Fluoropolymer Coating by Market Research Future (MRFR) declares that the market can surpass a predicted worth of USD 2,139.7 million by 2027. In the forecast period including 2019 to 2027 time frame, the market could achieve a CAGR of 6.1%. A fluoropolymer coating is known for its ability to provide better product durability and increase life span. In insulating wires to prevent them from catching fire, this type of coating is getting momentum. Especially, this is true for the aerospace industry. Among its other usage, fluoropolymer coating finds significant usage in the food processing industry where it is applied on the mold or baking tray to prevent food items from sticking. Its application in the setup for crude oil production is also quite substantial. In the automobile sector, the fluoropolymer coating finds significant traction.
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The global report on the market for the fluoropolymer coating has segments like resin and end-use industry. This segmentation reveals several inputs regarding the market and helps in the understanding of insights as to the premise of future strategies.
By resin, the report on the global market for fluoropolymer coating can be segmented into polytetrafluoroethylene (PTFE), polyvinyl fluoride (PVF), perfluoroalkoxy alkanes (PFA), ethylene tetrafluoroethylene (ETFE), fluorinated ethylene propylene (FEP), and others. The polyvinyl fluoride segment has the upper hand as its intake in various end-use industries is growing.
By end-use industry, the global report on the fluoropolymer coating market comprises building & construction, aerospace, automotive, food processing, electrical, and others. The building and construction segment had the maximum market share of 20.1% as per the last analytical report.
MRFR’s analysis on the market for fluoropolymer coating reveals that a lot of companies have changed several things in the past few years as a part of their strategic policies. This provides a better picture of the global market and helps in ensuring a proper assessment of trends. Participating companies are Walter Wurdack Inc. (US), PPG Industries Inc. (US), Daikin Industries Ltd (Japan), KCC Corporation (South Korea), The Chemours Company (US), The Sherwin-Williams Company (US), Kansai Paints Co. Ltd (Japan), and Axalta Coating Systems Ltd (US).
In December 2019, PPG announced that they have coated the Beijing Daxing International Airport terminal building with fluorocarbon coating to protect it from fire and increase its sustainability.
The North America Fluoropolymer Coating Market is showing the possibility of reaching a CAGR of 5.0% during the forecast period. It is expected to retain its dominance as the use of fluorocarbon coating is getting recognized in several quarters like aircraft, electronics products, and automotive. Revamping the automotive sector, increasing expenditure for the aviation sector, and others can make sure that the regional market scores big. It would rely a lot on the performance of the US market. Canada would be another country to contribute to the growth of the market.
The construction sector of the Asia Pacific region is all set to create huge demand for the regional market. This would be influenced more by the fluoropolymer coatings in metals used in roofs as it is known for its ability to prevent buildings from weather, increase durability, and improve UV-resistance. The price of the maintenance of these buildings is low, which makes the end product more attractive to consumers. Producers of the fluoropolymer coating are taking this up as an opportunity to benefit more from the rising number of commercial and residential projects.
Europe’s market would gain much from the growing investment of the substance in the food processing industry. In addition, the electronic appliances segment is also making a significant profit for the regional market. In the Middle East & Africa, the market may find substantial growth with the changing scenarios in the construction sector.
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