iCrowd Newswire – Jul 16, 2020
Ethylene Tetrafluoroethylene Market size is forecast to reach $589.96 million by 2025 after growing at a CAGR of 7% during 2020-2025. Ethylene tetrafluoroethylene is a fluorine-based plastic that comprises tetrafluoroethylene and ethylene. Being a thermoplastic fluoropolymer, ethylene tetrafluoroethylene consists of carbon, fluorine, and hydrogen elements and exhibits high tensile strength. The growth of the market is expected to be driven by the high demand of ethylene tetrafluoroethylene from the construction sector.
By Product– Segment Analysis
The Granule segment held the largest share in the ethylene tetrafluoroethylene market in 2019. Granules of ethylene tetrafluoroethylene exhibit good mold ability and non-stick characteristics therefore, it is widely used in the acid-resistant and alkali-resistant injection products, electric wires & cables, valve lining, and spray painting. Ethylene tetrafluoroethylene in granular form is extruded into films & sheets and wires & cables, which are then used by various industries such as automotive, aerospace, and chemical processing. The excellent tear propagation resistance and extremely high resistance to the outdoor weathering offered by them, make ethylene tetrafluoroethylene granules suitable for the production of architectural and other films. This factor will drive the growth of ethylene tetrafluoroethylene market in the forecast period.
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By Technology– Segment Analysis
The Injection Molding technology segment held the largest share in the ethylene tetrafluoroethylene market in 2019. It is a quick process to create a mass amount of identical plastic parts. The flexibility in shape and size achievable by the use of injection molding has consistently widened the boundaries of design in plastics and allowed substantial alternatives of traditional materials due to design freedom and light weight. Ethylene tetrafluoroethylene resins can be processed at a wide range of temperatures due to their improved thermal stability and low melting points using the conventional injection molding techniques. Injection molding is a manufacturing process commonly used for fabricating items from plastic trinkets and toys to automotive body parts, cell phone cases, water bottles, and containers. Essentially many of the plastic parts that we use in every-day life are injection molded.
By Application – Segment Analysis
Coating segment held the largest share in the ethylene tetrafluoroethylene market in terms of application. Ethylene tetrafluoroethylene based coatings are highly durable and weather able, last for around 30 years, which is far longer than traditional paints or coatings (10 years for conventional coatings) and can be cured at room temperature, which makes them ideal for outdoor and on-site applications. Moreover, the ethylene tetrafluoroethylene is recyclable and does not cause any hazardous emissions in the environment, thus making it suitable use in buildings. Insulations segment held the second largest share in the ethylene tetrafluoroethylene market. Ethylene tetrafluoroethylene-based insulations are commonly used in medical and scientific instruments. Increasing consumer awareness regarding energy conservation is estimated to driving the growth of Insulation segment. Factors such as integration of renewable energy sources, expansion of the existing infrastructure and deployment of electric vehicle charging stations are expected to drive the insulation market which will further drive the growth of ethylene tetrafluoroethylene market in the forecast period.
By End User – Segment Analysis
Building and Construction sector is the primary market for the ethylene tetrafluoroethylene in 2019 growing at CAGR of 8.5%. Many of the commercial buildings in the United States and China are incorporating ethylene tetrafluoroethylene to provide an easy adjustment of coatings in the buildings as per requirement. The growth of ethylene tetrafluoroethylene can be taken as directly proportional to the growth of building and construction industry. By 2020, construction output is estimated to grow by 70% to $12.7 trillion and will account for 14.6% of the world output with some of the larger emerging markets such as China, India, Russia, Brazil and Poland driving growth, along with U.S. Global GDP growth of 3.5% and 3.6% is expected in 2017 and 2018 respectively however the meteoric growth that outpaces global GDP will be concentrated in countries like China, India and U.S. India will overtake Japan as the third-largest construction market with annual growth averaging 7.4% annually in construction. This factor will drive the growth of ethylene tetrafluoroethylene market in the forecast period. The disruption of COVID-19 has almost certainly impacted the prices of construction products and materials. The impact of COVID-19 on construction sector can be spotted till year 2020 followed by which the industry will have persistent growth during forecast period.
