Fluorinated Ethylene Propylene Market Report
Fluorinated Ethylene Propylene Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2022-2027 See less
Fluorinated Ethylene Propylene Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2022-2027
Fluorinated Ethylene Propylene Market is segmented by Product Type (Granules, Films, Powder, Tubes, Coatings, and Others), by Application Type (Electrical & Electronics, Automotive & Transportation, Chemical Processing, Cookware & Food Processing, Industrial and Mechanical Equipment, Medical, and Others), and by Region (North America [The USA, Canada, and Mexico], Europe [Germany, France, The UK, Russia, Italy, and Rest of Europe], Asia-Pacific [China, Japan, India, South Korea, and Rest of Asia-Pacific], and Rest of the World [Brazil, Argentina, and Others]).
Fluorinated Ethylene Propylene Market is segmented by Product Type (Granules, Films, Powder, Tubes, Coatings, and Others), by Application Type (Electrical & Electronics, Automotive & Transportation, Chemical Processing, Cookware & Food Processing, Industrial and Mechanical Equipment, Medical, and Others), and by Region...
Fluorinated ethylene propylene (FEP) is an inert, transparent, semi-crystalline chemical compound composed of hexafluoropropylene and tetrafluoroethylene linked together to form a copolymer. FEP is a widely used corrosion prevention coating for metallic surfaces due to its non-reactivity and low friction. FEP is ideal for applications requiring high chemical resistance, long-term durability over a wide temperature range, excellent dielectric properties, and a low coefficient of friction. In terms of chemical inertness, dielectric properties, coefficient of friction, and high-heat resistance, FEP is very similar to polytetrafluoroethylene (PTFE).
The outbreak of the pandemic shook every industry, including aerospace & defense, food & beverages, automobile & transportation, chemical & material, consumer goods, energy & power, pharmaceutical & healthcare, and many others. As a result, industries across regions experienced a decline in 2019-2020. The overall market for FEP has been impacted by COVID-19 and the growth rate has also been affected in the year 2020.
However, the fluorinated ethylene propylene market is estimated to grow at a decent CAGR of 8.0% during the forecast period. The FEP market is driven by major factors such as cost-effectiveness, alternative to PTFE in non-stick applications of the food industry, and rising demand for FEP coatings in semiconductors of electronic appliances. Furthermore, FEP has properties such as excellent corrosion resistance, high dielectric strength, and flexibility, making it suitable for a wide range of applications such as coating films in the electronic & electrical, automotive, and chemical industries. Furthermore, the rapid growth of the automotive industry is propelling the market forward.
Based on the product type, the market is bifurcated into granules, films, powder, tubes, coatings, and others. The coatings segment remains the biggest demand generator for FEP in the foreseen future. Major factors such as favourable government policies, increasing demand for manufacturing various appliances such as washers & dryers, vending machines, and refrigerators are accelerating the demand for this segment.
Based on the application type, the market is segmented as electrical & electronics, automotive & transportation, chemical processing, cookware & food processing, industrial and mechanical equipment, medical, and others. The electrical & electronics segment is likely to hold the major share of the market during the forecast period. FEP coatings are the primary coating material used in the electrical & electronics industry due to their excellent chemical-resistant properties, and electrical insulation.
In terms of regions, North America is expected to be the fastest-growing region in the market for fluorinated ethylene propylene over the forecast period. The market in the North American region will be driven by soaring natural gas demand, investments in the healthcare industry, where FEP has a unique application, and the growing auto industry. Also, Asia-Pacific, led by India, Japan, and China, will clock substantial gains due to surge in the demand for high-speed transmission cables from the thriving 5G services sector. Due to the product's insulating and flame-resistant qualities, it is frequently used to coat wires and cables for insulation and to shield the remaining structure from electric current. The fluorinated ethylene propylene market growth is likely to be accelerated by significant economic growth, government investment, evolving telecom industry, and expanding smart city initiatives.
Electrical & electronics remains one of the key industries that all the key FEP suppliers are targeting today. The following are some of the key players in the fluorinated ethylene propylene market:
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s fluorinated ethylene propylene market realities and future market possibilities for the forecast period of 2022 to 2027. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
The fluorinated ethylene propylene market is segmented into the following categories:
Fluorinated Ethylene Propylene Market, by Product Type
Fluorinated Ethylene Propylene Market, by Application Type
Fluorinated Ethylene Propylene Market, by Region
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The fluorinated ethylene propylene market is estimated to grow at a CAGR of 8.0% by 2027, driven by major factors such as cost-effectiveness, alternative to PTFE in non-stick applications of the food industry, and rising demand for FEP coatings in semiconductors of electronic appliances.
3M Company, AMETEK, Inc., BASF SE, Daikin Industries, Ltd., DuPont, Polyfluor Plastics B.V., Saint-Gobain, Shandong Hengyi New Material Technology, Shanghai 3F New Materials Co. Ltd., and The Chemours Company are some of the key players in the market.
Asia-Pacific is estimated to be dominant in the fluorinated ethylene propylene market in the coming years. The product's insulating and flame-resistant properties, for which it is frequently used to coat wires and cables for insulation and to shield the remaining structure from electric current, are what are driving the region's market growth.
North America is estimated to grow at the fastest rate in the coming five years due to increasing demand from The US and the oil & gas industry.
Electrical & electronics is likely to maintain its dominance in the market in the next five years. FEP coatings are the primary coating material used in the electrical & electronics industry due to their excellent chemical-resistant properties, and electrical insulation.
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