Ethylene Tetrafluoroethylene Market

Ethylene Tetrafluoroethylene Market - An Overview

The global ethylene tetrafluoroethylene market is expected to witness strong growth during the forecast period between 2021 and 2031.

Ethylene tetrafluoroethylene has developed into an important raw material in manufacturing processes owing to several distinct product features such as high resistance to different, extreme temperatures and excellent radiation resistance.

As a result, these products have been widely deployed in the aerospace and chemical industries globally, in the last few years.

The outbreak of the COVID-19 pandemic negatively impacted the global ethylene tetrafluoroethylene market. With governments imposing strict social distancing regulations and lockdowns, manufacturing facilities were forced to shut down temporarily or permanently.

Construction activities were also halted owing to the restrictions and impacted the product demand and the overall market.

Ethylene Tetrafluoroethylene Market - Trends and Opportunities

Rising product demand in solar panel manufacturing is the key growth driver for the global ethylene tetrafluoroethylene market.

Also, continuous growth and development of various industries in developing economies globally is expected to help increase product demand, in the upcoming years.

Ethylene tetrafluoroethylene has been deployed in the construction of roofs at homes and stadiums and this product application has played a key role in bolstering market growth, globally.

Government measures, creating awareness about the benefits of ethylene tetrafluoroethylene could also help fuel product demand and assist market growth, in the years ahead.

Building and construction end-use segment is anticipated to make the largest contribution to the overall market due to increased product deployment in residential infrastructure and commercial buildings.

Pellet form of ethylene tetrafluoroethylene is expected to contribute the most to the global market owing to their product features, which permit users to convert them into wires, cables, and tubes that can be deployed for activities in several industries, worldwide.

Ethylene Tetrafluoroethylene Market - Competitive Landscape

The global ethylene tetrafluoroethylene market comprises several well-established players and is extremely competitive. These companies have become prominent owing to years of consistent performances in the industry.

Many of these players are expected to account for a large share in the overall market, in the years ahead.

Prominent market players are anticipated to make huge investments in research and development activities in a bid to produce improved quality of products, which could be deployed in an extensive range of applications, across various industries.

These R&D undertakings could be a key growth strategy for the well-established market players, in the upcoming years.

Leading players could also collaborate with the lesser-known players in a bid to expand their market presence and increase their revenue share.

Some of the prominent players in the global market include 3M, Daikin Industries, HaloPolymer, Saint-Gobain S.A, AGC Inc., and SABIC.

In 2019, AGC Inc. developed a fully-equipped ethylene tetrafluoroethylene production facility in China with the objective to manufacture cover glass for car-mounted displays.

Ethylene Tetrafluoroethylene Market - Regional Assessment

The global ethylene tetrafluoroethylene market is classified into five regions, namely, North America, Asia Pacific, Europe, Latin America, and Middle East and Africa.

North America is expected to offer lucrative growth opportunities for the global market due to increasing trend for tensile architecture in countries such as US and Canada, contributing largely to market growth in the region.

Europe is anticipated to witness substantial growth in the overall ethylene tetrafluoroethylene market due to increased product deployment in several end-use industries in countries such as UK and Germany.

Asia Pacific is expected to witness strong growth in future due to rising investments in infrastructure projects and rapid industrialization in countries such as India and Thailand. Also, growth in the automotive sector in these countries could lead to increased ethylene tetrafluoroethylene demand.

Other parts of the world such as Latin America and Middle East and Africa are expected to witness moderate growth in the overall market, in the upcoming years, owing to the lack of presence of prominent market players in countries, belonging to both regions.