Asia-pacific Fluoropolymer Market Size
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Study Period | 2017 - 2029 |
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Market Size (2024) | USD 2.03 Billion |
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Market Size (2029) | USD 3.06 Billion |
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Largest Share by End User Industry | Industrial and Machinery |
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CAGR (2024 - 2029) | 8.56 % |
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Largest Share by Country | China |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Asia-pacific Fluoropolymer Market Analysis
The Asia-pacific Fluoropolymer Market size is estimated at 2.03 billion USD in 2024, and is expected to reach 3.06 billion USD by 2029, growing at a CAGR of 8.56% during the forecast period (2024-2029).
2.03 Billion
Market Size in 2024 (USD)
3.06 Billion
Market Size in 2029 (USD)
5.66 %
CAGR (2017-2023)
8.56 %
CAGR (2024-2029)
Largest Market by End-user Industry
43.81 %
value share, Industrial and Machinery, 2023
Due to the high demand for fluoropolymers in coating and lining applications, the industrial and machinery segment has dominated the market.
Fastest Growing Market by End-user Industry
13.43 %
Projected CAGR, Automotive, 2024-2029
Fluoropolymer coatings and components such as fuel tubes and hoses help improve engine efficiency and battery functions in automobiles. Hence, the segment is projected to witness the fastest growth.
Largest Market by Sub Resin Type
36.76 %
value share, Polytetrafluoroethylene (PTFE), 2023
Due to the high demand from the food and beverage, construction, and chemical processing and manufacturing industries, PTFE held the largest share of the market.
Largest Market by Country
58.59 %
value share, China, 2023
China dominated the market due to the high demand for fluoropolymer resins from major sectors, including industrial and machinery, electrical and electronics, and automotive, along with strong economic growth in recent years.
Leading Market Player
17.05 %
market share, Dongyue Group, 2022
Dongyue Group is the largest fluoropolymer resin producer in Asia-Pacific, with a production capacity of 75 kilotons, of which PTFE resin accounts for 55 kilotons.
Industrial machinery may lose its share to the electrical and electronics industry
- Fluoropolymers have applications ranging from oil and gas, semiconductor and electronic, chemical processing, automotive, wire and cable, building, aerospace, and pharmaceutical applications. The Asia-Pacific fluoropolymer market is led by industrial machinery, electrical and electronics, and automotive industries. Electrical and electronics accounted for around 27.28% of the revenue of the overall fluoropolymer market in 2022.
- Electrical and electronics is one of the largest industries in the region, especially in China. In China, the industry accounted for 39% of the GDP in 2021. The increasing demand for electrical and electronics empowered the onset of electric vehicles, autonomous robots, and top-secret defense technologies, which, in turn, has been boosting the demand for fluoropolymers in the region.
- Industrial machinery is the largest end-user industry in the region. In China, the industry is the largest consumer of fluoropolymers, with a share of 44.4%, owing to the increasing demand for chemical processing equipment, pumps, and engines. The abovementioned factors are expected to increase the demand for fluoropolymers in the region during the forecast period.
- Automotive is the fastest-growing industry in the region by revenue, with a CAGR of 14.16%. The application of fluoropolymers for plastic composites and lithium-ion batteries used in electric automobiles has increased. This, coupled with the growing electric vehicle production and demand in the region, is expected to drive the demand during the forecast period.
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China and India to lead the booming Asia-Pacific fluoropolymer market
- Fluoropolymer is an important polymer in Asia-Pacific for various industries, including automotive, aerospace, and industrial and machinery. Asia-Pacific accounted for 53.64% of the global consumption of fluoropolymer resins in 2022.
- China is the largest consumer of fluoropolymers in the region owing to its rising aerospace, automotive, industrial, and machinery segments. Electrical and electronics and industrial and machinery held shares of 35.66% and 39.29%, respectively, in 2021 and are driving the increasing demand for fluoropolymer resins in the country. The rising automotive, industrial, and machinery production is expected to drive the demand for fluoropolymer resins in the country during the forecast period.
