The global fluoropolymer films market is expected to reach USD 2.17 billion by 2025, according to a new report by Grand View Research, Inc. Increasing demand from various application industries is a key factor driving the market growth. In addition, robust growth in the construction sector, especially in Asia Pacific is further fueling the demand over the forecast period.
Fluoropolymer films are widely used in different application industries including construction, aerospace, automotive, packaging, electronics, and electrical. Furthermore, it is widely used as a raw material in the production of automobile parts, electronic components, machines, and semiconductors owing to its precipitation capabilities.
In terms of revenue, polyvinylidene fluoride (PVDF) accounted as the largest type segment in 2016 and is expected to continue its trend with a CAGR of 7.6% from 2017 to 2025. It is highly non-reactive thermoplastic fluoropolymer used where high purity and resistance-to-solvents is required.
The demand for fluoropolymer films is anticipated to increase on account of growth in various application industries, especially construction. It is widely used in construction sector on windows and doors for security and safety applications. Moreover, it holds superior light and temperature control, aesthetic appearance and protection from UV rays. These factors are anticipated to contribute to healthy growth of market over the coming years.
U.S. fluoropolymer films market by application, 2014 – 2025 (USD Million)
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Further key findings from the report suggest:
- Packaging segment will experience healthy growth in terms of value at a CAGR of 7.5% from 2017 to 2025 on account of its precipitation capabilities and performance through value added lamination & coatings
- Polyvinyl fluoride (PVF) emerged as the fastest growing type segment in terms of revenue in 2016 and is estimated to reach USD 551.9 million by 2025. Global fluoropolymer films in fluorinated ethylene propylene segment was USD 156.6 million in 2016 and is anticipated to experience healthy growth over the years ahead
- The U.S. fluoropolymer films market in terms of revenue was USD 268.4 million in 2016 and is expected to grow a rate of 8.5% from 2017-2025. Continuous economic development and increasing capital spending in the country is anticipated to boost demand for fluoropolymer films over the forecast period
- Key players including E. I. du Pont de Nemours and Company, Chemours Company, The 3M Company, Saint-Gobain S.A., The Dow Chemical Company, Solvay S.A. and Evonik Industries dominated the global market
For more information: http://www.grandviewresearch.com