Market Trends of Fluorinated Ethylene Propylene (FEP) Industry
This section covers the major market trends shaping the Fluorinated Ethylene Propylene Market according to our research experts:
Increasing Demand for FEP Coatings
- Fluorinated ethylene propylene (FEP) is an excellent insulator, with unique thermal, mechanical, and chemical properties. FEP is the best substitute for Teflon, PTFE, and PFA, owing to its properties and advantages.
- Fluorinated Ethylene Propylene (FEP) non-stick coatings are rapidly replacing the conventional Teflon type non-stick cookware coatings, due to their ability to withstand temperatures up to 500º F, higher wear resistance, and resistance to oxidation.
- Owing to its resistance toward sunlight, fluorinated ethylene propylene (FEP) is used as an insulation material for outdoor electrical wires, as well as jacketing material for optical fiber cables. Additionally, FEP is an excellent semiconductor for manufacturing electrical fittings and appliances.
- FEP coatings are one of the important coating materials in the chemical industry, as they can hold and transport harsh chemicals used in the industrial manufacturing processes.
- The integrated circuits of semiconductors are manufactured using processes, such as photolithography, etching, cleaning, thin film deposition, and polishing. It takes about 270 chemicals and gasses to produce a typical integrated circuit.Many of these chemicals, including nitric acid, hydrochloric and hydrofluoric acid, and ozone, are extremely corrosive.
- Owing to all the aforementioned factors, the market for fluorinated ethylene propylene is likely to grow during the forecast period.
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North America Region to Witness the Fastest Growth
- North America region is expected to witness the highest CAGR during the forecast period, owing to the growing demand from the United States.
- In the United States, the shale gas production has been increasing significantly since the past few years. As per the forecast provided by EIA, in the country, the production volume of shale gas is projected to be 23,212 billion cubic feet by 2020, primarily due to an increase in the demand for natural gas across the world. Natural gas is witnessing a significant increase in the demand, as it is a cleaner source of energy when compared to crude oil and coal.
- The healthcare sector is the primary employer in the country. FEP has a unique application in this sector, where it is essentially used for manufacturing quick release (non-stick) operating instruments and appliances.
- FEP is used as a laminate for manufacturing photovoltaic cells, due to its property to withstand sunlight, high temperatures, and transparency. In 2018, the United states generated 67 TWh of solar energy, which is 1.6% of total energy mix. This proportion is projected to be over 2% by 2020.
- All these factors are expected to increase the market for fluorinated ethylene propylene in the region during the forecast period.
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