December 6, 2019
— 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.
In 2018, AGC Chemicals Americas launched a new type of fluoropolymer which ensures better performance of the under-the-hood components. This can be of great importance for the automotive segment.
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Market Research Future (MRFR) in their report on the High-Performance Fluoropolymer Market reveals exceptional chances for the market to gain substantial CAGR during the forecast period (2016-2023). High-performance fluoropolymers contain polymers and its performance banks on features such as extraordinary chemical resistance against high temperature, enhanced electrical insulation, and superior mechanical & thermal stability. These features are bound to grow traction from the end-user industries for the high-performance fluoropolymer market. Manufacturing and designing of several components in sectors such as aviation & automobiles, electrical & electronics, industrial processing, and medical can provide a substantial trigger to the global high-performance fluoropolymer market. The market is all set to gain momentum with rapid industrial growth. In a sector such as aviation, defense and commercial both types of manufacturing units are promoting demand for high-performance fluoropolymer.
Top Key Players
The Chemours Company
Shanghai 3F New Materials Co.Ltd.
DAIKIN INDUSTRIES Ltd.
Gujarat Fluorochemicals Ltd.
Hubei Everflon Polymer CO.Ltd.
But the high-performance fluoropolymer market may find it difficult to grow against the competition triggered by bioplastics in the coming years. At the same time, the high-performance fluoropolymer market can get bottlenecked due to its slightly higher price.
MRFR, in their recent report on the global high-performance fluoropolymer market, segmented the market by type, application, and end-use industries for better assessment.
Based on the type, high-performance fluoropolymer market is segmented into fluorinated ethylene propylene (FEP), perfluoroalkoxy polymer (PFA), polytetrafluoroethylene (PTFE), polyethylenetetrafluoroethylene (ETFE), and others. The PTFE segment has substantial market control and its preference in the diverse sector is quite high.
Based on the application, the high-performance fluoropolymer market can be segmented into coatings & liner, film, mechanical parts & component, additives, and others. The mechanical parts & component segment gets a good call from several industrial verticals that focus on the betterment of their production.
Based on the end-use industries, the high-performance fluoropolymer market can be segmented into electrical & electronics, aviation & automobiles, medical, industrial processing, and others. The industrial processing segment is gaining much from the features shown by the high-performance fluoropolymer market.
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MRFR in their region-specific analysis of the market includes five regions namely - Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.
The APAC market is expected to do the best business the most during the forecast period. Several end-user industries such as aviation & automobiles, electrical & electronics, and others are creating much expansion scope for the market. In countries such as India, China, and Vietnam, the demand is expected to surge higher with each passing year. The credit goes to the automobile sector that is witnessing a substantial rise. The ease of doing business has attracted a lot of foreign players in investing in the region owing to which the region can be assured of substantial market growth.
North America’s market share is the largest in the region with the APAC and Europe trailing behind. The market is getting the thrust from sectors such as electrical & electronics and medical. The presence of countries like the U.S. can ensure tremendous growth owing to the robust infrastructure in healthcare and research & development sectors. In MEA, the growth would be moderate owing to the presence of several poor countries. But Qatar, UAE, Kuwait, and other countries are revamping their infrastructure owing to which the market can be assured of substantial growth.