Fluoropolymer market worth $9.8 billion by 2018

The fluoropolymers market is projected to grow from an estimated $7.2 billion in 2013 to $9.8 billion by 2018, with annual growth of about 5.7% from 2013 to 2018, according to the report “Fluoropolymer Market, By Type (PTFE, PVDF, FEP, Fluoroelastomers) & Application (Automotive, Electrical & Electronics, Chemical Processing, Industrial) - Global Trends & Forecast to 2018” by MarketsandMarkets. The market for fluoropolymers is being driven by the expansion of existing application markets and emergence of new markets. Fluoropolymers exhibit properties superior to other polymeric materials and rubber which make them ideally suitable for a wide range of applications, especially applications demanding extreme environments, such as high temperature stability, high chemical resistance, superior dielectric properties, weldability, mechanical strength, etc. The automotive and transportation industry is the largest end use application for fluoropolymers. The highest sales growth of passenger cars in emerging markets such as China and India is also expected to boost the market. Electrical and electronics is the second largest application for fluoropolymers where they are increasingly being used in semiconductor fabrication, wire and cable insulation, lithium-ion batteries, jacketing, etc. Emerging new applications including photovoltaic modules, fuel cells, jacketing, lithium-ion batteries, etc. would also fuel the growth of the fluoropolymers market in the near future. www.marketsandmarkets.com