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Europe Fluoropolymer Films Market To Worth Over $500 Mn By 2026
Published Date: 2021-01-16
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According to the Graphical Research new growth forecast report titled “Europe Fluoropolymer Films Market size will surpass USD 500 million by 2026”. Rising pharma industry along with increasing product adoption in the electronics industry will fuel market growth.
The Europe fluoropolymer films market accounted for more than one-fifth of the global fluoropolymer films demand in 2019. The growing construction industry across emerging economies will support the product demand. Improving economic conditions, investor confidence, and growing investments in transport infrastructure, energy, and housing projects will contribute to the construction industry growth. Commercial production of fluoropolymer films for construction and electrical & electronics applications is positively influencing the industry size
The proliferating healthcare industry, particularly the pharmaceutical sector, owing to the burgeoning middle-class and rapidly aging society will support industry growth. According to the European Federation of Pharmaceutical Industries and Associations (EFPIA), in 2017, Europe accounted for 22.2% of the global pharmaceutical sales compared to North America, accounting for 48.1%. Fluoropolymer films used in pharmaceutical packaging are comparatively expensive to plain fluoropolymer films used in the construction industry. The market for new applications, such as pharmaceutical packaging, is expected to expand at a rapid pace and is currently at the beginning of the product lifecycle.
Fluoropolymer films offer unique mechanical strength at low-temperature, meeting the physical properties and bio-compatible requirements of the pharmaceutical industry. Currently, modified packaging films are used in pharmaceutical cap liners, sterile packaging, etc. Rise in demand for material-intensive packages that offer better convenience and protection compared to conventional film formats will drive the Europe fluoropolymer films market.
Polyvinylidene Fluoride (PVDF) held the largest share in the Europe fluoropolymer films market. Polyvinylidene Fluoride (PVDF) is a highly non-reactive thermoplastic fluoropolymer. Its superior properties have pushed its demand in end-user industries. Fluoropolymers, such as PVDF and FEP, are widely used in the electronics industry. Their increasing popularity is due to increased applications in semiconductor encapsulation, electronic display, dielectric insulation, and wires & cables. Increasing demand for advanced versions of the products will boost the electronics market, further escalating the segment size. Fluctuation in raw material prices along with high production costs will create challenges for industry participants.
Licensing agreements and partnerships are becoming the preferred strategies of industry participants. For instance, in May 2018, Arkema licensed its patented multilayer structure fluorine film technology to SKC Co., Ltd.