Luton, Bedfordshire, United Kingdom, March 10, 2023 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Fluoropolymer Films Market.
The global fluoropolymer films market is expected to grow at a 12.07% CAGR from 2023 to 2029. It is expected to reach above USD 3.15 billion by 2029 from USD 1.13 billion in 2022.
Fluoropolymer films are produced from a fluoropolymer which is a fluorocarbon-based polymer that is constructed using multiple carbon-fluorine bonds and is highly characterized by a high resistive power of solvent, acids, and bases. The best-known fluoropolymer is referred to as polytetrafluoroethylene. They contain highly conductive properties such as chemical inertness, superior dielectric properties, optical properties, UV and weather resistance, and a low coefficient of friction.
Download a Comprehensive PDF Sample of Fluoropolymers Market
Recent developments:
- Arkema has revised its previously stated 35% fluoropolymer capacity expansion at its Changshu location in China upward to a capacity increase of 50% in January 2022. Due to the robust demand for lithium-ion batteries and other key markets,
- AGC Chemicals Americas launched the Fluon+ EM-20010 compounds in March 2021. The formulation of Fluon+ EM-20010 compounds include a specialized ingredient that securely inhibits bacterial and viral growth in addition to melt-processible copolymers made of ethylene and tetrafluoroethylene (ETFE).
- Daikin America, Inc. announced in September 2019 that it would invest up to $195 million to expand its Decatur, Alabama operations. It was anticipated that this expansion will increase the ability to produce polymers as well as related monomers, improve the infrastructure, and enable Research and Development (R&D). The building process started in January 2020.
Rapid Expansion of Solar Photovoltaic (PV) Modules Are Affecting Market Growth
Growth in the deployment of solar PV modules across the globe has been phenomenal over the last decade. Supported by various government and non-government organizations to increase the share of renewable resources in overall electricity generation, solar energy is gaining traction at a large scale among both, developed and developing countries.
The annual market for solar PV modules in 2022 was nearly ten times as compared to a decade earlier. Fluoropolymer films are used as protective front sheets for solar modules. They provide good physical characteristics, such as smoothness, lightweight, and flexibility along with providing superior power output, due to which they are gaining popularity among end-users.
Asia Pacific market accounted for a 39% revenue share in the global market in 2022
APAC expected to register faster revenue CAGR than other regional markets over the forecast period. This can be attributed to growing population, rising disposable income, and increasing number of construction projects, and rapidly growing automotive sector in countries in the region.
Fluoropolymer Films Market Trend
One of the major fluoropolymer films market trends fostering market expansion is the creation of novel goods. A sulphur compound, which is typically absent from traditional fluoropolymer films, is found in the novel fluoropolymer films. These fluoropolymer sheets can be applied to a number of potentially quick-growing sectors, including lubricants, advanced coatings, and optics. During the projection period, these could lead to an increase in the number of uses in the global fluoropolymers market. Additionally, some suppliers have introduced fluoropolymer film versions that were 3D printed. For instance, 3M recently introduced a new 3D-printed PTFE that will help the business create PTFE components with intricate details and complicated geometries that are unattainable using traditional processing or production methods.
Construction and energy industries are likely to grow market opportunities for fluoropolymer films.
In the construction sector, films are used in cladding applications such as roofing and facade construction. These films are widely used in classic applications, as well as long-span constructions and building facades. These films are also used to protect a variety of building substrates against excessive corrosion, weather, fading, and cracking. Apart from that, because they are lighter and more energy-efficient than glass, these films are employed in the construction of greenhouses. Fluoropolymer films are becoming one of the top materials in the building industry due to their transparency, ease of cleaning, durability, and flexibility. Because of their flexibility, ETFE (Ethylene Tetrafluoroethylene) films are ideal for building applications. These films can be used in single, double, or triple layers. ETFE films are employed in high-profile architectural projects and international sports stadiums.
Increased sales of semiconductors, flexible printed circuits, cables, and wires will boost the market value of fluoropolymer films.
The development of next-generation drug containers for improving barrier resistance in cap liners, drug delivery systems, and plunger laminates will greatly expand the commercial applicability of fluoropolymer films in pharmaceutical packaging. Furthermore, cryogenic preservation, coated surgical tools, and cell culture bags used in the healthcare industry necessitate high performance materials with excellent biocompatibility. Fluoropolymer coatings improve chemical resistance and increase the cleanliness of medical and pharmaceutical equipment. These patterns indicate that the product will generate significant income from the pharmaceutical business in the next years.
Report Scope:
| Report Attribute | Details |
| Market Size in 2029 | USD 3.15 billion by 2029 |
| CAGR | 12.07% (2023–2029) |
| Base Year | 2021 |
| Forecast Period | 2023–2029 |
| Historical Data | 2022 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Technology, Product, End-User, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers |
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Fluoropolymer Films Market Players
From large companies to small ones, many companies are actively working in the fluoropolymer films market. These key players include 3M, DuPont, DAIKIN INDUSTRIES, Ltd., The Chemours Company, Saint-Gobain Performance Plastics, Nitto Denko, Honeywell International, DUNMORE, Guarniflon, AGC Chemicals, Textiles Coated International, Rogers Corporation and others.
Companies are mainly in fluoropolymer films they are competing closely with each other. Innovation is one of the most important key strategies as it has to be for any market. However, companies in the market have also opted for and successfully driven inorganic growth strategies like mergers & acquisitions, and so on.
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Key Market Segments: Fluoropolymer Films Market
Fluoropolymer Films Market by Type, 2023-2029, (USD Millions)
- Polytetrafluoroethylene (PTFE) Films
- Polyvinylidene Fluoride (PVDF) Films
- Fluorinated Ethylene Propylene (FEP) Films
- Perfluoroalkoxy Polymer (PFA) Films
- Ethylene Tetrafluoroethylene (ETFE) Films
Fluoropolymer Films Market by Application, 2023-2029, (USD Millions)
- Electrical & Electronics
- Industrial
- Automotive & Aerospace
- Medical & Pharmaceutical
- Consumer Products
Market Dynamics:
Driver: Increasing use of fluoropolymer films in medical application
Fluoropolymer films are widely used in medical applications such as medical release liners, cap liners stoppers, surface protection, fluid bags, orthopedics, implants, and prosthetics due to its excellent resistance to chemicals, extreme temperatures, and UV rays. This is one of the primary drivers of the demand for fluoropolymer films and the expansion of the market's income. Rapid technical development and rising demand for bio-compatible materials in medical uses are a couple of other important factors that are anticipated to support market revenue growth in the future.
Restraint: High price of fluoropolymer films
The high cost of fluoropolymer films because of the need for costly raw materials and processing techniques is a major factor that could restrain the market's ability to expand in terms of revenue. Furthermore, it is anticipated that the fluoropolymer production process' intricacy will somewhat restrain revenue development.
Key Question Answered
- Who are the major players in the Polytetrafluoroethylene market?
- What are the regional growth trends and the largest revenue-generating regions in the Polytetrafluoroethylene market?
- What are the major drivers and challenges in the Polytetrafluoroethylene market?
- What are the major application segments in the Polytetrafluoroethylene market?
- What is the major end uses in the Polytetrafluoroethylene market?
Explore Exactitude Consultancy’s Extensive Ongoing Coverage in the Chemicals & Materials Domain
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