COVID-19 impact on Global High Performance Fluoropolymers Market

The high-performance fluoropolymer (HPF) market is projected to grow from USD 3.7 billion in 2021 to USD 5.1 billion by 2026, at a CAGR of 6.8% during the forecast period. The growth of the high-performance fluoropolymers industry can be attributed to its high demand from various end-use industry and growing demand from renewables.

HPF are used in end-use industries such as transportation, electrical & electronics, medical, food processing, chemical processing, oil & gas, power plants, and building & construction. They are used in the industrial processing, where high thermal and chemical resistance is essential to conduct the operation. Due to the ongoing pandemic, industrial production has been severely affected throughout the world. Workforce shortage, logistical restrictions, material unavailability, and other restrictions have drastically slowed the growth of the industry.

To know about the assumptions considered for the study download the pdf brochure

COVID-19 has led the industrial and manufacturing sectors into an unknown operating environment globally. Government restrictions on the number of people that can gather at one place have severely impacted the sector. For example, the component manufacturing sector is heavily hit by the impact of the virus. The production and factory operations in the automotive, electronics, and aerospace are on halt. Most of the industries are dependent on China for raw material supply. Hence, supply chain disruptions also have a major impact on industrial output. The global economy contracted due to the pandemic but since most of the economies have opened, there is a rise in the industrial output in various sectors and may get completely recovered in coming years.

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 2020, 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.

The recent COVID-19 pandemic is expected to impact the global manufacturing sector. COVID-19 led the manufacturing sector into an unknown operating environment, globally. Government restrictions on the number of people that can gather at one place, severely impacted the industrial output. HPF are used in end-use industries such as transportation, electrical & electronics, medical, food processing, chemical processing, oil & gas, power plants, and building & construction. They are used in the industrial processing, where high thermal and chemical resistance is essential to conduct the operation. Due to the ongoing pandemic, industrial production has been severely affected throughout the world. Workforce shortage, logistical restrictions, material unavailability, and other restrictions have drastically slowed the growth of the industry. The economies have now opened, and industrial production has started to recover. It is expected to further grow when the economies get stabilized from the pandemic effect.

Most active players in the HPF market:

The Chemours Company (US), Daikin Industries (Japan), 3M (US), Solvay (Belgium), AGC, Inc. (Japan), The Dongyue Group (China), GFL Limited (India), Fluoroseals SpA (Italy), Halopolymer (Russia), and Hubei Everflon polymer (China) are a few active players in the HPF market.

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High-Performance Fluoropolymers Market Driver: High growth in end-use industries

The high-performance fluoropolymer (HPF) market is projected to grow from USD 3.7 billion in 2021 to USD 5.1 billion by 2026, at a CAGR of 6.8% during the forecast period. The growth of the high-performance fluoropolymers industry can be attributed to its high demand from various end-use industry and growing demand from renewables.

The transportation (automotive and aerospace), electrical & electronics, industrial processing, and medical industries extensively use HPF due to their advantages over other polymers and versatile properties. These industries are growing rapidly, which is boosting the demand for HPF. High heat resistance, low weight, high dimensional stability, and good chemical resistance are increasing the demand for HPF in the automotive industry. HPF are used in various parts of engines to improve the performance and durability of vehicles. They are used to manufacture different interior and exterior components in the automotive and aerospace sectors. The growth opportunities of the HPF market in the automotive industry are primarily linked to lower emissions and increased fuel efficiency. In the aerospace industry, it is important to use a material, which is fire-retardant and emits low smoke and toxic gases. The various applications in this industry require HPF that can withstand aggressive application conditions under a broad range of temperatures. In aerospace engineering, lightweight materials are highly used, and thus, the aerospace industry is dependent on HPF that have the perfect combination low weight; temperature, flame, abrasion, and chemical resistance; and flexibility, and non-leaching capabilities.

To know about the assumptions considered for the study download the pdf brochure

Effective dielectric property, biocompatibility, and lubricity of HPF are leading the way for their adoption in medical surgeries and other procedures. HPF are used in the production of multi-lumen tubing, which is required for the manufacturing of minimally-invasive devices. Because of high-resistance toward chemicals and heat, they are used in implants for the hip, ear, skull, nose, and knee parts. The growing use of HPF in various applications, such as catheters, syringes, sutures, and bio-containment vessels, is driving the market. Some industries are entirely dependent on HPF, for instance, the semiconductor industry. This is because a fluoropolymer is the only material that can hold and transport the chemicals used in the semiconductor production process.

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 2020, 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 households, 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.

The Chemours Company (US), Daikin Industries (Japan), 3M (US), Solvay (Belgium), AGC, Inc. (Japan), The Dongyue Group (China), GFL Limited (India), Fluoroseals SpA (Italy), Halopolymer (Russia), and Hubei Everflon polymer (China) are a few active players in the HPF market.

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APAC is projected to be the fastest-growing High Performance Fluoropolymers Market

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.

To know about the assumptions considered for the study download the pdf brochure

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.

Key Market Players

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) are the key players operating in the HPF market.

