The increasing demand for fluoropolymers in the automotive and aerospace sectors is a primary factor propelling market growth.

WILMINGTON, DE, UNITED STATES, September 19, 2024 /EINPresswire.com/ -- According to a report by Allied Market Research, the global fluoropolymers market size was valued at $7.66 billion in 2019 and is projected to reach $11.70 billion by 2027, growing at a compound annual growth rate (CAGR) of 6.5% from 2020 to 2027. This comprehensive report provides an in-depth analysis of evolving market trends, strategic developments, key segments, and the competitive landscape.

The increasing demand for fluoropolymers in the automotive and aerospace sectors is a primary factor propelling market growth. However, the rising costs of Polytetrafluoroethylene (PTFE) pose a challenge to this growth. On the upside, the expanding use of fluoropolymer films in the construction and energy industries offers promising opportunities for market players in the coming years.

Market Segmentation Highlights:

By Application: The pipe segment was the largest in 2019, accounting for over a quarter of the global fluoropolymers market. It is expected to maintain this lead with a CAGR of 3.3% through 2027, due to the widespread use of fluoropolymer pipes in industries like petrochemicals, chemicals, and pharmaceuticals for handling volatile and corrosive substances.

By End-Use Industry: The industrial equipment segment is projected to register the highest CAGR of 4.5% during the forecast period. In 2019, this segment also held the largest market share, nearly two-fifths of the total, thanks to the extensive use of fluoropolymers in applications like pumps, heat exchanger coatings, and reaction vessels.

Regional Insights: Asia-Pacific, followed by North America, held nearly half of the global market share in 2019 and is expected to experience the highest growth with a CAGR of 6.6%. This is driven by the presence of major manufacturing hubs in China and India, along with rising demand for high-quality products in medical, automotive, and electronics sectors. North America is projected to grow at a CAGR of 6.5% during the forecast period.

Key Market Players: Notable companies featured in the report include Arkema SA, The Chemours Company, Asahi Glass Company Limited, Dongue Group, Daikin Industries, Honeywell, Dupont, SABIC Innovative Plastics, Mitsubishi Chemical, Shin-Etsu Chemical, Saint-Gobain, 3M Company, and Solvay SA.

𝐎𝐛𝐭𝐚𝐢𝐧 𝐑𝐞𝐩𝐨𝐫𝐭 𝐃𝐞𝐭𝐚𝐢𝐥𝐬: https://www.alliedmarketresearch.com/fluoropolymers-market

About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting.

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Allied Market Research
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