Fluoropolymer Films Market Outlook, Research, Trends and Forecast to 2024
Date: 2018-09-20   Author: Rahul Varpe  Category: #market

Fluoropolymer Films Market Outlook, Research, Trends and Forecast to 2024

APAC held 30% of the overall Fluoropolymer Film Market share in 2016 and has been forecast to witness the fastest growth by 2024. As per estimates, India is anticipated to stand third in the global construction market by 2025 with a forecast size of USD 1 trillion. Indeed, this mammoth valuation can be credited to the extensive flurry of projects related to building and road construction, irrigation facilities, urban infrastructure, railways, and more. China’s construction industry has also been growing at an unprecedented pace. Undeniably, this growth commands the requirement of construction friendly material, which would gradually propel APAC fluoropolymer film market.

Arkema’s decision of raising its fluoropolymer prices has lately been monopolizing all the attention in fluoropolymer film market. Keeping in line with the rising upsurge in raw material costs, Arkema recently announced that effective 1st April 2019, the company will increase the costs of its Kynar® fluoropolymer product ranges by 6% to 9% across the Asia Pacific. The price increase is also being attributed to the numerous investments that the fluoropolymer film market firm has made in compliance, capacity expansions, and research & development programs.

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Arkema’s decision on the price surge is just one of the many instances that major participants in fluoropolymer film industry have been adopting of late. The change comes along the lines of the shift in strategy adoption in the major industrial spheres. Globally reputed manufacturers have been working toward producing value-added solutions that are highly customized to suit the consumer’s tastes and requirements. Endowed with an application base inclusive of construction, pharmaceuticals, transportation, industrial processing, and more from the big league, fluoropolymer film market has also evolved to be a consumer-centric business in the recent years.

Fluoropolymers are noted for their exceptional abilities such as thermal stability, flame retardancy, weatherability – effectively, all the characteristics playing a vital role in ensuring strong and efficient construction. It thus, goes without saying that construction will account for a major proportion in fluoropolymer film market share. Fluorine-based organic polymers are widely used for the manufacturing of anti-graffiti coverings, corrosion protection material, fiberglass composites, water-repellent architectural fabrics, and more.

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Owing to their UV stability, mechanical strength, chemical resistance, weldability, and moisture resistance, they have been tagged as the go-to product for residential, industrial, and commercial construction projects. In consequence, this has had a positive impact on fluoropolymer film market growth from the construction sector. In fact, as per estimates, construction accounted for quite a major share in this business space in 2016 and is expected to grow at a CAGR of around 5% over 2016-2024. As the construction sector continues to depict an upward growth trend, fluoropolymer film industry is likely to progress with equal gusto, making it a highly profitable venture for stakeholders.

Given that the construction domain is one of the most lucrative end-use sectors of fluoropolymer market, the APAC zone subsequently stands as one of the most remunerative growth grounds for fluoropolymer film industry. India and China, two of the most progressive nations of the APAC, are expected to be the most prominent revenue grounds for the expansion of fluoropolymer film market in the Asia Pacific. This can be mainly attributed to the flourishing construction sector across these countries.

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With the recent spike in raw material demand and supply, chemical manufacturers have been upscaling their production strategies to involve high-grade tech developments. In this regard, fluoropolymer film market players have also been brought about high-cost technologies to be incorporated in the end product, that have been conceived via complex production methodologies. While this has proved to be lucrative for product sales, it has hindered the growth of fluoropolymer film industry to an extent. That is to say, new entrants have been finding it difficult to adopt the latest, exorbitant, patented manufacturing technologies. This is rather overt from the observation that in 2016, fluoropolymer film market was found to be quite price competitive.

With lack of new entrants, the business space has lately been depicting the characteristic of backward integration. Indeed, leading players have even been engaging themselves in the production and pricing strategies of fluoropolymers in order to consolidate their position the overall fluoropolymer film industry. Endorsed by a profitable end-use landscape, fluoropolymer film market is certain to fall among the more profitable verticals of the overall polymers space by 2024.

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Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for AlgosOnline. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. ...

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