Fluoropolymers are high performance polymers characterized by high chemical and temperature resistance, high durability, superior dielectric properties, etc. The demand for fluoropolymers is driven by expansion of key application markets and increasing need for high-performance materials in demanding industrial applications. Emergence of new applications such as fuel cells, photovoltaic modules, lithium-ion batteries, etc. is further expected to boost the market.
Market of fluoropolymers has been estimated using a top-bottom approach for its various product segments and applications in each region. The key players in the market were identified through secondary research and their market revenue were determined through primary and secondary research. Average fluoropolymer prices were estimated from various secondary sources such as chemical week, ICIS, plastics trade online which were verified through primary respondents. The geographical split has been determined using secondary sources verified through primary sources. It is based on various parameters such as number of players in a particular region and the extent of research activity occurring in that geography.
PTFE is expected to be the largest volume fluoropolymer in the forecasted period whereas PVDF and FEP are expected to be the fastest growing fluoropolymers. The PTFE market is maturing and growth in the PTFE market is expected to be driven by the technological advancements and growing application possibilities. The development of melt processable PTFE is expected to help the market in the near future. PVDF and FEP product types are expected to register strong growth owing to their increased use in semiconductor fabrication, wire and cable insulation, and coating in construction applications, and batteries. Fluoroelastomers demand is expected to be driven by the increased usage in automotive and transportation, industrial equipments applications where fluoroelastomers are continuously replacing traditional plastics and rubber owing to the increased requirement of greater durability and high temperature stability in industrial machinery and engines.
With the huge market potential and the growing demand, the global fluoropolymers market is likely to witness considerable growth. The continued research and development in the field of fluoropolymers is expected to provide new and interesting advancements in the emergence of new applications and expansion of existing applications for fluoropolymers.
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