Fluoropolymer Market Is Slated To Grow Rapidly In The Coming Years - Albemarle Corporation, Alfa Aesar, Sumitomo Chemical Corporation Limited

 Market Segmentation

The global Fluoropolymer Films Market is segmented by type, application, and region.

On the basis of the type, the global fluoropolymer market is segmented into polytetrafluoroethylene (PTFE), polyvinylidene difluoride (PVDF), fluorinated ethylene propylene (FEP), ethylene tetrafluoroethylene (ETFE), polychlorotrifluoroethylene (PCTFE), perfluoroalkoxy alkane (PFA) and others. Among these, PTFE accounted for the largest market share owing to chemical inertness, high density, and excellent dielectric properties. PTFE finds application in wire & cables, semiconductors, cryogenic seals & gaskets, and bearing pads among others. PVDF is the fastest growing fluoropolymer film owing to its increasing use in semiconductors, lithium batteries, and chemical industry.

Based on the application, the global Fluoropolymer Market is segmented into electrical & electronics, automobile, aerospace, construction, pharmaceuticals, packaging & specialty films, renewable energy, and others. The electrical and electronics industry has accounted for the largest market owing to growing use of the product in batteries, wires, cable insulation, and others. The product consumption is rising with increasing construction activities in solar cells and roofing material globally. Fluoropolymer films are used extensively in the pharmaceutical industry in cap liners owing to moisture resistance.

 

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Regional Analysis

Asia Pacific was leading the global fluoropolymer films market as a result of enlarging demand for the product from the major end-use industries such as electrical & electronics, construction, automotive, and pharmaceutical. Growing automotive industry as a result of surging demand for the vehicles coupled with rising disposable income of the consumers is driving the market growth. The product consumption is increasing in the aerospace industry owing to rising air traffic coupled with growing tourism in the developing economies.

North America is a substantial region in the global fluoropolymer films market due to the expanding aerospace industry with booming production of aircraft in this region. Additionally, enlarging demand for consumer electronics such as home appliances and wireless speakers among others are propelling the market growth.

Europe is expected to witness a significant growth during the review period owing to reviving automotive industry and rising R&D investment in the aviation industry, especially in Germany.

Latin America and the Middle East & Africa are likely to exhibit a considerable growth over the forecast period with growing number of end-use industries.

 

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