High performance fluoropolymers are finding increasing acceptance in various end-use industries, such as industrial processing, transportation, medical, electronics, etc. The growth of the HPFs market is expected to be fueled by the rising demand from end-user industries due to the rapid growth in automotive, electrical & electronic, and medical industries. High performance fluoropolymers provide increased performance, high durability, weatherability, abrasion resistance, excellent di-electric, and high thermal resistance properties for various applications in these industries.
This report estimates the market size for HPFs by type, end-use industry, and region, in terms of value and volume. The HPFs market is projected to grow at a CAGR of 6.6% between 2017 and 2022, in terms of value. The growth is attributed to the increasing applications, technological advancements, and growing demand in the emerging countries.
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The developed regions, such as Europe and North America, are relatively mature markets as compared to Asia Pacific and Rest of the World. Asia Pacific is projected to witness the highest growth rate between 2017 and 2022, owing to the increasing demand from the automobile & transportation, electrical & electronics, and chemical processing sectors in the economies such as China and Japan. The market in this region is experiencing an increase in the demand for HPFs from industrial processing, electrical & electronics, and transportation end-use industries. In addition, China has been an export-oriented country; however, the growing domestic demand is expected to increase the domestic consumption of HPFs in the country.
Among end-use industry segments, the electrical & electronics industry is projected to witness the highest growth rate between 2017 and 2022. The growth is driven by the increasing use of HPFs in wire coating, cable coating, fiber optics, and electrical systems in aircraft, computers, etc., as they offer excellent electrical insulation properties under harsh conditions such as high temperatures and aggressive chemicals.
Among type segments, the FEP type is projected to witness the highest growth rate between 2017 and 2022. The growth is driven by the increasing usage of FEP in electrical & electronics, especially in wire & cable, semiconductor, and telecommunication applications for high speed data transfer and networking.
The emerging market for melt-processable fluoropolymers (FEP, PFA, and ETFE) is expected to provide growth opportunities for the HPFs market owing to their significant demand from emerging applications such as photovoltaic modules and architectural membranes. Thus, the market players could focus on increasing the production of melt-processable fluoropolymers to compete in the market.
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