirely of carbon and fluorine atoms, high performance fluoropolymers exhibit characteristics of high molecular weight, excellent chemical resistance at high temperatures, and superior thermal and mechanical stability which make them ideally suited for numerous applications.
Key Players
Leading players profiled in the high performance fluropolymer market report include Shanghai 3F New Materials Co., Ltd. (China), Hubei Everflon Polymer CO., Ltd. (China), Gujarat Fluorochemicals Ltd. (India), AGCCE (U.K), DAIKIN INDUSTRIES, Ltd. (Japan), The Chemours Company (U.S.), Shamrock Technologies (U.S.), DuPont (U.S.), 3M (U.S.), and Solvay (Belgium).
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The global high performance fluoropolymers market is expected to exhibit steady CAGR over the forecast period of 2022-2030 on account of persistent demand from various industry verticals such as aviation & automobiles, electrical & electronics, industrial processing, medical, and others.
Market Analysis
The high-performance fluoropolymer market is likely to grow at a healthy CAGR between 2020- 2030, as per the new Market Research Future (MRFR) report. High performance fluoropolymers, simply put, are fluorocarbons that have polymers with material characteristics of exceptionally high performance. They have excellent properties such as good thermal and mechanical stability, high electrical insulation, and good chemical resistance at high temperatures, thereby making it ideal for various applications including additives, film, mechanical parts and component, coatings and liner, and others.
Industry Updates
September 2018- W. L. Gore & Associates, a leading materials science company launched its new flexible freeze containers made with proprietary high-strength fluoropolymer material that is durable after freezing at -86 °C (-123 °F). The new product is designed to protect high-value drug substances from breakage or leakage during transportation.
On the contrary, slightly higher prices and increasing demand for bioplastics are factors that may limit the high performance fluropolymer market growth over the forecast period.
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Covid-19 Analysis /Covid-19 Impact on High Performance Fluoropolymer Market
The coronavirus outbreak has resulted in the shutdown or idled various auto assembly plants in China. Hyundai for instance has closed its plants in South Korea due to a shortage of parts from China as well as widespread of this virus in South Korea. And similarly, the top auto giants in Europe like BMW, Renault, and FCA are also closing down plants due to the rising spread of the novel coronavirus in European countries. All this is having an impact on the high performance fluropolymer market growth.
Market Segmentation
The MRFR report offers an inclusive segmental analysis of the global high performance fluropolymer market report based on end use industries, application, and type.
By type, the high performance fluropolymer market is segmented into polyethylenetetrafluoroethylene (ETFE), polytetrafluoroethylene (PTFE), perfluoroalkoxy polymer (PFA), fluorinated ethylene propylene (FEP), and others. Of these, the PTFE segmemt will lead the market over the forecast period.
By application, the high performance fluropolymer market is segmented into additives, film, mechanical parts and component, coatings and liner, and others. Of these, coatings and liner will dominate the market over the forecast period.
By end use industries, the high performance fluropolymer market is segmented into medical, industrial processing, electrical and electronics, aviation and automobiles, and others. Of these, the industrial processing segment will have a major share in the market over the forecast period.
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Regional Analysis
Based on the region, the global high performance fluropolymer market report covers the recent trends & growth opportunities across the Americas, Europe, the Asia Pacific (APAC), Latin America, & the Middle East & Africa (MEA). Of these, North America will dominate the market over the forecast period for its increasing use in the electrical and electronics, and medical industries. Guatemala, Canada, Mexico, and the US are the major contributors in the market.
The high performance fluropolymer market in the APAC region will dominate the market over the forecast period for burgeoning demand from different end use industries, namely electrical and electronics, aviation and automobiles, and others. India, Vietnam, and China are the major contributors in the region for the increasing automobile production as well as sales, cheap labor costs, implementation of new development strategies, and easy availability of raw materials.
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The high performance fluropolymer market in Europe is predicted to have moderate growth over the forecast period for its increasing use to manufacture high class scientific and lab instruments. The UK, France, Germany, and Spain are the major contributors in the region for shifting interest of manufacturers towards high performance fluoropolymer and developed end use industries.
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