The Fluoropolymers in Healthcare Market are predicted to be worth US$ 472.4 million in 2023, and rise to US$ 792.9 million by 2033. Initially, the global market was expanding at a CAGR of 4.4% during 2018 to 2022.
Given its superior heat stability and membrane-forming characteristics, polyvinylidene fluoride (PVDF) is frequently employed in scientific research and industrial operations. Fluoropolymers are being used more frequently in novel applications, and manufacturing methods for these materials are being improved through closed-loop upcycling. These two rising trends have a direct effect on the dynamics of the market.
The market is expected to expand quickly due to the increased use of fluoropolymers in implants for their greater chemical inertness and fatigue resistance. One of the industries with the most stringent regulations in the world is that of fluoropolymers.
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Fluoropolymer use is rising in the construction, automotive, medical, electrical, and electronics industries, which is what is driving this trend. The healthcare revolution has been greatly aided by the development of medical fluoropolymers.
Medical fluoropolymers have emerged as one of the few flexible materials capable of satisfying the industry’s changing expectations as healthcare technology has advanced.
Key Takeaways
- By 2033, the United States is expected to show high potential in the Fluoropolymers in Healthcare market, with a size of US$ 150.8 million and a CAGR of 5.1%.
- The Fluoropolymers in Healthcare market were significantly expanding, with a size of US$ 450.9 million in 2022.
- Market shows amazing opportunities due to multiple applications, and expects an absolute opportunity of US$ 21.5 million during the forecast period.
- The expansion in China is anticipated to expand at an adequate CAGR of 5.9% % by 2033.
- By 2033, Germany is likely to expand in the Fluoropolymers in Healthcare market, with a size of US$ 18.1 million.
- By 2033, the Fluoropolymers in Healthcare sector are likely to increase in Canada, with a size of US$ 19.3 million.
- The expansion in the United Kingdom is anticipated to expand at an adequate CAGR of 4.6% by 2033.
- Based on the product type, the Polytetrafluoroethylene (PTFE) segment expects a CAGR of 5.1% by 2033.
- Based on the application, hospital disposals continue to dominate the sector during the forecast period, with a CAGR of 5.9%.
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Key Strategies in the Industry
Regional competitors who have strong distribution networks and a good grasp of suppliers and laws compete fiercely with global firms. The quality of the products offered, and the cutting-edge technology and innovation used in the production of fluoropolymers, are the primary factors on which businesses compete.
Recent Developments
- SABIC unveiled a novel polycarbonate-based CRX copolymer resin in November 2020 that lowers the risk of premature failure due to environmental stress cracking (ESC) in housings and devices for medical equipment.
- Eastman Chemical Corporation introduced Tritan, a recycled co-polyester consisting of 50% recycled plastic, in June 2020. The goal of this action is to use recycled plastics more frequently.
- The KCI subsidiary of Acelity, Inc. and the 3M Corporation were acquired. In order to utilize 3M’s metal mesh technology, the company also agreed into a royalty-bearing patent license arrangement with LG-Innotek (LGIT).
Key Players
- DIC Corporation
- AGC Inc.
- Dongyue Group Ltd.
- Solvay S.A.
- PolyOne Corporation
- Kaneka Corp.
- Arkema Group
- Saint Gobain S.A.
- The Chemours Company
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Key Segments
By Product Type:
- PTFE
- PVDF
- PVF
- FEP
- PCTFE
- PFA
- Others
By Application:
- Medical Devices
- Hospital Disposable
- Pharma Packaging
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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