Middle East Fluoropolymer Market Size

Statistics for the 2023 & 2024 Middle East Fluoropolymer market size, created by Mordor Intelligence™ Industry Reports. Middle East Fluoropolymer size report includes a market forecast to 2029 and historical overview. Get a sample of this industry size analysis as a free report PDF download.

INSTANT ACCESS

Market Size of middle east fluoropolymer Industry

Single User License

$4750

Team License

$5250

Corporate License

$8750

Book before:
Middle East Fluoropolymer Market Summary
share button
Icons Lable Value
https://s3.mordorintelligence.com/study%20period/1629296433432_test~study_period_study_period.svg Study Period 2017 - 2029
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg Market Size (2024) USD 29.87 Million
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg Market Size (2029) USD 42.36 Million
https://s3.mordorintelligence.com/hydraulic_fluids/1629285650767_test~hydraulic_fluids_hydraulic_fluids.svg Largest Share by End User Industry Automotive
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg CAGR (2024 - 2029) 7.24 %
https://s3.mordorintelligence.com/globe/1629285706162_test~globe_globe.svg Largest Share by Country Saudi Arabia

Major Players

major-player-company-image

*Disclaimer: Major Players sorted in no particular order

Key Players

WHY BUY FROM US?

1. CRISP & INSIGHTFUL
2. TRUE BOTTOM-UP
3. EXHAUSTIVENESS
4. TRANSPARENCY
5. CONVENIENCE

Single User License

$4750

Team License

$5250

Corporate License

$8750

Book before:

Middle East Fluoropolymer Market Analysis

The Middle East Fluoropolymer Market size is estimated at 29.87 million USD in 2024, and is expected to reach 42.36 million USD by 2029, growing at a CAGR of 7.24% during the forecast period (2024-2029).

share button

29.87 Million

Market Size in 2024 (USD)

42.36 Million

Market Size in 2029 (USD)

4.89 %

CAGR (2017-2023)

7.24 %

CAGR (2024-2029)

Largest Market by End-user Industry

16.76 %

value share, Automotive, 2023

Icon image

Automotive is the largest end-user industry segment owing to its rising usage of fluoropolymers for their superior characteristics, such as being lightweight and having high impact resistance.

Fastest Growing Market by End-user Industry

8.09 %

Projected CAGR, Aerospace, 2024-2029

Icon image

The aerospace industry is forecast to be the fastest-growing market segment over the forecast period due to the increasing usage of high-performance coatings along with films for protecting equipment.

Largest Market by Sub Resin Type

51.31 %

value share, Polytetrafluoroethylene (PTFE), 2023

Due to the high demand from the food and beverage, construction, and chemical processing and manufacturing industries, PTFE held the largest share of the market.

Largest Market by Country

24.80 %

value share, Saudi Arabia, 2023

Icon image

Saudi Arabia is one of the major emerging economies in the Middle Eastern region and has several prominent chemical industries where fluoropolymer is consumed. Thus, the country accounts for the largest share of the market.

Leading Market Player

28.12 %

market share, Arkema, 2022

Icon image

Arkema holds the largest share by revenue in the Middle Eastern market due to its huge distribution network in the region and the popularity of its fluoropolymer product portfolio.

Aerospace and automotive industries to create opportunities for the market

  • Fluoropolymers have applications in oil and gas, semiconductor and electronic, chemical processing, automotive, wire and cable, building, aerospace, and pharmaceutical sectors. The Middle Eastern fluoropolymer market is led by the building and construction and automotive industries, accounting for 9.75% and 39.96% shares in 2021 in terms of revenue.
  • The building and construction industry is the largest consumer of fluoropolymers in the region. It held a share of 11.4% of the Middle Eastern fluoropolymer market in 2022 by volume. The region's new floor area is expected to reach 4.9 billion sq. ft by 2029 from 4.2 billion sq. ft in 2022, which is expected to drive the demand for fluoropolymers in the coming years.
  • The automotive industry is the second-largest consumer of fluoropolymers in the region, accounting for 25.58% of the consumption share in 2022 by volume. The industry witnessed a 32.8% increase in the production of vehicles by volume in 2022 compared to 2021. The increased consumption of fluoropolymers in lithium-ion batteries, the main components of an EV, is expected to drive the market during the forecast period.
  • The aerospace industry is expected to be the fastest-growing industry in the region in terms of revenue, with a CAGR of 8.42% during the forecast period (2023-2029). This growth can be attributed to the fluoropolymer component's ability to withstand the aggressive etching process and provide the necessary purity required to produce microchips and other electronics used in the aerospace industry. It is also used in the coatings of various aerospace components as it can withstand extreme temperatures and resist corrosion.
Middle East Fluoropolymer Market

Investments in UAE to boost the demand for fluoropolymer

  • Fluoropolymers are used in the Middle East for applications such as coatings and liners for industrial machinery, automotive, and many others. The fluoropolymers market in the region is dominated by Saudi Arabia and the United Arab Emirates, with a share of 0.83% of the revenue of the global overall fluoropolymers market.
  • Saudi Arabia is the largest consumer in the regional fluoropolymer market, with a share of 25.69% by a value in major applications in the aerospace, automotive, and industrial machinery sectors due to increasing demand. The rise in the production of automobiles drives the fluoropolymer market in Saudi Arabia, which contributed a 1.13% share of the overall region in 2022.
  • The United Arab Emirates is the second-largest consumer in the Middle Eastern fluoropolymer market, with a share of 6.06% of the revenue in 2022. With a CAGR of 8.71% in terms of revenue from electronics production in the country, the demand for fluoropolymers in the United Arab Emirates is likely to increase during the forecast period.
  • The Rest of the Middle East segment is one of the largest markets in the Middle East, with a share of 58.8% by value of the fluoropolymer market due to the rise in automotive production. Automotive production in the Rest of Middle East has a share of 98.4% in the overall Middle Eastern region.
  • The United Arab Emirates is the fastest-growing country in the region, with an expected CAGR of around 7.06% by revenue during the forecast period. This growth is expected to be a result of the plans for investment in the United Arab Emirates' financial hub to double the size of its economy by 2033, accounting for USD 8.7 trillion in economic development technology sectors through innovation.

Middle East Fluoropolymer Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2029