Fluoropolymer Film Market Size, Industry Analysis Report, Regional Outlook (U.S., Germany, UK, Italy, Russia, China, India, Japan, South Korea, Brazil, Mexico, Saudi Arabia, UAE, South Africa), Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024
Report ID: GMI1441
Global Fluoropolymer Film Market size is anticipated to expand at a significant growth rate during the forecast period. The growth is attributed to its consumption in numerous industries like personal care products, automobiles, packaging, electrical & electronics, and construction.
The major application of fluoropolymer films is in packaging industry owing to its chemical resistant properties, and tensile & durable packaging offered by it. As per “The Association for Packaging and Processing Technologies”, flexible packaging industry of the U.S. was USD 31.1 billion in 2014 and had registered a CAGR of 3.8% from 2004 to 2014. This growth is due to the packaging application in end-use industries such as decorative interiors, food & beverages, and construction. Thus, propelling packaging industry is set to drive the fluoropolymer film market during the forecast period.
Flexible packaging is essential in food & beverage industry specially for ready to eat meals, and frozen foods. According to “The Association for Packaging and Processing Technologies”, food packaging market in the U.S. is forecast to witness CAGR of 2.9% between 2016 and 2022. Further, increasing adaptability of flexible packaging for beverages due to their ease in handling, availability in different shapes and sizes has strengthen its market. Increasing adoption of flexible packaging is expected to boost the fluoropolymer film market.
Fluoropolymer films are used significantly in construction sector on doors and windows for safety and security application. Furthermore, these films possess the properties of temperature control, light control, excellent aesthetic appearance and protection from UV rays. Escalating commercial and residential projects in countries like India and China and rising adoption of these films in other emerging regions has propelled the fluoropolymer film market.
Electrical & electronics industry has initiated the use of fluoropolymer films to give a better aesthetic appearance to their devices and products. These films are utilized for the internal operations of the electronic devices. Increase in consumer awareness about the electronics products and the multiple use of the electrical devices have led to growth of this industry. Thus, growing electrical & electronics industry complements the fluoropolymer film market during the forecast period.
These films are used in vehicles for tinting windows, and in some regions, it is mandatory to tint the window as per the government regulations. The surge in upper class segment population and rising income levels has given a boost to automobile demand. Further, the market for high end luxurious cars is at its peak as it delivers a status symbol for its users. Thus, improving automobile market is likely to enhance the fluoropolymer films industry. Precursor in fluoropolymer manufacturing is crude oil, and volatility of crude oil prices will affect the market. This in turn can hamper growth of the market during the forecast period.
Based on product type, fluoropolymer film market is divided into Fluorinated Ethylene Propylene (FEP), Polyvinylidene Fluoride (PVDF), Polytetrafluoroethylene (PTFE) and Fluor elastomers. On the basis of application, it is classified as safety and security, microporous, decorative and barrier. Depending upon the end-user industry the fluoropolymer film market is segmented as food & beverages, personal care products, electrical & electronics industry, construction, automobiles, and packaging.
North America is anticipated to contribute significantly in terms of revenue in fluoropolymer film market. Prospering food & beverage industry specially frozen foods like meat etc and beverages packed in tetra-packs has given a boost to fluoropolymer film consumption in this region. North America is expected to remain a dominant region during the forecast period. Asia Pacific accounts for a decent share in the market owing to its booming industries such as automobiles, construction and packaging. The region is led by the countries like, India, China and Philippines. Increase in the need of infrastructural development and rise in the disposable income of the population has made this region a significant contributor in the market.
Key manufacturers in fluoropolymer film market are The 3M Company, Sealed Air Corporation, Eastman Chemical Company, Honeywell International, Inc., Evonik Industries, Bemis Company Inc., Bayer AG, E. I. du Pont de Nemours, The Dow Chemical Company.
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