The global fluoropolymer market in the healthcare industry is forecast to grow at a CAGR (compound annual growth rate) of 7.46 percent during the period 2017-2021, according to a report prepared by TechNavio.
TechNavio is a leading market research company.
The report, based on an in-depth market analysis with inputs from industry experts, covers the market landscape and its growth prospects over the coming years. It also includes a discussion of the key vendors operating in this market.
One trend in the market is increased expenditure on Research and development (R&D) activity. Fluoropolymers are being used for novel applications, which is forcing the vendors in the global fluoropolymer market to focus more on developing innovative solutions within the existing range of fluoropolymer products, the report states.
According to the report, one driver in the market is – fluoropolymers are increasingly replacing other plastics. The consumers in the healthcare industry are increasingly opting for fluoropolymers over other plastics in packaging applications owing to their superior characteristics such as natural inertness and barrier properties.
In recent years, the development of cheap bulk injection molding processes for the production of complex fluoropolymers products has further fuelled the use of fluoropolymer. Materials used in the healthcare industry must meet the unique performance criteria.
Fluoropolymers are fluorocarbon-based polymers formed by a strong bonding between carbon and fluorine, which makes them mechanically stable. They are high-performance plastics and are characterized by high resistance to acids, bases, and solvents. Various fluoropolymer products such as polytetrafluoroethylene (PTFE), polyvinylidene difluoride (PVDF), fluorinated ethylene propylene (FEP), ethylene tetrafluoroethylene (ETFE), polychlorotrifluoroethylene (PCTFE), polyvinyl fluoride (PVF), ethylene chlorotrifluoroethylene (ECTFE), perfluoroalkoxy (PFA), and fluoroelastomers are commonly used in healthcare application.