Over the years, India has witnessed a rapid rise in the demand for fluoropolymer materials which is mainly driven by the rising demand for high-quality materials with favorable physical and chemical characteristics. The biggest consumers of the flouropolymers are electronics, pharmaceuticals, household goods, semiconductor industries and chemicals. Today, there is huge growth potential in the fluoropolymer resin market in India.
Owing to their high resistance to heat and pressure, the fluoropolymer resins find application in a variety of industries like jewelry making, industrial fabrics, medicines, etc. India still has a long way to go in terms of domestic production of fluoropolymers as it is still dependent on imports from China. However, the increased demand and the rising number of domestic manufacturers in India have now started attracting foreign investments too. The country is looking forward to produce its own self-sufficient fluoropolymer industry so as to reduce its dependency on the low-cost imported materials.
According to IFMFO (India fluoropolymer Market Forecast and Opportunities), the fluoropolymer resin market in India is expected to witness an annual growth rate of 9.5 percent by 2019. Till now, the one fluoropolymer material that has found maximum usage is the Polytetrafluoroethylene used in chemicals, medicines, electrical, etc.
Among the other frequently used fluoropolymers in India are Perfluoroalkoxy polymer resins (PFA), Fluorinated Ethylene Propylene (FEP) and Ethylene Chloro Trifluoroethylene (ECTFE). The PFA and ECTFE are special polymers used in wire and cable industry in India and are also among the biggest demand drivers for the fluoropolymer resin market in India.
Currently, some of the leading fluoropolymer suppliers in India include DuPont, 3M Innovative Properties Company, Gujarat Fluorochemicals Limited (GFL) and others. GFL is one of the largest share holders in the Indian fluoropolymer resin industry.
The on-going market trends and the emerging opportunities in the Indian fluoropolymer market are giving a clear indication of the future growth potential of the sector. For more information on the fluoropolymer resin market in India, feel free to visit us at Merger Alpha. We are a Southeast Asia focused network that connects business owners and investors with their strategic partners. Do visit our website at http://mergeralpha.com/.
Feel free to share your thoughts in the comment box given below.