Fluoropolymer Coating Market: Current Analysis and Forecast (2021-2027)

Over the years, the industrial production has increased manifolds owing to growing population, urbanization, and improving standard of living. This has created demand of product which are not only suffice the general requirement but also safe and provide high-performance. Owing to which companies are focusing on fluoropolymer coatings in order to meet the consumer expectation and provide value addition in the final product. Fluoropolymer coating has non-stick, chemical resistance, non-wetting, corrosion resistance properties. It also has very low dielectric and dissipation factors that provide superior signal insulation to data transmission networks. Therefore, In the era of digital world, where low latency is a must in order to deal with complex data, thus with increasing digitalization demand of fluoropolymer coating is expected to see a robust growth from semiconductor industry. In the light of COVID-19, demand of semiconductor has increased, resulted in supply-chain disruption, as a result industry has taken several initiatives to meet the growing demand, this in turn is expected to increase the demand of fluoropolymer. For instance, in 2021, Taiwan Semiconductor Manufacturing Company (TSMC) announced the plan to spend USD100 billion over the next three years to expand its chip fabrication capacity and fund research and development (R&D) of advanced technologies.

Based on base, the market is categorized into water-based, solvent-based, and others. Depending upon the requirement company use fluoropolymer coatings which have different formulation. Daikin Industries provide a range of fluoropolymer coating which are used in bakeware, cookware, automobile parts, and chemical resistant lining, among others.

Based on type, the market is categorized into PTFE, FEP, ETFE, PVF, PVDF, FEVE, and Others. Among these, PTFE has accounted for significant share in the market and is expected to showcase robust growth during the forecast period. This can be attributed to its usage in wide range of industrial production like cookware, automobile, aerospace and defense components. Further, increasing development and installation of 5G networking equipment, demand of PTFE is growing as PTFE helps in achieving low-latency, thus improving the network performance.

Based on end-user, the market is categorized into aerospace and defense, industrial, automotive, food processing, electrical & electronics, building and construction, and others. Among all, electrical & electronics industry is likely to showcase robust growth during the forecast period. As the demand of semiconductor witnessed robust growth in 2021, therefore chip manufacturer has taken several initiative to reduce the supply-demand gap. This in turn would boost the demand of fluoropolymer coating. PTFE or Teflon is used by semiconductor manufacturers to prevent chip and component contamination from airborne particles. Further, coating have superior reliability, retention, and durability while also preventing contamination of any kind. In addition, it is expected that by 2026, more than half of all mobile data traffic will travel over 5G networks. Faster networks depend on PTFE melt polymers and coatings to keep the data reliably flowing.

For a better understanding of the market adoption of fluoropolymer coating, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, Rest of North America), Europe (Germany, UK, France, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. Asia-Pacific accounted for significant share in the market and is expected to showcase substantial growth during the forecast period owing to large and growing base of end-use industry due to improving consumer spending power, rapid urbanization, and growing demand for better quality products. Further, industrial shift in the region from western economies has increased the demand of fluoropolymer coating in the region.

Some of the major players operating in the market include The Chemours Company, PPG Industries Inc., Akzo Nobel N.V., Daikin Industries Ltd., BASF SE, The Sherwin-Williams Company, Tnemec Company Inc., Axalta Coating Systems Ltd., Kansai Nerolac Paints Limited, and KCC Corporation.