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Aerospace Fluoropolymers Market Report
Aerospace Fluoropolymers Market Size, Share, Trend, Forecast, & Competitive Analysis: 2021-2026
Fluoropolymers are the family of high-performance plastics that contain molecules of carbon and fluorine. They are known for their excellent properties such as outstanding weather stability, chemical resistance, low coefficient of friction, low surface energy, and low dielectric constant. They play a crucial role in many industries ranging from power generation to automotive to semiconductor to aerospace in order to protect components from a broad range of aggressive chemicals and harsh environments.
The aerospace industry demands high-performance materials with fluoropolymers became one of the materials of choice for the manufacturers. Out of many advantages of fluoropolymers, the biggest and the most crucial one for the aerospace industry is its excellent heat resistance. Fluoropolymers can easily withstand the temperature inside the aircraft engine compartments.
The fluoropolymers market for the aerospace industry consecutively registered positive growth over the past three years (2015-2018), but recorded a decline in 2019, mainly due to the grounding of B737 Max, delayed deliveries of upcoming aircraft programs such as B777x, revised production rates of key aircraft programs, and faded air passenger growth. These factors negatively impacted the entire supply chain including the demand for aerospace fluoropolymers.
The rapid spread of the COVID-19 devastated the market hope by disrupting the supply chain, deferment of orders by airlines and leasing companies, and delays in B737 Max's approval. As a result of that, both of the giants (Boeing and Airbus) had no option except to curtail the production rates of their key programs. Airbus has truncated the production rate of its key programs (A320, A330, and A350) by 1/3rd amid the pandemic. The pandemic is still spreading; therefore, it is extremely challenging to estimate the real impact of it on the market for the short-term as well as for the long-term. The aerospace fluoropolymers market is estimated to follow a similar trajectory of the entire aerospace industry ecosystem and is subjected to witness a huge plunge in its sales in 2020, taking the market to below 2015-level.
However, the impact of the pandemic proves to be transitory with demand is anticipated to quickly rebound from 2021 onwards, ultimately driving the market to reach US$ 0.27 billion in 2026. An expected recovery in the GDP to revitalize the positive waves, huge order backlogs by Airbus and Boeing, B737’s approval from FAA and other bodies, and expected entries of COMAC (C919) and Irkut (MC-21), to assist the prompt recovery of the aerospace fluoropolymers market.
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Based on the aircraft type, the market is segmented as commercial aircraft, military aircraft, helicopter, regional aircraft, general aviation, and UAVs. All aircraft types are estimated to record declines in the demand for fluoropolymers in years to come with commercial, regional, and general aviation to be the biggest victims of the pandemic. Military aircraft, UAVs, and helicopters to record a relatively low decline in the year 2020.
Despite logging a massive decline in 2020, commercial aircraft is expected to maintain its unassailable lead in the market in years to come. Both Boeing and Airbus have huge order backlogs of 12,661 aircraft (Airbus: 7,501 and Boeing: 5,160) as of August 2020 and excellent order backlogs of upcoming aircraft (Irkut and COMAC) are likely to resuscitate the demand for fluoropolymers in the commercial aircraft segment in the long term. UAV occupies a low share of the market and is likely to offer consequential growth opportunities in the coming years.
Based on the resin type the market is segmented into polytetrafluoroethylene (PTFE), ethylene tetrafluoroethylene (ETFE), fluorinated ethylene propylene (FEP), fluorocarbon elastomer (FKM), and others. FKM is expected to remain the most dominant resin type in the market by 2026. The resin type is also estimated to rebound at the fastest rate in the post-pandemic market scenario. Non-flammability; low gas permeability; excellent resistance to ozone, weathering, and aging; excellent abrasion resistance; and the ability to seal against hard vacuum (up to 133 nano pascal), make FKM suitable for the aerospace applications such as sealing devices for gas turbine engines, auxiliary power units, air cycle machines, filters, integrated drive generators, hydraulic servos, and actuators.
Based on the component type, the market is segmented as hoses & tubes, wires & cables, seals, coatings, films, and others. Wires & cables are projected to remain the most dominant component type in the market during the forecast period, owing to a shift from mechanical and hydraulic systems to electrical systems (fly-by-wire technology) and increasing demand for in-flight entertainment (IFE) and electrical wiring interconnect system (EWIS) in order to reduce the weight and size of wires & cables with high standards of safety and reliability. Post pandemic, seals are expected to rebound at the fastest rate. Fluoropolymer seals are the most suitable for applications where high resistance to extreme temperatures, high-contact pressures, and reliable protection are critical factors to consider.
