The global fluoropolymer coating additives market is anticipated to register growth over the forecast period. Increasing application in end-use industries such as construction and automobile industries is projected to drive the market growth. Fluoropolymer coating additives are used for improving wettability, foam reduction, anti-chipping, dispersing and UV protection of the coating material. Growth of construction industry in the emerging economies of Asia Pacific and Latin America is anticipated to remain a key driver for global fluoropolymer coating additives market. Increasing automotive production in countries such as China, India, Japan and Brazil is expected to fuel fluoropolymer coating additives demand over the forecast period.
Global fluoropolymer coating additives market is anticipated to grow significantly over the next six years owing to its increasing penetration in metals, paints, construction and bedding & furniture industries. Fluoropolymer coating additives can be further categorized into polytetrafluoroethylene (PTFE), fluorinated ethylene propylene and polyvinylidene fluoride (PVDF). These above mentioned sub-categories exhibit high resistance to corrosion, chemical inertness and high temperature, which in turn is expected to provide huge opportunities to market participants and augment global market growth. High fluoropolymer coating additives pricing is a major challenge faced by the market. Volatile raw material prices are a major issue driving fluoropolymer coating additives prices. This trend is expected to have a negative impact on their demand.
Asia Pacific is projected to emerge as the largest regional market over the next six years owing to high demand from emerging economies such as China and India. Growth of construction industry in China and India is a major factor driving Asia Pacific market growth. Increasing automotive production in China, India, Japan and Korea is expected to further drive fluoropolymer coatings additives demand. North America and Europe are expected to witness steady growth rates over the forecast period due to increasing fluoropolymer coating additives application in furniture and paints & coatings industries. Middle East is expected to exhibit significant growth rate over the forecast period due to growing construction industry in the region.
Key players operating in the global fluoropolymer coating additives market include Eastman Chemical Company., Akzonobel, Evonik, Elementis, BASF, Arkema, Dow Chemical Company, BYK-Chemie, Lubrizol, Momentive Speciality Chemicals, Ashland and Cabot Corporation. Market participants are involved in extensive R&D and innovation in order to increase market shares and penetrate regional markets.
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The prevailing pandemic situation has led to weakened demand for paints and coatings in automotive, construction, electronics, and white goods. The path to recovery of growth for the industry is highly dependent on the duration of restrictions imposed and their influence on economic activity across the globe. Contrary to the trend prevalent in the industry in general, certain segments of the market such as antimicrobial coatings are witnessing a surge in demand in healthcare and food industries. The report will account for Covid19 as a key market contributor.