The global fluoropolymer films market is predicted to expand at a positive CAGR of 6.4% from 2022 to 2032. The market is expected to generate $3,120.3 million in revenue in 2032, up from $1,986.4 million in 2022. The market grew at a 6% CAGR from 2017 to 2021, reaching US$ 1,873.2 million. The product’s superior quality, which promotes its widespread use across various industries, as well as the rapid deployment and advancement of solar photovoltaic modules in the coming years, as fluoropolymer films are used as front sheets in solar PV modules, can be attributed to the market’s consistent growth. As a result, the market predicts favorable conditions.
Fluoropolymer films are largely employed in the manufacture of machine parts, semiconductors, electrical components, and automobile parts. As a result of increased demand for semiconductors, consumer electronics, and industrial electronics, demand for fluoropolymer films rises. Furthermore, the product is in high demand in the packaging business due to its high quality. In the coming years, demand for fluoropolymer films will be driven by other industrial verticals such as construction, aerospace, automotive, pharmaceutical, and renewable energy.
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Considered to be biocompatible due to their exceptional chemical inertness, fluoropolymer films have the ability to prevent adverse reactions when in contact with the human body. Moreover, their low moisture absorption, durability against weather conditions, and little to no chemical change or degradation when exposed to medical fluids open new avenues of growth for the fluoropolymer films market as they find usage in blister packaging and in fluid bags for biological liquids. Again, increasing technological progress and greater demand for pure goods in the medical and pharmaceutical sectors aid market growth. All of these considerations propel the fluoropolymer films market forward during the assessment period.
Key Takeaways:
- High costs of the films due to fluctuating prices of raw materials and processing costs may stymie the growth of the fluoropolymer films market.
- The swift advancement of solar photovoltaic (PV) modules will strengthen prospects for the fluoropolymer films market.
- Owing to its excellent physical and chemical properties, the PTFE product type will remain popular with a 26.5% market share.
- By end-user, the packaging industry will dominate the global marketplace with ownership of 29% of the market share.
- The fluoropolymer films market in the US will expand at a CAGR of 6.2% due to widespread use in important end-use industries.
- China’s fluoropolymer films market will benefit from rapid urbanization and the strong presence of key players.
Competitive Landscape
DAIKIN INDUSTRIES Ltd., Asahi Glass Co., Ltd, 3M Company, The Chemours Company, Arkema Group, Solvay SA, Dongyue Group Ltd., and Honeywell International Inc., among others, are some of the leading players in the fluoropolymer films market profiled in the full version of the report.
In an intensely consolidated environment, dominant market players are focusing on increasing investment in research and development activities to produce new and innovative products which will meet the need of the consumers. These companies also adopt mergers, acquisitions, and partnership strategies to expand their business and gain a competitive edge.
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More Insights into Fluoropolymer Films Market
FMI offers the latest, unbiased, and detailed analysis of the global fluoropolymer films market, providing historical data from 2017 to 2021 and forecast statistics for 2022 to 2032. For a comprehensive understanding of the global market potential, growth, and scope, the market is segmented on the basis of product type, application, end-user, and region.
According to the reports, based on segmentation, the packaging sector will likely generate the highest demand for the market. It is estimated that this category will hold about 29% of the global market share on the basis of application. In terms of product type, the PTFE segment will hold 26.5% of the market share.
Based on region, the fluoropolymer films market will display impressive growth in the US. The target market in this region will grow at a CAGR of 6.2%. This growth can be attributed to increasing demand for the product from multiple industry verticals, the presence of illustrious market players, the availability of plenty of resources, and increasing investments in product innovations. Besides the US, China, too, will make notable contributions to the global growth of the fluoropolymer films market.
Key Segments Profiled In The Fluoropolymers Films Market Report Fluoropolymers Films Market
By Product Type, the Market is segmented as:
- Polytetrafluoroethylene (PTFE)
- Fluorinated Ethylene Propylene (FEP)
- Perfluoroalkoxy Alkane (PFA)
- Polyvinyl Fluoride (PVF)
- Polyvinylidene Fluoride (PVDF)
- Ethylene tetrafluoroethylene (ETFE)
- Others (ECTFE, PCTFE, etc.)
By End Use, the Market is segmented as:
- Automotive and Aerospace
- Electrical and Electronics
- Industrial and Equipment
- Packaging
- Building and Construction
- Others
By Region, the Market is segmented as:
- North America
- Latin America
- Europe
- South Asia & Pacific
- East Asia
- Middle East & Africa
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