Global Fluoropolymer Market to reach USD 12.74 billion by 2027.
Global Fluoropolymer Market is valued approximately USD 8.20 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 6.50 % over the forecast period 2021-2027. A fluoropolymer refers to a polymer that has carbon and fluorine to form carbon-fluoride bonds. This polymer performs well in extreme corrosive and high temperature environments. Due to its high resistance to temperature, it is widely used in automotive, aerospace, electronics, telecommunications, and defense-related industries. Growing demand from Construction and Automobile industries and its increasing use in medical industry are some of the main factors for adoption of Fluoropolymer across the forecast period. As per Statista the global automotive industry will grow to 9 trillion U.S. dollars by 2030. It is estimated that new vehicle sales will account for about 38 percent of Value. Also, increasing spending of government on infrastructure development will lead to increase the market growth during the forecast period. However, Due to covid 19 the low demand from some of the end use industry like aviation will slow down the overall growth of the market over the forecast period of 2021-2027.
The key regions considered for the global Fluoropolymer market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing presence of some of the biggest Automobile industries and Housing and Construction industries. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2021-2027. Factors such as growing infrastructure development, and presence of leading Automobile Manufacturer would create lucrative growth prospects for the Fluoropolymer market across Asia-Pacific region.
Major market player included in this report are:
THE CHEMOURS COMPANY
DAIKIN INDUSTRIES, LTD.
DONGYUE GROUP CO., LTD.
HONEYWELL INTERNATIONAL INC.
MITSUBISHI CHEMICAL CORPORATION
SHIN-ETSU CHEMICAL CO., LTD.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product Type:
By End Use Industry:
Electrical & Electronics
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2018, 2019
Base year – 2020
Forecast period – 2021 to 2027
Target Audience of the Global Fluoropolymer Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers