Fluoropolymer Coating Market, growth, Scope, Trends, Swot Analysis And Forecast Till 2022-2030
The fluoropolymer coating is defined as a combination of fluoropolymer-based lubricants and high-performance resin. A new report on the Global fluoropolymer coating industry , published by Market Research Future (MRFR), The Fluoropolymer Coating Value is predicted to reach a value of USD 2,240.2 million by 2030 and a CAGR of over 6.1 % during the forecast period.
The most significant market
driver for the Global
fluoropolymer coating industry growth is its significant use in the food
processing industry. It can be applied on trays and mold in the making of
bread, candy, and cheese to prevent sticking. Other market drivers for the Global
fluoropolymer coating industry growth
include a rise in demand for bakery products, craze for ready-to-eat-foods,
shifting customers preferences, and a rise in the working population. A fluoropolymer
coating is used in metals that are used for constructing roofs during the
process of building construction. In the automobile sector, the fluoropolymer
coating is used for protecting the metal from corrosion.
Market
Segmentation
The Global fluoropolymer
coating industry segmentation
encompasses end-use industry and resin. MRFR’s research on the market
highlights many facets of the market in-depth.
Regarding the end-use
industry, the market has been segmented into aerospace, automotive, building
& construction, electrical, food processing, and others. The building &
construction segment dominates the global market, with over 20.1% share.
The resin-based
segmentation of this market covers ethylene tetrafluoroethylene (ETFE),
fluorinated ethylene propylene (FEP), perfluoroalkoxy alkanes (PFA),
polytetrafluoroethylene (PTFE), polyvinyl fluoride (PVF), and others. The PVF segment
leads the market due to a wide application in various end-use industries.
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Regional
Segmentation
A geographical outlining
of the Global fluoropolymer coating industry covers North America, Asia Pacific, Europe, Latin
America, and the Middle East & Africa (MEA).
In North America, the
market has potential to grow as the largest, and during the forecast period, it
can grow at 5% CAGR due to the production expansion and consumption in this
region. The USA is the leading country-specific market in term of volume
consumption. High consumption happens as USA is one of the largest markets for
aircraft, automotive, and electronics products. Demand for new vehicles is also
growing in the USA due to the presence of many key market players and high
disposable income of people. Many key players of fluoropolymer
coating outlook market are also based in the USA. After
USA, Canada is the strongest country-specific market.
The Asia Pacific market
is the fastest-growing regional market in terms of revenue. The revenue is high
due to the increasing number of the construction project where the application
of fluoropolymer coatings is required in metals used for constructing roofs.
Fluoropolymer coatings provide durability, weather ability, and ultraviolet
(UV)-resistance to construction materials, that makes it an ideal application
for the construction industry. Thus, the surge in urban population is expected
to propel commercial building activities and residential building activities
that can drive the fluoropolymers coatings market in this region during the
forecast period. An examination of the
remaining countries in the Asia Pacific region featured in this report sums up
the additional market revenue from some other countries.
The European market can
witness a remarkable growth due to the increasing application of fluoropolymers
coatings in the electronic appliances industry and food processing industry.
The rising expenditure on product innovation and surging purchasing power of
consumers are also boosting the market growth in this region. Presence of diverse
automobile manufacturers in this region, especially in Germany, is also
boosting the market growth. Research on the remaining countries in Europe
featured in this report estimate the strong addition to market revenue from
various other countries in this region.
In Latin America, as well
as the MEA region, the market is growing primarily due to the increasing public
and private sector investment in the construction industry. The investment is
generating higher demand for fluoropolymers coatings. In the MEA region, the
market can grow due to increasing demand for fluoropolymer coating. An
assessment of the remaining countries in the MEA region featured in this report
anticipates a decent contribution to market revenue from some other countries.
In Latin America, the
market in countries like Argentina, Brazil, and Colombia, is predicted to
witness a substantial growth due to increasing consumer spending on passenger
cars. The involvement of new technologies and inventions in fluoropolymer
coating can also strengthen the market in this region. Mexico is another
important country-specific market in this region. An assessment of the
remaining countries in Latin America listed in this report anticipates a decent
contribution to market revenue from many other countries.
Key
Players
Big players in the Global
fluoropolymer coating industry are Axalta
Coating Systems Ltd (USA), The Chemours Company (USA), Daikin Industries Ltd
(Japan), Kansai Paints Co. Ltd (Japan), KCC Corporation (South Korea), PPG
Industries Inc. (USA), The Sherwin-Williams Company (USA), and Walter Wurdack
Inc. (USA).
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