- Japan's demand for fluoropolymer resins is increasing significantly due to rising vehicle production, industrial and machinery, and others. Japan is Asia-Pacific's fourth-largest vehicle producer. In 2022, the country produced 9.4 million units, which is 3.4% more than in 2021. The country's industrial machinery segment is also expanding. In 2021, the order value for metal cutting machines (milling machines, etc.) at manufacturers in Japan amounted to approximately JPY 1.16 trillion, increasing from around JPY 697.39 billion in the previous year. These factors are expected to drive the demand for fluoropolymer resins in the country.
- India is expected to be the fastest-growing consumer of fluoropolymer resins, registering a CAGR of 10.13% by revenue during the forecast period 2023-2029. Vehicle production in the country is expected to reach 33 million units in 2029 from 27.4 million units in 2022.
Asia-pacific Fluoropolymer Market Trends
Rapid growth in ASEAN countries to foster electronics production
- The Asia-Pacific region saw an increase in electrical and electronics production revenue by 13.9% from 2020 to 2021. The electronics sector accounts for 20-50% of the total value of most Asian countries' exports. Consumer electronics such as televisions, radios, computers, and cellular phones are largely manufactured in the ASEAN region.
- ASEAN leads the production of hard drives, with over 80% of hard drives being manufactured in the region. Overall, the electrical and electronics (E&E) industry in ASEAN relies more on foreign inputs and technology than other industries, with 53% of E&E exports arising from foreign value added (FVA) or foreign inputs integrated into ASEAN’s E&E exports.
- Countries like Thailand and Malaysia lead in the production of electronics in the region. Thailand, home to one of the largest electronics assembly bases in Southeast Asia, leads in the production of hard drives, integrated circuits, and semiconductors. It ranks second in manufacturing air conditioning units and fourth in the global refrigerators market.
- The electronics industry has greatly benefitted from ASEAN's integrated production networks, which foster improved trade with larger Asian economies like China and Japan.
- China held an 11.2% share of global exports in electrical products and registered a growth of 5.8% in the export of digital products from 2019 to 2020. According to the Asian Development Bank, China provides a large market for electronics in the region. Countries such as Thailand, Japan, China, Malaysia, India, and the Philippines continue to lead the region in the production of electronics.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Rapid growth of civil aviation to drive the aerospace component production
- Growing FDI, coupled with supportive government initiatives, to drive the construction industry
- China to remain as the largest importer and exporter of fluoropolymers
- Electric vehicles to boost the automobile market in the coming years
- Evolving consumer trends and growing e-commerce sector to amplify plastic packaging industry
Asia-pacific Fluoropolymer Industry Overview
The Asia-pacific Fluoropolymer Market is moderately consolidated, with the top five companies occupying 42.98%. The major players in this market are Daikin Industries, Ltd., Dongyue Group, Gujarat Fluorochemicals Limited (GFL), Kureha Corporation and Zhejiang Juhua Co., Ltd. (sorted alphabetically).
Asia-pacific Fluoropolymer Market Leaders
Daikin Industries, Ltd.
Dongyue Group
Gujarat Fluorochemicals Limited (GFL)
Kureha Corporation
Zhejiang Juhua Co., Ltd.
Other important companies include Arkema, Hubei Everflon Polymer Co., Ltd., Shanghai Huayi 3F New Materials Co., Ltd., Sinochem, Solvay.
*Disclaimer: Major Players sorted in alphabetical order.
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Asia-pacific Fluoropolymer Market News
- October 2022: Dongyue Group completed the construction of its PVDF project with a capacity of around 10,000 tons per year in China. Upon completion of this project, the company's total PVDF production capacity reached 25,000 tons/year.
- February 2022: Gujarat Fluorochemicals Limited invested in the expansion of its PTFE capacity in its integrated manufacturing facility at Dahej in India. The PTFE capacity is expected to be operational in 2023.
