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The fluorocarbon coating market size is forecast to increase by USD 125.79 million, at a CAGR of 4.39% between 2023 and 2028. The growth rate of the market depends on several factors, including the growing demand for fluorocarbon coating in vehicles, the rising demand for fluorocarbon coating in China, and the increasing demand for PTFE fluorocarbon coatings. It also includes an in-depth analysis of drivers, trends, and challenges.
The report offers extensive research analysis on the Fluorocarbon Coating Market, with a categorization based on Technology, including solvent-borne and water-borne. It further segments the market by Type, encompassing PTFE, PVDF, FEP, FEVE, and others. Additionally, the report provides Region segmentation, covering APAC, Europe, North America, Middle East and Africa, and South America. Market size, historical data (2018-2022), and future projections are presented in terms of value (in USD million) for all the mentioned segments.
Fluorocarbon coating is an organic coating that consists of a solid lubricant dispersed in an organic binder and dissolved in a mixture of solvents.
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One of the key factors driving the fluorocarbon coating market growth is the growing demand for fluorocarbon coating in vehicles. Fluorocarbon coatings are extensively used in the automotive industry to reduce corrosion and noise, reduce dry lubrication, abrasion, low friction, weathering, and sealing, and reduce aesthetics in various automotive components to enhance vehicle performance and durability. In addition, these coatings are used in door/window seals, solenoid and suspension components, piston skirts, connecting rods, assembly aids, connectors, and others.
Moreover, fluorocarbon coatings in the form of PTFE, PFA, and FEP are used in the automotive industry for coating engine components to protect them from exposure to external elements that cause corrosion such as road debris, fuel, oil, and extreme weather conditions. Furthermore, fluorocarbon coatings are widely used in automotive components as they help enhance the lifespan of vehicles; provide controlled torque tension; offer good resistance to fuels, fluids, and lubricants; and resist chipping and flaking. Hence, such factors are driving the market growth during the forecast period.
A key factor shaping the fluorocarbon coating market growth is the rise in water-based fluorocarbon coatings. The increasing use of water-based formulations as a more environmentally friendly alternative to traditional solvent-based coatings is a prominent development in the global fluorocarbon coating market. In addition, this tendency is mostly driven by severe regulatory standards and industry-wide sustainability aspirations.
Moreover, water-based fluorocarbon coatings provide several advantages, including lower VOC emissions, a lower environmental impact, and increased worker safety during application. In addition, water-based fluorocarbon coatings, for example, are gaining traction in applications such as architectural coatings and automotive finishes, coinciding with the industry's desire to minimize its environmental imprint. Hence, such factors are driving the market growth and trends during the forecast period.
Shortfalls of coating-based fluoropolymers are one of the key challenges hindering the fluorocarbon coating market growth. Even though, as demand for coating-based fluoropolymers increases each passing year, its supply has begun declining. In addition, PTFE, one of the major types of fluorocarbon coating, has been facing supply-related issues in recent years amid major changes in the US antidumping policy.
Moreover, PTFE is generally supplied by countries such as China and India. In addition, as these two countries had been dumping PTFE in the US, the US International Trade Commission (ITC) triggered the antidumping duty, which affected PFTE supplies. Hence, such factors are negatively impacting the market. Therefore, it is expected to hinder the market growth during the forecast period.
The solvent-borne segment is estimated to witness significant growth during the forecast period. Solvent-borne segments are liquid protective chemicals applied on surfaces of materials to prevent corrosion. In addition, these chemicals are less susceptible to conditions such as high temperatures and humidity during the curing phase. Furthermore, solvent-borne coatings typically contain high levels of volatile organic compounds (VOC), which are harmful to the environment.
