Filled Fluoropolymer Market Analysis

Filled Fluoropolymer Market Overview

According to MRFR analysis, the global high-performance fluoropolymers market is estimated to reach a value of over USD 5 billion by 2030, registering a CAGR of around 6%.

Fluoropolymers are a family of plastic resins which are based on fluorine/carbon bonding. The family of products is varied by manipulating that bond by adding or subtracting fluorine through other bonds such as chlorine, ethylene, and other chemical agents. Filled fluoropolymer involvescombining a balanced mixture of alternative compounds and embedding it within the fluoropolymer matrix to create a polymer thatfunctions well in very specific and highly aggressive environments. Some of the fillers used to fill fluoropolymer, especially PTFE, include carbon, graphite, glass, bronze, and aluminum. The filled fluoropolymer exhibits beneficial properties such as high compressive strength, improved wear resistance, excellent chemical resistance, and better thermal and electrical conductivity. The use of PTFE exhibits benefits in manufacturing and engineering and in makingtubes and liners for handling or storing corrosive chemicals. It increases the lifetime of both the parts themselves and the machinery they are part of.

Covid Impact on Filled Fluoropolymer Market:

The global economy is set to expand 5.6% in 2021, after hitting the lowest by the outbreak of COVID 19. The global economy is envisioned to recover at a moderate growth of 4.3% in 2022. However, the global GDP is expected to remain 1.8% below pre-pandemic projections. The pandemic resulted in disruptions across the global operations and supply chain of almost every end-use industry. The disruptions resulted in slowing or shutting down the markets. However, with the uplifting of bans and travel restrictions, the growth across end use industries has gained significant momentum.

In the face of the COVID-19 pandemic, world oil production plunged to 91.3 Mb/d in 2020, a significant drop from 2019’s daily production level of 98.0 Mb/d.Despite registering a 5% decrease in oil production, the US remained the world’s top producer in 2020, followed by Russia, Saudi Arabia, Canada, China, and Iraq. Out of the sixlargest oil producers, China recorded year-on-year growth of +2%. The market is likely to bounce back to normalcy with the uplifting of bans and restrictions, resulting in oil & gas exploration activities driving the demand for filled fluoropolymer products.

Market Dynamics

Drivers

• Extensive Use in Oil & Gas Processing Industry

Thekey driver of the global filled fluoropolymer market is its use inthe oil & gas processing industry for applications such as gaskets, vessel linings, pump interiors, washers, rings, seals, spacers, dip tubes, and well-drilling components, etc.In the oil and gas industry, the combination of powerful equipment, chemicals, and processes creates an extremely hazardous environment, which requiresa range of materials that can withstand extremely high working temperatures, brine solutions, chemicals, and oil residue. The use of filled fluoropolymer in oil & gas applications is attributed to its corrosion-resistant and chemically inert nature and can functionin environments to 500 °F.

• Uses in Mechanical and Civil Engineering Applications

Use of filled fluoropolymer in mechanical & civil engineering applications such as machine tools, air compressor, bridge bearing, and hydraulic & pneumatic seals, among others. These products are widely used in automotive, aerospace, and railway industries, further driving the demand for filled fluoropolymers.

• Growth of Electricals & Electronics Industry

Filled fluoropolymers also find uses in the electrical & electronics industry for applications such as electric switch gears, capacitors, traction motors, and traction generators, mainly due to their outstanding electrical insulation characteristics.

Restraints

• Health Hazards Associated with the Fillers and Pigments of Filled Fluoropolymers Compound

The processing of filled fluoropolymers requires processors to note any additional hazards associated with the fillers or pigments themselves as outlined on the product-specific SDS. Although many of the commonly used fillers and pigments have low toxicity, some are abrasive and may cause skin irritation. Skin contact with filled or pigmented fluoropolymers or inhalation and ingestion of filled or pigmented fluoropolymer dust must be avoided. Inhalation of ultra-fine, low-molecular-weight fluoropolymer particles may cause an influenza-like condition called "polymer fume fever." The symptoms of polymer fume fever are chills (shakes), fever, chest pains, shortness of breath, and coughing.

Opportunity

• Use in Medical Industry on account of its Biocompatibility

The rising preference for biocompatible PTFE-based membranes and grafts for cardiovascular, orthopedic, ophthalmic, and dental procedures is expected to create new growth opportunities for the players in this market. In addition to this, the development of reprocessed PTFE with higher compressive strength and durability is likely to open up new growth avenues for the players in this market.

Regulatory Framework

Filled fluoropolymers have compliance with OSHA standard 29 CFR 1910.1027, which states that, while processing and handling filled compounds, respirators must be selected based on the potential hazards of the other chemicals in the resins. Goggles and protective gloves should be worn as recommended on the supplier’s SDS.

In addition to this, Plastics Industry Association has recommended industrial hygiene practices designed to minimize safety hazards associated with melt extrusion, regardless of method. However, due to our assessment of the hazards associated with the "Free Foam" process and the availability of safer foaming methods, Plastics Industry has issued a notice to FEP and other polymer processors that foaming by the “Free Foam” process should not be done as the process creates potentially increased safety hazards.

