Automotive Fluoropolymers Market to Reach US$ 1.4 Billion in 2024, Says Stratview Research

DETROIT, Sept. 19, 2019 /PRNewswire/ -- Stratview Research announces the launch of a new research report on Automotive Fluoropolymers Market By Vehicle Type (Passenger Car, Light Commercial Vehicle, and Medium- & Heavy-Duty Commercial Vehicle), by Product Type (PTFE, FKM, PVDF, and Others), By System Type (Powertrain, Fuel System, Air Management System, and Others), By Application Type (Seals, Hoses, Gaskets, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2019-2024.

Stratview Research expands its unmatched capabilities in polymers' research by publishing first of its kind report on automotive fluoropolymers, discussing the current market realities, future market possibilities, changing market dynamics, and competitive landscapes of fluoropolymers in the automotive industry. This 265-page automotive fluoropolymers market report includes both, fluoropolymers as well as fluoroelastomers, and portrays a complete 360-degree view of the market, covering 12-year analysis (trend period: 2013-2018 and forecast period 2019-2024) in terms of both, value and volume. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of low-hanging fruits available in the market as well as formulate the growth strategies.

Automotive Fluoropolymers Market: Research Highlights

Rising global temperature, changing customer requirements, introduction of stringent government regulations regarding safety and emission reductions, and rising traffic congestion are some of the factors that are compelling all the industries to build more sustainable business environments. The impact of these factors has been the most on the automotive industry, with this decade being the most disruptive one with several megatrends collectively transforming the industry. Among many megatrends, the most noticeable ones are autonomous, emission-free mobility, fuel efficiency, sharing, and connected vehicles. Today, almost all the major automakers are putting efforts for the development of vehicles addressing most of these trends. 

Among these megatrends, development of fuel-efficient vehicle is equally imperative which has efficaciously been being unraveled by automakers by making essential changes in the materials, vehicle design, geometry, aerodynamics, etc. They have been meticulously leveraging the potential of fluoropolymers in the critical sections of vehicle in order to address the tightening carbon emission standards of government or regulatory authorities regarding fuel efficiency enhancements.

Currently, the automotive industry accounts for merely 15% of the total fluoropolymers consumption in terms of volume; however, the industry is indisputably one of the fastest-growing end-use segments of fluoropolymers, outpacing the average industry growth. It is estimated that this growth momentum is likely to maintain in the foreseen future, assisting the market to reach a value of US$ 1.4 billion by 2024. Increasing global automobile production, increasing requirement of high-temperature-resistant materials because of engine downsizing, and increased demand for lightweight materials to address the stringent emission regulations are creating a healthy demand for fluoropolymers in the automotive industry.

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Passenger car is expected to remain the largest vehicle type segment of the market over the next five years. The vehicle type is also likely to witness the highest growth during the same period. Large production of cars coupled with high penetration of fluoropolymers has led to the huge dominance of the segment in the market. 

Based on the product type, the market is segmented as PTFE, FKM, PVDF, and others. PTFE is likely to remain the most dominant fluoropolymer type consumed in the automotive industry during the forecast period, whereas FKM is likely to witness the highest growth during the same period. FKM is a preferred choice of material in various fuel system applications, such as fuel cap main seal, fuel rail seal, fuel filler hose, fuel pump seal, and fuel injector seals.

Based on the system type, fuel system is the major application area of fluoropolymers and is likely to maintain their dominance in the market in years to come, whereas air management system is likely to be the fastest-growing segment of the market during the same period. The key applications of air management system such as turbocharger hose, SCR injector seal, turbocharger hose seal, and EGR stem seal, are experiencing significant growth; thereby, pushing the growth of the segment.

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In terms of region, Asia-Pacific is projected to remain the largest automotive fluoropolymers market during the forecast period in terms of both value and volume. China and India are the growth engines of the Asia-Pacific's market. North America and Europe, the next two major markets, are likely to generate sizeable growth opportunities in the coming five years.

The Chemours Company, Daikin Industries Limited, The 3M Company, Solvay S.A, AGC Inc., Arkema SA, Dongyue Group Co., Ltd., and Honeywell International Inc. are well-known fluoropolymer manufacturers for the automotive industry. New product development, advancements in automotive fluoropolymers properties, and collaboration with OEMs or tier players are the key strategies adopted by the major players to gain a competitive edge in the market. 

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis
• Market environment analysis: Growth drivers and constraints, Porter's five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors

This report studies the global automotive fluoropolymers market and has segmented the market in five ways, keeping in mind the interest of all the stakeholders across the value chain. Following are the five ways in which the market is segmented:

Automotive Fluoropolymers Market by Vehicle Type:

• Passenger Car (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• LCV (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• M&HCV (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Automotive Fluoropolymers Market by Product Type:

• PTFE (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• FKM (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• PVDF (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Automotive Fluoropolymers Market by System Type:

• Powertrain System (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Fuel System (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Air Management System (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Automotive Fluoropolymers Market by Application Type:

• Seals (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Hoses (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Gaskets (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Other Applications (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Automotive Fluoropolymers Market by Region:

• North America (Country Analysis: USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, The UK, Italy, Russia, and Rest of Europe)
• Asia-Pacific (Country Analysis: Japan, China, South Korea, India, and Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Brazil, Argentina, and Others)

Stratview Research has several high value market reports in the global automotive industry. Please refer to the following link to browse through our reports:
Click Here for Other Reports from Stratview Research in the Automotive Industry: https://www.stratviewresearch.com/market-reports/Automotive-Transportation.html

Some of our other related premium reports in the automotive industry:
Automotive Gasoline EGR Systems Market by Vehicle Type (Passenger Car and Commercial Vehicle), by Pressure Type (High-Pressure EGR and Low-Pressure EGR), and by Region (North America, Europe, Asia-Pacific, and Rest of World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2019-2024.
Automotive Charge Air Cooler (CAC) Market by Vehicle Type (Passenger Car, LCV, and M&HCV), by Product Type (Air-Cooled Charge Air Cooler and Liquid-Cooled Charge Air Cooler), by Position Type (Standalone CAC and Integrated CAC), by Fuel Type (Gasoline and Diesel), and by Region (North America, Europe, Asia-Pacific, and Rest of World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2018-2023.
Automotive Air Intake Manifold (AIM) Market by Vehicle Type (Passenger Car, Light Commercial Vehicle, and Medium- & Heavy-Duty Commercial Vehicle), by Manifold Type (Standard AIM and Variable AIM), by Material Type (Composites [Lost Core, Shell, and Others], Aluminum, and Others), by Manufacturing Process (Injection-Molded AIM and Casting-based AIM), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2018-2023.

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