Key Market Insights
"Increasing application in pharmaceutical will spur the market revenue growth"
The global polychlorotrifluoroethylene market accounted for US$ 520.4 Mn in 2018 and is anticipated to grow to US$ 719.4 Mn expanding at a CAGR of 4.2% during the forecast period from 2019 to 2027.
The increasing penetration of PCTFE products in various end-use industries including aerospace, and electrical & electronics among others for manufacturing of plugs, valve seats, and diaphragms among others are proliferating the demand of global polychlorotrifluoroethylene market. The condescending qualities offered by polychlorotrifluoroethylene against its counterparts such as moisture resistance, heat resistance and moisture protection among others are further boosting the market demand. The resins found in polychlorotrifluoroethylene are gaining huge importance in drug manufacturing thereby proliferating the growth of the market.
Additionally, growing demand for polychlorotrifluoroethylene in industrial applications such as the manufacturing of process equipments, chemical equipments, cryogenic applications, valve seats, and medical devices among others is having a positive influence on the growth of the market. Apart from this the demand for PCTFE is significantly growing in the refrigeration industry coupled with rise in usage of PCTFE in cryogenic applications such as handling of liquid oxygen and liquid nitrogen are factors further bolstering the demand for polychlorotrifluoroethylene market.
Market Synopsis
Application Analysis
"Films segment to dominate the market during the forecast period"
Based on application, the polychlorotrifluoroethylene market is classified into films, wires & tubes and coatings. Films segment is expected to dominate the global polychlorotrifluoroethylene market in terms revenue. This can be attributed with the rising demand of PCTFE films on account of increasing application in various end-use industries such as pharmaceutical, and manufacturing which is propelling the demand of the market.
In contrast, coatings segment is expected to be the fastest growing during the forecast period. This can be associated with the superior properties of the product including corrosion resistance, weather resistance and heat resistance among others which in turn is boosting the demand of the market.
Regional Analysis
"Availability of cheap raw material and labor to bolster the growth in Asia Pacific region"
In 2018, Asia Pacific region accounted for the major share of the polychlorotrifluoroethylene market. This can be attributed with rapidly growing industries such as pharmaceutical, aerospace, and electronics among others. China was the largest market in the Asia Pacific region accounting for more than 40% market share. Owing to the country being the leading manufacturer of pharmaceutical product and medicines. For instance, in 2018, according to a recent report, China has a market share 30% in the global pharmaceutical market.
In contrast, North America region held a significant share in the polychlorotrifluoroethylene market. The US held the major share in the North America region and contributed around 80% of the market revenue. This can be associated with rapidly expanding aerospace and pharmaceutical industries and increased research and development activities across the region. For instance, according to Aerospace Industries Association, the spending on research and development rose from 16.6 Bn in in 2017 to 17.0 Bn in 2018.
List of Companies Covered:
- Daikin
- Honeywell
- DuPont
- Arkema
- Solvay
- Akzonobel
- 3M.
- SABIC
- Fluorocarbon Company Ltd
- Lima Srl
Key Industry Development:
- In August 2017, Daikin Industries Ltd. announced the acquisition of Heroflon S.p.A. an Italian fluoropolymer compound manufacturer. Through this acquisition Daikin Industries Ltd. has fully entered the compound business and will utilize its global network to further penetrate in the compounds market.
Historical & Forecast Period
This study report represents analysis for each segment from 2017 to 2027 considering 2018 to be the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period from 2019 to 2027.
Market Segmentation
| ATTRIBUTE |
DETAILS |
| Research Period |
2017-2027 |
| Base Year |
2018 |
| Forecast Period |
2019-2027 |
| Historical Year |
2017 |
| Unit |
USD Million |
| Segmentation |
Application Segment (2017–2027; US$ Mn)
• Films
• Wires & Tubes
• Coatings
|
|
End-use (2017–2027; US$ Mn)
• Pharmaceutical
• Electrical & Electronics
• Aerospace
• Others
|
|
Geography Segment (2017–2027; US$ Mn)
• North America (U.S., Rest of North America)
• Europe (U.K., Germany, Russia, Rest of Europe)
• Asia Pacific (Japan, China, India, Rest of Asia Pacific)
• Rest of the World (Middle East & Africa, Latin America)
|
The current report also comprehends qualitative and qualitative market valuation factors such as key market drivers, market trends, restraints and opportunities that gives a better market understanding of the overall polychlorotrifluoroethylene market. Additionally, the global report also comprises graphical representation of competitive landscape based on their market initiatives and strategies, product portfolio and business strengths.
Key questions answered in this report
- What are the current market trends and dynamics in the polychlorotrifluoroethylene market and valuable opportunities for emerging players?
- Estimated forecast and market projections up to 2027
- Which segment accounts for the fastest CAGR during the forecast period?
- Which product type segment holds a larger market share and why?
- Are low and middle-income economies investing in the polychlorotrifluoroethylene market?
- Which is largest regional market for polychlorotrifluoroethylene?
- What is the market trend and dynamics in emerging markets such as Asia Pacific, Latin America and Middle East & Africa?
- Worldwide market value of the polychlorotrifluoroethylene market in 2017 and 2018
- Which are the key trends driving the global polychlorotrifluoroethylene market growth?
- Who are the leading service providers in the polychlorotrifluoroethylene market worldwide?
