Fluorinated Ethylene Propylene (FEP) Coatings Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

Fluorinated Ethylene Propylene (FEP) Coatings Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

The market for fluorinated ethylene propylene (FEP) coatings is projected to register a CAGR of less than 6% during the forecast period.

In 2020, COVID-19 negatively impacted the market. However, the market has now been estimated to have reached pre-pandemic levels and is expected to grow steadily in the future.

• The increasing demand from electronic appliances and the food processing sector is expected to dominate the market.
• On the other hand, rising environmental concerns and stringent EPA regulations are expected to hinder the growth of the market.
• In the coming years, the market is also expected to grow thanks to new applications in the optical fiber industry.
• North America dominated the market across the globe, with the largest consumption in countries such as the United States, Canada, etc.

• FEP coatings are one of the important coatings material in the electrical and Electronics industry as they can hold and transport the harsh chemicals used in the manufacturing process since FEP is an excellent insulator and an ideal option to provide electrical insulation while at the same time conferring chemical resistance when shrunk over wires.
• The integrated circuits of semiconductors are manufactured using processes such as photolithography, etching, cleaning, thin film deposition, and polishing.
• The FEP coatings are well suited for applications in the semiconductor industry where they are used in the manufacture of wafer carriers, tubing, fittings and pump parts which are optimal for transporting high-purity chemicals in semiconductor manufacturing.
• Special grades of FEP coatings are being developed to meet the rigorous demands of the semiconductor industry which is involved in the production of electronic equipment such as personal computers, cellular phones, LCD, plasma and LED displays.
• Globally, the demand for smartphones is increasing at a significant rate. According to the TelefonaktiebolagetLM Ericsson, the number of smartphone subscriptions accounted for 6,259 million in 2021 globally, compared to 5,924 million in the previous year. Moreover, the subscription is likely to reach 7,690 million over the next three years, thus enhancing the market growth.
• Morever, according to the Japan Electronics and Information Technology Industries Association (JEITA), Japan shipped 365 thousand units of Flat-panel-display TVs domestically in January 2023. Thus, boosting the market growth.
• All the aforementioned factors are likely to increase the demand for the FEP coatings market over the forecast period.

• The immense demand for fluorinated ethylene propylene (FEP) coatings is a consequence of the growing trends in electronics, fiber optics, food processing, chemical processing, and the oil and gas industries in the North American region.
• In North America, especially in the United States, the electronics industry is expected to grow significantly. The Consumer Technology Association predicted that retail sales of consumer electronics and technology in the United States would bring in 505 billion dollars in 2022, up from 461 billion dollars in 2021.
• Further, the growth of the food processing sector in North America is robust due to the excessive dependence of people on packaged food products and the strong foothold of the food processing companies. PepsiCo, Tyson Foods, and Nestle are large food processing companies operating in the region. thus boosting market growth.
• In March 2022, Nestlé announced its plans to invest USD 675 million in a new plant in Metro Phoenix, Arizona, the United States, to produce beverages, including oat milk coffee creamers, as consumer demand increases for plant-based products. The plant is expected to be operational in 2024. thus helping the market grow in the food processing sector.
• Thus, the increasing demand from various applications is likely to surge the demand for fluorinated ethylene propylene (FEP) coatings in the near future.

The fluorinated ethylene propylene (FEP) coatings market is partially fragmented in nature. Some of the major players in the market include AGC Inc., DAIKIN INDUSTRIES, Ltd., 3M, AFT Fluorotec Limited, The Chemours Company, etc., among others (in no particular order).

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