The demand for lightweight and durable materials is high along with rapid growth in the automotive, construction, and chemicals industries thus expecting to drive the ethylene tetrafluoroethylene market growth.
Sarasota, FL -- (SBWIRE) -- 09/05/2017 -- Global Ethylene Tetrafluoroethylene Market: Overview
Ethylene tetrafluoroethylene occurs in the form of fluoropolymer, which is referred as ETFE. It is lubricious plastic with a low coefficient of friction; thus, it is used in the abrasion protection application. In the production of ethylene tetrafluoroethylene monomer, tetrafluoroethylene is converted into polymer ethylene tetrafluoroethylene by a polymerization process, where it does not use any solvent. The material can be expelled in varying thicknesses depending on the application. Ethylene tetrafluoroethylene is capable of bearing tough environmental conditions and high temperatures thus it is a good choice in a number of applications which includes instrumentation, medical, nuclear, aerospace, and industries. Ethylene tetrafluoroethylene is used in the automotive industry in the ABS braking systems, oxygen sensors, seat heating systems, and brake wear sensors.
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Global Ethylene Tetrafluoroethylene Market: Growth Factors
The demand for lightweight and durable materials is high along with rapid growth in the automotive, construction, and chemicals industries thus expecting to drive the ethylene tetrafluoroethylene market growth. Constant spending on the research and development activities and increasing application of the ethylene tetrafluoroethylene anticipate escalating the market in coming years. Ethylene tetrafluoroethylene provides jacketing material, which can easily spread over fiber optics without causing damage; hence, it is widely used in the chemical industry. It possesses high translucency and is lightweight in nature, thus being used in various applications that require chemical resistance, good electrical properties, high-temperature resistance, and radiation resistance; this is expected to boost the market in future. However, unstable prices of the raw materials may hinder the ethylene tetrafluoroethylene market to some extent.
Global Ethylene Tetrafluoroethylene Market: Segmentation
The ethylene tetrafluoroethylene market is segmented based on end use industry, type of material, application, and product type. The end use industry is classified into nuclear, construction, chemicals, automotive, and aerospace. Based on the type of material, the market is segregated into ETFE injection molding and ETFE extrusion molding. The application segment is divided into wire & cable, film & sheet, coating, and tubes. The product type segment of the market is fragmented into ETFE powder and ETFE granule.
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Global Ethylene Tetrafluoroethylene Market: Regional Analysis
Asia Pacific is the leading region in the global ethylene tetrafluoroethylene market owing to the extensive growth of the automotive and construction industries in the region. Cheap labor and availability of ample amount of raw materials in this region attract the manufacturers towards the region thus anticipating to boost the market. North America is considered as a mature market as it is the most active region in terms of strategic initiatives, which is anticipated to foster the market in the near future. The European region is emerging as a potential market for ethylene tetrafluoroethylene while the developing construction industry in this region is positively enhancing the market growth.
Global Ethylene Tetrafluoroethylene Market: Competitive Players
Major players dominating the global ethylene tetrafluoroethylene market are DIC Corporation, China Lumena New Materials Corp., BASF SE, Daikin Industries Ltd., The Solvay Group, Bayer MaterialScience AG, and 3M. Other influencing players include Evonik Industries AG, Toray Industries, Inc., Mitsui Chemicals, Inc., Victrex Plc, Radici Partecipazioni SpA, Performance Plastics Ltd., DuPont Performance Polymers, The Dow Chemical Company, Kuraray Co., Ltd., Polyplastics Co, Ltd., and EMS-Grivory.
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Global Ethylene Tetrafluoroethylene Market: Regional Segment Analysis
The Middle East and Africa