According to a new research report by Global Market Insights Inc., the fluoropolymer films Market size will exceed USD 3.11 billion by 2026. Increasing infrastructural investments coupled with expansion in pharma industry will augment the industry growth.
Growing pharmaceutical industry coupled with expansion of construction sector shall increase market revenue
Ageing population in conjunction with increase in chronic diseases are contributing towards higher demand of medication. Pharmaceutical packaging plays a vital role in ensuring the protection and stability of product throughout the shelf life. Fluoropolymers films exhibit superior properties such as low coefficient of friction, chemical resistance, weather stability and low dielectric constant. Their unique properties make them suitable for use for pharmaceutical industry.
For instance, in the medical & healthcare industry, blister packaging material is significantly used for packing medical instruments in external protection and production of porous microfilters. This packaging material is composed of multilayered films which include the fluoropolymer film.
Cell culture bags, cryogenic preservation, and coated surgical instruments utilized in healthcare industry require high performance materials with optimum biocompatibility. Fluoropolymer films provide enhanced capabilities of chemical resistance and higher purity of medical and pharmaceutical devices. Superior protection offered by fluoropolymer films during prolonged cryopreservation to -400F and vitrification practice will augment the fluoropolymer films market demand.
Complex manufacturing process of fluoropolymer due to involvement of several stages of chemical fusion increases the cost of production. On account of the same, some of the companies are increasing their product prices to achieve marginal profits. For instance, in March 2018 the Chemours Company increased the price of Teflon PTFE products by 10%.
Leading market players are heavily investing on R&D for innovating better technology. Apart from this, installation and maintenance cost of implementing advance technology increases the operational cost of manufacturing companies. Thus, rise in production cost will hamper the global fluoropolymer films market to during the forecast timeframe.
Browse key industry insights spread across 498 pages with 723 market data tables & 34 figures & charts from the report, “Fluoropolymer Films Market By Polymer [(PVDF (Polyvinylidenefluoride), FEP (Fluorinated Ethylene Propylene), PTFE (Polytetrafluoroethylene), PFA (Perfluoroalkoxy), (ECTFE) (Ethylene ChloroTriFluoroEthylene), PCTFE (Polychlorotrifluoroethylene), PVF (Polyvinyl Fluoride), ETFE (Ethylene Tetrafluoroethylene), THV (Terpolymer Of Tetrafluoroethylene, Hexafluoropropylene And Vinylidene Fluoride)], By End-user Industry (Construction, Transportation, Electrical & Electronics, Industrial Processing, Medical & Healthcare), Industry Analysis Report, Regional, End-user Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
Increasing FEP films applications in 3D printing
Fluorinated ethylene propylene (FEP) films held a revenue share of over 10% in the overall fluoropolymer films market, they are widely used as release films for molding and 3D printing applications, as well as gas sample bags. FEP is a copolymer of hexafluoropropylene and tetrafluoroethylene that shares similar traits of polytetrafluoroethylene i.e. low friction and chemical resistance properties.
FEP has superior coating properties, it is an excellent electrical insulator and has very low coefficient of friction with thermal stability. Its high crack stress resistance, chemical and abrasion resistance along with superior retention propertie makes fluorinated ethylene propylene coatings a preferred choice in food & beverage industry. Food grade coatings have various advantages such as ability to withstand over wide range of temperature, non-stickiness, moisture retention etc.
Rising population to escalate product demand from construction sector
Fluoropolymer films products can be laminated, dis-stamped, thermoformed, and heat-sealed for wide range of applications. Their utilization in construction activities is growing at remarkable pace owing to its weather stability and chemical resistance properties. This segment will grow at over 4.5% CAGR. In construction sector their applications include facades or roof membranes, protective coatings, anti-corrosive linings, erasable surface covering, etc.
Shifting consumer focus toward the adoption of several construction techniques for green buildings along with surging preferences toward environment-friendly materials will bring about potential opportunities for fluoropolymer films market players over the projected timeframe.
Transportation sector shall drive product demand in Europe
Europe will account for a notable market share of over 18% in 2026 owing to the growing transportation sector across the region. Strong presence of automobile manufactures along with rising demand for commercial and regional aircrafts is positively influencing the product penetration in end-use industries.
Surging utilization of these films in automotive exteriors is attributed towards their weather and UV resistance capabilities. Further, expansion of manufacturing plants and capacities will result in increased demands for automotive exterior parts, thereby escalating the fluoropolymer films market growth.
Geographical expansions with increased output can be a game changer for industry players
Increasing production capacities with improved technology are key growth strategies for potential business capturing. In May 2018, Arkema set-up a new Kynar fluoropolymer production capacities in the U.S. With this expansion, the company’s overall production capacity increased by 20%.
This strategic initiative has generated significant fluoropolymer films market revenue and increased its production volume. Recently, in September 2019, Daikin America Inc., announced an investment of USD 195 million to expand its production site in Decatur, USA. This move has significantly expanded its geographical reach.