- January 2022: Arkema announced that 35% of Kynar's fluoropolymer capacity at its Changshu site in China would be increased by 50% to meet the demand from its partners in the Lithium-ion Battery business and support its growth in the water filtration, specialty coatings, and semiconductor industries.
Free with this Report
We provide a complimentary and exhaustive set of data points on global and regional metrics that present the fundamental structure of the industry. Presented in the form of 15+ free charts, the section covers rare data on various end-user production trends including passenger vehicle production, commercial vehicle production, motorcycle production, aerospace components production, electrical and electronics production, and regional data for engineering plastics demand etc.
Asia-pacific Fluoropolymer Market Report - Table of Contents
1. EXECUTIVE SUMMARY & KEY FINDINGS
2. REPORT OFFERS
3. INTRODUCTION
- 3.1 Study Assumptions & Market Definition
- 3.2 Scope of the Study
- 3.3 Research Methodology
4. KEY INDUSTRY TRENDS
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4.1 End User Trends
- 4.1.1 Aerospace
- 4.1.2 Automotive
- 4.1.3 Building and Construction
- 4.1.4 Electrical and Electronics
- 4.1.5 Packaging
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4.2 Import And Export Trends
- 4.2.1 Fluoropolymer Trade
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4.3 Regulatory Framework
- 4.3.1 Australia
- 4.3.2 China
- 4.3.3 India
- 4.3.4 Japan
- 4.3.5 Malaysia
- 4.3.6 South Korea
- 4.4 Value Chain & Distribution Channel Analysis
5. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2029 and analysis of growth prospects)
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5.1 End User Industry
- 5.1.1 Aerospace
- 5.1.2 Automotive
- 5.1.3 Building and Construction
- 5.1.4 Electrical and Electronics
- 5.1.5 Industrial and Machinery
- 5.1.6 Packaging
- 5.1.7 Other End-user Industries
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5.2 Sub Resin Type
- 5.2.1 Ethylenetetrafluoroethylene (ETFE)
- 5.2.2 Fluorinated Ethylene-propylene (FEP)
- 5.2.3 Polytetrafluoroethylene (PTFE)
- 5.2.4 Polyvinylfluoride (PVF)
- 5.2.5 Polyvinylidene Fluoride (PVDF)
- 5.2.6 Other Sub Resin Types
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5.3 Country
- 5.3.1 Australia
- 5.3.2 China
- 5.3.3 India
- 5.3.4 Japan
- 5.3.5 Malaysia
- 5.3.6 South Korea
- 5.3.7 Rest of Asia-Pacific
6. COMPETITIVE LANDSCAPE
- 6.1 Key Strategic Moves
- 6.2 Market Share Analysis
- 6.3 Company Landscape
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6.4 Company Profiles (includes Global Level Overview, Market Level Overview, Core Business Segments, Financials, Headcount, Key Information, Market Rank, Market Share, Products and Services, and Analysis of Recent Developments).
- 6.4.1 Arkema
- 6.4.2 Daikin Industries, Ltd.
- 6.4.3 Dongyue Group
- 6.4.4 Gujarat Fluorochemicals Limited (GFL)
- 6.4.5 Hubei Everflon Polymer Co., Ltd.
- 6.4.6 Kureha Corporation
- 6.4.7 Shanghai Huayi 3F New Materials Co., Ltd.
- 6.4.8 Sinochem
- 6.4.9 Solvay
- 6.4.10 Zhejiang Juhua Co., Ltd.
