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.
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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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