Several industries including automotive, construction, chemical, electronic, electrical, and architectural have application of fluoropolymer coating, which are the mixture of resin binders and fluoropolymer lubricants. These coatings offer highly useful attributes such as low coefficients of friction, chemical resistance, electrical resistance, corrosion protection, anti-galling properties, and UV protection. Consequently, the demand in the global fluoropolymer coating market is projected to expand at a healthy CAGR during the forecast period of 2016 to 2024.
This report on the global market for fluoropolymer coatings has been prepared to act as a reliable document for the stakeholders connected to the value chain of this market. It studies all the factors that may impact the demand for fluoropolymer coating, positively or negatively, during the forecast period, and estimates the scenario of the market until 2024. Segment based revenue and growth rates have been evaluated and most lucrative regions have been detected. The report also overviews a number of leading companies that are currently operating in the global fluoropolymer market, exploring their product portfolio, share of the pie, and latest strategic developments.
Based on type, the market for fluoropolymer can be segmented into polyvinylidene fluoride (PVDF), polytetrafluoroethylene (PTFE), ethylene tetrafluoroethylene (ETFE), and fluorinated ethylene propylene (FEP), while on the basis of end-use industries, the market can be categorized into building and construction, aerospace, chemical processing, electrical and electronics, food and beverage, and others. Geographically, the report evaluates the opportunities available in several regions including Asia Pacific, Europe, North America, Latin America, and the Middle East and Africa.
The expanding application of fluoropolymer coating in various industries, and their consequent prosperity, are the primary factors driving the global market for the same. In the automotive industry, fluoropolymer are used in various parts such as ball bearings in order to impact friction and resist corrosion. In the aerospace sector, fluoropolymer coating are applied in cabin interiors, wheels, and bearings to resist fire and corrosion. The building and construction industry is currently thriving in several emerging economies, wherein fluoropolymer coating are useful for paints, sealants, and adhesives to add durability. A number of cooking appliances such as mixing blades, non-stick cookware, cutting blades, and molds use fluoropolymer coating. The electronic industry is flourishing too, and thereby driving the demand for fluoropolymer coating, using it for protective coating and insulation. Owing to its high durability, PVDF based coating are extensively used in the agriculture sector for coating of post-formed steel sheets or metal coils as well as architectural aluminum surfaces.
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Currently, the building and construction industry account for the maximum demand for fluoropolymer coating by a considerable margin ahead of the second most profitable end-use industry of automotive.
Global Fluoropolymer Coating Market: Regional Outlook
Asia Pacific is the most profitable market for the players in the fluoropolymer coating market, with vast possibilities for future, followed by Europe and North America wherein the market has reached maturity to a certain extent. Rapid urbanization is opening vast opportunities in Asia Pacific countries such as India, China, South Korea, and Malaysia.