7. KEY STRATEGIC QUESTIONS FOR ENGINEERING PLASTICS CEOS
8. APPENDIX
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8.1 Global Overview
- 8.1.1 Overview
- 8.1.2 Porter’s Five Forces Framework (Industry Attractiveness Analysis)
- 8.1.3 Global Value Chain Analysis
- 8.1.4 Market Dynamics (DROs)
- 8.2 Sources & References
- 8.3 List of Tables & Figures
- 8.4 Primary Insights
- 8.5 Data Pack
- 8.6 Glossary of Terms
List of Tables & Figures
- Figure 1:
- PRODUCTION REVENUE OF AEROSPACE COMPONENTS, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 2:
- PRODUCTION VOLUME OF AUTOMOBILES, UNITS, ASIA-PACIFIC, 2017 - 2029
- Figure 3:
- FLOOR AREA OF NEW CONSTRUCTION, SQUARE FEET, ASIA-PACIFIC, 2017 - 2029
- Figure 4:
- PRODUCTION REVENUE OF ELECTRICAL AND ELECTRONICS, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 5:
- PRODUCTION VOLUME OF PLASTIC PACKAGING, TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 6:
- IMPORT REVENUE OF FLUOROPOLYMER TRADE BY TOP COUNTRIES, USD, ASIA-PACIFIC, 2017 - 2021
- Figure 7:
- EXPORT REVENUE OF FLUOROPOLYMER TRADE BY TOP COUNTRIES, USD, ASIA-PACIFIC, 2017 - 2021
- Figure 8:
- VOLUME OF FLUOROPOLYMER CONSUMED, TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 9:
- VALUE OF FLUOROPOLYMER CONSUMED, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 10:
- VOLUME OF FLUOROPOLYMER CONSUMED BY END USER INDUSTRY, TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 11:
- VALUE OF FLUOROPOLYMER CONSUMED BY END USER INDUSTRY, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 12:
- VOLUME SHARE OF FLUOROPOLYMER CONSUMED BY END USER INDUSTRY, %, ASIA-PACIFIC, 2017, 2023, AND 2029
- Figure 13:
- VALUE SHARE OF FLUOROPOLYMER CONSUMED BY END USER INDUSTRY, %, ASIA-PACIFIC, 2017, 2023, AND 2029
- Figure 14:
- VOLUME OF FLUOROPOLYMER CONSUMED IN AEROSPACE INDUSTRY, TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 15:
- VALUE OF FLUOROPOLYMER CONSUMED IN AEROSPACE INDUSTRY, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 16:
- VALUE SHARE OF FLUOROPOLYMER CONSUMED IN AEROSPACE INDUSTRY BY SUB RESIN TYPE, %, ASIA-PACIFIC, 2022 VS 2029
- Figure 17:
- VOLUME OF FLUOROPOLYMER CONSUMED IN AUTOMOTIVE INDUSTRY, TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 18:
- VALUE OF FLUOROPOLYMER CONSUMED IN AUTOMOTIVE INDUSTRY, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 19:
- VALUE SHARE OF FLUOROPOLYMER CONSUMED IN AUTOMOTIVE INDUSTRY BY SUB RESIN TYPE, %, ASIA-PACIFIC, 2022 VS 2029
- Figure 20:
- VOLUME OF FLUOROPOLYMER CONSUMED IN BUILDING AND CONSTRUCTION INDUSTRY, TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 21:
- VALUE OF FLUOROPOLYMER CONSUMED IN BUILDING AND CONSTRUCTION INDUSTRY, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 22:
- VALUE SHARE OF FLUOROPOLYMER CONSUMED IN BUILDING AND CONSTRUCTION INDUSTRY BY SUB RESIN TYPE, %, ASIA-PACIFIC, 2022 VS 2029
- Figure 23:
- VOLUME OF FLUOROPOLYMER CONSUMED IN ELECTRICAL AND ELECTRONICS INDUSTRY, TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 24:
- VALUE OF FLUOROPOLYMER CONSUMED IN ELECTRICAL AND ELECTRONICS INDUSTRY, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 25:
