Fluoropolymer Additives Market Is Boosted by the Rapid Trend toward Ecologically Friendly Products
PUNE, India, March 30, 2023 /PRNewswire/ — Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Fluoropolymer Additives Market
The market for fluoropolymers additives market was valued at USD 1.35 billion in 2020, and is predicted to reach at USD 2.22 billion in 2029 grow at a CAGR of 5.7 % over the forecast period.
Fluoropolymers additives are used to modify the surface properties of a plastic or elastomer. Additives are used to incorporate the specific properties to the final products. The global fluoropolymer additives market is majorly driven by increasing demand for the fluoropolymer additives from various sectors, rising demand for the coating products, increasing demand for the automotives. Increasing demand for coatings application owing to its excellent weather ability have driven the fluoropolymer additives market size. Increasing investments in construction sector along with development in urbanization is likely to industry growth increasing the demand for fluoropolymers additives market; driving the market growth.
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Recent Developments
DuPont is one of the world’s largest producers of chemicals and science-based products. Headquartered in Wilmington, Delaware, DuPont is responsible for developing innovative materials such as Teflon, Mylar, Dacron, Lycra, and Orlon.
Daikin Industries Ltd (Daikin) is a manufacturer of air conditioners and refrigerants. It provides a wide range of products and technologies related to air-conditioning, refrigeration systems, oil hydraulics, defense systems, chemicals, and other electronics.
Eastman is a global specialty chemical company that produces a broad range of advanced materials, additives and functional products, specialty chemicals, and fibers that are found in products people use every day.
Arkema is scheduled to inflate its fluoropolymer production capabilities in the Changshu site situated in China by around 35% by 2022. This novel investment is probable to enhance the demand of Li-ion battery business and develop prospects in the semiconductor, construction coatings, and water filtration industries.
Asia-Pacific held the 42% share of the global fluoropolymer additives market in 2022
Asia Pacific, which is led by China, India and Japan, may have significant growth by 6.4% by the end of 2029. Fluoropolymer additives are expected to grow. In the region the demand for residential and commercial buildings, which has boosted the lacquer industry, has been increasing significantly. They are used for the durability, weather resistance and economic feasibility of infrastructure coatings.
In the predicted timeframe, Europe’s market demand of fluoropolymer additives led by Germany, the UK, France and Italy may anticipate growth of almost 5.4 %. Increasing demand for light thermoplastics for their superior properties such as electrical anti-friction and climate stability in the automotive industry will stimulate growth in the regional market. Substituting metal components with thermoplastics improves efficiency significantly and minimizes fuel costs. The demand for fluoropolymer additives in the industry should be increased by environmental concerns with regard to carbon emissions and increased consumer awareness on thermoplastics.
Fluoropolymer Additives Market – Driving Factors
Extensive use of Fluoropolymer Additives in the production of Printing Inks is a key growth factor.
Expansion of the global Thermoplastics industry in emerging economies is contributing to critical growth opportunities.
Characteristics including weather stability, chemical resistance, and thermal properties bolster scope of application in multiple verticals.
Fluoropolymer Additives Market – Leading Constraints
Strict regulations governing the production and application of Fluoropolymer Additives is a key challenge to market growth.
Risks of perfluorooctanoic acid contamination in coating applications hurts market prospects.
Fluoropolymer Additives Market – Opportunity
Spending on construction and infrastructure development initiatives should be increased.
Developing recyclable substitutes.
The growing need for lightweight thermoplastic materials as metal alternatives and structural coatings in the construction industry is expected to drive the global fluoropolymer additives market forward.
Chemical and heat resistance, low coefficient of friction, and high tensile strength are all essential characteristics of fluoropolymer additives, which improve the look of end-use goods including coatings, coaxial cables, and insulation wires.
Fluoropolymer additives market size should be driven by rising demand for coatings application due to its excellent weatherability and improved time between recoats, extending the life cycle of exterior coatings.
Market growth is expected to be fuelled by increased investments in the building and construction industry, as well as increased plastic adoption in the automobile industry.
Increased penetration in the metals, paints, construction, and bedding and furniture industries is expected to drive the fluoropolymer coating additives market.
Similarly, the growing need for and uses of fluoropolymer additives in the coatings and thermoplastics industries are likely to fuel demand and propel the worldwide fluoropolymer additives market forward.
The global market of fluoropolymer additives is expected to witness new growth opportunities as a result of the industry’s constant attempts to use fluoropolymer in new applications.
The fast trend toward environmentally friendly products, as well as increased use of fluoropolymer coating additives in the furniture and paints & coatings industries, are expected to drive the fluoropolymer additives market forward.
