Fluoropolymers are a type of fluorocarbon based polymers that are characterized by high resistance to various bases, acids and solvents. These polymers contain multiple strong carbon fluorine bonds and they are not susceptible to hydrocarbons. These materials have diverse applications across different business verticals, which is a strong reason for steady growth in global fluoropolymers market in the recent past. Technological advancements are creating better business prospects for the companies that are aiming to broaden their reach across emerging markets and budding marketplaces from different parts of the world.
Applications and Segmentation
Fluoropolymers are widely used across the verticals including electrical, electronics, automobiles, chemical processing and such other industries. Excellent physical and chemical properties make fluoropolymers highly popular across these industries. Some excellent qualities of this material include superb electrical insulation, advance thermal resistance, chemical resistance and excellent weather properties. All these characteristics paired with high resistance to acids, bases and solvents make them highly popular.
Basic segmentation in global fluoropolymer market is based on several essential factors, which include the types of applications, products and geographical regions. Based on geography, the market is segmented into North America, Asia Pacific, Europe and rest of the world. Basic types of products in the industry include fluoroelastomers, PTFE, PVDF, FEP and others. As mentioned before, basic applications of fluoropolymers include automotive & transportation, chemical processing, electrical & electronics and industrial equipments.
Current Market Trends and Forecasting
Detailed qualitative and quantitative market research for fluoropolymers market provides details about the future business prospects and latest trends in the industry. These reports also provide details about the prevailing opportunities, threats, competition and customer expectation based on the current scenario. Research reports for the fluoropolymer market claim it to grow at a steady CAGR of over 5% from 2012 to 2018. At this steady compound annual growth rate, the industry is poised to become worth $9.8 billion by 2018. As of 2013, the market was worth $7.2 billion.
Asia Pacific and especially China and India are expected to be the fastest growing regions in the industry. Technological advancements in the production of fluoropolymers are expanding application limits of the industry, which is posing positive influence on the global market. Top suppliers of the world are expecting to expand their business across various budding marketplaces including BRICS countries and developing parts of Latin America, Africa, Middle East and others. The market is also making a strong hold in developed regions like North America and Europe.