ETFE Market to experience an impressive growth of 10.2% during 2020-2025
January 28, 2020
ETFE Market is likely to witness an impressive CAGR of 10.2% during the forecast period. The increased demand for ethylene tetrafluoroethylene (ETFE) from various end-use industries, its eco-friendly and recyclable properties, which are considered to be better as offered by glass and other conventional fluoropolymers are the major factors expected to drive the growth of the global ETFE market during the forecast period.
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ETFE Market Segment Insights:
By Type:
Based on the type, the market is segmented as pellet/granule and powder. The pellet/granule segment accounted for the largest share of the market in 2018, in terms of both, value and volume, and the segment is likely to continue its dominance during the forecast period as well. The growth is owing to the extensive use of ethylene tetrafluoroethylene granules in electric wires & cables, valve lining, spray painting, and the acid-resistant and alkali-resistant injection products. Further, when ethylene tetrafluoroethylene in granular form is extruded into films & sheets and wires & cables, it is subsequently used by various end-use industries, such as automotive, architecture, aerospace, and chemical processing.
By Technology Type:
Based on the technology type, the market is segmented as extrusion molding, injection molding, and others. The injection molding technology segment is estimated to witness the highest growth, in terms of both, value and volume. This growth is attributed to the properties of ethylene tetrafluoroethylene resins, which can be processed at a wide range of temperatures because of their enhanced thermal stability and low melting points employing the conventional injection molding techniques. Further, ethylene tetrafluoroethylene resins are resistant to ultraviolet rays, which make them suitable for outdoor applications.
By Application Type:
Based on the application type, the market is segmented as films & sheets, wires & cables, tubes, coatings, and others. The films & sheets segment accounted for the largest share of the market in 2018, in terms of both, value and volume, and the segment is likely to maintain its dominance during the forecast period as well. Of late, glass in the building & construction industry is being replaced by ethylene tetrafluoroethylene films & sheets, on account of their excellent light transmission properties. Ethylene tetrafluoroethylene sheets, when assembled into cushions, are inflated for structural applications and they offer thermal insulation with minimal initial costs and lesser structural support against conventional glazed roofs.
By Region:
In terms of regions, the North American region is the largest global consumer of ethylene tetrafluoroethylene. The growth of the North American ETFE market is owing to the increased demand for ethylene tetrafluoroethylene from various end-use industries of the region. On the other hand, the Asia-Pacific’s ETFE market is estimated to register the highest CAGR during the forecast period, in terms of both, value and volume. The growth of the market in the Asia-Pacific region is driven by the easy accessibility of cheap labor and raw materials in the region. Additionally, the burgeoning economies of countries such as China, Indonesia, Taiwan, and India are also alluring new foreign investments in these countries, thereby contributing to the growth of various end-use industries in the region. Also, the design and implementation of various policies mandating the use of environment-friendly products have led to various innovations in the ethylene tetrafluoroethylene industry of the region.
Key Players:
Some of the major players in the ETFE market are Asahi Glass Company, Daikin Industries, Ltd., Ensinger GmbH, Guangzhou Lichang Fluoroplastics Co. Ltd., Hubei Everflon Polymer Co. Ltd., The 3M Company, The Chemours Company, Quadrant AG, and Vector Foiltec.
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