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The solvent-borne segment was the largest segment and was valued at USD 313.81 million in 2018. Moreover, as per the Clean Air Act (CAA), various regulations govern the use of solvent-borne coatings in applications such as aerospace, automotive, architectural and industrial, consumer products, metal parts, and dry cleaners. For example, under section 112(d) of the CAA, solvent-borne coatings are regulated under the hazardous air pollutants (HAP) emission standards. Furthermore, strong demand for solvent-borne coatings in the building and construction, automotive, aerospace, and other end-user industries will fuel the consumption of fluorocarbon coating, which, in turn, will drive the growth of the global fluorocarbon coating market during the forecast period.
Based on the type, the market has been segmented into PTFE, PVDF, FEP, FEVE and others The PTFE segment will account for the largest share of this segment. PTFE segment is a versatile ivory-white and opaque plastic fluoropolymer. In addition, industries such as pharmaceuticals, automotive, aerospace, medical devices, and telecom are the prime users of PTFE coating. Moreover, PTFE exhibits properties such as outstanding chemical resistance, a low coefficient of friction, good dielectric characteristics, outstanding corrosion protection, and high thermal stability and flame resistance. Hence, such factors are fuelling the growth of this segment which in turn drives the market growth during the forecast period.
APAC is estimated to contribute 43% to the growth of the global market during the forecast period.
Technavio's analysts have provided extensive insight into the market forecasting, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period.
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Several countries including China and India are leading consumers of textiles in APAC. In addition, in the textile industry, fluorocarbon coating in the form of PTFE is used for manufacturing fiber, filament, yarn, and fabric. Moreover, the increasing consumption of textiles in India and China will fuel demand for fluorocarbon coating in APAC. The growth of the market is also influenced by the increasing number of construction projects in the region.
In addition, the automotive industry in APAC was identified as one of the biggest industries in 2020. India, South Korea, Japan, and China are key automotive manufacturers in the region. For instance, automotive producers in APAC such as Maruti Suzuki India Ltd., Hyundai Motor Co. (Hyundai), Nissan Motor Co. Ltd. (Nissan), Toyota Motor Corp. (Toyota), and others are major automotive manufacturers in the region. Therefore, these manufacturers require fluorocarbon coatings for manufacturing vehicle components, interiors, and others. Hence, such factors are driving the market growth in APAC during the forecast period.
Companies are implementing various market growth and forecasting strategies by analyzing factors such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product or service launches, to enhance their presence in the market.
3M Co: The company offers fluorocarbon coatings under 3M Fluorosurfactant FC-4432, 3M Easy Clean Coating ECC-1000, 3M Flame Retardant Additive FR-2025, and others.
The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
AGC Inc., Akzo Nobel NV, Arkema Group, Blinex Filter-Coat Pvt. Ltd., Daikin Industries Ltd., DuPont de Nemours Inc., Fluorocarbon Co. Ltd., Gujarat Fluorochemicals Ltd., Kansai Paint Co. Ltd., Nippon Paint Holdings Co. Ltd., Pexco LLC, PPG Industries Inc., Rollstud Ltd., Solvay SA, SP Group AS, TECHNICOAT S. R. O., The Chemours Co., Tribology India Ltd., and Zhuhai Fute Science and Technology Co. Ltd.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
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Fluorocarbon Coating Market Scope |
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Report Coverage |
Details |
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Page number |
178 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.39% |
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Market Growth 2024-2028 |
USD 125.79 million |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
4.25 |
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Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
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Performing market contribution |
APAC at 43% |
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Key countries |
US, China, Japan, India, and Germany |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
3M Co., AGC Inc., Akzo Nobel NV, Arkema Group, Blinex Filter-Coat Pvt. Ltd., Daikin Industries Ltd., DuPont de Nemours Inc., Fluorocarbon Co. Ltd., Gujarat Fluorochemicals Ltd., Kansai Paint Co. Ltd., Nippon Paint Holdings Co. Ltd., Pexco LLC, PPG Industries Inc., Rollstud Ltd., Solvay SA, SP Group AS, TECHNICOAT S. R. O., The Chemours Co., Tribology India Ltd., and Zhuhai Fute Science and Technology Co. Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Technology
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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