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

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The global fluoropolymer coating market is expected to showcase growth of around 5% during the forecast period (2021-2027). The increasing demand for high-performance coating solutions across the industry owing to changing consumer preference and improving quality of life is creating market for new coating solutions. Fluoropolymer coating is a type of high-performance coating provides non-stick properties, reduce friction, resistance to corrosion, and has the ability to withstand high temperature environment. Owing to which, a large number of industries are applying fluoropolymer coating on the products in order to increase the life of product and provide a high-grade final product to the consumer. Industries like aerospace and defense, automotive, industrial, food processing, electrical & electronics, and building and construction are among the largest consumer of fluoropolymer coatings. Therefore, growing demand from aforementioned industry demand of fluoropolymer coating would also grow. However, in 2020, demand has witnessed a sharp decline owing to low-industrial production in the light of COVID-19, which eventually impact the dynamics of fluoropolymer coating. For instance, production of automobiles falls by 15.5% in 2020 as compared to 2019.

Insights Presented in the Report

“Amongst type, PTFE held prominent share in the market in 2020.”

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

“Amongst end-user, electrical & electronics is expected to showcase robust growth during forecast period

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 initiatives 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

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“Asia Pacific captured significant position in the Fluoropolymer Coating market”

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

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• The study includes market sizing and forecasting analysis validated by authenticated key industry experts
• The report presents a quick review of overall industry performance at one glance
• The report covers in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
• The study comprehensively covers the market across different segments
• Deep dive country level analysis of the industry

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Research Methodology

Analyzing the historical market, estimation of the current market, and forecasting the future market of the Fluoropolymer Coating three major steps undertaken to create and analyze its adoption across the globe. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the Fluoropolymer Coating industry. Post assumption and validation of market numbers through primary interviews, we employed a bottom-up approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:

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Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the Fluoropolymer Coating through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the Fluoropolymer Coating market, we conducted a detailed secondary analysis to gather current market insights and share for different segments & sub-segments for major regions. Major segment included in the report by base, type, and end-user. Further regional and country-level analyses were conducted to evaluate the overall adoption of the Fluoropolymer Coating globally.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of Fluoropolymer Coating. Further, we conducted factor analysis using dependent and independent variables such as growing end-use industry and increasing demand for high performance coatings. A thorough analysis was conducted for demand and supply-side scenario considering increasing investment, top partnerships, merger and acquisition, business expansion, and product launches in the Fluoropolymer Coating industry.

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Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global Fluoropolymer Coating market, and market shares of each segment. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., bottom-up approach was applied to arrive at the market forecast to 2027 for different segments and subsegments across the major regions globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of value (US$) and the adoption rate of Fluoropolymer Coating across the major markets
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the Fluoropolymer Coating market. Also, the growth strategies adopted by these players to compete in the fast-growing market.

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants by Stakeholders and Regions

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Market Engineering

Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the global Fluoropolymer Coating market. Data was split into several segments & sub-segments post studying various parameters and trends in the area of base, type, and end-user.

The main objective of the Fluoropolymer Coating market study

The current & future market trends of global Fluoropolymer Coating were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends would determine the overall attractiveness of the market at a country level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of Fluoropolymer Coating in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
• Segment in the study include area of base, type, and end-user
• Defined analysis of the regulatory framework for the Fluoropolymer Coating industry
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
• Analyze the current and forecast market size of the Fluoropolymer Coating for the major countries
• Major regions/countries analyzed in the report includes North America (US, Canada, Rest of North America), Europe (Germany, UK, France, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of Asia-Pacific), and Rest of World
• Company profiles of the Fluoropolymer Coating market players and the growth strategies adopted by them to sustain in the growing market

Deep dive country level analysis of the industry