The high demand for PTFE in various end-use industries, such as chemical & industrial processing, electronics & electrical, automotive & aerospace, consumer goods, and building & construction is driving the PTFE market.
Northbrook, IL -- (SBWIRE) -- 06/17/2019 -- The report "Polytetrafluoroethylene (PTFE) Market by Form (Granular, Fine Powder, Dispersion, and Micronized), End-use Industry (Chemical & Industrial Processing, Electronics & Electrical, Automotive & Aerospace, Consumer Goods), and Region - Global Forecast to 2027", The PTFE market is projected to grow at USD 3.60 billion by 2027, at a CAGR of 6.1% during the forecast period.
Browse 77 market data Tables and 34 Figures spread through 134 Pages and in-depth TOC on "Polytetrafluoroethylene (PTFE) Market - Global Forecast to 2027"
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Exceptional properties of PTFE, increasing demand for high-performance polymers, high-growth end-use industries, and demand for PTFE in emerging countries are driving the PTFE market. However, the increasing prices of PTFE are restraining the growth of the PTFE market. ePTFE and mPTFE offer significant opportunities, whereas, high investment cost, re-processing in the PTFE market, and stringent environmental regulations are significant challenges for the PTFE market.
On the basis of form, the granular segment is estimated to lead the PTFE market.
Granular PTFE is the most widely used form of PTFE, owing to its low price. The production technology of granular PTFE is less complicated and results in low manufacturing cost. Granular PTFE offers chemical inertness, high-temperature resistance, outstanding chemical resistance, low coefficient of friction, exceptional adhesion, low-temperature toughness, electrical properties, and excellent water repellant properties. Hence, it is used in the manufacturing of semi-finished and finished products such as rods, sheets, bushes, gaskets, seals plates, balls, piston rings, valve seats, expansion joints, diaphragms, piping components, O-rings, v-rings, connectors, and sockets.
Based on end-use industry, the chemical & industrial processing segment is estimated to lead the PTFE market.
PTFE resin is extensively used in the chemical & industrial processing industry in the form of films, gaskets, tubes, coatings, liners, and components in a wide range of machinery and equipment. It is mainly used in the manufacturing of pumps and valves, shaft seals, sliding elements, and friction bearings. Chemical resistance, thermal resistance, and flexural strength properties of PTFE make it suitable for its use in the chemical & industrial processing end-use industry.
The APAC PTFE market is projected to grow at the highest CAGR during the forecast period.
APAC is expected to be the fastest-growing PTFE market during the forecast period. The PTFE market in this region is led by China, Japan, India, and South Korea. The increasing demand for PTFE in the production of components used in automobiles, electronic devices, electrical appliances, chemicals, and industrial products in China and Japan, among other economies, is driving the growth in this market in APAC. These factors are driving key market players to expand their business in the APAC region.
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Key Players in the PTFE Market
The key players operating in the PTFE market include Chemours (US), Daikin (Japan), 3M (US), Solvay (Belgium), Asahi Glass Company (Japan) , Dongyue (China), Zhejiang Juhua (China), Shanghai 3F New Materials Company Ltd. (China), HaloPolymer (Russia), and Gujrat Fluorochemicals (India).
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