The global fluoropolymer tubing market size is projected to grow from USD 513 million in 2021 to USD 662 million by 2026, at a CAGR of 5.2% between 2021 and 2026. The major factors driving the market are aging population, rising demand for semiconductor microchips, new applications of fluoropolymer tubing, such as solar panels & electric vehicles (EVs), high growth in end-use industries, and industrialization in Asia Pacific. Moreover, increasing demand for fluoropolymer tubing in the medical industry, and technical advancements in medical technologies is expected to drive the demand for fluoropolymer tubing.
The major players in the market include Saint-Gobain (France), Optinova (Finland), TE Connectivity (Switzerland), Ametek (US), Teleflex Inc. (US), Tef-Cap Industries (US), Zeus Industrial Products (US), Fluorotherm (US), Parker Hannifin (US), Swagelok (US) and Adtech (UK) are some of the leading players in the market. These players have adopted various growth strategies to expand their presence in the market further. New product launch, investment & expansion, and merger & acquisition have been the leading strategies adopted by the major players in the last five years to strengthen their competitiveness and broaden their customer base in the global fluoropolymer tubing market.
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Saint-Gobain SA is one of the leading manufacturer of high-performance solutions and plastics. The company has manufacturing facilities North America, Europe, and Asia. In recent years, Saint-Gobain SA has adopted several business strategies to strengthen its position in the market. It has adopted various growth strategies, including investment & expansion, and new product launch, to maintain its position in the fluoropolymer tubing market. For instance, in October 2021, Saint-Gobain SA has launched new products to its protection application selection guide, such as PTFE heat shrink tubing, FEP & PFA roll covers, PTFE/FEP dual heat shrink tubing, and FEP heat shrink tubing for critical applications where protection of components and industrial parts are required.
Zeus Industrial Products is one of the major players operating in fluoropolymer tubing market. The company has manufacturing facilities in South Carolina, New Jersey, and Tennessee in the US. The company offers several products and services to the medical industry that comprise catheter construction solutions, heat shrink tubing, and others. The company has adopted new product launch, acquisitions, and agreements strategies in order to broaden its product portfolio and maintain its position in the market. For instance, in March 2020, Zeus Industrial Products launched StreamLiner OTW within its StreamLiner family of thin, extruded PTFE catheter liners.
The medical application segment is estimated to be the fastest-growing fluoropolymer tubing market during the forecast period.
The chemical inertness and flexibility provided by fluoropolymer tubing make it ideal for use in medical applications. Medical applications require the precise functionality of equipment. The rising demand for minimally invasive procedures and advanced diagnostic equipment and microcatheters is increasing the demand for fluoropolymer tubing in the medical industry. Advancements in medical technologies such as real-time data monitoring and analysis in diagnostic systems will drive the demand further.
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The PTFE material segment is expected to lead the fluoropolymer tubing market during the forecast period.
PTFE is a high-performance fluoropolymer consisting of carbon and fluorine structures. It is produced through a free-radical polymerization mechanism in an aqueous media through the addition polymerization of tetrafluoroethylene (TFE) in a batch process. It is considered a reliable material for the transfer of critical fluids. PTFE fluoropolymer tubing is widely used due to its resistance to corrosive environments and aggressive chemicals.
North America is expected to be the largest market for fluoropolymer tubing during the forecast period.
North America is a mature markets for fluoropolymer tubing. North America accounted for the largest share of the global fluoropolymer tubing market in 2020, and it is projected to continue leading the market during the forecast period because of the focused interest of governments in healthcare expenditure, EV developments, and a large presence of fluoropolymer tubing manufacturers.
