APAC is expected to be the fastest-growing market for High Performance Fluoropolymer, owing to the presence of large manufacturing and highly populated countries, such as China and India. China, India, Japan, Indonesia, and South Korea are some of the key countries in the HPF market in this region. In 2018, China accounted for the largest share of the APAC market, owing to the presence of huge chemical, automotive, medical, and electronics industries. The growing production of automobiles, consumer household, medical disposables, and their increasing demand across the region boosts the demand for HPF. Growth in the manufacturing of automobiles and electronics hardware across the region is expected to grow further with changing demographics. Owing to which APAC is projected to be the fastest-growing HPF market.
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The high performance fluoropolymer (HPF) market is projected to grow from USD 3.3 billion in 2019 to USD 4.6 billion by 2024, at a CAGR of 6.9% during the forecast period. The growth of the high performance fluoropolymer industry can be attributed to its high demand from various end-use industry and growing demand from PV installations.
HPF’s are used for the application of films, coatings, liners, and components in a wide range of machinery and equipment for industrial processing end-use industry. In this industry, HPFs are used widely in chemical processing, food production, textile processing, oilfield equipment, and pharmaceutical processing.
HPFs are used majorly for manufacturing pumps & valves, shaft seals, sliding elements, and friction bearings. These products are consumed in large quantities for manufacturing machinery, which is used in chemical processing, oil & gas processing, power plants, water treatment, and food processing, among others.
Most active players in the HPF market:
The Chemours Company (US), Daikin Industries, Ltd. (Japan), 3M (US), Solvay SA (Belgium), AGC (Japan), The Dongyue Group (China), Gujrat Fluorochemicals Ltd. (India), Halopolymer OJSC (Russia), Hubei Everflon polymer (China), and China Reform Culture Holdings Co. Ltd. (China) are a few active players in the HPF market.
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