Fluoropolymer films are consist of fluorine, carbon molecules and are high-performance polymer film. These films are widely used across high-temperature applications and extremely harsh chemical conditions. They are highly resistant to chemical, moisture, offer non-stick performance, and optical transparency. These films are widely used across packaging, electronics, automotive, construction, electrical, and aerospace. These films are used for cable insulation, composite mold release, roll covers, pharmaceutical liners, anti-corrosive linings, adhesives, photovoltaic cell, microphone membranes, surface coverings, airbags, anti-graffiti coverings, and fuel hoses. Moreover, they are also used across the pharmaceutical industry as blister packaging materials.
The global fluoropolymer films market is projected to surpass US$ 2.7 billion by the end of 2027, in terms of revenue, growing at CAGR of 6.2% during the forecast period (2019 to 2027).
The rising demand for blister packaging from the pharmaceutical industry is projected to propel the growth of the fluoropolymer film market. It is cavity or pocket which is made up of thermoformed plastic. Blister packaging usually consists of the lidding seal of aluminum foil or plastic. Blister packaging is beneficial for protecting products from external factors such as moisture and prevent contamination. Hence, the rising demand for blister packaging from the pharmaceutical industry is propelling the growth of the fluoropolymer film market.
Growing demand for fluoropolymer films across end-user industries such as machine, electronic, automobile and semiconductor due to their excellent chemical and physical properties are accelerating market growth. Fluoropolymers have high strength over a wide range of temperature and excellent thermal stability which makes them high-performance polymer which has a wide range of application across various end-user industries. Hence, rising demand for the product from the aforementioned industries is accelerating market growth.
Geographically, Asia-Pacific dominated the global fluoropolymer films market in 2018, reporting 38% market share in terms of revenue, followed by North America and Europe, respectively.
Figure 1. Global Fluoropolymer Films Market, Revenue Share (%), By Region, 2018
The complex manufacturing process of fluoropolymer films is another major factor expected to hinder the market growth over the forecast period. The manufacturing process is a little difficult and time-consuming which is expected to restrict the market growth of fluoropolymer films to some extent. Production of fluoropolymer films involves several steps such as sintering, coating, paste extrusion processes, and melt processing.
Fluctuating prices of raw materials used to produce fluoropolymer films are expected to hinder the market growth. The raw materials which are used to produce this product are petroleum-based and fluctuating prices of crude oil around the globe affect the overall demand and supply of the fluoropolymer films, this, in turn, is expected to restrict the market growth.
The rising demand for fluoropolymer films from the construction industry is expected to propel the market growth over the forecast period. Fluoropolymer films are widely used to laminate the various infrastructure in order to protect against extreme weather condition, fading, and cracking. Therefore, rising demand for fluoropolymer films from construction industry is augmenting the market growth of fluoropolymer films over the forecast period.
Growing demand for fluoropolymer films from the defense industry is expected to augment the market growth in the near future. In defense industry it is used to package the sensitive products due to its excellent technical properties such as non-yellowing chemistry, clarity UV stability, moisture barrier, and chemical inertness. All these properties are projected to boost the market growth of fluoropolymer films.
Figure 2. Global Fluoropolymer Films Market – Opportunity Analysis
Increasing penetration of smartphones, tablets, and watches is expected to accelerate the market growth of fluoropolymer films. The PTFE and PVDF films are used in the production of smart devices such as phones, wearable devices, tablets, and other smart devices. Therefore, the growth of the market can also be attributed to the booming electrical &electronic industry around the globe.
Various manufacturers are focusing on increasing the production capacity of fluoropolymer films in order to meet the rising demand is expected to fuel market growth. For instance, in April 2018, Arkema starts new fluoropolymer production capacities in the United States. This new capacity will enable the Group to support its customer’s growth in America, especially in emerging applications such as water filtration and in traditional markets such as the chemical process industry and high-performance cables across automobile, fiber optics, and the oil industry.
Figure 3. Global Fluoropolymer Films Market, Revenue Share (%), By End-Use, in 2018
On the basis of end-use, in 2018, packaging accounted the largest market share of 29% in terms of revenue, followed by industrial & equipment and automotive & aerospace, respectively.
Key players active in the global fluoropolymer films are The Chemours Company, Arkema Group, Solvay, Daikin Industries, Ltd., Asahi Glass Co., Ltd., 3M, Saint-Gobain, Polyflon Technology Limited, Dongyue Group Ltd., and Honeywell International Inc.
Few Recent Developments
The Chemours Company
Fluoropolymer is a thermoplastic material which is formed of multiple carbon-fluorine bonds. Fluoropolymer films exhibits various versatile properties, such as inertness towards chemicals, superior dielectric properties, weather resistance, excellent optical properties, minimal moisture absorption, and can withstand extreme temperatures. Owing to these versatile properties, fluoropolymer films are extensively used in various end-user industries, such as industrial equipment, building & construction, chemical processing, electrical & electronics automotive and transportation, etc.
The global fluoropolymer films market has witness a growth in recent few years, owing to the increasing population, growing number of public-private collaborations in infrastructure development and rising investments by government in large-scale infrastructure projects in emerging economies. Among regions, Asia-pacific is expected to grow substantially in the next few years, with countries like India, Japan and China holding the largest demand for fluoropolymer films in building & construction industry.
Fluoropolymer films are also widely used as front sheets in solar PV modules. The rapid rise in deployment and expansion of solar photovoltaic modules around the world has provided lucrative growth to the market in the recent past years. This scenario is anticipated to foster the demand for fluoropolymer films during the forecast period.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section.