The global fluoropolymersmarket size was valued at USD 7.92 billion in 2023 and is projected to growfrom USD 8.32 billion in 2024 to USD 12.63 billion by 2032, exhibiting a CAGR
of 5.4% during the forecast period. Fortune Business Insights™provides this information in its report, titled, “Fluoropolymers Market,2021-2028.”
According to ourresearchers, surging applications in construction, medical,electrical & electronics industries, automobiles, and chemical industries due
to its elevated chemical and electrical resistance, non-stick, non-toxic, and
outstanding ductile forte characteristics are expected to fuel the global
fluoropolymers market growth.
COVID-19 Pandemic:Market Set to Witness Growth Stoked by Medical Device Necessity
The industry wasaffected owing to the COVID-19 outbreak, a few of the major players in the
chemical industry were compelled to adjourn their production. Nevertheless, the
industry perceives prompt growth during the outbreak as medical device producers
are manufacturing more products at a speedier pace.
Moreover, lubricity,the dielectric, and biocompatibility characteristics of the polymer are required
to manufacture Personal Protection Equipment (PPE).
Report Coverage
The report presentsa systematic study of the fluoropolymers market segments and a thorough
analysis of the market overview. It offers a thoughtful evaluation of the
current market trends and future opportunities. Moreover, it presents an
exhaustive analysis of the regional insights and how they help form market
growth. The COVID-19 impacts have been discussed in the report to assist
investors and business owners in better understanding the possible threats
present in the market. The report discusses the key players and their prominent
strategies to stay in the dominating position.
Segmentation
On the basis of product, the global market is segregated intopolytetrafluoroethylene (PTFE), polyvinylidene fluoride (PVDF), fluorinated
ethylene propylene (FEP), polyvinylfluoride (PVF), and others.
Drivers and Restraints
Rising Automobile Industry to Create Novel Market Prospects
The upsurge in disposableincome, increasing R&D spending for the automobile sector, growing traffic jamming,
and stringent government norms concerning plummeting carbon releases are the vital
influences fueling the demand for fluoropolymers from the automotive industry.
Regional Insights
Asia Pacificheld the maximum fluoropolymers market shares, and the growth of this region is
accredited to the surging demand from pharmaceutical, electrical industries,
and construction sectors in this region.
North America isestimated to observe substantial growth due to rising demand from the
electrical & electronics, and aerospace industries. As producers and
designers endure to invent electronic devices, the demand for these products is
rewarding.
Europe is predictedto perceive considerable growth during the forecast period. The region is accredited
with rising demand from the automotive industry. Europe is among the world's dominating
producers of motor automobiles and signifies the largest private stakeholder in
R&D.