These companies have adopted various organic as well as inorganic growth strategies between 2015 and 2020 to strengthen their positions in the market. Expansion is the key growth strategy adopted by these leading players to enhance regional presence and develop product portfolios to meet the growing demand for HPF from emerging economies.

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.

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

 

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.

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.

To know about the assumptions considered for the study download the pdf brochure

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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Growth of the high performance fluoropolymer industry can be attributed to its high demand from various end-use industry

The transportation (automotive and aerospace), electrical & electronics, industrial processing, and medical industries extensively use High Performance Fluoropolymers due to their advantages over other polymers and versatile properties. These industries are growing rapidly, which is boosting the demand for HPFs. High heat resistance, low weight, high dimensional stability, and good chemical resistance are increasing the demand for HPFs in the automotive industry. HPFs are used in various parts of engines to improve the performance and durability of vehicles. They are used to manufacture different interior and exterior components in the automotive and aerospace sectors. The growth opportunities of the HPFs market in the automotive industry are primarily linked to the lower emissions and increased fuel efficiency. In the aerospace industry, it is important to use a material, which is fire-retardant and emits low smokes and toxic gases. The various applications in this industry require HPFs that can withstand aggressive application conditions under a broad range of temperatures. In aerospace engineering, lightweight materials are highly used, and thus, the aerospace industry is dependent on HPFs that have the perfect combination low weight; temperature, flame, abrasion and chemical resistance; and flexibility and non-leaching capabilities.

Effective dielectric property, biocompatibility, and lubricity of HPFs are leading the way for their adoption in medical surgeries and other procedures. HPFs are used in the production of multi-lumen tubing, which is required for manufacturing of minimally-invasive devices. Because of high-resistance toward chemicals and heat, they are used in implants for the hip, ear, skull, nose, and knee parts. The growing use of HPFs in various applications, such as catheters, syringes, sutures, and bio-containment vessels, is driving the market. Some industries are entirely dependent on HPFs, for instance, the semiconductor industry. This is because a fluoropolymer is the only material that can hold and transport the chemicals used in the semiconductor production process.

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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.

The recent COVID-19 pandemic is expected to impact the global manufacturing sector. COVID-19 led the manufacturing sector into an unknown operating environment, globally. Government restrictions on the number of people that can gather at one particular place, severely impacted the industrial output. HPFs are used in end-use industries such as transportation, electrical & electronics, medical, food processing, chemical processing, oil & gas, power plants, and building & construction. They are used in the industrial processing, where high thermal and chemical resistance is essential to conduct the operation. Due to the ongoing pandemic, industrial production has been severely affected throughout the world. Workforce shortage, logistical restrictions, material unavailability, and other restrictions have drastically slowed the growth of the industry.

The Chemours Company (US), Daikin Industries (Japan), 3M (US), Solvay (Belgium), AGC (Japan), The Dongyue Group (China), GFL Ltd. (India), Halopolymer OJSC (Russia), and Hubei Everflon polymer (China) are a few active players in the HPF market.

Don’t miss out on business opportunities in High Performance Fluoropolymers Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

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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COVID-19 impact on Global 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%. 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.

The high performance fluoropolymers are used mainly in the industrial processing. COVID-19 has severely impacted this industry

HPFs are used in end-use industries such as transportation, electrical & electronics, medical, food processing, chemical processing, oil & gas, power plants, and building & construction. They are used in the industrial processing, where high thermal and chemical resistance is essential to conduct the operation. Due to the ongoing pandemic, industrial production has been severely affected throughout the world. Workforce shortage, logistical restrictions, material unavailability, and other restrictions have drastically slowed the growth of the industry.

COVID-19 has led the industrial and manufacturing sectors into an unknown operating environment globally. Government restrictions on the number of people that can gather at one place have severely impacted the sector. For example, the component manufacturing sector is heavily hit by the impact of the virus. The production and factory operations in the automotive, electronics, and aerospace are on halt. Most of the industries are dependent on China for raw material supply. Hence, supply chain disruptions also have a major impact on industrial output. The global economy is contracting due to the pandemic.

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APAC is projected to be the fastest-growing HPF market

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.

The recent COVID-19 pandemic is expected to impact the global manufacturing sector. COVID-19 led the manufacturing sector into an unknown operating environment, globally. Government restrictions on the number of people that can gather at one particular place, severely impacted the industrial output. HPFs are used in end-use industries such as transportation, electrical & electronics, medical, food processing, chemical processing, oil & gas, power plants, and building & construction. They are used in the industrial processing, where high thermal and chemical resistance is essential to conduct the operation. Due to the ongoing pandemic, industrial production has been severely affected throughout the world. Workforce shortage, logistical restrictions, material unavailability, and other restrictions have drastically slowed the growth of the industry.

Most active players in the HPF market:

The Chemours Company (US), Daikin Industries (Japan), 3M (US), Solvay (Belgium), AGC (Japan), The Dongyue Group (China), GFL Ltd. (India), Halopolymer OJSC (Russia), and Hubei Everflon polymer (China) are a few active players in the HPF market.

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High performance fluoropolymers market Along with Business Insights, Trends and Forecast 2023

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.

To know about the assumptions considered for the study, download the pdf brochure

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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