The global fluorocarbon coating market is expected to post a CAGR of nearly 10% during the forecast period 2019-2023, according to the latest market research report by Technavio.
Fluorocarbon coatings are widely used in automotive components to improve the operational life of the vehicle. Fluorocarbon coatings reduce corrosion, provide good resistance to various fluids, and resist chipping and flaking of vehicle components. Fluorocarbon coatings in the form of PTTE, PFA, and FEP are used to coat engine components to protect them from external elements. The growing demand for automobiles across the globe will drive the markets growth during the forecast period.
This market research report on the global fluorocarbon coating market 2019-2023 provides an analysis of the most important trends expected to impact the market outlook during the forecast period.
In this report, Technavio highlights the growing medical devices market as one of the key emerging trends in the global fluorocarbon coating market.
Global fluorocarbon coating market: Growing demand for medical devices
The medical devices industry highly prefers fluorocarbon coatings because of its favorable properties such as high-purity, excellent chemical inertness, and biocompatibility among others. Fluorocarbon coatings such as PTFE, FEP, and PVDF are used in the manufacture of catheters, containment vessels, syringes, and surgical sutures. PVDF offers excellent dimensional and UV stability, better permeable resistance, and high tensile strength. The increasing use of medical devices such as tubes, pumps, catheters, syringes, etc., that require fluorocarbon coating will boost the markets growth during the forecast period.
Many vendors are increasing their production capacities to meet the demand from end-user industries. For instance, Arkema increased its PVDF fluoropolymer capacity in China to serve its Asian base. Similarly, The Chemours Company increased the production capacity of its high-performance polymer Teflon branded PFA to cater to the demand for fluoropolymers in the telecom industry. The increase in many such production capacities by vendors will drive the demand for global fluorocarbon coating market during the forecast period, says an analyst at Technavio.
Global fluorocarbon coating market: Segmentation analysis
This market report segments the global fluorocarbon coating market by type (PTFE, PVDF, FEP, FEVE, and others), technology (solvent-borne and waterborne) and geography (APAC, Europe, MEA, North America, and South America).
APAC led the market in 2018 with a market share of 35%, followed by North America, Europe, MEA, and South America respectively. The dominance of APAC can be attributed to the presence of leading automotive manufacturers such as MARUTI SUZUKI INDIA LIMITED, Hyundai Motor Company, Nissan, Toyota Motor Thailand, and others.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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