APAC to drive fluoropolymers market, expected to grow at a CAGR of 5.2% till 2019

The fluoropolymers market is expected to grow at a CAGR of 5.2%, in terms of volume, over the next five years to reach 380.2 KT by 2019. Asia-Pacific, with its thriving economies and rapidly expanding population, is expected to experience the fastest growth rate between 2014 and 2019, as per MarketsandMarkets. The application of fluoropolymers is increasingly becoming popular due to the performance advantage these materials offer. These possess an excellent combination of physical and chemical properties, comprising excellent chemical resistance, high temperature stability, and good dielectric properties. These polymers are widely used in many industrial fields under severe conditions. The non-stick properties resulting from their low surface energies are well-known and used in numerous applications. Owing to their special properties and relatively low production volume when compared with engineering resins, their prices are relatively high. The major opportunities in the fluoropolymers market lies in its increasing demand in industrial maintenance sector particularly due to their chemical and oil resistance property. With the increasing need for protection from UV exposure, use of fluoropolymers in additives is being practiced increasingly. In this case, the major driving force for fluoropolymers is the realization that these products can increase the life cycle of exterior coatings and subsequently increase the time between recoats. This complements the products and also reduces the costs of infrastructure management by eliminating the number of recoats Fluoropolymers are polymeric resins in which some or all of the hydrogen atoms in the polymer chain have been replaced by fluorine. They offer a combination of good chemical resistance, excellent electrical insulation properties, and favorable mechanical properties. These are highly weather resistant and can function in extreme temperatures. Fluoropolymers are olefinic polymers and comprise partially or fully fluorinated olefinic monomers, such as vinylidene fluoride and tetrafluoroethylene (TFE). There are also some specialty fluorinated polymers, such as perfluoroethers, fluoroacrylates, and fluorosilicones, which are used in very minute quantities when compared to olefinic fluoropolymers. These fluorinated polymers can be manufactured using various raw materials and different manufacturing processes. The value chain ranges from basic fluorochemicals and mineral products all the way to end-users such as aerospace companies, industrial manufacturers, or consumers. The key feedstock used in the manufacturing of fluoropolymers is fluorspar, hydrogen fluoride, hydrogen sulfide, ethylene, and fluorocarbons. The supply of these key raw materials has been affected by both supply constraints and manufacturing cost. For instance, fluorspar is a naturally occurring mineral, used in a multitude of industries ranging from metallurgy, ceramics, glass, aluminum, and fluoropolymers. So, its manufacturers have to compete with other industries to ensure smooth supply of fluorspar. Fluoropolymers exist in many forms and based on their formulation and function, these can be segmented into PTFE, PVDF, FEP, and others.