The rising necessity for better efficiency and emission control in the transportation and automotive sector is one of the significant factor influencing market growth.
Market Size – USD 2.98 billion in 2018, Market Growth - CAGR of 5.1%, Market Trends – Evolving implementation in fuel cells and PV modules.
NEW YORK, April 03, 2019 (GLOBE NEWSWIRE) -- The global Polytetrafluoroethylene Market is expected to reach USD 4.50 Billion by 2026, according to a new report by Reports and Data. Polytetrafluoroethylene is a synthetic fluoropolymer of tetrafluoroethylene with an extensive variety of uses. It is a robust, tough, waxy, non-flammable synthetic resin manufactured by the process of polymerization of tetrafluoroethylene. It is distinguished by its typical characteristics like resistance to chemicals, greasy surface, and high melting point.
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The market demand is forecasted to be driven by a rise in demand for better efficiency and emission control in the transportation and automotive sector. These sectors seek the application of polytetrafluoroethylene which provides various benefits like low frictional coefficient, high electrical resistance, heat resistance, and chemical inertness among others.
PTFE is known to be one of the most excellent insulators. In thin sections, PTFE will insulate to 500 volts/mil. There are certain grades of PTFE that have even greater dielectric strength. PTFE is often used in cable and wire wrap, and as the separator for conductive surfaces in capacitors. Thickly walled, close-tolerance extruded tubing is the most sought after PTFE shape where machining or drilling long lengths to close tolerances is impossible. PTFE can be machined into standoff insulators and several different types of high voltage encapsulation devices for electrical components.
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One major factor that may hinder the market growth is the high cost associated with the production of polytetrafluoroethylene owing to an increase in the global price of raw material required for the production.
North America and Europe are among the key revenue generation region in the market. This can be attributed to the consistent technological advancements for end-user products from these regions.
Further key findings from the report suggest
- Granular product form is estimated to capture the largest market share with a CAGR of 5.2% during the forecast period, due to the extensive use of granular polytetrafluoroethylene in molding and stock shaping applications.
- Chemical and Industrial sectors are projected to lead the market throughout the forecast period due to the various application in the industrial sector such as processing of gaskets, washers, and interiors of pumps among others. The chemical inertness of PTFE makes it a suitable component in various application in chemical sector.
- Asia Pacific is expected to occupy the largest market share during the forecast period with a growth rate of 5.2%. This is chiefly because of the growth of end-user sectors such as automotive, transportation, chemical, and healthcare. Chemical is estimated to give a significant boost to the market.
- Key participants include 3M, Asahi Glass Co. Ltd., Gujarat Fluorochemicals Ltd., Solvay SA, Daikin Industries, Shanghai 3f New Material Co. Ltd., Dongyue, Chemours, Halopolymers Ojsc and Zhejiang Juhua among others.
- On December 2016, 3M, a leading company in the market, developed a new patent-pending technology for 3D printing fluoropolymers.
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For the purpose of this report, Reports and Data have segmented global polytetrafluoroethylene (PTFE) market on the basis of product form, PTFE grade, application, end-user and region:
Product Form Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
- Granular
- Fine Powder
- Micronized powder
- Aqueous Dispersions
PTFE Grade Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
- Virgin PTFE
- Glass Filled PTFE
- Bronze Filled PTFE
- Carbon Filled PTFE
- Stainless Steel Filled PTFE
Application Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
- Sheet & Film
- Industrial Coatings
- Teflon Coating & Non-Stick Wear
- PTFE Powder
- Others
End-user Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
- Electrical & Electronics
- Chemical
- Industrial
- Automotive
- Construction
- Healthcare
- Others
Regional Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
- North America
1. U.S. - Europe
1. Germany
2. UK - Asia Pacific
1. China
2. India
3. South-east Asia - Latin America
1. Brazil - MEA
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