The 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]).
The Fluorinated Ethylene Propylene Market is segmented by Product Type ...
The Fluorinated Ethylene Propylene Market is expected to grow from USD 808.5millionin 2022 to USD 1293.7millionby 2028 at a CAGR of 8.10% during the forecast period.
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).
Market Dynamics
The FEP market is driven by major factors such as cost-effectiveness, an 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.
Covid-19 Impact
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.
Segments Analysis
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.
The market is segmented into the following categories-
By Product Type
Granules
Films
Powder
Tubes
Coatings
Others
By Application Type
Electrical & Electronics
Automotive & Transportation
Chemical Processing
Cookware & Food Processing
Industrial and Mechanical Equipment
Medical
Others
By Region
North America
Europe
Asia-Pacific
Rest of the World
By 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 favorable government policies, and increasing demand for manufacturing various appliances such as washers & dryers, vending machines, and refrigerators are accelerating the demand for this segment.
By 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 will likely hold the market's major share 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.
Regional Analysis
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 gainsdue to a 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.
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Key Players
Electrical & electronics remain 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:
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.
The Chemours Company
Research Methodology
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 2023 to 2028. 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.
Report Features
This report provides market intelligence most comprehensively. 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.
What Deliverables Will You Get in this Report?
Key questions this report answers
Relevant contents in the report
How big is the sales opportunity?
In-depth Analysis of the Fluorinated Ethylene Propylene Market
How lucrative is the future?
Market forecast and trend data and emerging trends
Which regions offer the best sales opportunities?
Global, regional, and country-level historical data and forecasts
Which are the most attractive market segments?
Market segment analysis and Forecast
Which are the top players and their market positioning?
Porter’s five forces analysis, PEST analysis, Life cycle analysis
What are the factors affecting the market?
Drivers & challenges
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10% free customization
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With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
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Detailed profiling of additional market players (up to three players)
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Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances
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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.
Electrical & electronics will likely maintain its market dominance 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.
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 are expected to fuel the market growth in the coming years.
