The market for fluorinated ethylene propylene (FEP) coatings is expected to grow at a CAGR of less than 6.2% during the forecast period. Major factors driving the market studied are Cost-effective alternative to PTFE in non-stick applications of the food industry, the rising prominence of FEP coatings in the semiconductors of electronic appliances.
- Emerging applications in the optical fiber industry are likely to act as an opportunity for the market.
- North America dominated the market across the globe with the largest consumption in a country such as The United States, Canada, etc.
Key Market Trends
Electrical & Electronics Segments to Dominate the Market
- FEP coatings are one of the important coatings material in the electrical and Electronics industry as they can hold and transport the harsh chemicals used in the manufacturing process since FEP is an excellent insulator and an ideal option to provide electrical insulation while at the same time conferring chemical resistance when shrunk over wires.
- The integrated circuits of semiconductors are manufactured using processes such as photolithography, etching, cleaning, thin film deposition, and polishing.
- The FEP coatings are well suited for applications in the semiconductor industry where they are used in the manufacture of wafer carriers, tubing, fittings and pump parts which are optimal for transporting high-purity chemicals in semiconductor manufacturing.
- Special grades of FEP coatings are being developed to meet the rigorous demands of the semiconductor industry which is involved in the production of electronic equipment such as personal computers, cellular phones, LCD, plasma and LED displays.
- All the aforementioned factors are likely to increase the demand for the FEP coatings market over the forecast period.
North America Region to Dominate the Market
- North America accounted for the second-largest regional market share for global fluorinated ethylene propylene (FEP) coatings market.
- This immense demand for fluorinated ethylene propylene (FEP) coatings is a consequence of the growing trends of fiber optics, chemical processing, and oil & gas industries in the region.
- In North America, the United States provides the major market for fluorinated ethylene propylene (FEP) coatings with more than 75% of the regional market share.
- The development of shale gas has created a definitive advantage for United states chemical manufacturing.
- 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 demand, as it is a cleaner source of energy when compared to crude oil and coal.
- Furthermore, 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.
- The increasing demand in various other applications too will increase the demand for fluorinated ethylene propylene (FEP) coatings market in the nearby future.
The fluorinated ethylene propylene (FEP) coatings market is partially fragmented. Some of the major players include AGC Inc., DAIKIN INDUSTRIES, Ltd., 3M, AFT Fluorotec Limited, The Chemours Company, etc., among others.
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