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CHEMICALS AND ADVANCED MATERIALS

Fluoropolymer Coating Market Segmentation by Resin Type (PVDF, PTFE, FEP, ETFE, and Others); and by End User (Industrial, Construction, Automotive, Food Processing, Aerospace, Electrical, Cookware, and Others) – Global Demand Analysis & Opportunity Outlook 2031

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IN THE NEWS

  • February 2021- Arkema announced that it will allocate investments for further increasing its fluoropolymer production capacities in Changshu by 35% in 2022.

  • October 2020- AkzoNobel launched TRINAR A-CLAD, a new coil coating system, made of 70 percent polyvinylidene fluoride (PVDF), for aluminum composite panels (ACPs).

Global Fluoropolymer Coating Market Highlights Over 2022 - 2031

The global fluoropolymer coating market is estimated to garner a sizeable revenue by growing at a CAGR of ~5% over the forecast period, i.e., 2022 – 2031. The growth of the market can be attributed primarily to the increasing usage of high-performance coatings in several end user industries, owing to their cost benefits and longer lifespan. In addition, technological advancements to improve fluoropolymer products, and growing production of electronics, where fluoropolymer coating is used for protection, are also expected to boost the demand for the product in the forthcoming years. In 2019, 210 million units of television were shipped across the globe, whereas the total shipments of tablets reached a value of more than 142 million that same year. Furthermore, increasing rates of urbanization and industrialization around the world is projected to offer abundant opportunities for market growth in the near future.

Fluoropolymer Coating Market Graph

The market is segmented by end user into industrial, construction, automotive, food processing, aerospace, electrical, cookware, and others, out of which, the industrial segment is anticipated to hold the largest share in the global fluoropolymer coating market. This can be accounted to the growing usage of fluoropolymer coatings in a variety of applications such as, concrete, carbon steel, stainless steel, steel alloys, and others. Apart from this, increasing demand for polymeric materials from oil & gas exploration and recovery activities is also predicted to boost the market segment growth in the future. Additionally, on the basis of resin type, the FEP segment is assessed to acquire the largest share over the forecast period owing to the superior chemical resistance and electrical properties of FEP resins. CLICK TO DOWNLOAD SAMPLE REPORT

Major Macro-Economic Indicators Impacting the Market Growth

chemicals Graph

The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, Chemical industry in the U.S. accounted for 16.43% to manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in future. According to UNEP (United Nations Environment Program), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, that accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favorable government policies have boosted investment in China’s chemical industry. Easy availability of low-cost raw material & labor as well as government subsidies and relaxed environmental norms have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for the investment in businesses in Asia Pacific countries in the upcoming years.

Global Fluoropolymer Coating Market Regional Synopsis

Regionally, the global fluoropolymer coating market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in Asia Pacific is estimated to witness noteworthy growth and occupy the largest share over the forecast period on the back of the high automotive and auto components production in the region. Along with this, rapidly rising urbanization, and increasing number of housing units are also expected to drive market growth in the region in the coming years. According to the World Bank, 60.698% of the total population in the East Asia & Pacific region lived in urban areas in 2020, up from 59.889% in 2019 and 59.053% in 2018. Moreover, the market in North America is also projected to grab a notable share by the end of 2030, ascribing to the growing number of construction projects, and escalating R&D activities in the chemicals sector in the region.

Fluoropolymer Coating Market Share Image

The global fluoropolymer coating market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global fluoropolymer coating market includes the following segments:

By Resin Type

  • PVDF
  • PTFE
  • FEP
  • ETFE
  • Others

By End User

  • Industrial
  • Construction
  • Automotive
  • Food Processing
  • Aerospace
  • Electrical
  • Cookware
  • Others

Growth Drivers

  • Increasing Usage of High-Performance Coatings in Several End User Industries
  • Technological Advancements to Improve Performance Fluoropolymer Products

Challenges

  • Improper Disposal of Fluoropolymer Coated Products

Top Featured Companies Dominating the Market

  • Arkema S.A.
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis 
  • PPG Industries, Inc.
  • Akzo Nobel N.V.
  • Daikin Industries Ltd.
  • BASF SE
  • TOHO KASEI Co., Ltd.
  • Toefco Engineered Coating Systems, Inc.
  • DuPont de Nemours, Inc.
  • The Valspar Corporation
  • Beckers Group

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