North America, China, & Asia Pacific Fluoropolymer Lined ISO Tanks Market for Semiconductor Chemicals: Introduction
The fluoropolymer lined ISO tanks market for semiconductor chemicals in North America, China, & Asia Pacific was valued at US$ 263 Mn in 2018 and is anticipated to expand at a CAGR of 6% during the forecast period. Based on material, the polytetrafluoroethylene (PTFE) segment dominated the fluoropolymer lined ISO tanks market for semiconductor chemicals in North America, China, & Asia Pacific in 2018. This can be ascribed to the large-scale application of polytetrafluoroethylene for various industrial coatings and lining purposes. Asia Pacific is estimated to offer immense growth potential to the fluoropolymer lined ISO tanks market for semiconductor chemicals in the next few years.
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Key Drivers and Restraints of North America, China, & Asia Pacific Fluoropolymer Lined ISO Tanks Market for Semiconductor Chemicals
Increase in international trade of food and chemicals/semiconductors is a major factor driving the fluoropolymer lined ISO tanks market for semiconductor chemicals in North America, China, & Asia Pacific. ISO tanks are designed and built as per the International Organization for Standardization (ISO). These tanks offer a sturdy, safe, and user-friendly mode of loading, carriage, transportation, shipping, and discharge of different grade chemicals adhering to the international norms and regulations of safety. ISO tanks are specifically designed to transport liquid bulk hazardous and non-hazardous chemicals, acids, industrial and edible oils, juice concentrates, wines, and raw materials. Rise in transportation of semiconductor chemicals and bulk liquids in Asia Pacific and North America is anticipated to boost the fluoropolymer lined ISO tanks market for semiconductor chemicals in these regions during the forecast period.
The demand for fluoropolymer has been increasing, owing to its property of extreme chemical resistance. Fluoropolymers possess excellent inertness to various chemicals and biological environments as well as hydrophobicity and lipophilicity. Fluoropolymers improve the operational performance and safety standards of aircraft and automobiles. They also lower the risk of fire in high-rise buildings. Furthermore, they help reduce pollution. Fluoropolymers are employed in a wide range of applications in various industries. This trend is expected to continue in the near future, thereby augmenting the fluoropolymer lined ISO tanks market for semiconductor chemicals. However, fluctuation in prices of raw materials is the major factor hampering the fluoropolymer lined ISO tanks market for semiconductor chemicals in North America, China, & Asia Pacific in the near future.
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Asia Pacific a Highly Lucrative Region of Fluoropolymer Lined ISO Tanks Market for Semiconductor Chemicals
In terms of region, the fluoropolymer lined ISO tanks market for semiconductor chemicals has been bifurcated into North America, China, & Asia Pacific. Asia Pacific accounted for large share of the fluoropolymer lined ISO tanks market for semiconductor chemicals in 2018. Key players operating in the fluoropolymer business in Asia Pacific are Zibo Bainisi Chemical Co.,Ltd, Dongyue Group, Gujarat Fluorochemicals Ltd., INOFLON, NexGen Fluoropolymers Pvt. Ltd., and 3G Fluoropolymers. China, Japan, and South Korea are the major revenue generators of the fluoropolymer lined ISO tanks market for semiconductor chemicals in Asia Pacific. China held major share of the fluoropolymer lined ISO tanks market for semiconductor chemicals in Asia Pacific in 2018. Demand for semiconductors has been rising significantly in the country. It is the largest purchaser and importer of chips in the world, led by its manufacturing expertise, specifically in consumer electronics. Japan held a considerable share of the fluoropolymer lined ISO tanks market for semiconductor chemicals in Asia Pacific in 2018. The country possesses strong installed base of chemical, automobile, and electronic industries. These industries are among the key consumers of fluoropolymers. Japan also has the largest units of ISO tanks in Asia Pacific. These tanks are fluoropolymer lined and used for international trade. The fluoropolymer lined ISO tanks market for semiconductor chemicals in North America is expected to expand at a substantial pace during the forecast period
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North America, China, & Asia Pacific Fluoropolymer Lined ISO Tanks Market for Semiconductor Chemicals: Key Developments
In 2017, FISHER COMPANY produced the first Kynar PVDF (polyvinylidene fluoride) coating greater than 3mm, up to 6-10mm in thickness. Kynar PVDF is a tough engineering thermoplastic that offers a unique balance of performance properties.
Competition Landscape of North America, China, & Asia Pacific Fluoropolymer Lined ISO Tanks Market for Semiconductor Chemicals
The fluoropolymer lined ISO tanks market for semiconductor chemicals in North America, China, & Asia Pacific is fragmented, with a few leading companies holding major share. High capital investment and skilled & experienced manpower are required for the application of fluoropolymer-based linings. This create barriers for the entry of new players in the fluoropolymer lined ISO tanks market for semiconductor chemicals in North America, China, & Asia Pacific.
