Global Fluorinated Ethylene Propylene Market is anticipated to witness prominent growth on account of its increasing applications in the construction, renewable energy, automotive, chemical processing, and electrical & electronics industries. The product exhibits properties like greater breakdown voltage, longer life and good mechanical strength, making its application vital in electrical cable and wires that are used in power distribution lines.
A noticeable rise in government initiatives to expand existing power distribution networks may fuel the demand for fluorinated ethylene propylene. Moreover, commencement of new building infrastructures and rapid urbanization may drive the demand for wires and cables, thereby augmenting FEP market size. On this note, Global Market Insights, Inc., suggests that the fluorinated ethylene propylene market is anticipated to amass around USD 1.2 billion by 2025.
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Top Key Players in The Market are:
Chemours Company, AMETEK, BASF, Daikin Industries, and Inoflon Fluoropolymers
FEP is extensively used in the manufacturing of tubes, sheets and rods. The product is used in the production of coolant circulation and brake line tubing which are integrated in premium SUVs and pickup vehicles. FEP is also used in the manufacturing of cryogenic seals, high-performance hoses, guide bushes, and seats in the aerospace industry.
A surge in the vehicle manufacturing may bolster product demand in the automobile sector. Moreover, rise in military spending and air passenger traffic worldwide would supplement fluorinated ethylene propylene market outlook in the forthcoming years.
FEP finds extensive applications in the chemical processing industry as well, owing to its properties like low coefficient of friction, desirable chemical resistance, and nonstick functionalities. Intensifying demand for advanced chemicals in the construction and oil & gas industry might fuel the demand for FEP in applications like gaskets, vessel liners, tubing, fluid handling systems, and valves.
Moreover, surging investment in research & development, increasing requirement for advanced materials in the automotive sector and rising adoption of nanotechnology are projected to propel FEP market share. Studies suggest that the global fluorinated ethylene propylene would record growth of over 6.5% from chemical processing applications over the estimated timeframe.
In terms of regional share, North America fluorinated ethylene propylene market is expected to witness considerable growth owing to rapid advancements in the renewable energy sector. The product is used in the manufacturing of solar cells due to its low weight, long life, weathering performance, and UV resistance.
The advent of new government initiatives focused on reducing greenhouse gas emissions, increasing demand for self-sufficiency, and offering of subsidies on installation photovoltaic systems are anticipated to shape the growth trajectory for North America fluorinated ethylene propylene market growth.
It is vital to mention that the fluorinated ethylene propylene market is highly competitive, with companies like Daikin Industries, 3M, DowDuPont, Saint-Gobain, and Merck Millipore dominating the global industry. These firms are introducing new products to enhance their offering and attract new customers.
