Owing to the unique properties of polytetrafluoroethylene (PTEE), it is in demand in the industries such as construction and chemical. Due to its numerous useful properties such as high heating point, excellent insulation, and stability at low temperatures, it has gained an augmented demand in other sectors too which is significantly adding up to the revenues generated in the polytetrafluoroethylene market. The analyst of IndustryARC has valued the market at $3,245 million as of 2018, and the demand for polytetrafluoroethylene is projected to grow at a healthy compound annual growth rate (CAGR) of 5.47% during the forecast period of 2019 to 2025.
The IndustryARC report is titled “Polytetrafluoroethylene (PTFE) Market: By Type (PTFE, FEP, PFA, ETFE); Property Type (Not Sticky, Heat Resistance, Wear Resistance, Corrosion Resistance); Coating Material(Fine, Micronized Granular, Aqueous Dispersion) & By Industry – Forecast 2019 – 2025.”
Polytetrafluoroethylene is a synthetic fluoropolymer which is produced by free-radical polymerization, and it is a thermoplastic polymer in nature. One of the most important applications of PTFE is the wiring in aerospace and computer application. It is widely used in the production of carbon fiber composites and fiberglass as well. Furthermore, PTFE is widely and commonly used in medical fields for the preparation of implantable medical devices as it exhibits excellent mechanical and chemical properties.
Global Polytetrafluoroethylene Market: Leading Segment
APAC holds the largest dominance in the globe in the PTFE market. Owing to the increasing demand and investment by potential investors, APAC has been dominating the PTFE market. APAC has observed that emerging countries such as China, India, South Korea, and Japan have contributed to the growth of the PTFE market. These countries help in generating regional revenue due to heavy demand from the chemical, electronic and electrical devices, automobiles, and industrial products. APAC had a regional share of 45% which is equivalent to almost the total contribution of the rest of the world (RoW). However, the application segment in the electric and electronic industry is expected to grow at a CAGR of 7% during the forecast period of 2019 to 2025.
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Global PTFE Market: Disruptive Trends
Improved Efficiency and Emission Control
PTFE is widely used in the automobile and transportation industry. They play a very vital role in automobile manufacturing, as they possess the properties that can be exposed to high temperature. There is a high demand of UHMW-PE, POM, PA, PEEK, and PTFE, and this augmented demand drive the growth of the PTFE market.
Chemical and Industrial Industry
PTFE is used majorly in the chemical and industrial sector in the form of coatings, liners, tubes, and gaskets in machinery and equipment. It is also used in the manufacturing of valves and pumps, shafts seals, and friction bearings, which is creating growth prospects in the Polytetrafluoroethylene market.
Electronics and Electrical Industry
As consumers are buying more electronics and electric products, the demand for PTFE is increasing. It has a tremendous ability to insulate to 500 volts per mil. PTFE wires are found in almost every high-technology machinery. Due to this, the PTF market is growing at a significant pace.
Oil and Gas Industry
PTFE helps to avoid the biggest challenges that are faced in the oil and gas industry. It has the ability to protect important instrumentation from extreme temperatures, pressure, and corrosive chemicals.
When the medical devices require a smooth coating which is thin and precise, PTFE is being used as it provides good coverage and protection to the devices. The insulated PTFE wires are being used in medical applications often than any other.
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Global Polytetrafluoroethylene (PTFE) Market: Competitive Landscape
Some of the key companies identified in the report that are currently holding majority shares in the global polytetrafluoroethylene market are Daikin, Chemours, 3M Company, Solvay, DowDupont, AGC Chemicals, Arkema, Kureha Corporation, Saint Gobain, Gujarat, and Fluorochemicals Limited.
What can you expect from the report?
The PTFE Market is Prepared with the Main Agenda to Cover the following 20 points:
1. PTFE Market Size by Product Categories & Application
2. PTFE Market trends & Relevant Market Data
3. Manufacturer Landscape
4. Distributor Landscape
5. Pricing Analysis
6. Top 10 End-user Analysis
7. Product Benchmarking
8. Product Developments
9. Mergers & Acquisition Analysis
10. Patent Analysis
11. PTFE Market Demand Analysis (Revenue & Volume)
12. Country-level Analysis
13. Competitor Analysis
14. PTFE Market Shares Analysis
15. Value Chain Analysis
16. Supply Chain Analysis
17. PTFE Market Strategic Analysis
18. PTFE Market Current & Future Market Landscape Analysis
19. Opportunity Analysis
20. PTFE Market Revenue and Volume Analysis
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