Fluoropolymers in Healthcare Market to See 9.6% Annual Growth Through 2024

Industry Boosted by New Applications

November 21, 2019

WELLESLEY, Mass., Nov.21, 2019–Increasing applications of PVDF in lithium-ion batteries and architectural coatings and the development of innovative products that require specialty packaging are two factors which drive growth of the global fluoropolymers in healthcare market, according to a report by BCC Research, “Fluoropolymers in Healthcare.”

The market expects to see a compound annual growth rate (CAGR) of 9.6% through 2024, when it could be worth $831.9 million.

Major players in the market include: Arkema SA (ARKAY), Asahi Kasei Corp. (AHKSY), The Chemours Co. (CC) and Solvay SA.

Research Highlights

  • Asia-Pacific will be the fastest-growing region; worth $165 million in 2018; it should reach $296.9 million in 2024, growing at a CAGR of 10.2%
  • The European market was worth $140.3 million in 2018 and is expected to reach $244.4 million by 2024, growing at a CAGR of 9.6%.
  • PTFE is the most widely used fluoropolymer in healthcare, accounting for a market share of 54.6% in 2018. Worth $260.5 million in 2018, the PTFE market should reach $443.9 million in 2024, at a CAGR of 9.2%.

Read the full report here: https://www.bccresearch.com/market-research/chemicals/fluoropolymers-healthcare-market-report.html

“Fluoropolymers are widely used in the packaging of pharmaceutical products such as medical liquids, tablets, pills and sprays,” write BCC Research analysts. “Because fluoropolymers offer improved moisture barrier properties, they are used in the blister packaging of sensitive pharmaceutical items such as pills and powders. This type of packaging extends the shelf life of dry-formulated products. Blister packaging is formed from multi-layered films with a lid-stock layer that is directly heat sealed to the fluoropolymer film.

The Dominance of PTFE

PTFE dominated the global fluoropolymer market in the healthcare industry in 2018, accounting for a share of 54.63%, the report adds. PTFE, a synthetic polymer of TFE, consists of long, linear polymer chains containing only carbon and fluorine atoms. This high-molecular-weight-compound is hydrophobic, non-stick, non-reactive, strong, self-lubricating and flame-resistant. It also has a low coefficient of friction and good weatherability. PTFE is available in granular, fine powder, aqueous dispersion and micronized powder forms.

Editors/reporters requesting analyst interviews should contact Sarah Greenberg at press@bccresearch.com.

Fluoropolymers in Healthcare( CHM138A )
Publish Date: Oct 2019    

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