Fluoropolymers are fluorocarbon-based polymers formed by strong bonding between carbon and fluorine, which makes them mechanically stable. They are high-performance plastics and are characterized by high resistance to acids, bases, and solvents. Fluoropolymers account for about 20% of all the fluorochemicals available in the market.
Technavios analysts forecast the global fluoropolymer market in the healthcare industry to grow at a CAGR of 7.19% during the period 2016-2020.
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Global Fluoropolymer Market in the Healthcare Industry 2016-2020
Report recognizes the following companies as the key players in the global fluoropolymer market in the healthcare industry: Asahi Glass, Solvay, Honeywell, Daikin Industries, Chemours, and 3M.
Other Prominent Vendors in the market are: Arkema, Chicago Gasket, Dongyue Group, Flontech USA, Mexichem, NORELL, Saint-Gobain Performance Plastics, W. L. Gore & Associates, and Zeus Industrial Products.
Commenting on the report, an analyst from Reports team said: One trend in the market is increased expenditure on R&D. Competition in the global fluoropolymer market in the healthcare industry is intensifying. Vendors are developing innovative solutions and exploring new applications for the existing range of fluoropolymer products to stay ahead in the competition. They are investing increasingly in R&D to create better products. Moreover, the growing environmental and health concerns have led vendors to focus on the development of eco-friendly fluoropolymers with low toxicity, particularly in the healthcare industry. Extensive research is being undertaken to upgrade and optimize the performance of fluoropolymer products in healthcare applications.
According to the report, one driver in the market is replacement of plastics by fluoropolymers. Consumers in the healthcare industry are increasingly opting for fluoropolymers over plastics in packaging applications owing to their superior characteristics such as natural inertness and barrier properties. In recent years, the development of cheap bulk injection molding processes for the production of complex fluoropolymer products has further fueled the use of fluoropolymers instead of their counterparts. In addition, the inability of plastics to meet the stringent physical and biocompatibility necessities of advanced medical devices and drugs has prompted the healthcare companies to opt for fluoropolymers for their future endeavors.
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Further, the report states that one challenge in the market is pricing constraints. One of the crucial consumer-driven factors for selecting a material in end-user industries of fluoropolymers such as healthcare is the cost. The cost is one of the most important variables considered for deciding the feasibility of new products as the cost of the new material for replacement is always compared with the cost of the currently used one. The prices of fluoropolymer products have been volatile over the past few years. The prices of fluoropolymer products depend on many factors. The cost of a product includes three component, i.e., cost of raw materials, manufacturing value added to the products and the cost to design, and testing of the product. The fluctuating cost of raw materials has been the prime reason for the volatility of polymers.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
Covered in this report
The report covers the present scenario and the growth prospects of the global fluoropolymer market in the healthcare industry for 2016-2020. To calculate the market size, the report considers the revenue generated from the fluoropolymer market in the healthcare industry across regions has been considered for market size calculation.
The market is divided into the following segments based on geography:
Technavio’s report, Global Fluoropolymer Market in the Healthcare Industry 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
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