The global fluorinated ethylene propylene market is estimated to witness a healthy growth, at an estimated CAGR of over 5%, over the forecast period. The major factors driving the growth of the market studied are cost-effective alternative to PTFE in non-stick applications of the food industry, and rising prominence of FEP coatings in the semiconductors of electronic appliances.
- Rising environmental concerns and stringent EPA regulations are likely to hinder the markets growth.
- Increasing demand for FEP coatings in critical fluid transport tubing applications and gaining momentum in the trend of FEP lab-ware are likely to create opportunities for the market in the coming years.
- Asia-Pacific region is expected to dominate the market. North America is also to witness highest CAGR during the forecast period.
Key Market Trends
Increasing Demand for FEP Coatings
- Fluorinated ethylene propylene (FEP) is an excellent insulator, with unique thermal, mechanical, and chemical properties. FEP is the best substitute for Teflon, PTFE, and PFA, owing to its properties and advantages.
- Fluorinated Ethylene Propylene (FEP) non-stick coatings are rapidly replacing the conventional Teflon type non-stick cookware coatings, due to their ability to withstand temperatures up to 500º F, higher wear resistance, and resistance to oxidation.
- Owing to its resistance toward sunlight, fluorinated ethylene propylene (FEP) is used as an insulation material for outdoor electrical wires, as well as jacketing material for optical fiber cables. Additionally, FEP is an excellent semiconductor for manufacturing electrical fittings and appliances.
- FEP coatings are one of the important coating materials in the chemical industry, as they can hold and transport harsh chemicals used in the industrial manufacturing processes.
- The integrated circuits of semiconductors are manufactured using processes, such as photolithography, etching, cleaning, thin film deposition, and polishing. It takes about 270 chemicals and gasses to produce a typical integrated circuit.Many of these chemicals, including nitric acid, hydrochloric and hydrofluoric acid, and ozone, are extremely corrosive.
- Owing to all the aforementioned factors, the market for fluorinated ethylene propylene is likely to grow during the forecast period.
North America Region to Witness the Fastest Growth
- North America region is expected to witness the highest CAGR during the forecast period, owing to the growing demand from the United States.
- In the United States, the shale gas production has been increasing significantly since the past few years. 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 the demand, as it is a cleaner source of energy when compared to crude oil and coal.
- 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.
- FEP is used as a laminate for manufacturing photovoltaic cells, due to its property to withstand sunlight, high temperatures, and transparency. In 2018, the United states generated 67 TWh of solar energy, which is 1.6% of total energy mix. This proportion is projected to be over 2% by 2020.
- All these factors are expected to increase the market for fluorinated ethylene propylene in the region during the forecast period.
The fluorinated ethylene propylene market is partially consolidated in nature. Some of the major players in the market include 3M, Daikin Industries Ltd., Dow, Saint-Gobain Performance Plastics, and Shanghai 3F New Materials Co. Ltd, among others.
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