Global Fluoropolymer Coating Market Share Is Expected to Grow At A CAGR Value Of Around 5.65% By 2028

01-Dec-2022 | Facts and Factors

According to Facts and Factors, the global fluoropolymer coating market size was worth around USD 300 million in 2021 and is predicted to grow to around USD 554 million by 2028 with a compound annual growth rate (CAGR) of roughly 5.65% between 2022 and 2028.

Fluoropolymer coatings are created using a blend of resins & lubricants and because they contain a high-grade dry film lubricant, they have wide applications in producing hard, smooth, and slick surfaces that have excellent chemical and corrosion resistance. Other benefits that fluoropolymer coatings provide include electrical resistance, non-wetting, abrasion resistance, galling resistance, and reduced friction.

Browse the full “Fluoropolymer Coating Market Size, Share, Growth Analysis Report By Application (Automotive, Building & Construction, Electrical, Aerospace, Food Processing, and Others), By Resin (Fluorinated Ethylene Propylene (FEP), Polytetrafluoroethylene (PTFE), Perfluoroalkoxy Alkanes (PFA), Ethylene Tetrafluoroethylene (ETFE), and Others), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028" report at https://www.fnfresearch.com/fluoropolymer-coating-market

Fluoropolymers are based on exceptionally well-performing plastics and are fluorocarbon-based. Since the main content is highly versatile, fluoropolymer coatings have extensive applications across industries as they are known to perform functions that other materials are incapable of delivering. For instance, fluoropolymers have become an essential part of the cable wiring industry, since they can withstand high heat and temperature even in corrosive environments where substitutes may fail.

The coating used using fluoropolymers makes the end-product maintenance-free even in the harshest weather in a physically challenging environment. There are different types of fluoropolymer resins like homopolymers, copolymers, and fluoroelastomers. The first kind is made of one specific polymer and fluoropolymers from this category are sold in granular forms. Copolymers are made of more than one type of specific polymer whereas elastomers exhibit the property of returning to their original form once deformed.

The global fluoropolymer coating market is projected to grow owing to the high applications of the coating material in some of the high-investment sectors like aerospace, military, automotive, or transportation. Since fluoropolymers show exceptionally high chemical and temperature resistance combined with unique electrical performance and low flammability, fluoropolymer coatings are highly preferred in the military and aerospace segment where passenger safety is of utmost importance. Using these coatings increases reliability on passenger, commercial, or military planes. The coatings are not only applied on the exterior surface but are used for wiring and cable insulation, and space apparel used by astronauts.

In the automotive industry, fluoropolymer carbon coating allows the machines to reduce friction, an essential trait of any automotive vehicle. They are applied on brake and fuel hoses, under-hood wire, and control cables. Growing population, increasing disposable income, high production rate across price groups, rising number of players, and easy financial assistance are some of the reasons that could drive the global demand for automotive vehicles.

The main challenge global market players could face is in procuring raw materials. Fuel prices have been on a constant upward trend due to various economic, political, and environmental factors, and the price of raw materials has increased drastically as well. The largest suppliers of the compound are located in the Western countries and the eastern regions may have to find alternatives or increase domestic production.

The rising acceptance of environment-friendly coatings could provide market growth opportunities whereas the presence of substitutes is expected to act as a major hindrance.

Segmental Overview

The global fluoropolymer coating market is segmented based on application, resin, and region.

Based on application, the global market segments are automotive, building & construction, electrical, aerospace, food processing, and others. In 2021, the global market witnessed the highest growth in the building and construction segment due to the benefits offered by the chemical compound owing to its properties like low polarization and high electronegativity. Growing applications in developing economies are projected to help the segment generate higher revenues. In 2021, the building & construction industry of Europe was estimated at a value of USD 2993 billion.

Based on resin, the global market segments are fluorinated ethylene propylene (FEP), fluorinated ethylene, polytetrafluoroethylene (PTFE), perfluoroalkoxy alkanes (PFA), ethylene tetrafluoroethylene (ETFE), and others. In 2021, the global market witnessed the highest revenue in the polytetrafluoroethylene (PTFE) segment due to wide applications of the compound in the manufacturing of valves, gaskets, wires, and bearings as well as to coat it on insulated transformers. PTPE is used extensively in the cookware manufacturing sector which generated around USD 24 billion in revenue in the previous year.

Regional Overview

North America is anticipated to lead the global fluoropolymer coating market since previously it has been the largest supplier of fluoropolymer products. Some of the biggest names in the industry are located in the US, for instance, the presence of 3M and DuPont has strengthened the country’s hold over the global market. DuPont was responsible for introducing the highly versatile fluoropolymer to the world and since its discovery has patented the technology used in Teflon, one of the largest revenue-generating brands in the world.

As of September 2022, DuPont has amassed more than USD 16.65 billion. 3M is a global leader in the field of consumer goods and produces more than 60,000 products under different brand names. The total sales value in 2021 for 3M stood at USD 35 billion. Since the product has a high adoption rate in the region, North America is anticipated to lead in the coming years.

Report Scope

Competitive Landscape

The report includes qualitative and quantitative research on the global fluoropolymer coating market, also detailed insights and growth strategies employed by the key players. The report furthermore delivers an in-depth analysis of the market's main competitors, as well as information on their competitiveness.

The global fluoropolymer coating market is led by players like DaeYoung C and E Co. Ltd., Akzo Nobel NV, Chem Processing Inc, Metal Coatings Corp., BASF SE, DuPont de Nemours Inc., Nippon Paint Holdings Co. Ltd., DAIKIN INDUSTRIES Ltd., Endura Coatings, and others.

Recent Developments:

• In April 2022, 3M announced the acquisition of LeanTech technology upgrading its digital solutions and inventory management for auto body shops
• In February 2022, DuPont agreed to sell the majority of its materials and mobility unit to Celanese Group

The global fluoropolymer coating market is segmented as follows:

By Application

• Automotive
• Building & Construction
• Electrical
• Aerospace
• Food Processing
• Others

By Resin

• Fluorinated Ethylene Propylene (FEP)
• Polytetrafluoroethylene (PTFE)
• Perfluoroalkoxy Alkanes (PFA)
• Ethylene Tetrafluoroethylene (ETFE)
• Others

By Region

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Nordic Countries
    • Denmark
    • Sweden
    • Norway
  • Benelux Union
    • Belgium
    • The Netherlands
    • Luxembourg
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Southeast Asia
    • Indonesia
    • Thailand
    • Malaysia
    • Singapore
    • Rest of Southeast Asia
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

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