Rapid urbanization and rise in building infrastructure should accelerate fluorinated ethylene propylene market growth owing to increasing demand for electrical cables and wires. There is a significant rise in government initiatives to expand existing power distribution & transmission network which increases suitability of fluorinated ethylene propylene wires pertaining to their longer life, greater breakdown voltage and mechanical strength. Significant need for upgradation of existing power infrastructure, booming motor vehicle production and growth of renewable power generation should further stimulate FEP market growth from electrical & electronics applications.
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Global fluorinated ethylene propylene granules market was valued at about USD 120 million in 2018 pertaining to growing adoption in the manufacture of sheets, tubes and rods. There is rising demand for premium SUVs and pickup vehicles where the product finds extensive usage in coolant circulation and brake line tubing manufacture. Growing demand for passenger air travel and upsurge in military expenditure is likely to boost fluorinated ethylene propylene adoption in high-performance hoses, cryogenic seals, guide bushes and seats in aerospace industry.
Global fluorinated ethylene propylene powder market from chemical processing applications should register over 6.5% gains by 2025 on account of its desirable chemical resistance, nonstick property and low coefficient of friction. There is a rising demand for construction chemicals such as sealants, coatings & cement and chemicals required by oil & gas industry which has stimulated product adoption in vessel liners, gaskets, fluid handling systems, tubing and valves. Growing research & development investment, rising adoption of nanotechnology and demand for advanced material from automotive industry should further increase FEP powder market growth from chemical processing applications.
North America FEP film market is likely to surpass USD 165 million by the end of the predicted period. The region is witnessing growing energy requirements, rise in consumer awareness of renewable energy sources and environmental concerns which has boosted its adoption in solar cells owing to its long life, low weight, UV resistance and weathering performance. Rising government initiatives to curb greenhouse gas emissions, subsidies for photovoltaic installations and increasing demand for self-sufficiency should further accelerate market growth.
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Global fluorinated ethylene propylene market share is significantly competitive and includes various market participants such as Daikin Industries, DowDuPont, Saint-Gobain, 3M and Merck Millipore. Various manufacturers are launching new products to expand their product portfolio and attract new customers, which should boost market growth.