Fluoropolymers Market is expected to attain commendable returns over the ensuing years, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2017-2026.
For the uninitiated, fluoropolymers are an organic hydrocarbon and are the most generic and important raw material used for manufacturing a large volume of polymeric end-use products like fibers, plastics, and organic chemicals. It derived from petrochemicals and comprises naphtha and ethane as its primary feedstocks.
As a raw material, fluoropolymers are used in a wide range of applications. The chemical is utilized in producing fluoropolymers dichloride, fluoropolymers oxide, vinyl acetate, ethyl benzene, and others. Growing end-uses of fluoropolymers intermediates is mainly driving the fluoropolymer market. Fluoropolymers oxide is the most significant application that finds its uses in consumer products, packaging, and light industrial applications, cites the study.
As per the report, the world's burgeoning population paired with the surge in consumer's disposable income has resulted in the growth of several commodity products like bio-based PET products, packaging, textile products, and housing inputs. The constant growth of construction industry has primarily driven the demand for polyvinyl products, which in turn has fueled the consumption of fluoropolymers dichloride. The modernized and lightweight automotive products are the driving forces behind a steady increase in consumption of polyvinyl chloride.
In terms of geographical growth, Asia Pacific is a leading regional contributor in the global fluoropolymers market, where high product demand is largely supported by rapid growth within emerging economies, particularly of the Indian Subcontinent and Southeast Asia. Meanwhile, Japan, China, Western Europe, and the US have procured the highest market share in the consumption of fluoropolymers chloride.
Consumption across various regions of the world depends upon swift developments of downstream businesses such as polyester fibers, PET, packaging, and PVC. Western Europe and Japan are projected to observe less demand for fluoropolymers in the next five years since these are mature regional markets with their production depending on less economical feedstocks, that makes it tough for them to contend in the market of worldwide fluoropolymers derivative export.
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Moreover, cost-effective feedstocks like ethane have driven the next wave of investments in nations such as the US, thereby surging fluoropolymers production. The major industry players of the fluoropolymers market can leverage technology and economical supply strategies in an effort to meet the demand for the right products at the right costs.
The fluoropolymers market is extremely competitive with a great deal of integration throughout the value chain. Some of the foremost market players active in the vertical include Dow Dupont, Saudi Basic Industries Corporation (SABIC), ExxonMobil Corporation, LyondellBasell Industries, Total S.A., Royal Dutch Shell plc, and China Petroleum & Chemical Corporation. These companies launch innovative solutions and often join forces with other market leaders to innovate new products that meet the rising end-user demands, thereby augmenting the market size.