Perfluoroalkoxy Market: Overview
- Perfluoroalkoxy is a copolymer of hexafluoropropylene and perfluoroethers. High melt strength, melt flow rate, and thermal stability are properties offered by this material in various end-use industries such as chemical processing, food & beverage, medical, etc.
- Perfluoroalkoxy is extensively used to prevent corrosion, due to equipment failures and leakages at the time of chemical processing and manufacturing operations. In order to prevent corrosion, perfluoroalkoxy offers chemical resistance and anti-stick, making them ideal corrosion inhibitor for coatings on metallic substrates, thus resulting in low cost and increased lifespan of manufacturing equipment.
Key Drivers of Global Perfluoroalkoxy Market
- Perfluoroalkoxy is fluoro polymer, which possesses characteristics such as high heat resistance, chemical resistance, low smoke & flame, high dielectric strength, and resistance to weather & aging
- Ability of perfluoroalkoxy to dissipate less energy at high frequencies and their high insulating ability make them an ideal material for use in the production of cables for the electronics & semiconductor industry. Growing demand for cables, owing to increased investments in power transmission and distribution systems is expected to drive the global electronics & semiconductor sector. This, in turn, is expected to boost the production of perfluoroalkoxy during the forecast period.
- Attributes of perfluoroalkoxy such as their resistance to chemical attack, high optical transparency, and flexibility makes them a suitable material for the production of tubing. Owing to these attributes, perfluoroalkoxy is extensively used for fluid handling applications for industries, including chemical processing, food & beverages, automotive, aerospace & defense, medical, etc.
- Perfluoroalkoxy is used for plastic lab equipment due to its extreme resistance to chemical attack, optical transparency, and flexibility. In plastic lab equipment, perfluoroalkoxy is also often used as tubing for handling highly corrosive fluids and sheet linings for chemical equipment. Perfluoroalkoxy liners are excellent materials for replacing expensive metals and alloys such as inconel or hastelloy with lined carbon steel or lined fiber reinforced plastic.
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High Competition from Substitutes to Hamper Global Perfluoroalkoxy Market
- Polytetrafluoroethylene (PTFE) is a fluorocarbon, which is hydrophobic in nature and possesses very low coefficient of friction. It offers higher resistance to heat and low coefficient of friction than perfluoroalkoxy. However, the surface finish of perfluoroalkoxy is smoother than that of PTFE and have dielectric strength three to four times higher than PTFE. Additionally, perfluoroalkoxy also offers superior flexibility as compared to PTFE, mainly for tubing applications.
- Perfluoroalkoxy offers high chemical resistance, but is less than that of fluorinated polymers such as PTFE and fluorinated ethylene propylene (FEP), as the perfluoroalkoxy is not fully fluorinated
Asia Pacific to Hold Prominent Share of Global Perfluoroalkoxy Market
- In terms of region, the global perfluoroalkoxy market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific is expected to be a leading consumer of perfluoroalkoxy across the globe. Rapid expansion of the building & construction sector is likely to fuel the demand for wires and cables in the near future. Furthermore, rise in research and development activities in the aerospace and defense sector is projected to drive the demand for wires and cables during the forecast period. This, in turn, is projected to fuel the demand for perfluoroalkoxy, owing to their excellent ability of dissipating less energy at high frequencies and high insulating ability.
- Perfluoroalkoxy market in Europe and North America is well established and providers of perfluoroalkoxy such as Solvay SA, AGC Chemicals Europe, Ltd. are extensively engaged in increasing their production capacity, new product launches, and quality of the existing products
- This perfluoroalkoxy market in Latin America and Middle East & Africa is projected to expand at a slow rate, as manufacturers across these regions are dependent on imports from developed nations in order to meet the demand for perfluoroalkoxy
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Key Players Operating in Global Perfluoroalkoxy Market
Global perfluoroalkoxy market has a presence of a large number of major manufacturers and a few small companies. Key players operating in the global perfluoroalkoxy market include:
- Alfa Chemicals Ltd
- Solvay SA
- AGC Chemicals Europe, Ltd.
- Zeus Industrial Products, Inc.
Global Perfluoroalkoxy Market: Research Scope
Global Perfluoroalkoxy Market, by Processing Method
- Injection Molding
- Powder Coating
- Compression Molding
- Transfer Molding
Global Perfluoroalkoxy Market, by Application
- Film & Sheets
- Pipe & Tubing
- Fittings & Housings
- Wires & Cables
- Sheet Lining
Global Perfluoroalkoxy Market, by End-use Industry
- Oil & Gas
- Chemical Processing
- Electricals & Semiconductor
- Food & Beverages
- Aerospace & Defense
- Others (textile, pulp & paper, etc.)
Global Perfluoroalkoxy Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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Below is a snapshot of these quadrants.
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The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
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10. What will be the barrier to entry for new players in the market?
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