The high performance fluoropolymer (HPF) market is projected to grow from USD 3.1 billion in 2020 to USD 4.3 billion by 2025, at a CAGR of 7.0% during the forecast period. HPF is used mainly in industrial processing, transportation, electrical & electronics, and medical, among others. It is used for manufacturing various products such as coatings, films, membranes, tubes, wire & cable, seals, gaskets, liner, mechanical parts, and many others in these industries. High chemical & temperature resistance, excellent dielectric properties, and lightweight are some of the characteristics owing to which the demand for high performance fluoropolymers is high in industrial processing segment.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=497
Melt-processable fluoropolymers are based on copolymer resins: FEP, ETFE, PFA, MFA, PVDF, ECTFE, and PCTFE, which can be processed into different shapes. The polymerization and fabrication techniques for these fluoropolymers include injection molding, wire, tube, and film extrusion, rotational molding, blow molding, compression molding, and transfer molding. ETFE, FEP, and PCTFE are thermoplastic. Thermoplastics are polymers that liquefy when heated and solidify when cooled down. The cycle of melting and freezing can be recurrent.
HPFs are mainly used for extreme temperature applications in various end-use industries, such as industrial processing, transportation, electrical & electronics, medical, and others. They are also useful for a wide range of other applications, which include consumer goods, machine parts, medical equipment, and packaging and storage materials. They are becoming the material of choice and replacing the traditional materials, such as steel, aluminum, and wood, as they are melt processable and thermoplastic. In comparison to other traditional materials, melt-processable fluoropolymers have higher chemical and impact resistance as well as higher strength-to-weight ratios. They also offer greater design flexibility in comparison to traditional materials. The melt-processable thermoplastic fluoropolymers market is projected to witness higher growth than PTFE during the forecast period, owing to the significant demand from emerging applications, such as photovoltaic modules and architectural membranes. When compounded with fillers, pigments, and other additives, these fluoropolymers gain higher functionality and improved characteristics to be suitable for applications, such as wire & cable; semiconductor and electronic components; valves, fittings, and pump housings; tubing and pipe; and specialty films. This will further enhance the growth prospects of the HPFs market worldwide.
APAC is expected to be the fastest-growing market for HPF, owing to the presence of large manufacturing and highly populated countries, such as China and India. China, India, Japan, Indonesia, and South Korea are some of the key countries in the HPF market in this region. In 2019, China accounted for the largest share of the APAC market, owing to the presence of huge chemical, automotive, medical, and electronics industries. The growing production of automobiles, consumer household, medical disposables, and their increasing demand across the region boosts the demand for HPF. Growth in the manufacturing of automobiles and electronics hardware across the region is expected to grow further with changing demographics. Owing to which APAC is projected to be the fastest-growing HPF market.
The recent COVID-19 pandemic is expected to impact the global manufacturing sector. COVID-19 led the manufacturing sector into an unknown operating environment, globally. Government restrictions on the number of people that can gather at one particular place, severely impacted the industrial output. HPFs are used in end-use industries such as transportation, electrical & electronics, medical, food processing, chemical processing, oil & gas, power plants, and building & construction. They are used in the industrial processing, where high thermal and chemical resistance is essential to conduct the operation. Due to the ongoing pandemic, industrial production has been severely affected throughout the world. Workforce shortage, logistical restrictions, material unavailability, and other restrictions have drastically slowed the growth of the industry.
Request for Sample Report: https://www.marketsandmarkets.com/requestsampleNew.asp?id=497
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, and strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Company Name: MarketsandMarkets
Contact Person: Mr. Aashish Mehra
Email: Send Email
Address:630 Dundee Road Suite 430
State: IL 60062
Country: United States