Fluoropolymer Coatings Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | < 5.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Fluoropolymer Coatings Market Analysis
The fluoropolymer coatings market is expected to witness moderate growth, at an estimated CAGR of around 5%, over the forecast period.One of the major factors driving the growth of the market studied is the growing manufacturing sector in Asia-Pacific, increased usage of high-performance coatings, due to cost benefits and longer lifespan, and the increasing application sector, especially the renewable energy sector (wind energy and solar power).
- High costs of some of the fluoropolymer resins are expected to slightly hinder the market growth.
- By application, the industrial segment was estimated to hold the largest share forthe market studied, and is expected to increase throughout the forecast period.
- Asia-Pacific dominated the market studied and is expected to witness the highest CAGR during the forecast period.
Fluoropolymer Coatings Market Trends
This section covers the major market trends shaping the Fluoropolymer Coatings Market according to our research experts:
Industrial Sector - A Huge Market Potential
- Fluoropolymer coatings for industrial applications are applied on various derivatives, like concrete, carbon steel, stainless steel, steel alloys, brass, zinc, magnesium, and other metals, as well as non-metallic, such as glass, ceramics, elastomers, rubber, plastics, paper, or wood, in order to offer protection against mechanical, chemical, and environmental degradation. It is designed to be both aesthetic, as well as protective.
- The list of uses of fluoropolymer coatings serve is nearly endless. The main reason for applying a coating is to protect the part that isunderneath it, especially from various types of corrosion. Fluoropolymer coatings are one of the most durable types of non-stick coatings. The most common use of industrial coatings is to prevent concrete or steel from corroding. Another common use is to make these materials more resistant to fire or other chemicals.
- The oil and gas industry is a major sub-segment of industrial application, which is a major consumer of fluoropolymer coatings. Oil and gas exploration and recovery demand the harshest of all applications for polymeric materials. The temperature and pressures, the presence of corrosive chemicals, and the operational life expected of such materials require the use ofonly premium, high-performance grades. Fluoropolymer coating has the property of withstanding extremely low and high temperature, and providing reduced torque and galling levels, even after long-term exposure to corrosion. Fasteners, valves, and subsea connectors used in oil and gas equipment benefit from low friction, good load bearing, and anti-corrosion properties of fluoropolymer coatings.
- All the aforementioned factors, in turn, are expected to increase the demand for fluoropolymer coatings during the forecast period.
Asia-Pacific to Witness Strong Demand
- Asia-Pacific is estimated to witness tremendous growth, over the assessment period, in the fluoropolymers market, due to the wide usage of fluoropolymer coatings in numerous end-use application segments. Asia-Pacific is the biggest market, followed by Europe and North America.
- China’s 13th five-year plan outlined urbanization focused on investments in airports, railways, and water infrastructure, which is likely to drive the need for fluoropolymer-based coatings. Currently, the steadily growing number of housing stats in China is giving coating manufacturers a boost.
- Moreover, China is a cost-sensitive market. As fluoropolymer coatings provide a lifespan of more than 30 years, cutting down the cost of recoats and maintenance, there is a positive growth opportunity for the product.
- China is one of the world’s largest automotive and auto component manufacturing bases. The Government of China views its automotive industry, including the auto parts sector, as one of the country’s pillar industries running the national economy. Other than being a manufacturing hub, China continues to be the world’s largest vehicle market.
- Fluoropolymer coatings, with its high weatherability and high gloss finishes, are estimated to have an increased demand from the automotive industry.
- High demand for premier cars and consumers’ rising purchasing power is likely to drive the demand for fluoropolymer coatings from this segment.
Fluoropolymer Coatings Industry Overview
Fluoropolymer Coatings Market Leaders
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PPG Industries Inc.
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Akzo Nobel N.V.
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The Sherwin-Williams Company
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DAIKIN INDUSTRIES, Ltd.
