Fluoropolymers Market

The article provides a comprehensive analysis of the global fluoropolymers market, projecting an upward consumption trend over the next eight years. Key insights include forecasted growth rates, market volume, value projections, consumption patterns, production trends, import-export data, and key players in the industry. China emerges as the largest consumer and producer of fluoropolymers, with other major players like the United States, India, and Japan making significant contributions to the market. Price trends and growth rates for both imports and exports are also discussed, highlighting key countries and their respective positions in the global fluoropolymers market.

Market Forecast

Driven by rising demand for fluoropolymers worldwide, the market is expected to start an upward consumption trend over the next eight-year period. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +0.7% for the period from 2022 to 2030, which is projected to bring the market volume to 802K tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.0% for the period from 2022 to 2030, which is projected to bring the market value to $13B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Fluoropolymers

In 2022, the amount of fluoropolymers consumed worldwide reduced modestly to 758K tons, remaining stable against 2021 figures. Over the period under review, consumption saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the consumption volume increased by 6.4%. Over the period under review, global consumption reached the maximum volume at 804K tons in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

The global fluoropolymers market size stood at $10.2B in 2022, with an increase of 3.6% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 8.3% against the previous year. Global consumption peaked at $10.3B in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Consumption By Country

China (189K tons) remains the largest fluoropolymers consuming country worldwide, comprising approx. 25% of total volume. Moreover, fluoropolymers consumption in China exceeded the figures recorded by the second-largest consumer, India (63K tons), threefold. The United States (55K tons) ranked third in terms of total consumption with a 7.2% share.

In China, fluoropolymers consumption shrank by an average annual rate of -1.7% over the period from 2012-2022. In the other countries, the average annual rates were as follows: India (+1.1% per year) and the United States (+0.9% per year).

In value terms, the largest fluoropolymers markets worldwide were China ($1.9B), the United States ($1.1B) and Germany ($585M), together comprising 35% of the global market. India, Japan, Brazil, Mexico, South Korea, Canada, Italy, Nigeria, Turkey and Russia lagged somewhat behind, together accounting for a further 31%.

South Korea, with a CAGR of +5.8%, saw the highest rates of growth with regard to market size in terms of the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of fluoropolymers per capita consumption in 2022 were Italy (373 kg per 1000 persons), Canada (333 kg per 1000 persons) and Germany (315 kg per 1000 persons).

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of +5.0%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Fluoropolymers

Global fluoropolymers production reduced to 757K tons in 2022, flattening at the year before. In general, production, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the production volume increased by 7%. Global production peaked at 789K tons in 2019; however, from 2020 to 2022, production failed to regain momentum.

In value terms, fluoropolymers production reduced to $9.5B in 2022 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the production volume increased by 9.8%. Over the period under review, global production hit record highs at $10.2B in 2012; however, from 2013 to 2022, production remained at a lower figure.

Production By Country

China (226K tons) remains the largest fluoropolymers producing country worldwide, comprising approx. 30% of total volume. Moreover, fluoropolymers production in China exceeded the figures recorded by the second-largest producer, India (72K tons), threefold. The United States (48K tons) ranked third in terms of total production with a 6.3% share.

From 2012 to 2022, the average annual growth rate of volume in China was relatively modest. The remaining producing countries recorded the following average annual rates of production growth: India (+2.3% per year) and the United States (-1.2% per year).

Imports

World Imports of Fluoropolymers

In 2022, purchases abroad of fluoropolymers increased by 0.4% to 254K tons, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of +3.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 23%. Global imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, fluoropolymers imports surged to $5.3B in 2022. In general, total imports indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +71.1% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 35% against the previous year. Global imports peaked in 2022 and are expected to retain growth in the near future.

Imports By Country

In 2022, the United States (40K tons), followed by Italy (26K tons), China (26K tons), Germany (25K tons) and South Korea (18K tons) represented the key importers of fluoropolymers, together achieving 53% of total imports. The following importers - Belgium (11K tons), Japan (11K tons), Mexico (8.3K tons), Taiwan (Chinese) (8K tons), India (6.9K tons), France (5.8K tons), Brazil (5.8K tons) and the Netherlands (4.7K tons) - together made up 24% of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +7.6%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($852M), China ($585M) and Germany ($584M) constituted the countries with the highest levels of imports in 2022, together comprising 38% of global imports. South Korea, Japan, Italy, Taiwan (Chinese), Belgium, France, Brazil, Mexico, India and the Netherlands lagged somewhat behind, together comprising a further 42%.

Taiwan (Chinese), with a CAGR of +10.1%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average fluoropolymers import price stood at $20,948 per ton in 2022, picking up by 26% against the previous year. Over the last decade, it increased at an average annual rate of +1.8%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Japan ($35,594 per ton), while Italy ($13,002 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+5.1%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Fluoropolymers

In 2022, shipments abroad of fluoropolymers increased by 1.9% to 253K tons, rising for the second year in a row after two years of decline. The total export volume increased at an average annual rate of +4.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when exports increased by 29%. The global exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, fluoropolymers exports soared to $5.3B in 2022. Overall, total exports indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +81.3% against 2020 indices. The growth pace was the most rapid in 2021 when exports increased by 44%. Over the period under review, the global exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports By Country

In 2022, China (62K tons), distantly followed by the United States (33K tons), Japan (28K tons), France (22K tons), Germany (20K tons), Italy (17K tons), India (16K tons) and the Netherlands (16K tons) were the major exporters of fluoropolymers, together generating 85% of total exports.

From 2012 to 2022, the biggest increases were recorded for France (with a CAGR of +51.7%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, China ($1.1B), Japan ($797M) and the United States ($727M) appeared to be the countries with the highest levels of exports in 2022, with a combined 49% share of global exports. France, Italy, the Netherlands, Germany and India lagged somewhat behind, together accounting for a further 40%.

France, with a CAGR of +52.0%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2022, the average fluoropolymers export price amounted to $20,916 per ton, surging by 24% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.8%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($28,247 per ton), while India ($15,431 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+4.2%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform