Fluoropolymer Films Market Developed Methodology, Important Players, and Geographical Analysis by Forecast to 2030
The global fluoropolymer films market size is projected to enter a period of dynamic expansion on account of rising demand for fluoropolymer coatings in the automotive industry, states Fortune Business Insights™ in its report, Carmakers are constantly taking efforts to enhance the value of their product. One of the key elements in upholding the value of a vehicle is through building internal components that can withstand high temperatures, corrosion, and have a long shelf-life. As a result, auto manufacturers extensively utilize fluoropolymer films. For example, many vehicle manufacturers use these materials to coat tank valves, sensors, seals, and hoses in a car’s fuel system. Similar protection is provided for powertrains, wherein components such as valve stem seals, piston rings, and internal shift seal rings are glazed with fluoropolymer solutions. Thus, increasing adoption of these films in the automobile sector is expected to fuel the market growth in the coming years.
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Highlights of the Report:
- Detailed examination of the key market trends, drivers, and restraints;
- Microscopic analysis of the market segments;
- Careful study of the regional developments impacting market dynamics; and
- Comprehensive profiling and assessment of the major industryplayers and their key strategies.
Increasing Plastic & Chemical Pollution Worldwide May Hinder Market Growth
One of the main hindrances obstructing the fluoropolymer films market growth is the increasing levels of plastic and chemical pollution across the globe. According to the UK-based marine conservation group, Surfers Against Sewage, global plastic waste is set to reach 640 million tons by 2034, with 8 million pieces of plastic finding their way into the oceans on a daily basis. Not only are fluoropolymer films and other synthetic plastics harming marine ecosystems, they are also detrimental for human health. The International Agency for Research on Cancer (IARC), part of the WHO, has deemed perfluorooctanoic acid (PFOA) as a possible carcinogen. Citing the consequences of this chemical on humans, UN experts are recommending that it should be added to the Stockholm Convention on Persistent Organic Pollutants. Global movement towards reducing plastic pollution may, therefore, hamper the growth of this market in the long run.
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Evolving Electronics Industry in Asia Pacific to Propel the Market
Among regions, Asia Pacific is expected to dominate the fluoropolymer films market share in the near future on account of rapid transformations in the regional electrical & electronics industry. China is leading the regional market as it has grown into a hub of consumer electronics and other electrical equipment. In North America and Europe, the market is anticipated to perform impressively owing to escalating demand for synthetic polymers from the pharmaceutical industry. This demand is expected to surge as the COVID-19 pandemic continues it rampage across these regions. In the Middle East & Africa, the market growth will be premised on the increasing adoption of fluoropolymer films in the automotive and electronics industries.
Collaborations Aimed at Sustainability to Enhance Competitiveness among Players
The competition dynamics of this market is defined by the activities of some of the largest chemical engineering companies in the world. These companies are making massive investments in R&D to develop polymers and chemicals that can further the cause of sustainable development. Other players are solely focused on innovating and launching novel products for end-use industries.
- April 2020: BASF entered into a definite agreement with Security Matters, Ltd to engineer plastic solutions to advance the movement towards circular economy. The partnership will be aimed at efficient recovery and reuse of plastic, which will in turn contain plastic pollution.
- November 2019: 3M introduced its path-breaking 3D printing technology that uses fluoropolymers developed by the company. The novel technology will enable creation of polytetrafluoroethylene(PTFE)parts of different complexities and geometries with greater efficiency compared to regular additive manufacturing techniques.
List of Players Covered in the Fluoropolymer Films Market Report:
- Chukoh Chemical Industries, LTD.
- Rogers Corporation
- Textiles Coated International (TCI)
- Daikin Industries Ltd.
- The Chemours Company
- Polyflon Technology
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