Perfluoroalkoxy Market - Forecast(2023 - 2028)

Report Code: CMR 59451 Report Format: PDF + Excel

Perfluoroalkoxy Market Overview

Perfluoroalkoxy Market size is expected to be valued at US$265.2 million by the end of the year 2026 and is set to grow at a CAGR of 4.2% during the forecast period from 2021-2026. The perfluoroalkoxy market is growing due to the increase in demand from the chemical processing industry, as perfluoroalkoxy contains hexafluoropropylene, which has excellent thermal resistance and is also highly resistant to mechanical shocks. Perfluoroalkoxy is also made of fluoro polymer, which is used for plastic lab equipment due to its extreme resistance to chemical attack, optical transparency, and flexibility and is also used in tubing for handling highly corrosive fluids and sheet linings, which is one of the significant factors driving the perfluoroalkoxy market.

COVID-19 impact

The Covid-19 pandemic has led to the slowdown of perfluoroalkoxy market in terms of production and supply chain. The marketing channels of perfluoroalkoxy companies were disrupted leading to blockage of inventories and also the slowdown in the operation and distribution channels pulled down the perfluoroalkoxy market in a huge way resulting in various losses. This has affected the perfluoroalkoxy market top 10 companies in many aspects like over piling of stocks, reduction in production capacity and disruption in supply chain activities, eventually leading to losses.

Perfluoroalkoxy Market Report Coverage

The report: “Perfluoroalkoxy Market – Forecast (2021-2026)”, by IndustryARC, covers an in-depth analysis of the following segments of the Perfluoroalkoxy Industry.

By Product Type: Granules, Pellets, Powder, and Aqueous Dispersion.
By Application: Tubes, Linings, Transfer Molded Articles, Semi-Conductor Components, Wire & Cable Insulation, Hoses, Coatings, Woven Packing, and Others.
By End-User Industry: Aerospace & Defense, Automotive & Transportation, Energy & Power, Chemical & Petrochemical, Electrical & Electronics, Pharma/Medical, Machinery & Equipment, and Others.
By Geography:  North America (U.S, Canada, Mexico), Europe (Germany, UK, France, Italy, France, Netherlands, Belgium Spain, Russia and Rest of Europe), APAC (China, Japan India, South Korea, Australia, New Zealand, Indonesia, Taiwan, Malaysia), South America (Brazil, Argentina, Colombia, Chile and Rest of South America) and RoW (Middle East and Africa).

Key Takeaways

  • The Middle East region is projected to witness a significant growth during the forecast period in the perfluoroalkoxy market owing to the growth in the building and construction sector, which is further fuelling the need for wires & cables and coatings.
  • The increase in the use of hexafluoropropylene processed perfluoroalkoxy in chemical processing industry is one of the main factors driving the perfluoroalkoxy market.
  • The rise in the research activities that require the use of lab equipment and applications like tubing is also driving the perfluoroalkoxy industry.
  • The covid-19 pandemic has affected the perfluoroalkoxy industry in adverse ways disrupting the production and supply chain activities of the market, leading to the slowdown in the growth of the perfluoroalkoxy market.

FIGURE: Perfluoroalkoxy Market Revenue, 2020-2026 (US$Million)

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Perfluoroalkoxy Market Segment Analysis - By Product Type

The pellets segment held the largest share of more than 25% in the perfluoroalkoxy market in the year 2020. Pellet have excellent dielectric properties, which is used in semi-conductor applications, making it a preferred type of perfluoroalkoxy in the electronics and electrical industry. The semiconductor industry is hugely dependent on perfluoroalkoxy, since it is the only material that can hold and transport harsh chemicals and resist extreme heat and temperature. Perfluoroalkoxy is also a corrosive resistant chemical substance, which makes it a preferred chemical compound in the manufacturing and other industries. The Semi-conductor Industry Association (SIA) announced the global revenue of  US $ 439 billion in the year 2020, which drives the demand for pellets in the perfluoroalkoxy industry.

Perfluoroalkoxy Market Segment Analysis - By Application

Tubes segment held the largest share of more than 30% in the perfluoroalkoxy market in the year 2020. Perfluoroalkoxy is extensively used in the tubing apparatus and other applications of the research industry to handle highly volatile and corrosive chemicals, due to its properties like resistance to chemicals and mechanical shocks. Perfluoroalkoxy offers excellent crack and stress resistance, making it the most used chemical compound in the manufacture of tubes and other lab applications. Perfluoroalkoxy is the best choice when it comes to resistance involving high chemical resistance combined with high temperature exposure. This further fuels the growth of perfluoroalkoxy market.

