ETFE Market Growth & Forecast Analysis

Market Insights

The ETFE (Ethylene Tetrafluoroethylene) Market was estimated to grow from USD 350.7 million in 2021 to USD 539.59 million by 2028 at a CAGR of over 6.24% during the forecast period.

What is ETFE?

ETFE stands for Ethylene Tetrafluoroethylene, which is a type of fluoropolymer. It is a highly transparent plastic material known for its exceptional strength, durability, and weather resistance. ETFE is commonly used in architectural applications, particularly in the construction of large, transparent roofs and facades for buildings and stadiums.

Market Dynamics

Surge in the usage of ETFE in solar panels

Photovoltaic (PV) materials are traditionally protected with glass sheets due to their light-transmitting properties. However, with the growth of PV applications, companies are seeking alternatives due to their high weight and rigidity. Ethylene fluoride (ETFE) films offer thermal and chemical flexibility, and good mechanical properties, and are used for the front and backing sheets of PV modules. They improve solar cell efficiency by transmitting 90%-95% of light and enhance durability due to their resistance to adverse weather conditions. ETFE films are lightweight, withstand UV exposure, and provide cushioning and structural support for solar cells and circuitry. They also reduce system costs, packaging costs, and shipping costs. ETFE films have a low coefficient of friction, allowing self-cleaning, and are integrated with a matte finish to minimize glare reflection. With the goal of Net Zero Emissions by 2050, global solar PV power generation in 2030 is expected to reach 6,970 TWh, increasing demand for ETFE films.

Opportunity: Growth potential in emerging economies

Emerging economies, particularly Asia Pacific, the Middle East, and South America, are experiencing rapid industrial development, leading to a surge in the building and construction industry. The use of ETFE tensile structures has revolutionized the industry, allowing architects to create exceptional structures. The flexibility of integrating ETFE films with conventional construction techniques has led to limitless designs, as seen in the 2020 design of the FALCON MALL roof in Kunming, China, by Vector Foiltec.

Tensile structures are gaining popularity in emerging clusters like India, Brazil, China, MENA, and ASEAN due to cost efficiency, aesthetic benefits, and robust service. India is emerging as a major market for tensile architecture and awnings & canopies due to its acceptance of architecture films as a cost-effective building material. These factors offer significant growth opportunities for market players. 

Asia-Pacific is expected to lead in solar power generation in the next five years, driven by the increasing adoption of PV modules in countries like China, Japan, and India. Government initiatives and policies promoting solar energy are expected to drive demand for PV systems. The shift towards electric vehicles (EVs) will also boost the automotive industry in the region while emerging economies' end-use industries offer opportunities for ETFE producers.

Segment Analysis

Type Trends

The market is segmented as pellet/granule and powder. The pellet/granule segment accounted for the largest share of the market in 2021, in terms of both, value and volume, and the segment is likely to continue its dominance during the forecast period as well. The growth is owing to the extensive use of ethylene tetrafluoroethylene granules in electric wires & cables, valve lining, spray painting, and acid-resistant and alkali-resistant injection products.

Further, when ethylene tetrafluoroethylene in granular form is extruded into films & sheets, and wires & cables, it is subsequently used by various end-use industries, such as automotive, architecture, aerospace, and chemical processing.   

Technology Trends

The market is segmented as extrusion molding, injection molding, and others. The injection molding technology segment is estimated to witness the highest growth, in terms of both, value and volume. This growth is attributed to the properties of ethylene tetrafluoroethylene resins, which can be processed at a wide range of temperatures because of their enhanced thermal stability and low melting points employing conventional injection molding techniques. Further, ethylene tetrafluoroethylene resins are resistant to ultraviolet rays, which makes them suitable for outdoor applications.

Application Trends

The market is segmented into films & sheets, wires & cables, tubes, coatings, and others. The films & sheets segment accounted for the largest share of the market in 2018, in terms of both, value and volume, and the segment is likely to maintain its dominance during the forecast period as well.

Of late, glass in the building & construction industry is being replaced by ethylene tetrafluoroethylene films & sheets, on account of their excellent light transmission properties. Ethylene tetrafluoroethylene sheets, when assembled into cushions, are inflated for structural applications and they offer thermal insulation with minimal initial costs and lesser structural support against conventional glazed roofs.

Region Trends

The North American region is the largest global consumer of ethylene tetrafluoroethylene. The growth of the North American market is owing to the increased demand for ethylene tetrafluoroethylene from various end-use industries of the region. On the other hand, the Asia-Pacific’s market is estimated to register the highest CAGR during the forecast period, in terms of both, value and volume. The growth of the market in the Asia-Pacific region is driven by the easy accessibility of cheap labor and raw materials in the region.

Additionally, the burgeoning economies of countries such as China, Indonesia, Taiwan, and India are also alluring new foreign investments in these countries, thereby contributing to the growth of various end-use industries in the region. Also, the design and implementation of various policies mandating the use of environment-friendly products have led to various innovations in the ethylene tetrafluoroethylene industry of the region.

Segmentation

This report studies the market covering 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 Type:

• Pellet/Granule 
• Powder

By Technology Type:

• Extrusion Molding 
• Injection Molding 
• Others 

By Application Type:

• Films & Sheets 
• Wires & Cables 
• Tubes 
• Coatings 
• Others 

By Region:

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

Key Players

Some of the top players in the ETFE (Ethylene Tetrafluoroethylene) market are-

• Vector Foiltec
• Asahi Glass Company
• Daikin Industries, Ltd.
• Ensinger GmbH
• Guangzhou Lichang Fluoroplastics Co. Ltd.
• Hubei Everflon Polymer Co. Ltd.
• The 3M Company
• The Chemours Company
• Quadrant AG

Research Methodology

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 10 detailed primary interviews with the lithium-ion battery market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the dynamics and will enable strategic decision-making for the existing players as well as those willing to enter the global market.

What Deliverables Will You Get in this Report?

Customization Options

Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the types by application type.  

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

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