The Market of Aerospace Fluoropolymers to grow beyond US$ 333.9 million by 2024
February 14, 2020
Aerospace Fluoropolymers Market Overview:
The market is projected to grow at a healthy rate over the next five years to reach US$ 333.9 million by 2024. Surging commercial and regional aircraft deliveries well supported by the increasing production rates of the next-generation aircraft (B787 and A350XWB) programs and growing demand for durable materials in order to reduce the maintenance cost are the major factors to the growth of the aerospace fluoropolymers market. Another trend that is the significantly impacting the growth of the aerospace fluoropolymers market is that aerospace engineers are looking out for materials that offer the combination of heat resistance and excellent dielectric stability for a broad range of fuels, solvents, corrosive chemicals.
Report Overview:
This new report from Stratview Research analyses the Aerospace Fluoropolymers Market over the trend period from 2013 to 2018 and forecast period from 2019 to 2024. The insights of the report shall enable informed decision making and strategy formulation for the near future to capitalize on the opportunities.
Salient Features of the Report
The Research Report offers an in-depth view of the market, its health and growth, the factors shaping the industry, the competitive dynamics and a glimpse of the future.
The following are the key features of the report:
- Strategic segmentation
- Market analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Detailed Competitive Rivalry landscaping
- Market trend and forecast analysis
- Future Growth Boulevards
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Aerospace Fluoropolymers Market Segment Insights:
Commercial aircraft: The growth engine
The market is segmented based on the aircraft type as commercial aircraft, regional aircraft, general aviation, helicopter, military aircraft, and UAV. Commercial aircraft is likely to remain the growth engine of the market during the forecast period. Increasing production rates of the key programs, such as B737 and A320 family; the market entry of new players, such as COMAC and Irkut; and the introduction of variants of existing and upcoming aircraft programs, such as B737 max, A320neo and COMAC C919, are likely to create a strong demand for fluoropolymers in the commercial aircraft segment in years to come.
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Dominance of: FKM and Wire & Cable
Based on resin type, the market is segmented as polytetrafluoroethylene (PTFE), ethylene tetrafluoroethylene (ETFE), fluorinated ethylene propylene (FEP), fluoroelastomer (FKM), and others. In terms of value, FKM is likely to remain the most dominant segment and it is likely to witness higher growth over the next five years, whereas, in terms of volume polytetrafluoroethylene (PTFE) is likely to remain the largest resin type in the market over the same period. FKM is gaining traction in the aerospace industry because of its non-flammability, low gas permeability and excellent resistance to ozone, weathering, and aging. It also has the excellent abrasion resistance and the ability to seal against hard vacuum, as low as 133 nano pascal (NPA).
Based on the component type, the market is classified as hoses & tubes, wires & cables, seals, films, coatings, and others. Wire & cable is likely to remain the most dominant and the second-fastest-growing component type in the market during the forecast period. In order to save weight, cost, and fuel, aircraft designers replaced mechanical and hydraulic systems with electrical systems (fly-by-wire technology), causing the amount of electrical power carried by the aircraft Electrical Wire & Interconnect System (EWIS) to almost double, which is likely to generate a good demand for fluoropolymers in segment during the forecast period. Seals application is projected to grow at the highest rate during the same period.
A highly/moderately/fragment consolidated Market
The key aerospace fluoropolymer manufacturing companies are The Chemours Company, Daikin Industries, Ltd., Honeywell International Inc., AGC Inc., Solvay S.A, The 3M Company, and Dongyue Group. Development in the materials to overcome poor weldability, low creep resistance, low radiation resistance, and high microvoid content; execution of mergers & acquisitions, and collaborations with OEMs for the joint development of fluoropolymers are some of the strategies adopted by the major players in order to gain competitive edge in the market.
The supply chain of this market comprises raw material suppliers, aerospace fluoropolymer manufacturers, intermediate product manufacturers, aerospace component manufacturers, and aerospace OEMs.
Regional Hegemony of North America
In terms of regions, North America is projected to remain the largest market during the forecast period. The USA is the growth engine of the North American aerospace fluoropolymers market. The country is the home of several major tier players, aeroengine OEMs, aircraft OEMs, airlines, MRO companies, and aircraft leasing companies. Mexico, a relatively petite market, is subject to attract some global as well as the North American players’ attention in years to come.
Asia-Pacific is likely to depict the highest growth during the forecast period. The region is likely to remain the most eye-catching market in the foreseeable future, mainly driven by upcoming commercial and regional aircraft, such as C919 and MRJ. Establishment of aircraft assembly facilities by Boeing and Airbus in China is likely to create further demand for fluoropolymers in the region.
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