The increasing demand for high-performance coating solutions across the industry owing to changing consumer preference and improving quality of life is creating market for new coating solutions. Fluoropolymer coating is a type of high-performance coating provides non-stick properties, reduce friction, resistance to corrosion, and has the ability to withstand high temperature environment. Owing to which, a large number of industries are applying fluoropolymer coating on the products in order to increase the life of product and provide a high grade final product to the consumer. Industries like aerospace and defense, automotive, industrial, food processing, electrical & electronics, and building and construction are among the largest consumer of fluoropolymer coatings. Therefore, growing demand from aforementioned industry demand of fluoropolymer coating would also grow. However, in 2020, demand has witnessed a sharp decline owing to low-industrial production in the light of COVID-19, which eventually impact the dynamics of fluoropolymer coating. For instance, production of automobiles fall by 15.5% in 2020 as compared to 2019.
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According to UnivDatos Market Insights (UMI)’ research report “Global Fluoropolymer Coating Market”, the market is expected to showcase growth of ~5% during the forecast period 2021-2027F. Increasing demand for high-performance coating and Growing end-use industries are some of the key attributable factors for the growth of the market
Based on type, the market is categorized into PTFE, FEP, ETFE, PVF, PVDF, FEVE, and Others. Among these, PTFE held the lucrative share in the market and is expected to showcase robust growth during the forecast period owing to large and growing application areas. Due to its vast range of properties, it is widely used in aerospace and defense, industrial, cookware, and automotive.
Further, advancement in digital technology resulted in the requirement of low-latency network in order to deal with large sets of intricate data. 5G communication technology has the capability to provide high-frequency transmission, however in order to do so low dielectric materials are required in 5G networking equipment’s such as base station filters, high-frequency, high-speed PCB / FPC, 5G chip manufacturing process, and high-frequency connectors, cables and other areas. PTFE is among the most preferred organic material in 5G networking equipment’s, as it has one of the lowest dielectric constant among organic materials. Therefore, with the increasing deployment and advancement in 5G technology, demand of PTFE is also increase
Based on end-user, the market is categorized into aerospace and defense, industrial, automotive, food processing, electrical & electronics, building and construction, and others. Among all, electrical & electronics industry is likely to showcase robust growth during the forecast period. As the demand of semiconductor witnessed robust growth in 2021, therefore chip manufacturer has taken several initiative to reduce the supply-demand gap. This in turn would boost the demand of fluoropolymer coating. PTFE or Teflon is used by semiconductor manufacturers to prevent chip and component contamination from airborne particles. Further, coating have superior reliability, retention, and durability while also preventing contamination of any kind. In addition, it is expected that by 2026, more than half of all mobile data traffic will travel over 5G networks. Faster networks depend on PTFE melt polymers and coatings to keep the data reliably flowing.
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Asia pacific accounted for the significant share in the Fluoropolymer Coating market
Asia Pacific accounted for the prominent share in the global fluoropolymer coating market owing to large base of end-use industry including electrical & electronics, building and construction, cookware, industrial, and automotive. Further, large and growing population couple with rapid urbanization is supporting the industrial production in the region. Besides large demographic, improving per-capita income and disposable income is encouraging consumer to purchase high quality products, thereby increasing the demand fluoropolymer coating. Further, the region is expected to showcase robust growth during the foreseeable future as well due to semiconductor industry facility expansion in order to deal with growing demand. Government favorable policies to support the semiconductor industry is luring international companies to open their manufacturing facility in the regional country. For instance, Government of India, envisioned a comprehensive program for developing semiconductors and display manufacturing ecosystem in India with a budget of over USD 10.2 billion (INR 76,000 crore).
According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the global Fluoropolymer Coating market include The Chemours Company, PPG Industries Inc., Akzo Nobel N.V., Daikin Industries Ltd., BASF SE, The Sherwin-Williams Company, Tnemec Company Inc., Axalta Coating Systems Ltd., Kansai Nerolac Paints Limited, and KCC Corporation. These companies are taking several strategic decisions to meet the growing demand and increase their market share.
“Global Fluoropolymer Coating Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor’s capabilities on different parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
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- By Base (Water-Based, Solvent-Based, and Others)
- By Type (PTFE, FEP, ETFE, PVF, PVDF, FEVE, and Others)
- By End-User (Aerospace and Defense, Industrial, Automotive, Food Processing, Electrical & Electronics, Building and Construction, and Others)
- By Region (North America (US, Canada, Rest of North America), Europe (Germany, UK, France, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of APAC), and Rest of World)
- By Company (The Chemours Company, PPG Industries Inc., Akzo Nobel N.V., Daikin Industries Ltd., BASF SE, The Sherwin-Williams Company, Tnemec Company Inc., Axalta Coating Systems Ltd., Kansai Nerolac Paints Limited, and KCC Corporation)
Key questions answered in the study:
- What are the current and future trends of the global Fluoropolymer Coating industry?
- How the industry has been evolving in terms of base, type, and end-user?
- How the competition has been shaping across the countries followed by their comparative factorial indexing?
- What are the key growth drivers and challenges for the global Fluoropolymer Coating industry?
5. What are the customer orientation, purchase behavior, and expectations from the global Fluoropolymer Coating suppliers across various region and countries?