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APAC Fluoropolymer Films Market Revenue to Hit $1.5 Billion Benchmark by 2026
Published Date: 2020-12-16
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According to the Graphical Research new growth forecast report titled “APAC Fluoropolymer Films Market size will surpass USD 1.5 billion by 2026”. The expanding construction industry owing to growing population and urbanization in the region is projected to boost the Asia Pacific fluoropolymer industry growth during the forecast timespan.
Asia Pacific has the biggest automotive industry globally with more than 40 million vehicles sold each year. Countries including China, Japan, and India are significantly contributing to higher market share in automobile production. Moreover, the growing economic condition in the region will further boost the automotive industry over the projected period of time. The rising demand for electronics products over the region is expected to drive the regional share. The expansion of plant capacities and regional networks of manufacturing industries in India and Japan will support the industry expansion over the study timeframe.
The medical & healthcare segment possesses a significant growth potential owing to the proliferating pharmaceutical industry and healthcare sector in the region. This can be attributed to the large population and growing medical tourism in countries, such as India and China, owing to quality services at low cost. Furthermore, increasing health concerns and medication requirements are prominently escalating the utilization of medical devices and drugs. The enhanced capabilities of PCTFE films to be laminated on a variety of substrates including amorphous polyethylene terephthalate (APET), polyethy-lene-terephtalate glycol (PETG), and PVC are beneficial for pharmaceutical packaging. The increasing utilization of fluoropolymer films in barrier films, packaging materials of medical devices, and corrosion-sensitive components will augment the segment share over the projected timeframe.
The construction segment possesses a substantial growth potential owing to the increasing utilization of fluoropolymer films in new residential buildings and sports complexes. PVF films are increasingly used for wall coverings, residential & commercial siding, trim & accents, stadium domes, flexible laminates, and building panels. The expansion of the construction industry with development of green buildings and smart homes will prominently escalate the APAC fluoropolymer films market size over the study timeframe.
The industrial processing segment was one of the most lucrative industries in the APAC fluoropolymer films market owing to increasing investments in expansion of chemical factories across the region. Fluoropolymer films are utilized as laminate films and release films for compensators, seals, and expansion joints in chemical industries. They are also used as flexible liners in transfer systems, seal and gasket designs owing to their high strength, improved elongation, and dielectric strength. The growing demand for release films, composite sheets, and laminates for food processing, baking, and grilling applications will further escalate the segment size.
The companies operating in the industry are increasing their production capacity to cater to the growing product demand. For instance, in April 2017, Arkema opened a new production facility in China for Kynar fluoropolymer, with 25% increase in production capacity of China. This strategic initiative had generated a significant market revenue and increased its production volume. Other prominent players in the industry are 3M, Solvay S.A., Daikin Industries, Ltd., Honeywell Corporation, and Kureha Corporation.
The APAC fluoropolymer films market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2016 to 2026 for the following segments:
APAC Fluoropolymer Films Market, By Polymer
APAC Fluoropolymer Films Market, By Application
- Electrical & electronics
- Industrial Processing
- Medical & healthcare
The above information is provided on a country basis for the following:
- South Korea