Market Trends of FEVE Fluoropolymer Coatings Industry
This section covers the major market trends shaping the FEVE Fluoropolymer Coatings Market according to our research experts:
Building and Construction – Fastest Growing Application Sector
- FEVE coatings used are crucial to the building and construction sector, to impart protection against elements of nature, corrosion, abrasion, and impact.
- FEVE coatings can be used on steel and other metallic substrates, such as aluminum, copper, zinc, and other metals. It is also suitable for concrete surfaces.
- Currently, the building and construction industry is a thriving industry in several emerging economies of the Asia-Pacific and North American regions. This is going to drive the usage of FEVE coatings, like roof coatings, which also provide energy savings through solar reflectance and reduction of heat transfer into buildings, along with preventing infrastructure failures.
- Factors, such as ever-increasing population and rapid urbanization, and rise in purchasing power, are driving the building and construction industry. As a result, investments in infrastructure are in plans.
- The non-residential construction segment, which highly uses FEVE resins, is also growing, as players are looking to shift their manufacturing bases to the Asia-Pacific region, with manufacturing plants being introduced.
- Thus from the points mentioned above the building and construction applications are expected to increase the demand for the FEVEfluoropolymer coatings market during the forecast period.
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Asia-Pacific to Witness Strong Demand
- Asia-Pacific is estimated to witness healthy growth over the assessment period, in the FEVE fluoropolymers market, due to the wide usage of fluoropolymer coatings in numerous end-use application segments, due to their desirable properties.
- Asia-Pacific is the biggest market, with China in the lead, followed by Europe and North America. Although costly, and with Asia-Pacific being a cost-sensitive market, the demand for FEVE fluoropolymer coating is expected to surge in various countries of the region, such as India, Japan, and South Korea.
- This surge in demand is due to increasing construction activities, along with a high adoption rate from various end-user industries, as they decrease the number of recoats and have a lifespan of 20+ years.
- Moreover, many big global players are shifting their manufacturing units to Asia-Pacific, due to the availability of raw materials and cheap labor costs.
- Hence, FEVE fluoropolymer coatings are going to have a good market base, as companies invest in infrastructure and manufacturing hubs for various industries, ranging from automotive, building and construction, etc.
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