AGC (Japan) and Chemours Company (US) are the Key Players in the High Performance Fluoropolymers Market

AGC (Japan) and Chemours Company (US) are the Key Players in the High Performance Fluoropolymers Market

“Browse 119 market data Tables and 42 Figures spread through 166 Pages and in-depth TOC on “High Performance Fluoropolymers Market””
High Performance Fluoropolymers Market by Type (PTFE, FEP, PFA/MFA, ETFE), Form (Granular, Fine Powder & Dispersion), End-use Industry (Industrial Processing, Transportation, Electrical & Electronics, Medical), and Region

The global high performance fluoropolymers (HPF) market size is estimated to be USD 3.1 billion in 2020 and is projected to reach USD 4.3 billion by 2025, at a CAGR of 7.0%, between 2020 and 2025. 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.

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.

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The key players in the HPF market are 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), and Hubei Everflon polymer (China). Expansion is the key growth strategy adopted by key HPF manufacturers. Apart from this, acquisition and new product launch are other strategies adopted by manufacturers between 2015 and 2020.

AGC (Japan) was one of the key players in the HPF market in 2019. It is primarily engaged in the production and marketing of glass, electronic materials, chemicals, and ceramics globally. It has 210 subsidiaries and has a presence in 30 countries across APAC, Europe, North America, South America, and the Middle East & Africa. It has a strong foothold across the APAC region, contributing around 70% of the group’s revenue. The company has adopted organic growth strategies to increase its market share and revenue. For example, in February 2019, the company launched FEP high performance fluoropolymer under its brand AFLAS. This polymer is used majorly in automotive underhood component systems and can withstand an operating temperature of 392OF.

The Chemours Company is one of the leading providers of performance chemicals. It is a pioneer in the fluoropolymers products and has renowned brands, namely, Teflon, Zonyl, and Tefzel, have acquired a significant share in the market. The company has been focusing on organic strategies to maintain its competitive position in the HPF market. In July 2016, the company opened a new Teflon finishes plant at Chemours’ Changshu Works site in Changshu (Jiangsu), China. This expansion was aimed at enhancing the production of various fluoroproducts to cater to the growing demand for HPF in Asia Pacific.

Gujarat Fluorochemicals Limited (GFL) is a market leader in fluoropolymers, industrial gases, chemicals, energy, and entertainment. It was the fourth-largest producer of PTFE globally in 2019 and had sales & distribution network across 50 countries across the globe. The extensive geographical presence helped the company capture a significant market share and maintained its leadership in the high performance fluoropolymers market. It accounted for over 11% of the global fluoropolymer market share with the help of its worldwide presence and 20,000 tons of PTFE production capacity.

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