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The rise in the research activities that require the use of lab equipment and applications like tubing is also driving the Perfluoroalkoxy Market growth.
HYDERABAD, TELANGANA, INDIA, November 25, 2022 /einpresswire.com / -- IndustryARC, in its latest report, predicts that perfluoroalkoxy market size is expected to be valued at US$265.2 million by the end of the year 2026 and is set to grow at a CAGR of 4.2% during the forecast period from 2021-2026. The perfluoroalkoxy market is growing due to the increase in demand from the chemical processing industry, as perfluoroalkoxy contains hexafluoropropylene, which has excellent thermal resistance and is also highly resistant to mechanical shocks. Perfluoroalkoxy is also made of fluoro polymer, which is used for plastic lab equipment due to its extreme resistance to chemical attack, optical transparency, and flexibility and is also used in tubing for handling highly corrosive fluids and sheet linings, which is one of the significant factors driving the perfluoroalkoxy market. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.
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Key takeaways:
This IndustryARC report on the Perfluoroalkoxy Market highlights the following areas -
1. The Middle East region is projected to witness a significant growth during the forecast period in the perfluoroalkoxy market owing to the growth in the building and construction sector, which is further fuelling the need for wires & cables and coatings.
2. The increase in the use of hexafluoropropylene processed perfluoroalkoxy in chemical processing industry is one of the main factors driving the perfluoroalkoxy market.
3. The covid-19 pandemic has affected the perfluoroalkoxy industry in adverse ways disrupting the production and supply chain activities of the market, leading to the slowdown in the growth of the perfluoroalkoxy market.
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Segmental Analysis:
1. The pellets segment held the largest share of more than 25% in the perfluoroalkoxy market in the year 2020. Pellet have excellent dielectric properties, which is used in semi-conductor applications, making it a preferred type of perfluoroalkoxy in the electronics and electrical industry.
2. Asia-Pacific region held the largest share of more than 35% in the perfluoroalkoxy market in the year 2020. The increase in the building and construction industry in countries like China, India, and Japan drives market growth as it is used for the piping and fittings in the buildings, mostly for its anti-corrosion and chemical resistant linings in the pipes and carriages.
3. Tubes segment held the largest share of more than 30% in the perfluoroalkoxy market in the year 2020. Perfluoroalkoxy is extensively used in the tubing apparatus and other applications of the research industry to handle highly volatile and corrosive chemicals, due to its properties like resistance to chemicals and mechanical shocks.
4. Chemical and Petro-Chemical industry held the largest share of more than 25% in the perfluoroalkoxy market in the year 2020. Perfluoroalkoxy is extensively used in the chemical processing industry for various applications like heat exchanger tubing, lining & trace heating cables, and convoluted tubing, which is driving the demand for perfluoroalkoxy in the chemical processing industry.
Competitive Landscape:
The top 5 players in the Perfluoroalkoxy Industry are -
1. AMETEK Inc.
2. Saint Gobain Performance Plastics
3. Li Chang Technology (Ganzhou) Co. Ltd.
4. Holscot Fluoroplastics
5. Alpha Chemical Ltd.
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