- VALUE SHARE OF FLUOROPOLYMER CONSUMED IN ELECTRICAL AND ELECTRONICS INDUSTRY BY SUB RESIN TYPE, %, ASIA-PACIFIC, 2022 VS 2029
- Figure 26:
- VOLUME OF FLUOROPOLYMER CONSUMED IN INDUSTRIAL AND MACHINERY INDUSTRY, TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 27:
- VALUE OF FLUOROPOLYMER CONSUMED IN INDUSTRIAL AND MACHINERY INDUSTRY, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 28:
- VALUE SHARE OF FLUOROPOLYMER CONSUMED IN INDUSTRIAL AND MACHINERY INDUSTRY BY SUB RESIN TYPE, %, ASIA-PACIFIC, 2022 VS 2029
- Figure 29:
- VOLUME OF FLUOROPOLYMER CONSUMED IN PACKAGING INDUSTRY, TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 30:
- VALUE OF FLUOROPOLYMER CONSUMED IN PACKAGING INDUSTRY, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 31:
- VALUE SHARE OF FLUOROPOLYMER CONSUMED IN PACKAGING INDUSTRY BY SUB RESIN TYPE, %, ASIA-PACIFIC, 2022 VS 2029
- Figure 32:
- VOLUME OF FLUOROPOLYMER CONSUMED IN OTHER END-USER INDUSTRIES INDUSTRY, TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 33:
- VALUE OF FLUOROPOLYMER CONSUMED IN OTHER END-USER INDUSTRIES INDUSTRY, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 34:
- VALUE SHARE OF FLUOROPOLYMER CONSUMED IN OTHER END-USER INDUSTRIES INDUSTRY BY SUB RESIN TYPE, %, ASIA-PACIFIC, 2022 VS 2029
- Figure 35:
- VOLUME OF FLUOROPOLYMER CONSUMED BY SUB RESIN TYPE, TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 36:
- VALUE OF FLUOROPOLYMER CONSUMED BY SUB RESIN TYPE, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 37:
- VOLUME SHARE OF FLUOROPOLYMER CONSUMED BY SUB RESIN TYPE, %, ASIA-PACIFIC, 2017, 2023, AND 2029
- Figure 38:
- VALUE SHARE OF FLUOROPOLYMER CONSUMED BY SUB RESIN TYPE, %, ASIA-PACIFIC, 2017, 2023, AND 2029
- Figure 39:
- VOLUME OF ETHYLENETETRAFLUOROETHYLENE (ETFE) CONSUMED, TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 40:
- VALUE OF ETHYLENETETRAFLUOROETHYLENE (ETFE) CONSUMED, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 41:
- VALUE SHARE OF ETHYLENETETRAFLUOROETHYLENE (ETFE) CONSUMED BY END USER INDUSTRY, %, ASIA-PACIFIC, 2022 VS 2029
- Figure 42:
- VOLUME OF FLUORINATED ETHYLENE-PROPYLENE (FEP) CONSUMED, TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 43:
- VALUE OF FLUORINATED ETHYLENE-PROPYLENE (FEP) CONSUMED, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 44:
- VALUE SHARE OF FLUORINATED ETHYLENE-PROPYLENE (FEP) CONSUMED BY END USER INDUSTRY, %, ASIA-PACIFIC, 2022 VS 2029
- Figure 45:
- VOLUME OF POLYTETRAFLUOROETHYLENE (PTFE) CONSUMED, TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 46:
- VALUE OF POLYTETRAFLUOROETHYLENE (PTFE) CONSUMED, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 47:
- VALUE SHARE OF POLYTETRAFLUOROETHYLENE (PTFE) CONSUMED BY END USER INDUSTRY, %, ASIA-PACIFIC, 2022 VS 2029
- Figure 48:
- VOLUME OF POLYVINYLFLUORIDE (PVF) CONSUMED, TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 49:
- VALUE OF POLYVINYLFLUORIDE (PVF) CONSUMED, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 50:
- VALUE SHARE OF POLYVINYLFLUORIDE (PVF) CONSUMED BY END USER INDUSTRY, %, ASIA-PACIFIC, 2022 VS 2029