Based on the application type, the market is segmented into powder, pellets, and dispersion. Pellets are expected to remain the most dominant application type in the market and are also to rebound at the fastest rate during the forecast period. It is used to produce aircraft components, such as tubes, rubber hose lining, valve cover, fuel sender seals, gasket & O-rings, wire insulation, elastomeric jacketing, engine crank, and camshaft seals.
The market is registering significant changes in regional dynamics in the post-COVID scenario. All regions to mark significant declines in aerospace fluoropolymers demand in 2020. Despite severely hit by the pandemic, North America is expected to remain the largest market during the forecast period. Post pandemic, the USA is expected to rebound quickly and will act as the growth engine of the region’s market. Major aerospace fluoropolymer manufacturers have their presence in the region to address the emergent needs of OEMs and tier players.
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Europe and Asia-Pacific are the other major markets and are also likely to experience hefty declines in the demand for aerospace fluoropolymers in 2020. The Asia-Pacific’s market is anticipated to witness the least decline in the demand for aerospace fluoropolymer and is expected to recover at the fastest pace compared to other regions. The region's demand will be driven by a host of factors including an expected increase in the demand for commercial aircraft to support rising passenger traffic, the opening of assembly plants of Boeing and Airbus in China; upcoming indigenous commercial and regional aircraft (COMAC C919); the presence of major global players and raw material suppliers. China, Japan, and India are projected to be the growth engines of the region’s market. China wants more than 10% of passenger jets on major routes to be made at home within five years under the "Made in China 2025” program.
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Research Scope |
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|---|---|
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Trend & Forecast Period |
2015-2026 |
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Size in 2026 |
US$ 0.27 billion |
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Regions Covered |
North America, Europe, Asia-Pacific, Rest of the World |
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Countries/Subregions Covered |
The USA, Canada, Mexico, France, Germany, the UK, Spain, Russia, Japan, China, India, Brazil, Saudi Arabia and Others |
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Figures & Tables |
>150 |
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Customization |
Up to 10% customization available free of cost |
The global aerospace fluoropolymers market is segmented into the following categories.
The supply chain of this market comprises raw material suppliers, aerospace fluoropolymer manufacturers, component manufacturers, distributors, tier players, OEMs, and end-users.
The key aerospace fluoropolymer manufacturing companies are-
For calculating the market size, our analysts follow either Top-Bottom or Bottom-Top approach or both, depending upon the complexity or availability of the data points. Our reports offer high-quality insights and are the outcome of 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. We leverage multitude of authenticated secondary sources, such as company annual reports, government sources, trade associations, journals, investor presentation, white papers, and articles to gather the data. More than 10 detailed primary interviews with the market players across the value chain in all four regions and industry experts are usually executed to obtain both qualitative and quantitative insights.
This 294-page strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s aerospace fluoropolymers market realities and future possibilities for the forecast period of 2021 to 2026. The report estimates the short- as well as long-term repercussions of the COVID-19 pandemic on the demand for aerospace fluoropolymers at the global, regional, as well as country level. Also, the report provides the possible loss that the industry will register by comparing pre-COVID and post-COVID scenario. The vital data/information provided in the report can play a crucial role for market participants as well as investors in formulating short-term as well as long-term growth strategies.
The following are the key features of the report:
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Market Segmentation
Competitive Benchmarking
Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com
Fluoropolymers are the family of high-performance plastics that contain molecules of carbon and fluorine. They are known for their excellent properties such as outstanding weather stability, chemical resistance, low coefficient of friction, low surface energy, and low dielectric constant. They play a crucial role in many industries ranging from power generation to automotive to semiconductor to aerospace in order to protect components from a broad range of aggressive chemicals and harsh environments.
Driven by a number of factors like growing demand for durable materials in order to reduce the maintenance cost, the aerospace fluoropolymers market is projected to reach an estimated value of US$ 0.27 billion in 2026.
In terms of region, Asia-Pacific is likely to witness the highest growth during 2021-2024.
The key aerospace fluoropolymer manufacturing companies are AGC Inc, Daikin Industries, Ltd., Dongyue Group, The Chemours Company, The 3M Company, Arkema S.A, and Solvay S.A.
Pellets are expected to remain the most dominant application type in the aerospace fluoropolymers market in the coming years.
Wires & cables are expected to remain dominant component type in the aerospace fluoropolymers market during the next five years.
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