Fluoropolymer is characterized as a fluorocarbon-based polymer
with various solid carbon-fluorine bonds. The chemical structure of
fluoropolymers consists of polymer chains made up of fluorine atoms.
Fluoropolymers can be defined as semi-crystalline, high-performance
thermoplastics. The fluoropolymer family comprises a group of homopolymers and
copolymers. Growth of the fluoropolymer materials market is expected to be
driven by rising demand for fluoropolymer materials in the manufacture of
semiconductors used in electrical appliances such as smartphones and computers.
Fluoropolymers are extensively used in data communication,
renewable energy, automotive, electronics, aerospace, and building
applications. The utility of fluoropolymers arises from properties such as high
temperature resistance, outstanding chemical resistance, better toughness,
outstanding electrical properties, and low coefficient of friction.
Fluoropolymers are also being used in coatings for all-weather apparel and
nonstick cookware since the past decade. Fluoropolymers are widely used innumerous
chemical plants and various semiconductor parts as they are maintenance-free
even under severe circumstances and contribute to improving productivity. The
excellent performance of fluoropolymers in extreme environments and demanding
applications act as major drivers for the global fluoropolymer market. Concerns
regarding environmental effects and health hazards of fluoropolymers can act as
a limitation for the fluoropolymers market.
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Fluoropolymers play a vital role in numerous services and
products that are frequently used by human beings in their day-to-day
activities. Stringent regulatory environment is expected to hamper development
of the fluoropolymer market. Perfluorooctanoic acid (PFOA), which is utilized
as a raw material, is considered to be carcinogenic by the USEPA. Usage in a
wide range of household products including furniture sprays and stain-resistant
carpets is the main source of PFOA contamination, which is anticipated to
hamper the market growth during the next few years.
Asia Pacific is anticipated to be the fastest-growing market for
fluoropolymers. Demand for fluoropolymer materials in the region is estimated
to be chiefly driven by swift rise in consumption of fluoropolymers in India
and China. Development in the automotive, aerospace, and other transportation
systems is anticipated to drive the fluoropolymer market in Asia Pacific.
Lightweight materials are preferred in most industries due to the need for
enhanced fuel efficiency and lower emission. This, in turn, propels growth of
the fluoropolymers market in countries such as India, China, and Japan.
Electronics and electrical is the largest end-user industry of
fluoropolymers, where they are gradually being preferred for usage in cable and
wire insulation, jacketing, lithium-ion batteries, and semiconductor
fabrication. Technological development in the field of electronics,
particularly in South Korea and Taiwan, has led to increase in utilization of
these materials to enable superior tensile strength and high thermal stability.
Key companies in the fluoropolymers market are largely focusing
on these growing economies for tapping their strong market potential. North
America is another dominant market for fluoropolymers, particularly due to
significant demand from the cable and wire industry in the U.S.
Polytetrafluoroethylene (PTFE) is the dominant fluoropolymer, accounting for
more than half (by weight) of the world’s fluoropolymer consumption. China is
the world’s largest consumer of PTFE, while the U.S. is the largest consumer of
other fluoropolymers.
Some of the major companies operating in the global
fluoropolymers market are Jinan 3F Fluoro-Chemical Co. Ltd, AGC Chemicals
Europe, Dyneon GmbH,3M,AGC Chemicals Europe, Zhonghao Chenguang Research
Institute of Chemical Industry, DuPont, Solvay Solexis, Ltd.,Gujarat
Fluorochemicals Ltd., Shanghai 3F,Fuxin Hengtong, Honeywell International Inc.,
and DAIKIN INDUSTRIES, Ltd.
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Chemicals
and Materials Sector
An assortment of
analytics technologies will help in augmenting the commercial productivity.
However, until now, the pace of adoption of digital technologies in the overall
chemicals industry has been relatively slow. It thus remains to be seen how far
the players in the market will be able to unlock long-term productivity
benefits of AI-driven management of various business functions, particularly
research and development and production.
