Aerospace Fluoropolymers Market Size, Share & Forecast (2019-2024)

Aerospace Fluoropolymers Market Insights

Fluoropolymers have played a crucial role in many industries ranging from power generation to automotive to semiconductor to the aerospace industry in order to protect equipment against the attack by a broad range of aggressive chemicals, owing to their excellent chemical resistance and thermal stability than over conventional plastics. Out of many advantages of fluoropolymers, the biggest and the most crucial one its excellent heat resistance. Fluoropolymers can easily withstand the temperature inside the engine compartments of an aircraft.

The market is projected to grow at a healthy rate over the next five years to reach US$ 333.9 million by 2024. Surging commercial and regional aircraft deliveries well supported by the increasing production rates of the next-generation aircraft (B787 and A350XWB) programs and growing demand for durable materials in order to reduce the maintenance cost are the major factors to the growth of the aerospace fluoropolymers market. Another trend that is the significantly impacting the growth of the aerospace fluoropolymers market is that aerospace engineers are looking out for materials that offer the combination of heat resistance and excellent dielectric stability for a broad range of fuels, solvents, corrosive chemicals.

Aerospace Fluoropolymers Market Share Analysis

Aerospace Fluoropolymers Market Share by Aircraft Type

The market is segmented based on the aircraft type as commercial aircraft, regional aircraft, general aviation, helicopter, military aircraft, and UAV. Commercial aircraft is likely to remain the growth engine of the market during the forecast period. Increasing production rates of the key programs, such as B737 and A320 family; the market entry of new players, such as COMAC and Irkut; and the introduction of variants of existing and upcoming aircraft programs, such as B737 max, A320neo and COMAC C919, are likely to create a strong demand for fluoropolymers in the commercial aircraft segment in years to come.

Aerospace Fluoropolymers Market Share by Resin Type

Based on resin type, the market is segmented as polytetrafluoroethylene (PTFE), ethylene tetrafluoroethylene (ETFE), fluorinated ethylene propylene (FEP), fluoroelastomer (FKM), and others. In terms of value, FKM is likely to remain the most dominant segment and it is likely to witness higher growth over the next five years, whereas, in terms of volume polytetrafluoroethylene (PTFE) is likely to remain the largest resin type in the market over the same period. FKM is gaining traction in the aerospace industry because of its non-flammability, low gas permeability and excellent resistance to ozone, weathering, and aging. It also has the excellent abrasion resistance and the ability to seal against hard vacuum, as low as 133 nano pascal (NPA).

Aerospace Fluoropolymers Market Share by Component Type

Based on the component type, the market is classified as hoses & tubes, wires & cables, seals, films, coatings, and others. Wire & cable is likely to remain the most dominant and the second-fastest-growing component type in the market during the forecast period. In order to save weight, cost, and fuel, aircraft designers replaced mechanical and hydraulic systems with electrical systems (fly-by-wire technology), causing the amount of electrical power carried by the aircraft Electrical Wire & Interconnect System (EWIS) to almost double, which is likely to generate a good demand for fluoropolymers in segment during the forecast period. Seals application is projected to grow at the highest rate during the same period.

Regional Insights

In terms of regions, North America is projected to remain the largest market during the forecast period. The USA is the growth engine of the North American aerospace fluoropolymers market. The country is the home of several major tier players, aeroengine OEMs, aircraft OEMs, airlines, MRO companies, and aircraft leasing companies. Mexico, a relatively petite market, is subject to attract some global as well as the North American players’ attention in years to come.

Asia-Pacific is likely to depict the highest growth during the forecast period. The region is likely to remain the most eye-catching market in the foreseeable future, mainly driven by upcoming commercial and regional aircraft, such as C919 and MRJ. Establishment of aircraft assembly facilities by Boeing and Airbus in China is likely to create further demand for fluoropolymers in the region.

Key Players

The supply chain of this market comprises raw material suppliers, aerospace fluoropolymer manufacturers, intermediate product manufacturers, aerospace component manufacturers, and aerospace OEMs. The key aerospace fluoropolymer manufacturing companies are The Chemours Company, Daikin Industries, Ltd., Honeywell International Inc., AGC Inc., Solvay S.A, The 3M Company, and Dongyue Group. Development in the materials to overcome poor weldability, low creep resistance, low radiation resistance, and high microvoid content; execution of mergers & acquisitions, and collaborations with OEMs for the joint development of fluoropolymers are some of the strategies adopted by the major players in order to gain competitive edge in the market.

Research Methodology

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.

Market Scope & Segmentation

The market is segmented in the following ways:

Aerospace Fluoropolymers Market Size, Share & Forecast by Aircraft Type:

• Commercial Aircraft
• Regional Aircraft
• General Aviation
• Helicopter
• Military Aircraft
• UAV

Aerospace Fluoropolymers Market Size, Share & Forecast by Resin Type:

• PTFE
• ETFE
• PFA
• FKM
• Others

Aerospace Fluoropolymers Market Size, Share & Forecast by Component Type:

• Seals
• Wires & Cables
• Hoses & Tubes
• Films
• Coatings

Aerospace Fluoropolymers Market Size, Share & Forecast by Application Type:

• Powder
• Pellets
• Dispersion

Aerospace Fluoropolymers Market Size, Share & Forecast by Region:

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: France, Germany, the UK, Spain, Russia, and Rest of Europe)
• Asia-Pacific (Country Analysis: Japan, China, India, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: South America, the Middle East, and Others)

Report Features

This 260-page comprehensive report, from Stratview Research, provides the aerospace fluoropolymers market size, studies the market trend for the period of 2013 to 2018, and forecast the market for the period of 2019 to 2024. 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 formulate growth strategies.

The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.