Vital trends impacting fluorinated ethylene propylene market worldwide

11:42 AM, 25th January 2021
Higher installation of electrical cables & wires as a result of rapid urbanization and development of construction sector will enhance the fluorinated ethylene propylene market.

Higher installation of electrical cables & wires as a result of rapid urbanization and developments in the construction sector will enhance the forecast of fluorinated ethylene propylene (FEP) market through the coming years. There is a continuous requirement to upgrade the existing power infrastructure as well as distribution and transmission networks with the initiation of several government programs.

These factors are likely to push the demand for fluorinated ethylene propylene wires in electrical and electronics applications as they exhibit a longer lifespan, high breakdown voltage as well as mechanical strength. Expansion in the production of motor vehicles and the surge in renewable power generation has also accelerated the usage of these copolymers.

Reports suggest that the global fluorinated ethylene propylene market size will be worth more than $1.2 billion in annual revenue by 2025.

Use in aerospace sector

Demand for fluorinated ethylene propylene granules contributed to more than $120 million of global revenue share in 2018 due to extended use in the production of sheets, tubes, and rods. The granules find application in the manufacturing of brake line tubing and coolant circulation across premium SUVs and pickup vehicles.

Besides, consumer preference for air travel as well as the spike in military expenditure on A-grade electronics will drive the adoption of FEP coatings in the aerospace sector for superior hoses, cryogenic seals, guide bushes and seats.

Potential in chemical processing

Application of FEP powder in chemical processing activities to render chemical resistance, nonstick features, and lowered coefficient of friction is anticipated to register a CAGR of more than 6.5 percent through 2025. This can be attributed to the rise in R&D investments, deployment of nanotechnology, and the preference for advanced resources in the automotive sector.

Adoption of construction materials like sealants, coatings & cement, and chemicals in the oil & gas sector has stirred the adoption of this powdered copolymer in vessel liners, fluid handling systems, gaskets, tubing and valves.

Key markets across North America

North America is a leading producer of FEP products and the share of FEP films market this region is expected to reach an annual value of $165 million through the coming years. There is a surge in consumer awareness towards the availability of renewable energy sources owing to environmental concerns and the incessant need for power across the continent. This has led to the higher adoption of fluorinated ethylene propylene films in solar cells considering properties like its minimum weight, longer life-time, UV resistance, and weathering performance.

The formulation of government initiatives to restrict greenhouse gas emissions, provision of subsidies for photovoltaic installations as well as the prevalence of self-sufficiency will boost the regional consumption of the product.

Fluorinated ethylene propylene suppliers are coming up with novel product launches as well as marketing strategies to strengthen their market and customer base besides expanding their offerings across various verticals to gain a competitive edge. The COVID-19 pandemic imposed a challenge to multiple industries like automobiles, electronics among many others in the initial days of the lockdown, resulting in a stalled demand.

However, the FEP copolymers witnessed considerable adoption across the healthcare sector. For instance, Adtech Polymer Engineering, a leading provider of fluoroplastic solutions, in April 2020, catered to a bulk demand for FEP tubing and UVC lamp coatings that are used in UVC sterilization devices to render medical safety to patients affected by the coronavirus virus.

Get detailed analysis on the fluorinated ethylene propylene market: https://www.gminsights.com/request-sample/detail/3263

Contact Info:

Arun Hegde
Corporate Sales USA
Global Market Insights Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Website: https://www.gminsights.com

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