FLUOROPOLYMERS FILMS MARKET ANALYSIS

Fluoropolymers Films MarketSize and Trends

Global Fluoropolymers Films market was valued at US$ 1.9 Bn in 2022, exhibiting a CAGR of 6.31 % in terms of revenue, over the forecast period (2023 to 2030) to reach US$ 3.1 Bn by 2030. Fluoropolymer films consist of fluorine and carbon molecules and are high-performance polymer films. These films are widely used across high-temperature applications and extremely harsh chemical conditions. They are highly resistant to chemicals, and moisture, offer non-stick performance, and have optical transparency. These films are used for cable insulation, composite mold release, roll covers, pharmaceutical liners, anti-corrosive linings, adhesives, photovoltaic cells, microphone membranes, surface coverings, airbags, anti-graffiti coverings, and fuel hoses. Moreover, they are also used across the pharmaceutical industry as blister packaging materials.

Global Fluoropolymers Films Market- Impact of Coronavirus (Covid-19) Pandemic

The COVID-19 outbreak has majorly impacted the Global Fluoropolymers Films market, owing to the strict lockdown and stringent regulations, followed by the government. The global fluoropolymer films industry is anticipated to slow down during the next few years as a result of the COVID-19 epidemic. Lockdowns conducted by governments have caused factory closures in many towns and provinces around the world, raising concerns about a sudden decline in output in industries ranging from packaging to construction. Also, one of the major factors that is anticipated to have a negative impact on the expansion of the market for fluoropolymer films is the recent reduction in construction activity. Moreover, once production activities are suspended, businesses must deal with lost revenues and damaged supply chains.

Market Trends

• Increasing penetration of smartphones, tablets, and watches is expected to accelerate the market growth of fluoropolymer films. The Polytetrafluoroethylene and polyvinylidene fluoride films are used in the production of smart devices such as phones, wearable devices, tablets, and other smart devices. Therefore, the growth of the market can also be attributed to the booming electrical &electronic industry around the globe.
• Several producers are concentrating on raising fluoropolymer film manufacturing capacity to match the increased demand, which is anticipated to fuel market expansion. For instance, in April 2018, Arkema starts new fluoropolymer production capacities in the U.S. This new capacity will enable the Group to support its customer’s growth in America, especially in emerging applications such as water filtration and in traditional markets such as the chemical process industry and high-performance cables across automobile, fiber optics, and the oil industry.

On the basis of end use, in 2022, packaging accounted for the largest market share of 29% in terms of revenue, followed by industrial & equipment and automotive & aerospace, building & construction, and electrical & electronics respectively. The packaging segment held the largest market share in 2022 and is further projected to grow at the highest CAGR during the forecast period owing to rising the need for packaging in various applications such as food, pharmaceuticals, and industrial packaging. In addition, they are appropriate for a variety of packaging applications due to their superior barrier, chemical resistance, and non-stick qualities.

In addition, the industrial & equipment segment holds the second largest share after the packaging segment in 2022. Fluoropolymer films are utilized in a variety of industrial applications, including gasket materials, wire and cable insulation, and electrical insulation. They provide superior chemical and electrical resistance, reduced friction, and tolerance to high temperatures.