APAC Tops the Global Fluoropolymer Market in Healthcare Industry | Technavio

LONDON–(BUSINESS WIRE)–#Polymers–The latest market research report by Technavio
on the global fluoropolymer market in the healthcare industry predicts a
CAGR of more than 7% during the period 2017-2021.

The report segments the global
fluoropolymer market in the healthcare industry by product
(polytetrafluoroethylene and others), by application (pharmaceutical
packaging, medical devices, and drug delivery), and by geography (APAC,
North America, Europe, and ROW). It provides a detailed illustration of
the major factors influencing the market, including drivers,
opportunities, trends, and industry-specific challenges.

Here are some key findings of the global fluoropolymer market in the
healthcare industry, according to Technavio chemicals
and materials researchers:

• Fluoropolymers increasingly replacing other plastics: a major market
  driver
• In 2016, PTFE dominated the global fluoropolymer market in healthcare
  industry, accounting for a market share of close to 55%
• APAC dominated the global fluoropolymer market in healthcare industry
  with a share of close to 35% in 2016
• 3M (Dyneon), Asahi Glass, Daikin Industries, Honeywell International,
  and The Chemours Company are the leading players in the market

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Fluoropolymers increasingly replacing other plastics: a major market
driver

One of the major factors driving the global fluoropolymer
market in the healthcare industry is the increasing replacement of
other plastics by fluoropolymers. The consumers in the healthcare
industry are choosing fluoropolymers over other plastics in packaging
applications due to their superior characteristics such as natural
inertness and barrier properties. In recent years, the development of
cheap bulk injection molding processes to produce complex fluoropolymers
products has further increased the use of fluoropolymer. Materials used
in the healthcare industry must meet the unique performance criteria.
Some of the primary factors that determine the performance criteria
include sterilization, lubricity, inertness to chemical activity,
stability over a wide range of temperatures, dielectric strength,
compatibility with living tissue, USP Class VI certification, and purity
of the highest order. Fluoropolymers perfectly meet these criteria, and
therefore, they are an ideal choice for healthcare applications.

According to Hitesh Bhatia, a lead analyst at Technavio for research on plastics,
polymers, and elastomers, “Fluoropolymers possess properties
such as high chemical inertness, high heat and chemical resistance, and
low coefficient of a fraction. Hence, they are used in different
healthcare applications such as substitutes for the nose, ear, skull,
hip, and knee bones. They are also used in developing biomedical
materials for artificial corneas and heart valves. The most common
plastics used in medical devices are polyethylene, polypropylene,
polystyrene, polyester, polycarbonate, polyvinyl chloride, thermoplastic
elastomer, and polysulfone. Fluoropolymers are replacing many of these
plastic products in medical devices.”

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APAC: largest fluoropolymer market in the healthcare industry

According to Technavio researchers, APAC dominated the global
fluoropolymer market in the healthcare industry in 2016 and occupied a
share of close to 35%. APAC has been the largest producer and consumer
of fluoropolymer products in the global fluoropolymer market in
healthcare industry. APAC is also the largest market for
polytetrafluoroethylene (PTFE). The availability of raw materials such
as fluorspar, ethylene, and fluorocarbon at low prices and the
availability of skilled labor, land, and industrial equipment has made
APAC a profitable region for the manufacture of fluoropolymers. APAC is
also known for its growing healthcare industry. China, India, Japan, and
South Korea are the leading manufacturers and consumers of
fluoropolymers in this region. The demand for fluoropolymers in
developing countries such as Indonesia, Thailand, and Vietnam has
increased due to the growth of the healthcare industry in these
countries.

Competitive vendor landscape

Most of the vendors are involved in manufacturing a specific type of
fluoropolymer in the healthcare industry. The market entry barrier for
new entrants is high, and the key players have taken a prominent
position in the fluoropolymer
market in the healthcare industry. APAC is the largest market for
fluoropolymer consumption in the healthcare industry. China, India, and
Japan are the leading producers and consumers of fluoropolymer in the
healthcare industry. The US is also a key country in this industry and
is a base for several key vendors. The Western European countries such
as Germany, France, and the UK are the leading countries with developed
healthcare industry.

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fluoropolymer market in the healthcare industry report free of
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