FLUOROPOLYMERS FILMS MARKET ANALYSIS

Global Fluoropolymers Films market was valued at US$ 1.9 Bn in 2022, exhibiting a CAGR of 6.31 % in terms of revenue, over the forecast period (2023 to 2030) to reach US$ 3.1 Bn by 2030. Fluoropolymer films consist of fluorine and carbon molecules and are high-performance polymer films. These films are widely used across high-temperature applications and extremely harsh chemical conditions. They are highly resistant to chemicals, and moisture, offer non-stick performance, and have optical transparency. These films are used for cable insulation, composite mold release, roll covers, pharmaceutical liners, anti-corrosive linings, adhesives, photovoltaic cells, microphone membranes, surface coverings, airbags, anti-graffiti coverings, and fuel hoses. Moreover, they are also used across the pharmaceutical industry as blister packaging materials.

Global Fluoropolymers Films Market- Impact of Coronavirus (Covid-19) Pandemic

The COVID-19 outbreak has majorly impacted the Global Fluoropolymers Films market, owing to the strict lockdown and stringent regulations, followed by the government. The global fluoropolymer films industry is anticipated to slow down during the next few years as a result of the COVID-19 epidemic. Lockdowns conducted by governments have caused factory closures in many towns and provinces around the world, raising concerns about a sudden decline in output in industries ranging from packaging to construction. Also, one of the major factors that is anticipated to have a negative impact on the expansion of the market for fluoropolymer films is the recent reduction in construction activity. Moreover, once production activities are suspended, businesses must deal with lost revenues and damaged supply chains.

Global Fluoropolymers Films Market - Growth Drivers

• The rising demand for blister packaging from the pharmaceutical industry

The rising demand for blister packaging from the pharmaceutical industry is projected to propel the growth of the global fluoropolymer film market. It is a 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 preventing 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

Growing demand for fluoropolymer films across end user industries such as machines, electronics, automobiles, and semiconductors due to their excellent chemical and physical properties is 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, the rising demand for product from the aforementioned industries is accelerating market growth. 

Global Fluoropolymers Films Market - Restraints

• The complex manufacturing process of fluoropolymer films

The complex manufacturing process of fluoropolymer films is another major factor expected to hinder 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.

Figure .1 Global Fluropolymers Films Market, By End User Industry, 2022

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• Fluctuating prices of raw materials used to produce fluoropolymer films

Fluctuating prices of raw materials used to produce fluoropolymer films are expected to hinder 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.

Figure .2 Global Fluoropolymers Films Market, By Region, 2022

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Market Opportunities

• The rising demand for fluoropolymer films from the construction industry

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 various infrastructures in order to protect against extreme weather conditions, fading, and cracking. Therefore, the rising demand for fluoropolymer films from the construction industry is augmenting the market growth of fluoropolymer films over the forecast period.

• Growing demand for fluoropolymer films from the defense industry

Growing demand for fluoropolymer films from the defense industry is expected to augment the market growth in the near future. In the defense industry, it is used to package 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.

Market Trends

• Increasing penetration of smartphones, tablets, and watches is expected to accelerate the market growth of fluoropolymer films. The Polytetrafluoroethylene and polyvinylidene fluoride 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.
• Several producers are concentrating on raising fluoropolymer film manufacturing capacity to match the increased demand, which is anticipated to fuel market expansion. For instance, in April 2018, Arkema starts new fluoropolymer production capacities in the U.S. 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.

On the basis of end use, in 2022, packaging accounted for the largest market share of 29% in terms of revenue, followed by industrial & equipment and automotive & aerospace, building & construction, and electrical & electronics respectively. The packaging segment held the largest market share in 2022 and is further projected to grow at the highest CAGR during the forecast period owing to rising the need for packaging in various applications such as food, pharmaceuticals, and industrial packaging. In addition, they are appropriate for a variety of packaging applications due to their superior barrier, chemical resistance, and non-stick qualities.

In addition, the industrial & equipment segment holds the second largest share after the packaging segment in 2022. Fluoropolymer films are utilized in a variety of industrial applications, including gasket materials, wire and cable insulation, and electrical insulation. They provide superior chemical and electrical resistance, reduced friction, and tolerance to high temperatures.

Global Fluoropolymers Films Market– Recent Developments

• In October 2022, Fluon ETFE high-performance fluoropolymer resins, developed by AGC in 1972, have been employed in thousands of applications all over the world.
• In September 2020, Daikin presented its cutting-edge solutions for applications in semiconductor production at SEMICON Taiwan. Daikin is world's leading air conditioning manufacturer.
• Arkema has increased its previously indicated 35% fluoropolymer capacity expansion at its Changshu facility in China to a capacity increase of 50% on January 2022 due to the strong demand for lithium-ion batteries and other important markets.
• The Fluon+ EM-20010 chemicals were introduced by AGC Chemicals Americas in March 2021. In addition to melt-processible copolymers consisting of ethylene and propylene, Fluon+ EM-20010 compounds contain a specialized component that effectively suppresses bacterial and viral growth.
• In September 2019, Daikin America, Inc. declared that it would spend up to $195 million to grow its operations in Decatur, Alabama. It was envisaged that this development will strengthen the infrastructure, facilitate Research, and boost the capacity to produce polymers and associated monomers development (R&D). The construction process began in January 2020. .Daikin is world's leading air conditioning manufacturer.

Global Fluoropolymers Films Market– Regional Insights

Geographically, Asia Pacific dominated the global fluoropolymer films market in 2022 reporting 38% market share in terms of revenue, followed by North America and Europe, respectively. Asia Pacific held the largest revenue share of 38 % in the global Fluoropolymers Films market in 2022 and is expected to maintain its dominance over the forecast period. Furthermore, Asia Pacific region is projected to be the fastest-growing region in the global Fluoropolymers Films market during the forecast period. Moreover, due to increased middle-class disposable income and an expanding market for electronic goods, it is projected that both demand and output for electronics in China would rise. As the market for electronics grows, it is anticipated that demand for fluorescent polymer sheets in the upcoming forecast period. The residential and commercial growth in China during the last two years has contributed to the industry's overall rise in terms of volume and value. The Indian government has taken many steps to promote the growth of the domestic electronics manufacturing industry and exports from the country. The Modified Special Incentive Package Scheme (M-SIPS) allows for a 20–25% subsidy on the construction of an electronics manufacturing facility. There have been 212 projects funded, with projected investments worth US$ 6,74,81,73,670 Bn. The Indian Electronics and Semiconductor Association (IESA) and the Singaporean Semiconductor Industry Association (SSIA) have also signed an MoU to promote trade and technological collaboration between the two countries' electronics and semiconductor industries. This is projected to result in the development of several innovative semiconductor manufacturing technologies, which are anticipated to increase the market size investigated in the prospective application sector for India.

During the forecast period of 2023–2030, Europe is expected to experience the fastest growth. Germany is home to several manufacturers, including those from the equipment, material, component, engine, and full system integration industries. Germany is one of the top places for the production of airplane sectors.

Competitive Section

Global Fluoropolymers Films Market – Key Players

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.

*Definition: Modern materials like fluoropolymer films give parts or manufacturing processes exceptionally chemical resistance, transparency, weather resistance, heat resistance, and electrical properties, among other things.