The global fluoropolymer materials market was estimated at 336.9 kilotons in 2015, and it is expected to grow at a CAGR of 5.1% during 2016 - 2022. The growth of the global fluoropolymer materials market is largely driven by growth in key industries, strong demand for fluoropolymer materials in Asia-Pacific, and increased industrial applications. Moreover, fast pace photovoltaic installation is further boosting the growth of the global fluoropolymer materials market. The developing countries in Asia-Pacific, such as China, India, and Indonesia are propelling the growth of the regional market. The key industries such as automotive and electronics are witnessing robust growth across the globe, which is boosting the demand of fluoropolymer materials.
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Among the various types of fluoropolymer materials, the polytetrafluoroethylene (PTFE) segment held the largest share (60.9%) with market size of 205.1 kilotons in 2015 in the global fluoropolymer materials market. The fluoroelastomers segment is anticipated to witness the highest growth at a CAGR of 6.4% during the forecast period. The increasing demand of fluoroelastomers is attributed to its increased application in automotive, aerospace and industrial processing.
In 2015, Asia-Pacific held the largest share (40.3%) in the global fluoropolymer materials market with a size of 135.8 kilotons. Furthermore, the fluoropolymer materials market in the region is expected to witness the highest growth at a CAGR of 5.4% during the forecast period. The major reasons behind the growth of the fluoropolymer materials market in the region is attributed to increasing infrastructure development, growing demand for automobiles and robust development in electronics industry. Moreover, the buying power of individual in Asia-Pacific has grown significantly, which has raised the living standard of individual, resulting in more expense on housing, electronics and automobiles.
Among the various applications of fluoropolymer materials, the electrical and electronics segment held the largest share in the global market in 2015 and the segment is expected to witness the highest growth during 2016 - 2022.
The information and data in the publication “Global Fluoropolymer Materials Market Size, Share, Development, Growth and Demand Forecast to 2022”, represents the research and analysis of data from various primary and secondary sources. An amalgamation of bottom-up and top-down has been used to calculate the market size. P&S Market Research analysts and consultants interacted with leading companies of the concerned domain to substantiate every value of data presented in the report. The company bases its primary research on discussions with prominent professionals and analysts in the industry, which is followed by informed and detailed, online and offline research.
Some of the major players operating in the global fluoropolymer materials market include Daikin Industries Limited, Solvay SA, Arkema SA, Dongyue Group Ltd., Halopolymer Ojsc, Kureha Corporation, E.I. Dupont DE Nemours & Company, Asahi Glass Co. Ltd., 3M Company, Saint-Gobain, Fuxin Heng Tong Fluorine Chemicals Co. Ltd., and The Chemours Company.
GLOBAL FLUOROPOLYMER MATERIALS MARKET SEGMENTATION
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