“The HPF market is projected to register a CAGR of 6.9% between 2019 and 2024.”
The global high performance fluoropolymers (HPF) market size is estimated to be USD 3.3 billion in 2019 and is projected to reach USD 4.6 billion by 2024, at a CAGR of 6.9%. This growth is attributed to HPF’s growing number of applications in various industries. Also, expansion across end-use industries is further driving the industry for HPF globally.
Coatings accounted for the largest market share and are also estimated to be the fastest-growing segment
HPF possess excellent insulating properties, low surface energies, impermeability to gases, and high resistance to oils, UV radiation, chemicals, water, and corrosion. Owing to these excellent properties, HPFs, are used for architectural coatings, metallic coatings, wire & cable coatings, fiber coatings, and glass coatings, among other coating applications.
Increasing demand for coatings from various industries such as automobiles, industrial textiles, wires & cables, and industrial machinery, has created high demand for HPF’s. Considering this scenario, the coatings segment is estimated to be the largest segment in the HPF market. Growth across various end-use industries of HPF’s globally is the reason behind the fastest growth of HPF market in the coatings segment.
North America is the largest HPF market globally
In 2018, North America accounted for the largest share in the global HPF market. New application development, product innovation, and presence of a large number of end-use industries, such as industrial processing, transportation, and electronics & electrical, among others.
US emerged as the largest producer of oil & gas globally, which triggered the expansion across downstream process industries, which benefitted the HPF market. Also, the US and Mexico are amongst the top automotive manufacturers of HPF globally. Presence of full-fledged end-use industries is the major demand driver for HPF in North America.
Extensive primary interviews were conducted in the process of determining and verifying sizes of several segments and subsegments of the HPF market gathered through secondary research.
The breakdown of primary interviews has been given below.
- By Company Type: Tier 1 – 55%, Tier 2 – 27%, and Tier 3 – 18%
- By Designation: C Level Executives – 36%, Director Level – 18%, Others – 46%
- By Region: North America – 37%, APAC – 27%, Europe – 27%, RoW – 9%,
The key companies profiled in this report include The Chemours Company (US), Daikin Industries, Ltd. (Japan), 3M (US), Solvay SA (Belgium), AGC (Japan), The Dongyue Group (China), Gujrat Fluorochemicals Ltd. (India), Halopolymer OJSC (Russia), Hubei Everflon polymer (China), and China Reform Culture Holdings Co. Ltd. (China).
- This report covers the HPF market and forecasts its market size until 2024.
- The market has been segmented based on type, form, end-use industry, and region.
- The report also provides detailed information on company profiles and competitive strategies adopted by the key players to strengthen their positions in the market.
- The report also provides insights into the driving and restraining factors in the HPF market, along with opportunities and challenges across these industries. It also includes profiles for top manufacturers in the market.
Reasons To Buy the Report
The report is expected to help market leaders/new entrants in the following ways:
- This report segments the HPF market and provides the closest approximations of overall market size for its segments across different verticals and regions.
- This report is expected to help stakeholders understand the pulse of the market and provide information on key drivers, restraints, challenges, and opportunities influencing the growth of the market.
- This report is expected to help stakeholders obtain an in-depth understanding of the competitive landscape of the market and gain insights to improve the position of their businesses.
- The competitive landscape section includes detailed information on strategies, such as new product launch, acquisition, and expansion.