Fluoropolymer Additives Market Report Scope
|
Report Attribute |
Details |
|
Market size value in 2022 |
USD 1.35 billion in 2022 |
|
Revenue forecast in 2029 |
USD 2.22 billion in 2029 |
|
Growth rate |
CAGR of 5.7% from 2023 to 2029 |
|
Base year for estimation |
2022 |
|
Historical data |
2018 – 2022 |
|
Forecast period |
2023 – 2029 |
|
Quantitative units |
Volume in kilo tons, revenue in USD million and CAGR from 2023 to 2029 |
|
Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
|
Segments covered |
Product, application, region |
|
Regional scope |
North America; Europe; China; Asia; Pacific; Central & South America; MEA |
|
Key Market Drivers |
Increasing regional government investments in industrial development. |
Competitive Stance
A variety of market players such as A & A Thermal Spray Coatings, Flame Spray Coating Company, Metallization Limited, AMETEK Inc., Praxair S.T. Technology, Inc., DuPont, Dow, The Chemours Company, Eastman Company, Akzo Nobel N.V., ELEMENTIS PLC, BASF SE, BYK-Chemie GmbH, The Lubrizol Corporation, Momentive, Ashland, Cabot Corporation, Solvay, Arkema, and DAIKIN INDUSTRIES, Ltd., among other are consolidating their global fluoropolymer additives market share. Manufacturers focus on new innovative products for the purpose of expanding their line of products and involving new customers. In addition, most industry participants expand their regional reach and concentrate on acquisitions to increase their strategic business line.
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Key Market Segments: Fluoropolymer Additives Market
Fluoropolymer Additives Market By Product, 2023-2029, (USD Million) (Thousand Units)
Polytetrafluoroethylene Micro Powders
Fluorinated Ethylene Propylene Micro Powders
Perfluoro Alkoxy Micro Powders
Fluoropolymer Additives Market By Application, 2023-2029, (USD Million) (Thousand Units)
Printing Inks
Coatings
Lubricants & Grease
Thermoplastics
Elastomers
Fluoropolymer Additives Market: Important Evolution Dynamics
Increasing demand for light weight plastics along with growing investments in building & construction activities should stimulate fluoropolymer additives market growth. These additives offer high resistance to corrosion, chemicals, UV rays, require low maintenance cost and provides superior temperature resistance which makes them suitable for use in harsh temperature surroundings. Rising demand for high-performance plastics along with increasing penetration in automotive and infrastructure development are likely to boost product demand.
The increasing demand for premium thermoplastics across a range of end-use sectors is one of the key reasons generating lucrative product development opportunities in the fluoropolymer additives market. Electronics and semiconductor, automotive, transportation, and construction are a few of the important end-use industries. An illustration of this is the use of fluoropolymer compounds in the production of lightweight thermoplastics, which are in high demand for use in the car industry. Another case in point is impact-resistant cold-weather plastics that find use in exceedingly low-temperature uses.
Printing inks are another application that could pave the way for substantial earnings. Lucrative prospects have also been supported by the expanding demand for resins with high performance characteristics in the plastics manufacturing industries. By altering the properties of resins, additives encourage their use in toughening and promoting adhesion. In this respect, perfluoroalkoxy (PFA) fluoropolymer additives have increased in favour in recent years. Massive study into creating new resins is likely to be the driving force behind the creation of novel products.
Key questions answered in the report include:
What will the market size and the growth rate be in 2023-2029?
What are the key factors driving the Fluoropolymer Additives Market?
What are the key market trends impacting the growth of the Fluoropolymer Additives Market?
What are the challenges to market growth?
Who are the key vendors in the Fluoropolymer Additives Market?
What are the market opportunities and threats faced by the vendors in the Fluoropolymer Additives Market?
Trending factors influencing the market shares of the Americas, APAC, Europe, and MEA.
Explore Wide-ranging Coverage of Exactitude Consultancy’s Chemicals & Materials Landscape
Fluoropolymer Films Market by Type (Polytetrafluoroethylene (PTFE) films, Polyvinylidene fluoride (PVDF) films, Fluorinated Ethylene Propylene (FEP) films, Perfluoroalkoxy Polymer (PFA) films, Ethylene Tetrafluoroethylene (ETFE) films), Application (Electrical & Electronics, Industrial, Automotive & Aerospace, Medical & Pharmaceutical, Consumer Products) Region (North America, Asia Pacific, Europe, South America, Middle East & Africa), Global Trends and Forecast from 2023 to 2029
Fluoropolymer Additives Market by Product (Polytetrafluoroethylene Micro powders, Fluorinated Ethylene Propylene Micro powders, Perfluoro alkoxy Micro powders), Application (Printing Inks, Coatings, Lubricants & Grease, Thermoplastics & Elastomers) and Region, Global trends and forecast from 2023 to 2029
Fluorochemicals Market by Product (Fluorocarbons, Fluoropolymers, Inorganics & Specialties), Application (Refrigeration, Aluminum, Automobile, Films, Tubing, Blowing Agents and Others) and Region, Global trends and forecast from 2023 to 2029
High-Performance Fluoropolymers Market by Type (PTFE, FEP, PFA/MFA and ETFE), Application (Coatings & Liner, Mechanical Parts & Component, Film, Additives and Others), End-use Industry (Industrial Processing, Transportation, Electrical & Electronics, Medical) and Region (APAC, North America, Europe, MEA and South America) – Global Forecast 2023-2029
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