2014-01-21 13:20:01 - Fluoropolymer Market: Global Trends & Forecast to 2018 - a new market research report on companiesandmarkets.com
The global fluoropolymers market in terms of revenue was estimated to be worth $7.16.3 billion in 2012 and is expected to reach $9.8 billion by 2018, growing at a CAGR of 5.7% from 2013 to 2018. North America dominated the global fluoropolymers market, accounting for major share in the overall market in 2012. The growth in the Asia-Pacific market is expected to be fueled by countries such as China and India.
Fluoropolymers are specialized polymeric materials witnessing strong market growth. This growth is driven by the end-user markets where fluoropolymers are extensively used owing to their unique properties and superior performance characteristics.
Fluoropolymers possess excellent properties, such as superior electrical insulation, advanced chemical, and thermal resistance in demanding environments, good weathering properties,
enhanced purity, high resistance to solvents, acids and bases, low coefficient of friction, etc. These superior properties make them suitable for use in a wide range of applications in industries, such as automotive, electronics, chemical processing, houseware, medical, etc.
North America is the most dominant market for fluoropolymers owing to significant demand from the U.S. And the growing wire and cable market where fluoropolymers are used as jacketing material and primary insulation material. Fluoropolymers are also used in fiber optic cables. FEP and PVDF are the fastest growing product types in these applications.
PVDF is increasingly being used in North America for applications in lithium-ion batteries, architectural coating applications, and as a jacketing material in fiber optic cables. The growing chemical processing, cookware, bakeware, and medical market are also expected to help the North American fluoropolymers market. Asia-Pacific is expected to be the fastest growing market for fluoropolymers where growth is driven by the key countries such as China, Japan, and India.
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