Fluoropolymer Market 2022 Outlook, Current and Future Industry Landscape Analysis 2031
Increasing consumption of fluoropolymer in industrial processing & application is anticipated to create opportunities for growth of the market. According to a new study by Future Market Insights (FMI), over the assessment period between 2021 and 2031, the market will rise at a CAGR of 5.4%.
A fluoropolymer is characterized by high resistance to
acids, solvents, and bases. Polytetrafluoroethylene (PTFE) is the most
well-known fluoropolymer. It is expected to constitute over half of
fluoropolymer sold globally. Fluoropolymers are widely used in industrial
processing industries for numerous applications such as heat exchanger
coatings, pump impellers, tanks, autoclaves, reaction vessels, flue duct
expansion joints, autoclaves, and among others.
Geographically, East Asia is anticipated to dominate the
market, accounting for more than one third of market value share. The
Fluoropolymer market is estimated to reach a total market value of US$ 12,991.5
Mn by the end of 2031, growing at a rate of 5.3% during the forecast period.
Rising demand from end use industries such as industrial processing as well as
electrical & electronics are the key factors driving the global
Fluoropolymer market during the assessment period.
Due to the COVID -19 crises the automotive and other allied
industries has experienced a substantial decline owing to the restriction on
trade between the regions, shortage of skilled labor, disruption in supply
chain channel and among others. However, the trend is expected to regaining its
growing from first half of estimated year and is expected to continue its boost
in the near future.
“Some of the key players have developed and introduced
risk management and business continuity plans during the pandemic situation by
broadening their supply chains network geographically. These companies have
multi-sourced goods to minimize their dependence on a single supplier, and they
have considered an inventory strategy to mitigate supply chain disruptions,”
says an FMI analyst
Key Takeaways of Fluoropolymer Market Study
- Driven
by application across diverse industries, fluoropolymer market is poised
to reach US$ 12.99 Bn by 2031
- Industrial
growth will support expansion in the U.S., which is expected to account
for over 87% of sales in North America
- Following
a year of set-back in 2020, the U.K. market will recover, exhibiting 3.7%
y-o-y growth in 2021
- Steady
growth in Germany and France is expected as fluoropolymer sales continue
to rise across various industries
- China
will emerge as a lucrative market within East Asia, accounting for over
half of sales registered
Read Full Report - https://www.futuremarketinsights.com/reports/fluoropolymers-market
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