The global fluoropolymers market is poised to grow steadily attributed to the increasing demand for polymers to manufacture semiconductors used in electrical appliances such as smartphones and computers. The global fluoropolymers market size was valued at USD 7.92 billion in 2023 and is projected to grow from USD 8.32 billion in 2024 to USD 12.63 billion by 2032, exhibiting a CAGR of 5.4% during the forecast period.
A fluoropolymer is a polymer-based on fluorocarbon with many carbon-fluorine bonds and has high resistance to acids, bases, and solvents. A detailed analysis of the market is provided by Fortune Business Insights™ in their recently published report titled, “Fluoropolymers Market Size, Share & Industry Analysis, By Type (Polytetrafluoroethylene (PTFE), Polyvinylidene fluoride (PVDF), Fluorinated ethylene propylene (FEP), Ethylene Tetrafluoroethylene(ETFE), Perfluoroalkoxy alkanes (PFA), Polyvinyl fluoride (PVF), Others), By End-User (Industrial, Automotive, Electrical, Others (Food & Pharmaceutical, Cookwares, Medical)) Others and Regional Forecast, 2024-2032”
Source: https://www.fortunebusinessinsights.com/fluoropolymers-market-102132
What are the Report Highlights?
The report offers a 360-degree overview of the market and its growth parameters such as restraints, drivers, challenges, and upcoming opportunities. It also throws light on the table of segmentation of the market based on factors such as type, end user, and regions. The report emphasizes on significant industry developments, current fluoropolymers market trends, and other interesting insights into the market. Besides this, it enlists the number of manufacturers operating in the market and their key strategies to attract high revenues in the forecast period.
Market Drivers
Increasing Demands from Construction Industry will Bolster Growth
The increasing demand for fluoropolymers from various end-use industries such as electronics, aerospace and other defense-related sectors is a major factor propelling the fluoropolymers market growth. Additionally, the increasing growth in PV installations will add impetus to the growth of the market in the coming years.
This, coupled with the rising demand from construction and automotive industries will also augment growth. However, the high cost of high-performance file system materials as compared to other conventional materials may cause major hindrances to the market in the coming years.