Global High Performance Fluoropolymers (HPF) Market is Forecast to Reach USD 4.6 Billion by 2024, at a CAGR of 7%
9 March 2021
Dublin, March 09, 2021 (GLOBE NEWSWIRE) -- The "High Performance Fluoropolymers Market by Type (PTFE, FEP, PFA/MFA, ETFE), Form (Granular, Fine Powder & Dispersion), End-use Industry (Industrial Processing, Transportation, Electrical & Electronics, Medical), and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global market size of HPFs was USD 3,300.9 million in 2019 and is projected to reach USD 4,272.7 million by 2025, at a CAGR of 7.0% between 2020 and 2025.
This growth is attributed to HPF's growing number of applications in various industries. Also, expansion across end-use industries is further driving the industry for HPF globally. Rapid adoption of 5G Connectivity, advancements in the designing of electronic components, and rising need of hybrid and compact engines for automobiles are also among the major drivers of the HPF comsumption.
PTFE is the most widely used type of HPF and accounted for the largest market share. There is an increase in the use of dispersion and fine powder PTFE, for various applications, especially in North America and APAC. It is used in a wide range of applications such as semiconductor, automotive components, electrical appliances, and non-stick cookware. The growing applications in the electrical & electronics industry are expected to trigger the demand for PTFE, especially in advanced batteries and fuel cells.
HPF market is segmented into various forms such as suspension/granules, Fine powder & dispersion, and micropowder. HPFs in the form of suspension/granules dominate the market. HPFs exhibit excellent properties, such as good insulation, low surface energies, and high resistance to oils, UV radiation, chemicals, water, and corrosion. Granular fluoropolymers are processed by compression and sintering to make parts directly or to make billets suitable for machining. HPFs in the form of granules are ideal for manufacturing high-performance mechanical/electrical products requiring excellent end-use performance such as skived tapes, films, sheets, machined gaskets, expansion joints, bellows, piston rings, and diaphragms. Suitability of granular form of HPFs in the manufacturing of various components is a major reason for the large market size.
HPFs market is segmented on the basis of end-use industry as industrial processing, transportation, medical, electrical & electronics, and others. The increased usage of HPFs in chemical processing, food processing, pharmaceutical processing, oil & gas, water treatment, and other industries for equipment maintenance and processing.
North America is the largest HPF market globally
In 2019, North America accounted for the largest share in the global HPF market. New application development, product innovation, and presence of a large number of end-use industries, such as industrial processing, transportation, and electronics & electrical.
US emerged as the largest producer of oil & gas globally, which triggered the expansion across downstream process industries, which benefitted the HPF market. Also, the US and Mexico are amongst the top automotive manufacturers of HPF globally. Presence of full-fledged end-use industries is the major demand driver for HPF in North America. Extensive primary interviews were conducted in the process of determining and verifying sizes of several segments and subsegments of the HPF market gathered through secondary research.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 High Performance Fluoropolymers Market, by Type
7 High Performance Fluoropolymers Market, by Form
8 High Performance Fluoropolymers Market, by End-Use Industry
9 High Performance Fluoropolymers Market, by Region
10 Competitive Landscape
11 Company Profiles
- Chenguang Research Institute of Chemical Industry
- Daikin Industries
- Dongyue Group
- Gfl Limited
- Guangzhou Lichang Fluoroplastics Co., Ltd
- Hindustan Fluorocarbons Limited
- Hubei Everflon Polymer
- Jiangsu Meilan Chemical Co. Ltd
- Juhua Group Corporation
- Shamrock Technologies
- Shandong Hengyi New Material Technology Co., Ltd
- Shanghai 3F New Materials Co., Ltd.
- The Chemours Company
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