(MENAFN- Comserve) Shibuya-ku, Tokyo, Japan, Japan, Sep 16, 2021, 08:10 /Comserve / -- Middle-East and Africa Fluoropolymers Market With Top Countries Data, Industry Analysis , Size, Share, Revenue, Prominent Players, Developing Technologies, Tendencies and Forecast
The Middle East & African fluoropolymer market is expected to register an estimated CAGR of over 5%. Some of the major factors driving the growth of the market studied are the superior chemical resistance and thermal characteristics of fluoropolymers and their increasing applications in a wide range of end-user industries, especially the oil and gas and chemical processing sectors in the Middle East & African region.
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- Hazardous working conditions are expected to hinder the growth of the market studied.
- Growing use of green and sustainable fluoropolymer is expected to create opportunities to the market growth in the coming years.
Key Market Trends
Polytetrafluoroethylene (PTFE) Segment to Drive the Fluoropolymers Market
- PTFE dominates the market in the fluoropolymer resin market due to its wide usage in various end-user industries.
- Polytetrafluoroethylene (PTFE) is a fully fluorinated polymer made by a polymerization of the monomer CF2=CF2 - tetrafluoroethylene (TFE). The products which have the ingredients of granular PTFE resin offer the superior properties of fluoropolymers, for example, retention of properties after service at 260℃, useful properties at -240℃, chemical inertness to nearly all industrial chemicals and solvents low friction and anti-stick surfaces.
- PTFE resin has outstanding dielectric properties and stable frequency and temperature. With moderate stiffness and high ultimate elongation, this product can be used to make tubes, sheets, rods, films and other articles, such as bearings, gaskets, pistons, and sliding bearings for bridges, etc.
- PTFE is resistant to attack from most chemicals and when combined with other fluoropolymers, such as FEP and PFA, it greatly enhances the life of the component. PTFE applied as a surface coating may increase the corrosion resistance of the component and can also be enhanced with the use of primers, other pre-treatments, such as plating and phosphating. Stud bolts and fasteners, valves, pumps, pipe clamps, and connectors benefit from these type of coatings.
- Thus, from the aforementioned points, we can see the continuous demand for fluoropolymers in the forecast period.
Saudi Arabia to Dominate the Market
- Saudi Arabia is one of the largest producers of oil and gas in the world. The demand for fluoropolymers is likely to increase with the rising investment in the oil and gas sector.
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- Saudi Arabia has emerged as a rapidly growing energy consumer in the Middle East region. The high national industrialization program, in addition to the rapid urbanization, has led to an increase in the power demand by 7-10%, year-on-year. Turbines, pumps, bearings, fans, compressors, gears, and hydraulic systems utilize a significant volume of fluoropolymer coatings in the power generation sector. Many new power generation projects are in the offing, which in turn, will result in a modest rise in the demand for fluoropolymer coatings in the country.
- There is an increase in the constructions of hotels, recreational facilities, and other public infrastructure in the country, to cater to the increasing number of tourists. Government initiatives, such as the Saudi Arabia Vision 2030 are expected to support the growth of the commercial building activities at significant growth, in the coming years. Growing construction activities in the country will increase the consumption of fluoropolymers in the country.
Competitive Landscape
The Middle-East and African fluoropolymers market is consolidated in nature. Strong backward integration of major manufacturers, such as Solvay, DuPont, and AGC creates a stiff competition in the market.
1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Drivers
4.1.1 Increasing Demand from the Electrical and Electronics Industry
4.1.2 Surging Demand from the Construction Industry
4.1.3 Other Drivers
4.2 Restraints
4.3 Industry Value Chain Analysis
4.4 Porters Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5 MARKET SEGMENTATION
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