Future Market Insights (FMI) projects the global fluoropolymers in healthcare market to surge at a steady CAGR above 4.7% throughout 2020-2030. The growing interest in fluoropolymers (FP) among healthcare professionals and patients in the recent few decades due to its favorable attributes such as durability, thermal stability, and chemical inertness (to acids, solvents, and oils) is creating fertile breeding ground fluoropolymers manufacturers.
While the sector has been shaken owing to pandemic-induced restrictions, the expansion will resume with steady ease of restrictions. Additionally, the COVID-19 outbreak is boosting sales of medical equipment and hospital disposables since epidemiological numbers continue to rise. These trends would work in favor of the market.
“The COVID-19 outbreak has substantially altered the way businesses and consumers perceive packaging safety and health, with the battle against single-use plastic put on hold to satiate these fluctuating expectations. In spite of being familiarized with the negative effects of plastic on surroundings, customers are concerned about infection risk related to reusable packaging. These uncertainties concerning the infection spread have put sustainability to back seat”, says the FMI analyst.
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Fluoropolymers in Healthcare Market – Key Takeaways
- In terms of product, polytetrafluoroethylene (PTFE) will augur well for the market due to their resistance against corrosion and several chemical agents.
- Based on application, hospital disposable are gaining traction due to the growing prevalence of HAIs and particularly amid the COVID-19 pandemic.
Fluoropolymers in Healthcare Market – Key Trends
- Pharma packaging and hospital disposables are conventional applications for fluoropolymer producers that will contribute to bode well with market growth.
- Implementation in medical devices such as introducers and catheters are likely to grow swiftly in approaching years.
- The pandemic has given rise to several HAI’s across geographies, subsequently boosting the market growth.
Fluoropolymers in Healthcare Market – Regional Analysis
- East Asia fluoropolymers in the healthcare market will continue to engage stakeholders wherein South Korea and China jointly gain around 90% of the total regional market share.
- Europe will be the second biggest market as the pharmaceutical sector is amid key-performing high-tech sectors. Germany towers over other regions in the European market.
- The US will provide a major impetus to the North America market, making it predominant over other regions due to steady increment in medical surgeries and HAI’s( hospital-acquired infections)
Fluoropolymers in Healthcare Market – Competitive Landscape
Fluoropolymer producers are focusing on producing multipurpose products for example compounded or customized in addition to standard products.
Additionally, they are seeking to equip their contributions with innovative technologies to satiate to high-end applications. Another major focus area for global market players will be mergers & acquisitions (M&A). For instance,
Daikin Industries Ltd. took over Heroflon, whose product assembly comprises fluoropolymer and micro-powders compounds inferred from PTFE.
Some of the prominent manufacturers identified in the global market are DIC Corporation, 3M Company, AGC Inc., Solvay S.A., Dongyue Group Ltd., Daikin Industries Ltd., PolyOne Corporation, Lonza, Kaneka Corp., Saint Gobain S.A., Arkema Group, and The Chemours Company.
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Fluoropolymers in Healthcare – Taxonomy
- Medical Devices
- Hospital Disposable
- Pharma Packaging
- ● North America
- ● Latin America
- ● Europe
- ● South Asia
- ● East Asia
- ● Middle East & Africa
- ● Oceania