Huge Growth Potential In the Fluoropolymer Resin Market In India

fluoropolymer resin market

   Fluoropolymer Resin Market

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/.

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Fluoropolymer Resin Market In India – A Brief Overview

fluoropolymer resin marketFluoropolymer Resin Market In India

For those who are not so familiar with the term, “Fluoropolymers” are polymers materials that contain fluorine atoms in their chemical structures. The substances are characterized by a high resistance to solvents, acids and bases. The American industrial research chemist Roy.J.Plunkett in 1938 accidentally discovered these substances while he was trying to make a new CFC refrigerant; that’s when he observed that a cylinder filled with tetrafluoroethylene had stopped flowing and what came out was not gas but a powder which was nothing but the fluoropolymer. Since then the substance has found use in numerous products ranging from semiconductors and automotive fuel transport to even in NASA’s space shuttle.

Today the flouropolymer resin market in India is a huge industry that influences the lives of millions of people in various ways. Here’s a brief overview of the industry:

  • The biggest demand driver of Polytetrafluoro-ethylene (an industrial fluoropolymer) in India is the chemical processing industry unlike China where the demand drivers are wires and cables, non-stick cookware and industrial lined products.
  • These are used in lining of pipes, vessels, wire and cable industry, automotive, electrical switchgears, electronics, valves and other flow products.
  • PTFE – polytetrafluoro-ethylene is the most commonly used flouropolymer.
  • Industrial and consumer applications like non-stick cookware coating is very common in India.
  • Non-stick cookware manufacturers buy this product in large amounts.
  • The demand for the substance is primarily domestic in India.
  • The fluoropolymer resin market in India annually produces 2,500 tons of polymers with a growth of 6 to 7 percent p.a.
  • Dupont is, currently, leading the fluoropolymer resin market in India.
  • The polymers are also imported from China, GFL (Gujarat Fluorochemicals Limited) and other leaders.
  • The price for PTFE varies depending on global price trends and demand supply ratio with respect to China.
  • GFL (Gujarat Fluorochemicals Limited) in India has earned a significant share in the Indian market.
  • Current trends indicate that the Indian automotive industry and the pharma industry are emerging as the biggest demand drivers for the fluoropolymer resin in India.
  • Though filled with risks and policy restrictions, oil and gas exploration can also drive demand for PTFE in India.
  • There is also growth potential for fluoropolymers like PFA and FEP etc owing to the rapid growth in the automobile industry.
  • Pharmaceutical industry is the biggest consumer of these products.
  • Although the fluoropolymer market depends on the global market scenario, there is still great potential in the industry with value added applications.

Conclusion

India being one of the world’s largest economies is striving to ensure for its citizen safe and nutritious food, uninterrupted energy and state-of-the-art infrastructure to protect both people and the environment. This increasing need to make like better for the people is playing a significant role in driving the demand for the fluoropolymer resin market in India. Today, this global business has taken place as a billion dollar industry in India and is catering to wide varieties of sectors ranging from industries to household items. Consumers rely on the products made from fluoropolymers due to their unique benefits.

Currently, investors from around the world are frequently eyeing the market to gain huge profits. For more information on the fluoropolymer resin market in India, feel free to visit Merger Alpha at http://mergeralpha.com/.