- Figure 51:
- VOLUME OF POLYVINYLIDENE FLUORIDE (PVDF) CONSUMED, TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 52:
- VALUE OF POLYVINYLIDENE FLUORIDE (PVDF) CONSUMED, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 53:
- VALUE SHARE OF POLYVINYLIDENE FLUORIDE (PVDF) CONSUMED BY END USER INDUSTRY, %, ASIA-PACIFIC, 2022 VS 2029
- Figure 54:
- VOLUME OF OTHER SUB RESIN TYPES CONSUMED, TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 55:
- VALUE OF OTHER SUB RESIN TYPES CONSUMED, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 56:
- VALUE SHARE OF OTHER SUB RESIN TYPES CONSUMED BY END USER INDUSTRY, %, ASIA-PACIFIC, 2022 VS 2029
- Figure 57:
- VOLUME OF FLUOROPOLYMER CONSUMED BY COUNTRY, TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 58:
- VALUE OF FLUOROPOLYMER CONSUMED BY COUNTRY, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 59:
- VOLUME SHARE OF FLUOROPOLYMER CONSUMED BY COUNTRY, %, ASIA-PACIFIC, 2017, 2023, AND 2029
- Figure 60:
- VALUE SHARE OF FLUOROPOLYMER CONSUMED BY COUNTRY, %, ASIA-PACIFIC, 2017, 2023, AND 2029
- Figure 61:
- VOLUME OF FLUOROPOLYMER CONSUMED, TONS, AUSTRALIA, 2017 - 2029
- Figure 62:
- VALUE OF FLUOROPOLYMER CONSUMED, USD, AUSTRALIA, 2017 - 2029
- Figure 63:
- VALUE SHARE OF FLUOROPOLYMER CONSUMED BY END USER INDUSTRY, %, AUSTRALIA, 2022 VS 2029
- Figure 64:
- VOLUME OF FLUOROPOLYMER CONSUMED, TONS, CHINA, 2017 - 2029
- Figure 65:
- VALUE OF FLUOROPOLYMER CONSUMED, USD, CHINA, 2017 - 2029
- Figure 66:
- VALUE SHARE OF FLUOROPOLYMER CONSUMED BY END USER INDUSTRY, %, CHINA, 2022 VS 2029
- Figure 67:
- VOLUME OF FLUOROPOLYMER CONSUMED, TONS, INDIA, 2017 - 2029
- Figure 68:
- VALUE OF FLUOROPOLYMER CONSUMED, USD, INDIA, 2017 - 2029
- Figure 69:
- VALUE SHARE OF FLUOROPOLYMER CONSUMED BY END USER INDUSTRY, %, INDIA, 2022 VS 2029
- Figure 70:
- VOLUME OF FLUOROPOLYMER CONSUMED, TONS, JAPAN, 2017 - 2029
- Figure 71:
- VALUE OF FLUOROPOLYMER CONSUMED, USD, JAPAN, 2017 - 2029
- Figure 72:
- VALUE SHARE OF FLUOROPOLYMER CONSUMED BY END USER INDUSTRY, %, JAPAN, 2022 VS 2029
- Figure 73:
- VOLUME OF FLUOROPOLYMER CONSUMED, TONS, MALAYSIA, 2017 - 2029
- Figure 74:
- VALUE OF FLUOROPOLYMER CONSUMED, USD, MALAYSIA, 2017 - 2029
- Figure 75:
- VALUE SHARE OF FLUOROPOLYMER CONSUMED BY END USER INDUSTRY, %, MALAYSIA, 2022 VS 2029
- Figure 76:
- VOLUME OF FLUOROPOLYMER CONSUMED, TONS, SOUTH KOREA, 2017 - 2029
- Figure 77:
- VALUE OF FLUOROPOLYMER CONSUMED, USD, SOUTH KOREA, 2017 - 2029
- Figure 78:
- VALUE SHARE OF FLUOROPOLYMER CONSUMED BY END USER INDUSTRY, %, SOUTH KOREA, 2022 VS 2029
- Figure 79:
- VOLUME OF FLUOROPOLYMER CONSUMED, TONS, REST OF ASIA-PACIFIC, 2017 - 2029
- Figure 80:
- VALUE OF FLUOROPOLYMER CONSUMED, USD, REST OF ASIA-PACIFIC, 2017 - 2029
- Figure 81:
- VALUE SHARE OF FLUOROPOLYMER CONSUMED BY END USER INDUSTRY, %, REST OF ASIA-PACIFIC, 2022 VS 2029
- Figure 82:
- MOST ACTIVE COMPANIES BY NUMBER OF STRATEGIC MOVES, ASIA-PACIFIC, 2019 - 2021
- Figure 83:
- MOST ADOPTED STRATEGIES, COUNT, ASIA-PACIFIC, 2019 - 2021
- Figure 84:
- PRODUCTION CAPACITY SHARE OF FLUOROPOLYMER BY MAJOR PLAYERS, %, ASIA-PACIFIC, 2022
