Macroeconomic indicators such as GDP and industry growth have been considered to forecast the market size over the assessment period.
Albany, NY -- (SBWIRE) -- 09/19/2017 -- There is an increased demand for flexible packaging in developing economies, especially in the region of Asia Pacific, which is driving the market growth of micronized PTFE. Micronized PTFE is used for making inks. Due to a rapidly improving lifestyle and higher affluence levels in this region, there is an increased preference of consumers for processed food products as well as other consumer products. This lends support to the rising packaging industry in the Asia Pacific region, consequently driving the demand for micronized PTFE. Micronized PTFE finds another use as well and it is in the coatings and paints industry. Coatings as well as paints are used to protect object surfaces. As there are a number of manufacturing hubs in the Asia Pacific region, the demand for coatings and paints is also predicted to be on the rise, consequently leading to increased demand for micronized PTFE. In addition, Asia Pacific is home to a growing construction industry, where coatings and paints are in great demand; thus in turn, leading to a growing micronized PTFE demand in the market. To study the global market for micronized PTFE in greater detail, Market Research Reports Search Engine (MRRSE) has added a new publication in its database titled 'Micronized PTFE Market: Global Industry Analysis (2012 – 2016) and Forecast (2017 – 2025)'.
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Global Market Analysis and Forecast
The market for micronized PTFE is estimated to reach a value of about US$ 380 Mn towards the close of 2017 and is slated to be valued at about US$ 620 Mn by 2025 end. The market is anticipated to exhibit a 6.3% CAGR during the period 2017-2025 and signify an incremental dollar opportunity of about US$ 240 Mn between 2017 and 2025.
Market Taxonomy and Segmental Forecast
The worldwide market for micronized PTFE is classified by source (virgin, recycled), by application (ink, paint, coating, lubricant and grease, thermoplastic, others) and on the basis of end user industry (automotive, food, textile, pharmaceutical and medicine, electronics, other).
Micronized PTFE also finds applications in the automotive sector, where it is supplemented in tiny amounts to various liquid and solid materials for improving properties like lubricity and abrasion resistance. Micronized PTFE is designed to be used as a minority component in mixtures. As far as the automotive industry is concerned, micronized PTFE is used for applying coatings that increase weather resistance, augmented durability as well as UV protection. They are also used in seals and gaskets for reducing the friction and for ease of release. The automotive sector is anticipated to exhibit a 6.0% CAGR during the assessment period. However, the automotive sector is poised to lose around 70 basis points in the value share in 2025 over 2017.
Across the medical and pharmaceutical industry, in 2016, micronized PTFE demand stood at around 6,110 MT, which is anticipated to increase to about 11,123 MT towards the end of the period of forecast, exhibiting a 6.9% CAGR in volume terms during the period of assessment.
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Prominent Trends in the Market
As the market in China has immense potential, Chinese firms are likely to gain a strong foothold in the market for micronized PTFE and become global competitors. Due to this, a number of foreign companies from western countries are tying up with local Chinese players.
A few of the prominent companies in the micronized PTFE sector have been featured in this publication including 3M Company, Chemours Company, Gujrat Fluorochemicals Ltd, Shamrock Technologies, Micro Powder, Inc., Solvay S.A., Daikin Industries, Ltd. and Maflon S.p.a.
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