Geography – Segment Analysis
North America dominated the ethylene tetrafluoroethylene market growing at CAGR of 41% followed by Europe and APAC. The economy of North America is mainly influenced by the economic dynamics of countries such as USA and Canada, but with growing foreign direct investment for economic development of North America, the current scenario is changing. Countries in North America are witnessing high growth in the automotive sector. According to International Organization of Motor Vehicle Manufacturers the total production of automobile (commercial as well as Personal) globally in the year 2019 was 91,786,861 units compare to 96,869,020 units in 2018. The increase in the global automobile production is a major factor leading to the growth of ethylene tetrafluoroethylene market in the forecast period.
Drivers –Ethylene Tetrafluoroethylene market
Demand for the lightweight and durable materials in the automotive and construction sector
The increase in global automotive industries is a major factor which influence the growth of the ethylene tetrafluoroethylene market. Ethylene tetrafluoroethylenes have the property that can handle a variety of temperatures and weather conditions, making it popular in the automotive industry. It is typically used in brake systems and for brake wear sensors. Additionally, the material is used to coat wiring for oxygen systems and is sometimes used in heating and cooling systems. In the construction sector, ethylene tetrafluoroethylene is used as a popular building material. Ethylene tetrafluoroethylene is extremely durable, highly translucent, and can easily be molded in a variety of shapes. Its ability to withstand extreme temperatures and harsh weather makes it especially popular for roofing. Because of the material’s durability, ethylene tetrafluoroethylene roofs rarely need replacing. These factors are driving the ethylene tetrafluoroethylene market in the forecast period.
Recyclable properties of Ethylene Tetrafluoroethylene
Ethylene tetrafluoroethylene products are eco-friendly in nature, they do not emit VOC while in production phase. Therefore, the demand for ethylene tetrafluoroethylene is rising from various end-use industries. The constructed materials from ethylene tetrafluoroethylene, after their completing life can be recycled and reused. These factors will drive the growth of the market in the forecast period.
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Challenges – Ethylene Tetrafluoroethylene market
Ethylene Tetrafluoroethylene materials constructed buildings transmits higher level of sound
Ethylene tetrafluoroethylene is not a natural building material, it is a plastic, after all. That is why ethylene tetrafluoroethylene materials constructed buildings, transmits more sound than glass, and can be too noisy for some places. Ethylene tetrafluoroethylene is usually applied in several layers that must be inflated and require steady air pressure. Depending on how the architect has designed it, the look of a building could drastically change if the machines that supply the pressure fail. As a relatively new product, ethylene tetrafluoroethylene is only used in large commercial ventures. Therefore, working with ethylene tetrafluoroethylene is too complex for small residential projects.
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the ethylene tetrafluoroethylene market. Major players in the ethylene tetrafluoroethylene market rare AGC Inc., Daikin Industries, 3M, Hubei Everflon Polymer Co Ltd, Li Chang Technology and Others.
Acquisitions/Technology Launches/ Product Launches
In September 2019, AGC Inc., established a new production plant of ethylene tetrafluoroethylene in China to produce large 3D/Complex-shaped Cover Glass for Car-mounted Displays. The facilities feature a fully integrated production line, equipped with the latest technologies, that handles every stage of the process from optical thin coating to decorative printing and composite molding of complex curved surfaces.
North America dominates the ethylene tetrafluoroethylene market owing to increasing demand from automotive industry.
A shift from conventional photovoltaic panels to ethylene tetrafluoroethylene photovoltaic panels in the photovoltaic industry will drive the growth of market in the forecast period.
Acoustic transparency of ethylene tetrafluoroethylene will hinder the growth of the market in the forecast period.
Related Reports :
A. Ethylene Copolymers Market
B. Ethylene Dichloride Market
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