Fluoropolymer Market Size To Reach $17.9 Billion By 2030

Fluoropolymer Market Growth & Trends

The global fluoropolymer market size is expected to reach USD 17.9 billion by 2030, registering to grow at a CAGR of 9.0% from 2024 to 2030 according to a new report by Grand View Research, Inc. High tensile strength and excellent insulation properties have driven fluoropolymer penetration in electronics, automotive and construction applications. Positive outlook on these end-use industries is expected to be one of the primary growth factors over the forecast period.

Increasing government spending on infrastructure in China, India and the Middle East is expected to drive architectural coatings demand. Fluoropolymer coatings exhibit protection against corrosion & chemicals and high temperature tolerance, which makes them useful for architectural applications. In addition, these coatings are used in automobiles for protection against scratches and abrasions. DuPont (Chemours) manufactures and markets fluoropolymer coating under the brand name, Teflon.

The industrial processing sector has accounted for the dominant market share in 2023 owing to its robust expansion. It is used in a wide range of applications including gears, sliding plates and bearings, which require low friction. Expansion of manufacturing industry in India, China, Mexico, Brazil and Russia is expected to drive demand for PTFE as an additional lubricant.

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Fluoropolymer Market Report Highlights

• Global fluoropolymer market size was valued at USD 9.8 billion in 2023 and is expected to reach 17.9 billion by 2030, growing at a CAGR of 9.0% from 2024 to 2030.

• Polyvinylidene fluoride (PVDF) is expected to grow substantially during the forecast period. The market was propelled due to the increasing demand for architectural coatings, photovoltaic modules, lithium-ion batteries, and special films, used in architectural and automotive glazing.

• The industrial processing sector has accounted for the dominant market share in 2023 owing to its robust expansion. Fluoropolymers are applied in heavy physical and mechanical components owing to their chemical inertness, high-temperature stability, and low friction properties.

• The fluoropolymers market in Asia Pacific region secured the dominant market share with 42.8% in 2023. Technological advancement in the field of electronics, particularly in China, Taiwan and South Korea, has led to an increasing utilization of these materials in providing high thermal stability and superior tensile strength.

Fluoropolymer Market Segmentation

Grand View Research has segmented the global fluoropolymer market based on product, application, and region:

Fluoropolymer Product Outlook (Revenue, USD Million, 2018 - 2030) (Volume in Kilotons)

• PTFE

• PVDF

• FEP

• Fluoroelastomers

• Others

Fluoropolymer Application Outlook (Revenue, USD Million, 2018 - 2030) (Volume in Kilotons)

• Automotive

• Electric & Electronics

• Construction

• Industrial Processing

• Others

Fluoropolymer Regional Outlook (Revenue, USD Million, 2018 - 2030) (Volume in Kilotons)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

  • Russia

  • Sweden

  • Norway

  • Denmark

• Asia Pacific

  • China

  • Japan

  • India

  • Australia

  • South Korea

  • Indonesia

  • Vietnam

• Latin America

  • Brazil

  • Argentina

• Middle East and Africa (MEA)

  • UAE

  • Saudi Arabia

  • South Africa

  • Kuwait

List of Key Players in the Fluoropolymer Market

• Chemours

• Daikin Industries

• 3M

• Solvay

• Arkema

• AGC Chemicals

• Dongyue Group

• Gujarat Fluorochemicals

• Halopolymer

• Kureha Corporation