Emerging market for melt-processable fluoropolymers driving the High Performance Fluoropolymers Market

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. The growth of the high performance fluoropolymer industry can be attributed to its high demand from various end-use industry and growing demand from renewables.

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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.

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