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CHEMICALS AND ADVANCED MATERIALS

Fluoropolymer Tubing Market Segmentation by Material (PTFE, PVDF, FEP, PFA, and ETFE); by Application (Film, Tube, Sheet, Pipe, Membrane, Sealant, Roofing, Additives, and Others); and by End User (Chemical Processing, Automotive, Electrical & Electronics, Construction, Industrial Equipment, Pharmaceutical, Household, and Others) – Global Demand Analysis & Opportunity Outlook 2031

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IN THE NEWS

  • February 2021- The Chemours Company announced that it divided its former Fluoroproducts segment into two new reportable segments: Thermal & Specialized Solutions ("TSS", formerly Fluorochemicals) and Advanced Performance Materials ("APM", formerly Fluoropolymers), during the fourth quarter of 2020.

  • February 2021- Arkema declared that it will invest to further increase its fluoropolymer production capacities in Changshu by 35% in 2022.

Global Fluoropolymer Tubing Market Highlights Over 2022 - 2031

The global fluoropolymer tubing market is estimated to garner a large amount of revenue by growing at a CAGR of ~6% over the forecast period, i.e., 2022 – 2031. The growth of the market can be attributed primarily to growing usage of the product in several industries, such as electrical & electronics, transportation and pharmaceutical industries. This can be credited to the high usage of fluoropolymer tubing over other polymer tubing in these industries as a result of its high temperature resistance and durability. Along with this, high need for lightweight materials in the automobile industry, and rising emphasis on the usage of green fluoropolymers are also expected to drive market growth significantly in the forthcoming years. Furthermore, increasing healthcare spending in emerging economies is projected to raise the demand for the product significantly in the near future. The healthcare expenditure in China reached a value of USD 1,130 billion in 2020, up from USD 1000 billion in 2019 and USD 928 billion in 2018.

Fluoropolymer Tubing Market

The market is segmented by application into film, tube, sheet, pipe, membrane, sealant, roofing, additives, and others, out of which, the pipe segment is anticipated to hold the largest share in the global fluoropolymer tubing market. This can be accounted to the rising use of pipes in petrochemicals, chemicals and pharmaceutical industries to handle volatile and corrosive solvents. Additionally, on the basis of material, the FEP segment is predicted to grab the largest share during the forecast period owing to the benefits of FEP, including increase in stiffness, and rise in working pressure by almost 30%. Apart from these, high utilization of FEP tubes in aerospace, automotive, energy, and telecom industries is also assessed to boost the market segment growth in the future. CLICK TO DOWNLOAD SAMPLE REPORT

Major Macro-Economic Indicators Impacting the Market Growth

Chemicals (% of Value Added in Manufacturing)

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 Tubing Market Regional Synopsis

Regionally, the global fluoropolymer tubing 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 over the forecast period on the back of the rapidly rising urbanization and industrialization in the region. 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.

In addition, growing demand for high-quality electronics, medical and automotive products, which is evaluated to raise the demand for fluoropolymers in the region in the coming years. Moreover, the market in North America is projected to grab the largest share during the forecast period ascribing to the high usage of the product in the aviation industry, and strong footprint of prominent market players in the region.

Fluoropolymer Tubing Market Share

The global fluoropolymer tubing 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 tubing market includes the following segments:

By Material

  • PTFE
  • PVDF
  • FEP
  • PFA
  • ETFE

By Application

  • Film
  • Tube
  • Sheet
  • Pipe
  • Membrane
  • Sealant
  • Roofing
  • Additives
  • Others

By End User

  • Chemical Processing
  • Automotive
  • Electrical & Electronics
  • Construction
  • Industrial Equipment
  • Pharmaceutical
  • Household
  • Others

Growth Drivers

  • Growing Usage of the Product in Several Industry Verticals
  • High Need for Lightweight Materials in the Automobile Industry

Challenges

  • High Cost of Fluoropolymers

Top Featured Companies Dominating the Market

  • 3M Company
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis 
  • The Chemours Company
  • Kureha Corporation
  • Daikin Industries, Ltd.
  • Honeywell International, Inc.
  • Teleflex Inc.
  • Arkema SA
  • Asahi Glass Company Limited
  • Compagnie de Saint-Gobain S.A.
  • Zeus Industrial Products, Inc.

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