The global fluoropolymer tubing market size is projected to grow from USD 513 million in 2021 to USD 662 million by 2026, at a CAGR of 5.2% between 2021 and 2026. Fluoropolymer tubes are extrusions made of inert materials. These tubes have exceptional versatility and a set of unique properties. Various types of fluoropolymer provide different advantages in the applications they are used in. Fluoropolymer tubes exhibit high tensile strength, exceptional chemical & friction resistance, and a high range of workable temperature, among other properties. They are used in industries such as medical, semiconductor, energy, fluid management, chemical processing, general industrial, automotive, and aerospace. Growing geriatric population, increasing use in end-use industries ultimately drives the fluoropolymer tubing market globally.
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COVID-19 has negatively impacted the production and factory operations of various end-use industries such as automotive, electronics, aerospace, and others. Leading manufacturers such as TE Connectivity has faced business complication with its suppliers, distributors, and customers. Moreover, fluctuation in customer orders and cancellations due to unfavorable business scenario due to the pandemic and supply chain disruptions also impacted the fluoropolymer tubing manufacturers. Major players in the market are mitigating the risk through a strong focus on local management and market opportunities.
- In 2020, TE Connectivity has witnessed sales decline of 12.5% due to the pandemic in its transportation solution business segment which provides fluoropolymer tubing products.
- In 2020, PARKER HANNIFIN CORP faced cancellations in shipments and disputes regarding contract terms along with weak demand from end-use industries. Moreover, changes in contract cost and fluctuations in raw material prices has created business complications for the company. The diversified industrial business segment of the company has reported sales declined of 11% due to change in business dynamics during COVID-19 pandemic.
Fluoropolymer tubing market has been segmented into APAC, Europe, North America, South America, and Middle East & Africa. The market in the APAC region is growing due to the rising demand from various end-use industries such as medical, automotive, semiconductor, and energy. Asia Pacific is one of the fastest-developing markets, mainly due to rising population, urbanization, and industrialization.
Major players operating in the global fluoropolymer tubing market are Saint-Gobain (France), Optinova (Finland), TE Connectivity (Switzerland), Teleflex Inc. (US), Tef-Cap Industries (US), Zeus Industrial Products (US), Fluorotherm (US), AMETEK (US), Parker Hannifin (US), Swagelok (US) and Adtech (UK).
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