In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.
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.
Ans: The major factors driving market growth owing to the growing usage of the product in several industry verticals, and high need for lightweight materials in the automobile industry.
Ans: The market is anticipated to attain a CAGR of ~6% over the forecast period, i.e., 2022-2031.
Ans: High cost of fluoropolymers is estimated to hamper the market growth.
Ans: Asia Pacific will provide more business opportunities for market growth owing to the rapidly rising rate of urbanization and industrialization in the region.
Ans: The major players in the market are 3M Company, The Chemours Company, Kureha Corporation, Daikin Industries, Ltd., Honeywell International, Inc., and others.
Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by material, application, end user, and by region.
Ans: The FEP segment is anticipated to hold largest market size and is estimated grow at a notable CAGR over the forecast period and display significant growth opportunities.