Flouropolymer Coating materials provide products with a smooth surface finishing, lubrication, non-wetting protecting properties, impermeability to gasses, and high resistance to moisture (water and oils), chemicals, corrosion, UV radiation, and chalking. Flouropolymer Coating last for a long time, thus it reduces recoating costs and the consumption of raw materials.
Due to these exceptional properties, these coatings find their applications in diverse industries such as building & construction, oil & gas, automotive, aerospace, industrial, and food processing for applications ranging from cooking pans to catheters (medical devices). Naturally, these coatings witness a huge demand across some burgeoning industries that resultantly drive the market growth of Flouropolymer Coating.
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Acknowledging the kind of traction gained by this market, Market Research Future (MRFR) has recently published a study report. In its report, MRFR foretells that the Global Flouropolymer Coating Market is expected to grow exponentially by 2023, registering a phenomenal CAGR during the forecast period (2017 – 2023).
In addition to automobiles, these coatings also witness huge uptake in the aviation (aircraft manufacturing) industry. As the demand for aircraft carriers arises, so the demand for flouropolymer coating increases. Burgeoning aircraft and automotive industry drive the market growth of flouropolymer coating. Furthermore, rising automobile production and sales along with the increasing consumption of lubricants are estimated to fuel the growth of the market.
Additional factors driving the market growth include increasing population along with the increasing urbanization & industrialization worldwide. Industries like automotive & transport, electrical & electronics, and building & construction, backed by the increasing sales due to the consumers ‘improving purchasing power led by the improving economic conditions are driving the market growth, augmenting the demand for flouropolymer coating.
Industry/ Innovation/Related News:
July 28, 2018 – Daikin Industries, Ltd. (Japan) announced its plans to test the US market for a new type of fluoropolymer. If the US market warms up to the resin, Daikin plans to proceed with a US$200 Mn. expansion at its plant in Decatur, Atlanta. However, a 25% import tariff that the US is planning to impose on fluoropolymers and other products from China threatens Daikin’s plan.
February 08, 2018 – Precision Coating Co., Inc. (PCCI – US), a leading global specialty anodic coating and printing expert presented its medical device fluoropolymer applicator at the Medical Design and Manufacturing (MD&M) West Conference and Expo 2018. The company engineers innovative surface modification solutions to enhance the value and performance of medical wire, devices, and instruments.
Global Flouropolymer Coating Market – Competitive Analysis
Flouropolymer Coating Market appears highly competitive. This competition will further get intensified with the high investments estimated to transpire during the forecast period. Innovation, mergers & acquisitions, and brand reinforcement remain the key trends for leading players in the market.
Flouropolymer Coating Market – Regional Analysis
Globally, Asia Pacific accounts for one of the promising markets for Flouropolymer Coating followed by North America and Europe region respectively. The APAC region is estimated to register the highest CAGR during the review period owing to some of the burgeoning industries such as oil & gas, food processing due to the extensive use of the coating to protect machinery in these industries.
The ensuing increase in foreign investments and a rise in the number of new manufacturing establishments will contribute to the market growth in APAC. Also, widened uptake of PTFE coat for cookware products along with the growing activities of crude oil processing and petroleum refineries especially, in India and China are some of the forces driving the market growth.
Flouropolymer coating market in the Asia Pacific is predicted to grow with the moderate CAGR over the assessment period due to the burgeoning automotive sector in various developing nations of APAC such as India, China, Japan, Malaysia, and Thailand. Additional factors such as the growing GDP, rapid industrialization, growing production and industrial bases, increased demand to save energy and reduce greenhouse emissions are substantiating the market growth in the region, augmenting the demand for Flouropolymer Coating.
Attributing to the expanding aviation industry in the region, the North America Flouropolymer Coating Market is expected to grow with the highest CAGR during the review period, 2017 to 2023. The market in the US, Canada, and Mexico enjoy augmented demand due to the high adoption rate of the product by the petrochemical producers. Additional factors substantiating the market growth include the presence of large oil & gas reserves in this region, increasing production capacities and high consumption potential. The US, backed by the growth in the production of crude oil is expected to account for the major contributor to the growth of the regional market.
The Europe Flouropolymer Coating market is another promising space on the global level. The market is witnessing huge demand for Flouropolymer coating especially due to the growing demand from the countries such as Germany, Italy, Spain, France, the U.K, and Russia backed by the increased expenditure in innovation and growing purchasing power of consumers. Furthermore, the presence of major automobile manufacturers specifically in Germany is providing an enormous impetus to the market growth in the region.
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