Asia-pacific Fluoropolymer Industry Segmentation
Aerospace, Automotive, Building and Construction, Electrical and Electronics, Industrial and Machinery, Packaging are covered as segments by End User Industry. Ethylenetetrafluoroethylene (ETFE), Fluorinated Ethylene-propylene (FEP), Polytetrafluoroethylene (PTFE), Polyvinylfluoride (PVF), Polyvinylidene Fluoride (PVDF) are covered as segments by Sub Resin Type. Australia, China, India, Japan, Malaysia, South Korea are covered as segments by Country.
- Fluoropolymers have applications ranging from oil and gas, semiconductor and electronic, chemical processing, automotive, wire and cable, building, aerospace, and pharmaceutical applications. The Asia-Pacific fluoropolymer market is led by industrial machinery, electrical and electronics, and automotive industries. Electrical and electronics accounted for around 27.28% of the revenue of the overall fluoropolymer market in 2022.
- Electrical and electronics is one of the largest industries in the region, especially in China. In China, the industry accounted for 39% of the GDP in 2021. The increasing demand for electrical and electronics empowered the onset of electric vehicles, autonomous robots, and top-secret defense technologies, which, in turn, has been boosting the demand for fluoropolymers in the region.
- Industrial machinery is the largest end-user industry in the region. In China, the industry is the largest consumer of fluoropolymers, with a share of 44.4%, owing to the increasing demand for chemical processing equipment, pumps, and engines. The abovementioned factors are expected to increase the demand for fluoropolymers in the region during the forecast period.
- Automotive is the fastest-growing industry in the region by revenue, with a CAGR of 14.16%. The application of fluoropolymers for plastic composites and lithium-ion batteries used in electric automobiles has increased. This, coupled with the growing electric vehicle production and demand in the region, is expected to drive the demand during the forecast period.
| End User Industry | Aerospace |
| Automotive | |
| Building and Construction | |
| Electrical and Electronics | |
| Industrial and Machinery | |
| Packaging | |
| Other End-user Industries | |
| Sub Resin Type | Ethylenetetrafluoroethylene (ETFE) |
| Fluorinated Ethylene-propylene (FEP) | |
| Polytetrafluoroethylene (PTFE) | |
| Polyvinylfluoride (PVF) | |
| Polyvinylidene Fluoride (PVDF) | |
| Other Sub Resin Types | |
| Country | Australia |
| China | |
| India | |
| Japan | |
| Malaysia | |
| South Korea | |
| Rest of Asia-Pacific |
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Market Definition
- End-user Industry - Building & Construction, Packaging, Automotive, Aerospace, Industrial Machinery, Electrical & Electronics, and Others are the end-user industries considered under the fluoropolymers market.
- Resin - Under the scope of the study, virgin fluoropolymer resins like Polytetrafluoroethylene, Polyvinylidene Fluoride, Polyvinylfluoride, Fluorinated Ethylene-propylene, Ethylenetetrafluoroethylene, etc. in the primary forms are considered.
