Fluoropolymer Tubing Market Trends

Growth Drivers

• Surging Demand for Electronics – An increase in the market for electronic devices is the result of more people using telecommuting for work, school, and pleasure, anticipated to drive the market growth. The usage of fluoropolymer tube materials, particularly PTFE, FEP, and PFA, is widespread in electrical and electronic industries. Further, fluoropolymer tubing can provide electrical insulation since it is a great insulator. As of 2021, market for consumer electronics and appliances, including cellphones, washing machines, and smart wearable devices, expanded by over 5% in India.
• Rising Automotive Sector – Rising production of passenger cars, trucks, buses, and other commercial vehicles across the globe is estimated to drive market growth. As of 2021, the global sales of passenger vehicles increased by more than 2, 00,000 units.
• Growing Aviation Industry – On the account of rising middle class population and disposable incomes, the market is expected to expand more in the upcoming years. More than 30% of all aircraft deliveries worldwide are made in the Asia-Pacific region.
• Increasing Industrialization in Developing Countries –In December 2022, India's industrial production climbed over 4% compared to the previous year.

Challenges

• Exorbitant Cost of Fluoropolymers - The increasing concern is associated with the requirement of high investment in production of fluoropolymers tubing is one of the major factors predicted to slow down the market growth. For instance, producing fluoropolymers is a complicated, and costly process, which increases the price of end products such as fluoropolymers tubing.
• Lack of Ability to Maintain Needed Temperatures Has an Impact on the Quality
• Lack of knowledgeable Compounders to Process Fluoropolymer