High Performance Fluoropolymer Market – Global Opportunity, Growth Analysis up to 2024

The high performance fluoropolymer (HPF) market is projected to grow from USD 3.3 billion in 2019 to USD 4.6 billion by 2024, at a CAGR of 6.9% during the forecast period. The growth of the high performance fluoropolymer industry can be attributed to its high demand from various end-use industry and growing demand from PV installations.

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PTFE is the most widely used type of HPF and accounted for the largest market share. There is an increase in the use of dispersion and fine powder PTFE, for various applications, especially in North America and APAC. It is used in a wide range of applications such as semiconductor, automotive components, electrical appliances, and non-stick cookware. The growing applications in the electrical & electronics industry are expected to trigger the demand for PTFE, especially in advanced batteries and fuel cells.

This research report categorizes the HPF market based on type, form, end-use industry, and region.

By Type:

PTFE
FEP
PFA/MFA
ETFE
Others (Includes ECTFE and PCTFE)

By Form

Coatings
Films & Membranes
Tubing
Others (Includes wire & cable, mechanical components & parts, additives, and liners)

By End-use Industry

Industrial Processing
Chemical processing
Oil & Gas
Power Plants
Water Treatment
Food Processing
Transportation
Automotive
Aviation
Electrical & Electronics
Telecommunication
Semiconductors
Electronic Components
Defense Electronics
Medical
Medical Devices
Pharmaceutical & Biotechnology
Others
Building & Construction
Consumer Household

By Region

North America
APAC
Europe
RoW

The HPF market has been further analyzed based on key countries in each of these regions.

APAC is expected to be the fastest-growing market for HPF, owing to the presence of large manufacturing and highly populated countries, such as China and India. China, India, Japan, Indonesia, and South Korea are some of the key countries in the HPF market in this region. In 2018, China accounted for the largest share of the APAC market, owing to the presence of huge chemical, automotive, medical, and electronics industries. The growing production of automobiles, consumer household, medical disposables, and their increasing demand across the region boosts the demand for HPF. Growth in the manufacturing of automobiles and electronics hardware across the region is expected to grow further with changing demographics. Owing to which APAC is projected to be the fastest-growing HPF market.