Authored By: Sarah
11 Jul 2024

 Fluoropolymer Coating Market Size to grow by USD 573.32 million between 2024-2028

According to a research report “ Fluoropolymer Coating Market” by Application (Building and construction, Electrical and electronics, Food processing, Chemical processing, Others) Type (Polytetrafluoroethylene (PTFE) coating, Polyvinylidene fluoride (PVDF) coating, Fluoroethylene propylene (FEP) coating, Ethylene tetrafluoro ethylene (ETFE) coating, Others) Geography (APAC, North America, Europe, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 573.32 million, at a CAGR of  5.29% during the forecast period. In accordance with World Bank projections, approximately 50% of the global populace is anticipated to reside in urban areas by the year 2050. This demographic shift necessitates swift action from governments to accommodate expansion, provide essential services, and construct infrastructure and affordable housing to cater to the burgeoning urban population. Urbanization, which accounts for over 80% of the global GDP, holds the potential for sustained economic growth if effectively managed. However, the expansion of cities brings about an escalating demand for affordable housing, efficient transportation networks, and fundamental infrastructure, as well as employment opportunities. Notable countries in the Asia-Pacific region, including China, India, Indonesia, Bangladesh, Japan, and Malaysia, are among those experiencing significant urban growth.

Browse market data tables, figures, and in-depth TOC on “Fluoropolymer Coating Market” by Application (Building and construction, Electrical and electronics, Food processing, Chemical processing, Others) Type (Polytetrafluoroethylene (PTFE) coating, Polyvinylidene fluoride (PVDF) coating, Fluoroethylene propylene (FEP) coating, Ethylene tetrafluoro ethylene (ETFE) coating, Others) Geography (APAC, North America, Europe, South America, Middle East and Africa) Global Forecast to 2028. Download Free Sample

 

By Application, the Building and construction segment is projected to dominate the market size in 2024

PTFE, or polytetrafluoroethylene, is a high-performance fluoropolymer recognized for its ivory-white and opaque, low-friction properties. This versatile plastic is manufactured by polymerizing Tetrafluoroethylene (TFE) monomers. PTFE, commonly known as Teflon, is extensively utilized in various industries due to its exceptional properties, including outstanding chemical resistance, a low coefficient of friction, good dielectric characteristics, superior corrosion protection, and high thermal stability and flame resistance. Prime industries such as pharmaceuticals, automotive, aerospace, medical devices, and telecommunications heavily rely on PTFE coatings for their applications. In commercial sectors, PTFE is employed as a coating material for utensils, specifically baking and kitchen pans, due to its superior non-stick properties.

By Type, Polytetrafluoroethylene (PTFE) coating  segment is expected to hold the largest market size for the year 2024

Fluoropolymer coatings hold significant importance in various industries, including food and beverage, oil and gas, and automobile manufacturing, due to their exceptional properties. The fluorine atom, a key component of these coatings, boasts high electronegativity and low polarizability, leading to stronger and more energy-efficient fluorine bonds compared to CH bonds. This makes fluoropolymer coatings highly sought-after for their durability and resistance to weathering in architectural coating applications. However, the demand for fluoropolymers experienced a decline in 2020, particularly within the industrial coating sector.

APAC is forecasted to hold the largest market size by region in 2024

The Asia Pacific (APAC) region dominates the global fluoropolymer coating market, accounting for the largest share in 2021. The region's leading position is attributed to the burgeoning construction sector, particularly in residential and non-residential segments, driven by government initiatives and increasing urbanization in countries like China, India, and others. In India, the Housing for All 2022 initiative aims to provide affordable housing for every resident by 2022. The Indian real estate market is projected to reach USD1 trillion by 2030, with the construction industry playing a significant role in driving the demand for fluoropolymer coatings.

The Fluoropolymer Coating Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • PTFE Applied Coatings
  • Akzo Nobel NV
  • Daikin Industries Ltd.
  • DuPont de Nemours Inc.
  • Endura Coatings
  • BASF SE
  • Beckers Group
  • PPG Industries Inc.
  • TIGER Coatings GmbH and Co. KG
  • The Chemours Co.
  • Chem Processing Inc.
  • 3M Co.
  • AGC Inc.
  • Axalta Coating Systems Ltd.
  • The Sherwin Williams Co.
  • Metal Coatings Corp.
  • Toa Resin Corp. Ltd.
  • Nippon Paint Holdings Co. Ltd.
  • Innocoat Systems I Pvt. Ltd.
  • Tnemec Co. Inc.
.

For insights on company offerings- Request a sample report!

Research Analysis Overview

The Fluoropolymer Coating Market encompasses a wide range of high-performance coatings based on polymeric structures, including Ethylene-tetrafluorinated ethylene polymers (ETFE), Polyvinylidene difluoride (PVDF), and Ferroelectric polymers. These coatings offer exceptional properties such as abrasion resistance, anti-galling, electricity-resistant, and chemical resistance, making them ideal for various industries. In the Electrical Electronics sector, Fluoropolymer Coating Systems are extensively used due to their excellent insulating properties. In the Food Processing industry, they ensure corrosion protection and maintain the hygiene standards. The Defense sector leverages their unique properties for coating military equipment for enhanced durability and performance. Coating manufacturers produce Fluoropolymer Coating Systems using various additives, pigments, solvents, and binder resins. Fluoropolymer Resin forms the backbone of these coatings. The Vehicle Market and Auto Component Manufacturing sectors also benefit from these coatings due to their high-performance characteristics. The Industrial Sector and Renewable Energy Sector are other significant consumers of Fluoropolymer Coatings. Overall, the market for Fluoropolymer Coatings continues to grow, driven by the increasing demand for high-performance materials in various industries.

Market Research Overview

The Fluoropolymer Coating Market encompasses a wide range of industries and applications, including crude steel, stainless steel, cast iron, brass, aluminum, and other metallic substrates. In the metal segment, fluoropolymer coatings are used for architectural coatings, electronics, aircrafts, semiconductor equipment components, chemical tank liners, and more. Non-metal applications include textiles, oil and gas, and chemical processing. Thermoplastic fluoropolymers such as Polyvinylidene Difluoride (PVDF), Copolymer of Ethylene and Tetrafluoroethylene (ETFE), Polyphenylene Sulfide (PPS), Xylan, and Zinc, Copper, and Aluminum-based fluoropolymers are commonly used. These high-performance coatings offer excellent abrasion resistance, anti-galling properties, electricity-resistance, and chemical resistance for corrosion protection. Fluoropolymer coatings find extensive use in various sectors such as electrical vehicles, aerospace, pharmaceutical, defense, and coating manufacturers. Additives, pigments, solvents, binder resins, and fluoropolymer resin are essential components of fluoropolymer coating systems. The market for these coatings is driven by the increasing demand for high-performance coatings in the vehicle market, auto component manufacturing, polymeric materials, industrial sector, renewable energy sector, and electrical electronics.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

Read News Read Less
Interested in this report?
Get your sample now!
Technavio