Fluoropolymer
material comes in various forms, but the most common form is
polytetrafluoroethylene (PTFE). In the medical device industry, PTFE
is being widely used for in-body application in the solid form as it
is very clean and easily inert in tissue or blood. However, it cannot
be used and any load-bearing application as the material is very
soft. The companies in the healthcare industry are opting for
fluoropolymer as compared to the plastic for packaging due to its
barrier properties and natural inertness. Moreover, the healthcare
industry is also increasingly adopting materials that are able to
meet unique performance standards such as sterilization, compatible
with living tissues, stable in various range of temperatures, purity,
lubricity, and inertness to chemical activity. Extensive research is
also being carried out in order to optimize and upgrade the
performance of fluoropolymer material in the healthcare industry.
Fluoropolymers are
being used in manufacturing medical devices based on two key
properties i.e. biocompatibility and lubricity. Moreover, there has
also been an increase in the use fluoropolymer in external medical
devices such as limb installation, jackets, gloves, aprons, etc., to
protect from various diseases and infection. Surgeons are also
increasingly using fluoropolymer multilumen catheter to perform
surgeries without the need to remove one catheter and use another.
Unique properties of fluoropolymer has made it one of the most
preferred materials for manufacturing devices used in minimally
invasive medical procedures. Various regulatory bodies have also
imposed stringent regulations on the use and manufacturing of
fluoropolymer products.
Asahi Glass Co.,
Ltd, Solvay SA, E.I Dupont De Nemours and Company, 3M Company,
Honeywell International Inc., Daikin Industries Ltd., The Chemours
Company, Compagnie de Saint-Gobain SA, Mexichem S.A.B. de C.V., Zeus
Industrial Products Inc., and W. L. Gore & Associates, Inc., are
some of the key players operating in the global fluoropolymer
market.
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The latest report by
Transparency Market Research (TMR) expects the global fluoropolymer
market to experience steady growth. Between the forecast period 2017
and 2026, the market is projected to increase to CAGR of 5.3%. The
global fluoropolymer market is also estimated to bring in US$ 690.3
million revenue towards 2026 end.
The global
fluoropolymer market is categorized into application, product, and
region. Based on the product, the market segment includes fluorinated
ethylene propylene, polyvinylidene difluoride,
polytetrafluoroethylene, and other products. Among the given product
types, Polytetrafluoroethylene is expected to be the largest product
type during the forecast period 2017-2026.
Based on the
application, the global fluoropolymer market is segmented into drug
delivery, medical devices, pharmaceutical packaging, and other
applications. Medical devices are expected to be the largest segment
in terms of application of fluoropolymer in the global fluoropolymer
market.
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APEJ is expected to
dominate the global fluoropolymer market during the forecast period.
The region is the largest producer as well as consumer of
fluoropolymer products. Moreover, availability of skilled labor and
raw materials such as fluorocarbon, ethylene, and fluorspar at low
cost are also some of the factors contributing to the growth of the
region. Countries such as China, India, and South Korea are the
leading manufacturers and consumers of fluoropolymer in APEJ.
Meanwhile, North America and Europe are also expected to witness
growth due to the developed healthcare industry in countries such as
France, U.K., Germany, and the U.S.
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