High performance fluoropolymers find application in use cases which demand exceptionally high-performance requirements. Composed entirely of carbon and fluorine atoms, high performance fluoropolymers exhibit characteristics of high molecular weight, excellent chemical resistance at high temperatures, and superior thermal and mechanical stability which make them ideally suited for numerous applications. The global high performance fluoropolymers market is expected to exhibit steady CAGR over the forecast period of 2017-2023 on account of persistent demand from various industry verticals such as aviation & automobiles, electrical & electronics, industrial processing, medical, and others.
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Superior properties associated with high performance fluoropolymers such as low dielectric constant, low surface energy, outstanding chemical resistance, and low coefficient of friction can be attributed to its extensive usage in various end-use applications which sustains the growth of the global high performance fluoropolymers market. Moreover, emerging novel applications of high performance fluoropolymers are also likely to drive the demand for the product.
The high performance fluoropolymers market expansion is a result of rapid economic growth and fast track industrialization, especially in developing countries. In the construction industry, high performance fluoropolymers are used in producing acoustical tiles, ceilings, fiberglass reinforced plastics, and other applications where protection or resistance against dirt or other contaminants is required. Apart from Expansion of industrial output and construction activities, the market is also expected to benefit from emerging applications such as photovoltaic modules and advanced batteries and growth within such markets are likely to reflect positively on the global high performance fluoropolymers market. Enhanced demand for photovoltaic modules due to growing interest in alternative energy sources has fuelled the market for high performance fluoropolymers.
The medical device industry is fuelling market growth. High performance fluoropolymers such as FEP, PFA, and PTFE are high performance plastics which are highly resistant to almost all chemical compounds and solvents which open up possibilities for applications in a myriad of medical and pharmaceutical applications. Moreover, biocompatibility is also a feature due to which the product has gained prominence in the medical device industry.
High Performance Fluoropolymer are extensively used in the electrical & electronics industry for the production of hook-up wire, coaxial cables, and other applications. Demand for high performance polymers is estimated to gain further Momentum for demand for Products with Improved Properties. On the other hand, high performance fluoropolymers are priced slightly on the higher side which acts as a restraining factor. Moreover, with the demand for bio-plastics soaring high in recent years, the global high-performance fluoropolymers market is expected to be affected negatively.
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The Global High-Performance Fluoropolymers Market has been segmented based on type, application, and end-use industries.
By type, the Global High-Performance Fluoropolymers Market has been segmented into fluorinated ethylene propylene (FEP), perfluoroalkoxy polymer (PFA), polytetrafluoroethylene (PTFE), polyethylenetetrafluoroethylene (ETFE), and others.
By application, the Global High-Performance Fluoropolymers Market has been segmented into coatings & liner, mechanical parts & component, film, additives, and others.
By end-use industries, the Global High-Performance Fluoropolymers Market has been segmented into aviation & automobiles, electrical & electronics, industrial processing, medical and others.
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By region, the Global High-Performance Fluoropolymers Market has been segmented into North America, Latin America, Asia Pacific (APAC), Europe, and the Middle East & Africa (MEA).
North America has commanded the highest position in the global high-performance fluoropolymers market. Continued demand from the medical as well as the electrical & electronics industry is likely to augment the growth of the market over the forecast period. The U.S., Mexico, Canada, and Guatemala are the key contributors to the North America market.
Latin America market is expected to witness substantial growth over the forecast period due to increasing manufacturing of high-class lab & specific instruments in the region. Colombia, Argentina, Brazil, and Peru are the country-specific markets within the Latin America market.
APAC is poised to showcase relatively faster growth owing to increasing demand for the product from end-use industries such as aviation & automobiles, electrical & electronics among others. Growth of the automotive industry in the region, especially in the emerging economies of China, Vietnam, and India is likely to influence the market growth positively.
The Middle East & Africa market is expected to exhibit moderate growth over the forecast period due to growing investment in the residential as well as commercial construction sector. Saudi Arabia, Qatar and the United Arab Emirates (UAE) are the key contributors to the MEA market.
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- Hubei Everflon Polymer CO.Ltd.
- Shanghai 3F New Materials Co.Ltd.
- DAIKIN INDUSTRIES Ltd.
- The Chemours Company
- Shamrock Technologies
- Gujarat Fluorochemicals Ltd.
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.