Fluoropolymer Films Global Market Report 2024

The fluoropolymer films market size has grown strongly in recent years. It will grow from $2.35 billion in 2023 to $2.52 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The expansion in the historical period can be attributed to the stability at high temperatures, growth in electronics manufacturing, the expansion of the chemical processing industry, increased applications in medical and pharmaceutical sectors, and heightened demand in the automotive sector.

The fluoropolymer films market size is expected to see strong growth in the next few years. It will grow to $3.3 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. Anticipated growth during the forecast period can be ascribed to the rising demand for PTFE films, the expansion of the renewable energy sector, emerging applications in fuel cells, a growing presence in food packaging, and increased adoption in semiconductors. Prominent trends expected in this forecast period encompass a focus on high-performance films, an emphasis on thin film technology, the evolution of fluoropolymer composite films, the customization of specialty films, and the global expansion of production facilities.

The fluoropolymer films market is poised to benefit from the expanding construction sector. Inclusive of activities such as planning, designing, and constructing buildings and infrastructure, the construction industry employs fluoropolymer films for architectural purposes. These films are utilized decoratively in facades, wall cladding, and roofing systems, enhancing aesthetic appeal. As of September 2021, a report by Oxford Economics revealed that construction spending constituted 13% of global GDP in 2020. Additionally, it projected a 42% increase, equivalent to US$4.5 trillion, in global construction output from US$10.7 trillion in 2020 to US$15.2 trillion by 2030. Consequently, the burgeoning construction sector is expected to be a driving force for the fluoropolymer films market.

The fluoropolymer films market is anticipated to witness growth due to the rising demand for chemicals. Chemicals, characterized by distinct molecular compositions produced through various chemical processes, play a crucial role in the manufacturing of fluoropolymer films. These films, exemplified by exceptional chemical resistance, high thermal stability, and low friction properties, utilize various chemicals, particularly fluoropolymers such as polytetrafluoroethylene (PTFE). As of December 2022, data from the American Chemical Council indicated a 3.9% growth in U.S. chemical producers in 2022. Thus, the increasing demand for chemicals is expected to be a key driver for the fluoropolymer films market.

Technological advancements emerge as a prominent trend in the fluoropolymer films market. Key companies operating in this market are dedicated to introducing new technological innovations to address specific requirements and maintain their competitive positions. For instance, in April 2023, Daetwyler Holding, a Switzerland-based industrial machinery manufacturing company, introduced the UltraShield fluoropolymer film coating technology along with film and spray fluoropolymer coating methods for elastomeric closures used in injectable medications. UltraShield is designed with chemical and functional properties tailored for the secure storage of pharmaceuticals at ultra-low temperatures, down to -80°C. It is also compatible with existing solvent-based pharmacological excipients. Manufactured under Daetwyler's FirstLine philosophy, UltraShield incorporates advanced clean room technology, automated production cells, comprehensive automatic camera inspection, and a unique washing process.

Major companies are strategically engaging in partnerships and collaborations with startups and mid-sized firms in the fluoropolymer films market to enhance their product and service offerings. Such strategic collaborations and partnership agreements enable companies to expand their existing product portfolios and geographical reach. For example, in November 2022, Solvay S.A, a Belgium-based chemicals company, and Orbia, a Mexico-based chemical manufacturing company, announced a partnership through a joint venture framework agreement to produce suspension-grade polyvinylidene fluoride (PVDF) with an investment of US$ 850 Million. This joint venture between Solvay and Orbia aims to address a significant supply gap and leverage favorable regulatory conditions that promote regional production and material security.

In September 2022, Pexco LLC, a US-based manufacturer of specialty plastics, acquired Enflo LLC for an undisclosed amount. Through this acquisition, Pexco can leverage high-performance polymer capabilities and expand its presence in the market. Enflo LLC, a US-based plastics manufacturing company, offers a diverse range of polytetrafluoroethylene (PTFE) products in various shapes, including molded cylinders or tubes and sheets.

Major companies operating in the fluoropolymer films market report are Saint-Gobain Performance Plastics Corporation, Parker Hannifin Manufacturing Ltd., Honeywell International Inc., 3M Company, Daikin Industries Ltd., Solvay SA, Asahi Glass Co. Ltd., DuPont de Nemours Inc., Arkema S.A., Kureha Corporation, Zeus Industrial Products Inc., The Chemours Company, Professional Plastics Inc., Guarniflon S.p.A., Dunmore Corp., Fluortek AB, Layfield Group Ltd., RMB Products Inc., AFT Fluorotec Ltd., Porex Technologies Ltd., The Chemguard Inc., AGC Chemicals Americas Inc., Whitford Ltd., Enflo LLC, Chukoh Chemical Industries Ltd., Neptech Inc., Polyflon Technology Ltd., American Durafilm Co Inc., Fluoro-Plastics Inc.

Asia-Pacific was the largest region in the fluoropolymer films market in 2023. North America is expected to be the rapidly growing region in the forecast period. The regions covered in the fluoropolymer films market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the fluoropolymer films market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary types of fluoropolymer films include PTFE (polytetrafluoroethylene), PVDF (poly-vinylidene fluoride), FEP (fluorinated ethylene-propylene), ETFE (poly-ethylene-tetra-fluoro-ethylene), PCTFE (polychloro-tri-fluoro-ethylene), PVF (polyvinyl-fluoride), and others. PTFE, characterized by its non-reactive white, waxy solid form with an exceptionally low friction coefficient, finds utility in diverse applications such as barrier films, decorative films, microporous films, safety and security films, among others. These applications span across various industries, including automotive, construction, electrical and electronics, packaging, personal care, and more.

The fluoropolymer films market research report is one of a series of new reports that provides fluoropolymer films market statistics, including fluoropolymer films industry global market size, regional shares, competitors with a fluoropolymer films market share, detailed fluoropolymer films market segments, market trends and opportunities, and any further data you may need to thrive in the fluoropolymer films industry. This fluoropolymer films market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The fluoropolymer films market consists of sales of fluoropolymer sheets, polyimide composite bonding film, and high-performance fluoropolymer film. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.