Moreover, the ASTM D4745 – 19is the standard classification system and basis for specification for filled polytetrafluoroethylene (PTFE) molding and extrusion materials. This specification covers PTFE-filled molding compounds made with virgin PTFE resins defined in a certain specification. PTFE compounds are classified into two types: Type I as the non-palletized material used for general purpose compression molding and Type II as the pelletized or free-flowing material used for molding, automatic molding, or ram extrusion. Each type is further classified into thirteen grades distinguished by the nature of the filler.

Supply Chain Analysis

The supply chain analysis is the process of evaluating every stage and step taken by stakeholders involved throughout the production and distribution of filled fluoropolymer. The supply chain includes raw materials and suppliers, filled fluoropolymerproducers, distribution channels, and end-use industries. The distribution channel in this market comprises distributors, wholesalers, and e-commerce merchants.

Segment Overview

By End Use

• Oil & Gas: The oil & gas segment is expected to account for a significant share of the global market in 2020. The increasing investment in oil & gas exploration activities across the globe on account of the ever-increasing demand for energy drives the demand for filled fluoropolymer products in the oil & gas industry. According to the International Energy Agency, the petrochemical industry remains a pillar of growth over the forecast period. Ethane, LPG, and naphtha together account for 70% of the projected increase in oil product demand by2026.


• Automotive & Transportation: Machine tools, air compressor, bridge bearing, and hydraulic & pneumatic seals, among others used in automotive, aerospace, and other transportation industry promote the demand for filled fluoropolymer in the automotive & transportation industry.


• Healthcare: In the pharmaceutical industry, filled PTFE is used in the processing of drugs and for equipment used to manufacture such as mixers, presses, and bushings. It is also used in the manufacturing of implants on account of its biocompatibility.


• Electrical & Electronics: PTFE also has good electrical insulation properties, and thus, it is used to insulate cables and connector assemblies. This makes it ideal for hookup wire, coaxial cable, and printed circuit boards.


• Chemical Processing: Modified fluoropolymers are used in handling and storing corrosive chemicals and coating parts such as bearings and screws.


• Others: PTFE can also be used as a lubricant for machinery, reducing friction, energy consumption, and equipment wear. PTFE can also be found in consumer products such as outdoor apparel, school uniforms, footwear, insoles, etc.

Regional Analysis:

The global filled fluoropolymer market is studied for five key regions: North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The market in North America is expected to witness strong demand for filled fluoropolymers owing to the high energy consumption across the states. The primary energy consumption in the US stood at 92.94 quadrillions BTU in 2020, out of which, 35% and 34% were accounted by petroleum and gas.

Asia-Pacific emerged as the leading region due to the growth potentialin emerging economies such as India, South Korea, Thailand, and Malaysia. Asia-Pacific filled fluoropolymer market has been witnessing consistent growth due to capacity expansion for oil & gas in the region. According to the International Energy Agency, Asian crude oil imports are projected to surge to nearly 27 mb/d by 2026. The rising demand for energy in the region, in line with the fast-paced industrialization and the increasing number of manufacturing bases, is driving the filled fluoropolymer market.

Competitive Landscape

Some of the key companies profiled in the global filled fluoropolymer market include 3M (US), Mitsubishi Chemical Corporation (Japan), AGC Inc. (Japan), The Chemours Company (US), Shashi Fluoroplastiks (India), DAIKIN INDUSTRIES, Ltd. (Japan), U-Tech Polymers (India), AFT Fluorotec Ltd (UK), HaloPolymer, OJSC (Moscow), HINDUSTAN NYLONS (India), Standard Fluoromers Pvt. Ltd. (India), and FLUORTEN (Italy).

3M is a diversified technology company with a global presence. It operates through four business segments: safety and industrial, transportation and electronics, healthcare, and consumer. The company operates through 64 manufacturing facilities in 29 states in the US. Internationally, the company has 97 manufacturing and converting facilities across 35 countries. As of 2019, it held 118,000 patents. 3M aims to achieve sustainable growth by switching toward renewable electricity and eco-friendly products. It switched to renewable electricity at its headquarters, effective from March 1, 2019. The company focuses on enabling clients across more than 70 countries to switch to 100% renewable sources of power.

Recent News

In 2023, Chemours Company declared its new line of Teflon EcoEliteTM, which is the most eco-friendly in the environment. Thus, it implies that Teflon EcoEliteTM and other fluoropolymers made from renewable feeds are more environmentally friendly compared to conventional fluoropolymers.

2023: 3M unveiled a novel coating made up of non-stick polymers that can decrease ice formation on airplane wings. The use of this coat by airlines could imply lower fuel consumption and emissions.

November 2022: Solvay and Orbia have entered into a framework agreement with respect to future partnership for the production of suspension-grade PVDF (polyvinylidene fluoride) for battery materials with the largest capacity in North America as a result.

October 2022: Dongyue Group has completed the construction of its PVDF project in China with an annual capacity of about 10,000 tons. After completion of this project, the total PVDF production capacity reached 25k tpa.

September 2022 - Arkema acquired Polimeros Especiales, for Mexican firm that produces high-performance waterborne resins used in many market segments, such as pressure-sensitive adhesives architectural and decorative paints/textiles/construction.

Intended Audience

• Oil & Gas Companies


• Automotive & Transportation Companies


• Medical Companies


• Pharmaceutical Companies


• Research Institutes


• Academic Institutes


• Government Organizations