The global fluoropolymer films market is predicted to expand at a positive CAGR of 6.4% from 2022 to 2032. The market will accumulate an estimated revenue of US$ 3,120.3 million in 2032, rising from US$ 1,986.4 million in 2022. Valued at US$ 1,873.2 million in 2021, the market grew at a CAGR of 6% from 2017 to 2021. The steady growth of the fluoropolymer films market can be attributed to the superior quality of the product which promotes its extensive use across different industries and the swift deployment and advancement of solar photovoltaic modules in the upcoming years as fluoropolymer films are used as front sheets in solar PV modules. Thus, the market looks ahead to bright prospects.
Fluoropolymer films mainly gain application as raw material in the manufacturing of machine parts, semiconductors, electronic parts, and automobile parts. Hence, an upsurge in demand for semiconductors, consumer electronics, and industrial electronics results in a spike in the demand for fluoropolymer films. Furthermore, the product witnesses heightened demand from the packaging sector because of its excellent quality. Other industrial verticals like construction, aerospace, automotive, pharmaceutical, and renewable energy, among others, further spur the demand for fluoropolymer films in the forthcoming years.
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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 the 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.
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