Description
Fluoropolymer Films Market size was valued at USD 2.1 Billion in 2021 and is projected to reach USD 3.2 Billion by 2028, growing at a CAGR of 5.0% from 2022 to 2028. Fluoropolymer films are high-performance, cutting-edge materials with unique properties like chemical resistance, low coefficient of friction, transparency, weather resistance, heat resistance, and water absorption. Fluoropolymer films are formed of complex base materials with qualities such as chemical resistance, weather resistance, low coefficient of friction, optical properties, and dielectric properties. Fluoropolymer films are widely employed in a variety of industries, including transportation, electrical and electronics, building, and industrial processes. They give crucial components used in pollution control, performance enhancement, and safety in the automotive and aerospace sectors a much longer shelf life. Fluoropolymer film’s market share is growing in the medical sector, thanks to its use in a variety of medical packaging films materials. Chemical, biological, climatic, and mechanical threats to product deterioration must be limited in pharmaceutical packaging. Factors such as growing demand for fluoropolymer films from the commercial construction industry, superior properties of fluoropolymers, increasing demand from various end user industries, rising popularity for the product and high precipitation capabilities of these film are some factors influencing the market growth. However, high price of fluoropolymer films and difficulty in processing are hampering the market growth. Global fluoropolymer films market is surging owing to frequent acquisitions and launchings by the market players. For Instance, Daikin expanded its business by opening a Daikin Chemical Southeast Asia in Thailand, in 2017, to increase the sales of fluoropolymer and fluoroelastomer products to the automotive industry. With this expansion, the company aims to expand its fluorochemical business in the Southeast Asian market.