| Keyword | Definition |
|---|---|
| Acetal | This is a rigid material that has a slippery surface. It can easily withstand wear and tear in abusive work environments. This polymer is used for building applications such as gears, bearings, valve components, etc. |
| Acrylic | This synthetic resin is a derivative of acrylic acid. It forms a smooth surface and is mainly used for various indoor applications. The material can also be used for outdoor applications with a special formulation. |
| Cast film | A cast film is made by depositing a layer of plastic onto a surface then solidifying and removing the film from that surface. The plastic layer can be in molten form, in a solution, or in dispersion. |
| Colorants & Pigments | Colorants & Pigments are additives used to change the color of the plastic. They can be a powder or a resin/color premix. |
| Composite material | A composite material is a material that is produced from two or more constituent materials. These constituent materials have dissimilar chemical or physical properties and are merged to create a material with properties unlike the individual elements. |
| Degree of Polymerization (DP) | The number of monomeric units in a macromolecule, polymer, or oligomer molecule is referred to as the degree of polymerization or DP. Plastics with useful physical properties often have DPs in the thousands. |
| Dispersion | To create a suspension or solution of material in another substance, fine, agglomerated solid particles of one substance are dispersed in a liquid or another substance to form a dispersion. |
| Fiberglass | Fiberglass-reinforced plastic is a material made up of glass fibers embedded in a resin matrix. These materials have high tensile and impact strength. Handrails and platforms are two examples of lightweight structural applications that use standard fiberglass. |
| Fiber-reinforced polymer (FRP) | Fiber-reinforced polymer is a composite material made of a polymer matrix reinforced with fibers. The fibers are usually glass, carbon, aramid, or basalt. |
| Flake | This is a dry, peeled-off piece, usually with an uneven surface, and is the base of cellulosic plastics. |
| Fluoropolymers | This is a fluorocarbon-based polymer with multiple carbon-fluorine bonds. It is characterized by high resistance to solvents, acids, and bases. These materials are tough yet easy to machine. Some of the popular fluoropolymers are PTFE, ETFE, PVDF, PVF, etc. |
| Kevlar | Kevlar is the commonly referred name for aramid fiber, which was initially a Dupont brand for aramid fiber. Any group of lightweight, heat-resistant, solid, synthetic, aromatic polyamide materials that are fashioned into fibers, filaments, or sheets is called aramid fiber. They are classified into Para-aramid and Meta-aramid. |
| Laminate | A structure or surface composed of sequential layers of material bonded under pressure and heat to build up to the desired shape and width. |
| Nylon | They are synthetic fiber-forming polyamides formed into yarns and monofilaments. These fibers possess excellent tensile strength, durability, and elasticity. They have high melting points and can resist chemicals and various liquids. |
| PET preform | A preform is an intermediate product that is subsequently blown into a polyethylene terephthalate (PET) bottle or a container. |
| Plastic compounding | Compounding consists of preparing plastic formulations by mixing and/or blending polymers and additives in a molten state to achieve the desired characteristics. These blends are automatically dosed with fixed setpoints usually through feeders/hoppers. |
| Plastic pellets | Plastic pellets, also known as pre-production pellets or nurdles, are the building blocks for nearly every product made of plastic. |
| Polymerization | It is a chemical reaction of several monomer molecules to form polymer chains that form stable covalent bonds. |
| Styrene Copolymers | A copolymer is a polymer derived from more than one species of monomer, and a styrene copolymer is a chain of polymers consisting of styrene and acrylate. |
| Thermoplastics | Thermoplastics are defined as polymers that become soft material when it is heated and becomes hard when it is cooled. Thermoplastics have wide-ranging properties and can be remolded and recycled without affecting their physical properties. |
| Virgin Plastic | It is a basic form of plastic that has never been used, processed, or developed. It may be considered more valuable than recycled or already used materials. |
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Research Methodology
Mordor Intelligence follows a four-step methodology in all our reports.
- Step-1: Identify Key Variables: The quantifiable key variables (industry and extraneous) pertaining to the specific product segment and country are selected from a group of relevant variables & factors based on desk research & literature review; along with primary expert inputs. These variables are further confirmed through regression modeling (wherever required).
- Step-2: Build a Market Model: In order to build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built on the basis of these variables.
- Step-3: Validate and Finalize: In this important step, all market numbers, variables and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
- Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms
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