Asia Pacific Fluoropolymer Films Market Value was over USD 1.04 billion in 2019 and will grow at a CAGR of more than 5.9% up to 2026.
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Fluoropolymer film is a type of base material (to which a coating or plating is applied), which comprises carbon and fluorine molecule. This film is widely used in high temperature and extreme chemical environments to meet the required performance specifications. Fluoropolymer films showcase properties including low coefficient of friction, chemical resistance, transparency, weather resistance, heat resistance, and electrical characteristics.
The high demand from various industries, such as construction, electrical & electronics, solar, etc., is expected to drive the PVDF segment over the forecast timeframe. Various industries are involved in increasing their R&D activities for future advancement and technology innovation in polyvinylidene fluoride to replace other metals and plastics. For instance, Arkema, a leading chemical company has made substantial investments in PVDF capacity expansion in emerging economies.
The rapidly growing automotive industry in Asia Pacific is expected to drive the fluoropolymer films market. The Increasing demand for improved mobility solutions along with escalating electric vehicles sales across the region will complement industry growth. The rising per capita disposable income is providing potential opportunities for buying high-performance vehicles with aesthetically-pleasing exteriors. Fluoropolymer decorative films are utilized in numerous automotive parts including bodyside moldings, rocker panels, roofing strips, front & rear bumpers, tail lamp bumpers, mirror housings, and pillars. Higher resistance to corrosion and weathering makes them ideal solutions for improving the automobile exteriors. Moreover, rapidly growing electronics industry in the region will contribute to the product demand growth in the coming years. High electronics production in countries, such as China, South Korea, Japan, and India, coupled with growing exports of electronics components will fuel the demand for fluoropolymer films over the projected timeframe.
The companies are trying to increase their presence across the region to increase their customer base. For instance, in August 2017, Daikin, one of the major fluoropolymer film producers, established a new subsidiary in Thailand to increase its presence in Asia Pacific and revenue. The aforementioned trends are likely to make subsequent positive impact on the overall fluoropolymer films market size over the forecast timeframe. Other major companies operating in the Asia Pacific market are Solvay S.A., 3M, The Chemours Company, Arkema Group, Saint Gobain S.A., Kureha Corporation, Honeywell Corporation, Polyflon Technology Ltd., AGC Inc., and Fluortek AB.