Perfluoroalkoxy Market Segment Analysis - By End-User Industry

Chemical and Petro-Chemical industry held the largest share of more than 25% in the perfluoroalkoxy market in the year 2020. Perfluoroalkoxy is extensively used in the chemical processing industry for various applications like heat exchanger tubing, lining & trace heating cables, and convoluted tubing, which is driving the demand for perfluoroalkoxy in the chemical processing industry. Perfluoroalkoxy is highly resistant to crack and breakage which is very useful in the chemical industry as they require to handle and use chemicals in tubes and other apparatus often. Perfluoroalkoxy is also used in the manufacture of petrochemicals such as propylene, ethylene, and toluene, which is one of the major factors driving the perfluoroalkoxy in the petrochemical industry.

Perfluoroalkoxy Market Segment Analysis – By Geography

Asia-Pacific region held the largest share of more than 35% in the perfluoroalkoxy market in the year 2020. The increase in the building and construction industry in countries like China, India, and Japan drives market growth as it is used for the piping and fittings in the buildings, mostly for its anti-corrosion and chemical resistant linings in the pipes and carriages. According to Invest India, the construction industry in India is estimated to reach US $ 738.5 billion by the year 2022. As per the data provided by Invest India, the construction sector of India grew by 5.6% between the year 2016 and the year 2020. The estimated construction projects as of March 2021, there is a total of 924 government projects and 21 private projects in the construction sector in India. The increasing number of activities in the construction sector will further drive the need and demand for perfluoroalkoxy market in the APAC region.

Perfluoroalkoxy Market Segment Analysis Drivers

·         The increase in demand from chemical processing industry

The increase in demand from chemical processing industry for perfluoroalkoxy, due to its superior properties like excellent thermal-resistance, resistance to mechanical shocks are driving the perfluoroalkoxy market growth. Perfluoroalkoxy is effective against harshness of chemicals, which makes it a preferred product in the research field for usage in their lab equipment and applications. For instance, on December 22, 2020, a project on Fluorochemicals was announced in Dahej, Gujarat, India for a cost of $ 1950 million. Investments and projects like these are some of the significant factors contributing to the growth of the perfluoroalkoxy market.

 

·         The growth in automobile sector

The growth in automobile sector is increasing the need and demand for fuel hose and other components, which is further fuelling the demand for perfluoroalkoxy market. Fluoropolymers are extensively used in the fuel hose and other components for protection in thermal and chemical resistance. It is also used in vehicle electrical systems for cabling and wiring insulation. Thus, the growth in the electrical vehicle sales volume that is increased to 2 million in the year 2019 also contributes to the market growth. The increase in the use of such engines and vehicles are driving the need and demand for perfluoroalkoxy in the automobile industry.

Perfluoroalkoxy Market Segment Analysis Challenges

·         High competition from substitutes like Polytetrafluoroethylene (PTFE)

The presence of close substitutes such as Polytetrafluoroethylene (PTFE), a fluoro polymer that has high quality properties such as low coefficient of friction and higher resistance to heat and chemicals which is mainly used for tubing applications. Polytetrafluoroethylene (PTFE) is extensively used in containers and pipes for handling reactive and corrosive chemicals. It helps to reduce friction and minimize the wear and tear that helps in improving energy consumption. Whereas perfluoroalkoxy is used as sheet linings for chemical equipment. These additional features and properties of polytetrafluoroethylene (PTFE) makes it a close and easy substitute to perfluoroalkoxy, and is one of the biggest challenges to the Perfluoroalkoxy market.  For instance, the US industry revenue of polytetrafluoroethylene (PTFE) wasUS $ 1.3 billion in the year 2019.

Perfluoroalkoxy Industry Outlook

New product launches, investments, collaborations, acquisitions and mergers, and expansions are some of the key strategies adopted by players in the Perfluoroalkoxy Market. Major players in the Perfluoroalkoxy Market include:

  1. AMETEK Inc.
  2. Saint Gobain Performance Plastics
  3. Li Chang Technology (Ganzhou) Co. Ltd.
  4. Holscot Fluoroplastics
  5. Alpha Chemical Ltd.
  6. 3M
  7. Zeus Industrial Products Inc.
  8. Alfa Chemicals Ltd.
  9. Daikin Industries Ltd.
  10. Hubei Everflon Polymer CO LTD.
  11. Solvay SA
  12. AGC Chemicals Europe Ltd.
  13. HaloPolymer OJSC
  14. Polyfluor Plastics BV
  15. The Chemours Company among others.

Acquisitions/Technology Launches

  • On December 21, 2020 Brenntag acquired Alpha Chemical Ltd., a leading chemical industry company based in Canada, specialising in key industries including oil & gas, mining, water treatment, fluoro polymers etc., .
  • On January 24, 2019, AGC Chemical Europe Ltd acquired Malgrat Pharma Chemicals S.L.U, in Spain, which specialises in synthetic pharmaceutical ingredients for pharma/medical products.

