Global Fluoropolymer coating additives market is expected to grow substantially over the forecast period on account of increasing application scope in industries such as metals, paints, construction and bedding & furniture. Growing construction and automotive industries in Asia Pacific and Latin America particularly in China, India and Brazil is projected to augment fluoropolymer coating additives market in near future. The promising characteristics of fluoropolymer coating additives projects the product as a favored solution for applications requiring high resistance to solvents, acids & bases, coupled with ability to decrease friction. These significant physiognomies are expected to exponentially boost the fluoropolymer coating additives market growth in near future.
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On the basis of products, fluoropolymer coating additives have been classified into fluorinated ethylene propylene, polyvinylidene fluoride (PVDF) and polytetrafluoroethylene (PTFE). Extensive application segments are anticipated to deliver enormous opportunities to various end-use industries on account of intrinsic properties such as high corrosion resistance and chemical inertness. Highly priced fluoropolymer coating additives and volatile raw material prices are the major setbacks to the market expansion.
On the basis of end-use industries, fluoropolymer coating additives market has been segmented into construction, automotive and furniture & bedding. Construction was the largest end-use segment in 2014 and is expected to maintain its dominance in global market over the next seven years. Improving infrastructure coupled with rising specialty polymer coatings requirement in mature economies is expected to augment fluoropolymer coating additives demand in the segment over the foreseeable future.
In terms of demand, Asia Pacific holds the largest market share of fluoropolymer coating additives and is expected to remain the market leader over the next seven years. Increasing demand in construction industry in emerging economies such as India and China is expected to drive the market penetration in the region over the forecast period. Growing consumer preference towards specialty paints and coating additives in mature economies of Europe and North America may be attributed for steady growth of fluoropolymer coating additives market over the next seven years. Middle East is expected to witness a noteworthy growth over the forecast period as a result of the growing specialty coatings demand in automotive and construction industries in the region.
Global fluoropolymer coating additives market is moderately consolidated with key market players accounting for over 50% of the market share. Major players involved in manufacturing fluoropolymer coating additives include Dow Chemical Company, Eastern Chemical Company, Akzonobel and BASF. Key market participants are involved in extensive innovation and R&D for increasing market share globally.
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