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The Chemours Company
*Disclaimer: Major Players sorted in no particular order
Fluoropolymer Coatings Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Deliverables
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1.2 Study Assumptions
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1.3 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Drivers
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4.1.1 Increasing Usage of High-performance Coatings
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4.1.2 Demand from the Growing Wind Energy Sector
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4.1.3 Other Drivers
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4.2 Restraints
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4.2.1 Competition from Low-priced Protective Coatings Available in the Industry
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4.2.2 Strict Environmental Policies and Regulations
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4.3 Industry Value Chain Analysis
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4.4 Porter's Five Forces Analysis
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4.4.1 Bargaining Power of Suppliers
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4.4.2 Bargaining Power of Consumers
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4.4.3 Threat of New Entrants
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4.4.4 Threat of Substitute Products and Services
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4.4.5 Degree of Competition
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5. MARKET SEGMENTATION
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5.1 Resin Type
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5.1.1 Polytetrafluoroethylene (PTFE)
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5.1.2 Polyvinylidene Fluoride (PVDF)
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5.1.3 Fluorinated Ethylene Propylene (FEP)
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5.1.4 Ethylene Tetrafluoroethylene (ETFE)
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5.1.5 Perfluoroalkoxy Alkanes (PFA)
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5.1.6 Polyvinyl Fluoride (PVF)
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5.1.7 Other Resin Types
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5.2 Application
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5.2.1 Industrial
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5.2.2 Building and Construction
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5.2.3 Automotive
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5.2.4 Food Processing
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5.2.5 Aviation and Aerospace
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5.2.6 Electrical
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5.2.7 Cookware
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5.2.8 Other Applications
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5.3 Geography
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5.3.1 Asia-Pacific
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5.3.1.1 China
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5.3.1.2 India
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5.3.1.3 Japan
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5.3.1.4 South Korea
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5.3.1.5 Australia
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5.3.1.6 Rest of Asia-Pacific
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5.3.2 North America
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5.3.2.1 United States
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5.3.2.2 Canada
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5.3.2.3 Mexico
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5.3.3 Europe
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5.3.3.1 Germany
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5.3.3.2 United Kingdom
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5.3.3.3 The Netherlands
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5.3.3.4 Italy
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5.3.3.5 France
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5.3.3.6 Spain
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5.3.3.7 Rest of Europe
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5.3.4 South America
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5.3.4.1 Brazil
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5.3.4.2 Argentina
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5.3.4.3 Rest of South America
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5.3.5 Middle East & Africa
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5.3.5.1 Saudi Arabia
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5.3.5.2 United Arab Emirates
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5.3.5.3 Rest of Middle East & Africa
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6. COMPETITIVE LANDSCAPE
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6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
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6.2 Market Share Analysis**
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6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
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6.4.1 Akzo Nobel N.V.
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6.4.2 DAIKIN INDUSTRIES, Ltd.
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6.4.3 PPG Industries Inc.
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6.4.4 Praxair S.T. Technology, Inc.
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6.4.5 Tnemec
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6.4.6 Axalta Coating Systems, LLC
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6.4.7 Walter Wurdack Inc.
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6.4.8 The Chemours Company
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6.4.9 The Sherwin-Williams Company
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6.4.10 Kansai Nerolac Paints Limited
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6.4.11 KCC CORPORATION
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Fluoropolymer Coatings Industry Segmentation
The fluoropolymer coatings market report includes:
| Resin Type | |
| Polytetrafluoroethylene (PTFE) | |
| Polyvinylidene Fluoride (PVDF) | |
| Fluorinated Ethylene Propylene (FEP) | |
| Ethylene Tetrafluoroethylene (ETFE) | |
| Perfluoroalkoxy Alkanes (PFA) | |
| Polyvinyl Fluoride (PVF) | |
| Other Resin Types |
| Application | |
| Industrial | |
| Building and Construction | |
| Automotive | |
| Food Processing | |
| Aviation and Aerospace | |
| Electrical | |
| Cookware | |
| Other Applications |
| Geography | |||||||||
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Fluoropolymer Coatings Market Research FAQs
What is the current Fluoropolymer Coatings Market size?
The Fluoropolymer Coatings Market is projected to register a CAGR of less than 5% during the forecast period (2024-2029)
Who are the key players in Fluoropolymer Coatings Market?
PPG Industries Inc., Akzo Nobel N.V., The Sherwin-Williams Company, DAIKIN INDUSTRIES, Ltd. and The Chemours Company are the major companies operating in the Fluoropolymer Coatings Market.
Which is the fastest growing region in Fluoropolymer Coatings Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Fluoropolymer Coatings Market?
In 2024, the Asia Pacific accounts for the largest market share in Fluoropolymer Coatings Market.
What years does this Fluoropolymer Coatings Market cover?
The report covers the Fluoropolymer Coatings Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Fluoropolymer Coatings Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Fluoropolymer Coatings Industry Report
Statistics for the 2024 Fluoropolymer Coatings market share, size and revenue growth rate, created by Mordor Intelligenceā¢ Industry Reports. Fluoropolymer Coatings analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
