Europe Fluoropolymer films Market Share was over USD 489.5 million in 2019 and will grow at a CAGR of more than 3.3% up to 2026.
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Europe will account for a substantial growth in the fluoropolymer films market owing to the growing transportation sector across the region. The region has a strong presence of automobile manufacturers along with the rising aviation industry. Thriving demand for commercial and regional aircraft around the world will significantly boost fluoropolymer demand in Europe. Rising utilization of decorative films in automobiles and aircraft will positively influence market growth. Moreover, increasing demand for automobiles along with rising production capacity will escalate the industry growth.
Fluoropolymer films have a wide range of applications in construction, transportation, industrial processing, food and pharmaceuticals, packaging, and others. The industrial processing segment will account for a significant share in the Europe market owing to its excellent dielectric & cryogenic properties, outstanding flame resistance, and higher mechanical strength. Various advanced medical applications involving fluoropolymer films have been discovered in recent years. The industry is at the flourishing stage presently with a robust growth potential over the projected timeframe.
Fluorinated Ethylene Propylene (FEP) will witness a strong growth among all fluoropolymers. It is an excellent electrical insulator and has a very low coefficient of friction. FEP film is widely used as a release film for molding, 3D printing applications, and as gas sample bags. Fluorinated ethylene propylene coatings have been used in the food & beverage industry due to their ability to offer high crack stress resistance, good abrasion, and chemical resistance. Increasing demand for Fluorinated Ethylene Propylene (FEP) will propel the industry growth.
Among all the application sectors, the industrial segment will showcase the highest growth rate. Fluoropolymer films are used as release sheets in the compression molding of high-temperature parts with epoxy and phenolic resins. They are also used as liners; for example, as roll cover to protect metal rolls from corrosion in the chemical processing industry. Industrial applications will increase in the future owing to rising end product demand and per capita consumption.
Europe fluoropolymers will face challenges from fluctuating crude oil prices along with high production costs. Furthermore, the ongoing COVID-19 pandemic has disrupted the supply chain regionally and globally.
Expansion of production capacity will remain a key strategy for product manufacturers due to the presence of big players in the market. In May 2019, DAIKIN INDUSTRIES, Ltd. invested around USD 896 million to double the output of fluoropolymers in anticipation of chip demand, growing with the spread of 5G communication.