The Fluorinated Ethylene Propylene Market is set to grow from its current market value of more than USD690 million to over USD1.2 billion by 2025, as reported in the latest study by Global Market Insights, Inc.
Use of Adhesives & Sealants in Constructions Boosts FEP Demand
Rising demand for high-value compact & small-sized cars and SUVs owing to a growing middle class and rising disposable incomes should stimulate fluorinated ethylene propylene market size. This product finds widespread usage in tubing, pressure hoses and bellows it is well-suited for processing at low & high temperatures which makes it resistant to fire & explosion. Rapid development of road infrastructure along with launch of low-cost car models and urbanization are likely to boost passenger car market growth, further stimulating FEP market demand.
Global FEP powder market size should surpass 9 kilo tons by 2025. These high-performance powders provide high melt fluidity, provide a smooth & chemical resistant finish to the end use product making it suitable for cookware and other applications. Growing product demand for automotive ball bearings, and paints, adhesives and sealants in construction industry should further accelerate fluorinated ethylene propylene market growth.
Expansion of Chemical Industry affects FEP Market Rise
U.S. fluorinated ethylene propylene films market size from composite molding applications may register over 7% gains till the end of 2025 majorly owing to its non-stick surface and ability to create a smooth finish. Booming aerospace industry where molding composites help reduce aircraft weight to improve fuel efficiency should stimulate FEP market as it is significantly resistant to wear & tear, conformability to uneven shapes and melt processability.
Fluorinated ethylene propylene tubes market size from chemical processing applications should register over 6% gains by the end of the predicted period.
It provides:
- High tensile strength
- Low temperature resistance
- Low coefficient of friction
All this makes it ideal for chemical processing applications. Significant expansion of chemical & petrochemical industry, investment in oil & gas exploration and growth of automotive sector in China, South Korea and India should further stimulate fluorinated ethylene propylene market growth.
Germany fluorinated ethylene propylene films market size from solar panel applications is poised to exceed USD 1.4 million up to 2025. They form ideal protective front sheets for solar modules pertaining to their smooth, light-weight, flexible and long lasting nature. These are less fragile and light weight which improves their durability and life span, thus improving their attractiveness as compared to traditional glass. Increasing prevalence for energy efficiency owing to a European Union directive directing all member countries to source 20% of their energy requirements from renewable sources should further stimulate market growth.
Source: Global Market Insights