Dublin, April 26, 2023 (GLOBE NEWSWIRE) -- The "Global Polytetrafluoroethylene (PTFE) Market by Form, Application (Sheets, Coatings, Pipes, Films), End-use Industry (Chemical & Industrial Processing, Automotive & Aerospace, Electrical & Electronics, Construction), and Region - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The PTFE market is projected to reach USD 4.0 Billion by 2028, at a CAGR of 6.4% from USD 2.9 Billion in 2023. Asia Pacific is home to several emerging economies with rapidly growing manufacturing sectors, which further drives the demand for PTFE. China is the largest producer and consumer of PTFE in the region. The growing demand for PTFE in China is mainly driven by the expanding manufacturing sector, which has increased the demand for PTFE-based products in various industries.
Dispersion segment is expected to account for the second-largest share in 2022.
PTFE aqueous dispersion concentrated liquid can be used in various applications such as dipping, coating, and spinning. It is used in general use for impregnation, fabric coatings, metal coatings, conveyor belt coatings, architectural, welding equipment, tapes or sheets, customized parts, and film coatings. It is also used as a coating for many substances in commodity industries such as stick-proof coating of frying pans and plates or rustproof coating on knives.
Coatings is expected to be the second-fastest growing application type for PTFE market during the forecast period, in terms of value.
PTFE coating is used in many industries such as automotive & aerospace, food processing, and medical devices to provide lubrication, reduce friction, and improve wear resistance. PTFE coatings improve durability and minimize friction in automotive applications. It is widely used to improve the performance and extend the lifespan of different materials and products, making them a valuable tool for many industries.
Based on region, Asia Pacific region was the largest market for PTFE in 2022, in terms of value.
Asia Pacific was the largest market for global PTFE, in terms of value, in 2022. The market in Asia Pacific is driven by innovation. Industrial expansion and technological developments in the region are driving the consumption of PTFE. The growth of the market is also expected to be supported by the improving global economy. China is the key market in the Asia Pacific. However, India is expected to witness high growth during the forecast period because of the high use of PTFE in various end-use industries in the region.
Market Dynamics
Drivers
- Fast Growth in End-use Industries
- Demand from Emerging Countries in Asia-Pacific
Restraints
- Environmental Impact of Ptfe Production
- New Perfluorooctanoic Acid (Pfoa) Regulations
Opportunities
- High Penetration in Medical Applications
- Strong Government Focus on Green Hydrogen and Hydrogen Fuel Cells
Challenges
- Non-Biodegradability of PTFE
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 224 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $2.9 Billion |
| Forecasted Market Value (USD) by 2028 | $4 Billion |
| Compound Annual Growth Rate | 6.4% |
| Regions Covered | Global |
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Ptfe Market, by Form
6.1 Introduction
6.2 Granular/Molded Powder
6.2.1 Manufacturing
6.2.2 Properties
6.2.3 Applications
6.3 Fine Powder
6.3.1 Manufacturing
6.3.2 Properties
6.3.3 Applications
6.4 Dispersion
6.4.1 Manufacturing
6.4.2 Properties
6.4.3 Applications
6.5 Micronized Powder
6.5.1 Manufacturing
6.5.2 Properties
6.5.3 Applications
7 Ptfe Market, by Application
7.1 Introduction
7.2 Sheets
7.2.1 Frequent Usage of Ptfe Sheets in the Food Industry to Drive Demand
7.3 Coatings
7.3.1 Ptfe Coatings Widely Used to Improve Performance and Extend Lifespan
7.4 Pipes
7.4.1 Demand for Ptfe Pipes to be Driven by Requirements from Chemical & Pharmaceutical Industries
7.5 Films
7.5.1 Unique Combination of Ptfe Film Properties to Make Them Highly Versatile and Useful in Several Applications
7.6 Other Applications
8 Ptfe Market, by End-use Industry
8.1 Introduction
8.2 Chemical & Industrial Processing
8.2.1 Ptfe to be Highly Preferred Material in Chemical & Industrial Processing
8.2.2 Chemical Processing
8.2.3 Oil & Gas
8.2.4 Pharmaceuticals
8.2.5 Other Industrial Processing Applications
8.3 Automotive & Aerospace
8.3.1 Ptfe to Increase Performance & Safety and Extend Life of Essential Components
8.3.2 Automotive
8.3.3 Aerospace
8.4 Electrical & Electronics
8.4.1 New Advancements and Growing Consumption of Electrical & Electronics to Fuel Demand for Ptfe
8.4.2 Telecommunications
8.4.3 Semiconductors
8.4.4 Electronic Components and Gadgets
8.4.5 Electrical
8.5 Building & Construction
8.5.1 Growing Construction Activities to Drive Ptfe Market
8.6 Consumer Goods
8.6.1 Ptfe to Find Usage in Consumer Goods Due to Non-Stick Properties
8.7 Other End-use Industries
8.7.1 Healthcare
8.7.2 Defense
8.7.3 Agrochemical
9 Ptfe Market, by Region
10 Competitive Landscape
11 Company Profiles
12 Appendix
Companies Mentioned
- 3M
- Aidmer
- Art Flurotec Ltd.
- Bemu Fluorkunststoff GmbH
- Berghof Fluoroplastics Technology GmbH
- Chenguang R.I.C.I
- Daikin Industries, Ltd.
- Dalau Limited
- Dongyue Group Limited
- Freudenberg Sealing Technologies GmbH
- Gujarat Fluorochemicals Limited (Gfl)
- Halopolymer, Ojsc
- Hubei Everflon Polymer Co. Ltd.
- Jiangsu Meilan Chemical Co. Ltd.
- Maflon S.P.A
- Micro Powders, Inc.
- Mitsubishi Chemical Advanced Materials
- Shamrock Technologies
- Shanghai Huayi 3F New Materials Co. Ltd.
- Solvay
- Srf Limited
- The Agc Group
- The Chemours Company
- Zeus Industrial Products, Inc.
- Zhejiang Juhua Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/y2kle4
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