 

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1. Perfluoroalkoxy Market - Market Overview
    1.1 Definitions and Scope
2. Perfluoroalkoxy Market - Executive Summary
    2.1 Market Revenue, Market Size and Key Trends by Company
    2.2 Key trends by Product Type
    2.3 Key trends by Application
    2.4 Key trends by End-Use Industry
    2.5 Key trends by Geography
3. Perfluoroalkoxy Market – Comparative analysis
    3.1 Market Share Analysis- Major Companies
    3.2 Product Benchmarking- Major Companies
    3.3 Top 5 Financials Analysis
    3.4 Patent Analysis- Major Companies
    3.5 Pricing Analysis (ASPs will be provided)
4. Perfluoroalkoxy Market - Startup companies Scenario Premium Premium
    4.1 Top startup company Analysis by
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Market Shares
        4.1.4 Market Size and Application Analysis
        4.1.5 Venture Capital and Funding Scenario
5. Perfluoroalkoxy Market – Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Successful Venture Profiles
    5.4 Customer Analysis – Major companies
6. Perfluoroalkoxy Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Market Opportunities
    6.4 Porters five force model
        6.4.1 Bargaining power of suppliers
        6.4.2 Bargaining powers of customers
        6.4.3 Threat of new entrants
        6.4.4 Rivalry among existing players
        6.4.5 Threat of substitutes
7. Perfluoroalkoxy Market – Strategic Analysis
    7.1 Value/Supply Chain Analysis
    7.2 Opportunity Analysis
    7.3 Product/Market Life Cycle
    7.4 Distributor Analysis – Major Companies 
8. Perfluoroalkoxy Market – By Product Type (Market Size -$Million/Billion)
    8.1 Granules
    8.2 Pellets
    8.3 Powder
    8.4 Aqueous Dispersion
9. Perfluoroalkoxy Market – By Application (Market Size -$Million/Billion)
    9.1 Tubes
    9.2 Linings
        9.2.1 Pipes
        9.2.2 Valves
        9.2.3 Fittings
    9.3 Transfer Molded Articles
    9.4 Semi-Conductor Components
    9.5 Wire & Cable Insulation
    9.6 Hoses
    9.7 Woven Packing
    9.8 Coatings
    9.9 Others
10. Perfluoroalkoxy Market - By End-use Industry (Market Size -$Million/Billion)
    10.1 Aerospace & Defense
    10.2 Automotive & Transportation
    10.3 Energy & Power
    10.4 Chemical & Petrochemical
    10.5 Electrical & Electronics
    10.6 Pharma/Medical
    10.7 Machinery & Equipment
    10.8 Others
11. Perfluoroalkoxy Market - By Geography (Market Size -$Billion)
    11.1 North America
        11.1.1 U.S
        11.1.2 Canada
        11.1.3 Mexico
    11.2 Europe
        11.2.1 UK
        11.2.2 Germany
        11.2.3 France
        11.2.4 Italy
        11.2.5 Netherlands
        11.2.6 Spain
        11.2.7 Russia
        11.2.8 Belgium
        11.2.9 Rest of Europe
    11.3 Asia-Pacific
        11.3.1 China
        11.3.2 Japan
        11.3.3 India
        11.3.4 South Korea
        11.3.5 Indonesia
        11.3.6 Taiwan
        11.3.7 Malaysia
        11.3.8 Australia and New Zealand
        11.3.9 Rest of APAC
    11.4 South America
        11.4.1 Brazil
        11.4.2 Argentina
        11.4.3 Colombia
        11.4.4 Chile
        11.4.5 Rest of South America
    11.5 Rest of the World
        11.5.1 Middle East
            11.5.1.1 Saudi Arabia
            11.5.1.2 U.A.E
            11.5.1.3 Israel
            11.5.1.4 Rest of the Middle East
        11.5.2 Africa
            11.5.2.1 South Africa
            11.5.2.2Nigeria
            11.5.2.3Rest of Africa
12. Perfluoroalkoxy Market – Entropy
    12.1 New Product Launches
    12.2 M&As, Collaborations, JVs and Partnerships
13. Perfluoroalkoxy Market – Industry/Segment Competition Landscape Premium
    13.1 Company Benchmarking Matrix – Major Companies
    13.2 Market Share at Global Level - Major companies
    13.3 Market Share by Key Geography - Major companies
    13.4 Market Share at Country Level - Major companies
    13.5 Market Share by Key Type/Product category - Major companies
14. Perfluoroalkoxy Market – Key Company List by Country Premium Premium
15. Perfluoroalkoxy Market Company Analysis
    15.1 Market Share, Company Revenue, Products, M&A, Developments
    15.2 Company 1
    15.3 Company 2
    15.4 Company 3
    15.5 Company 4
    15.6 Company 5
    15.7 Company 6
    15.8 Company 7
    15.9 Company 8
    15.10 Company 9
    15.11 Company 10 and more
"*Financials would be provided on a best efforts basis for private companies"