New York, Aug. 26, 2019 (GLOBE NEWSWIRE) -- High preference towards ETFE due to its durability, heat resistance, recyclability and bio-degradability are the key factors responsible for the CAGR in the forecasted period.
According to the current analysis of Reports and Data, the global ETFE market was valued at USD 0.36 Billion in 2018 and is expected to reach USD 0.68 Billion by year 2026, at a CAGR of 8.1%. ETFE (Ethyle tetrafluroethylene) is a fluorine-based plastic polymer that is used in the production of innovative and lightweight substitute to glass panels. It has light transmission similar to that of glass, but weighs only 1% compared of glass. The lifespan of ethyle tetrafluroethylene is approximately of thirty years. It has excellent weathering properties and the film is becoming a material of choice for a lot of outdoor and outdoor/indoor spaces in a variety of climates. It belongs to the PTFE fluorine polymer. Its advantages range from environmental sustainability to creative design options.
The preference towards ETFE over glass due to its properties such as light weight, recyclability and environmental friendliness have played a key role in increasing the demand. The above-mentioned features are the main factors propelling the market. It also provides structural stability and accelerated weathering tests of 30 years have showed almost no signs of deterioration. However, the ETFE is noisier in nature as it transmits more sound than glass. Also, it is prone to punctures by sharp objects, thus, making them riskier. These factors act as major restraining factors for the market. It also maintains strength in wide temperature variances and is self-extinguishing in cases of fire. Although ETFE is not fully fluorinated like PFA, FEP and PTFE, it maintains many of the high performance characteristics such has high temperature that is, a continuous service temperature of 150°C, good electrical properties and excellent chemical inertness.
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Further key findings from the report suggest
- The versatility of application such as wires, tubes, cables, coating and membranes along with the feature of bio-degradability, act as the driving factors for the market. EFTE is 100% recyclable making it all the more attractive, given the rising awareness towards environment protection. This has been one of the key factors increasing the demand.
- The EFTE is flexible, can be stretched up to 3 times and remain taut with variation in size, can be shaped into curvatures and can have multiple, movable layers. Such features make it all the more an attractive alternative for glass.
- The granule form of ethylene tetrafluoroethylene can be both, extruded and injected to convert it to films & sheets, wires & cables, and tubes, which are then used by various industries such as architecture, automotive, chemical processing, and others. It is expected to grow at a CAGR of 10.1%.
- In case of applications, Cables and Wires are expected to grow at a CAGR of 8.8%. In the present scenario, Membranes dominate the market with a market share of 36.5%.
- The key players of the market include Daikin Industries, Structurflex, Architen Landrell, DuPont USA, Quadrant Plastic Composites AG, Ensinger and The Chemours Company.
- Daikin Industries dominate the market competition.
- The growth of the Asia Pacific ETFE market can be attributed to the easy availability of cheap labor along with economical and accessible raw materials.
- Economies like China, India, Taiwan and Indonesia have become major hubs of production of EFTE due to the availability of cheap and abundant labor and raw materials
- North America dominates the market with a market share of 51.5% followed by Europe at 26.1% market share. Asia Pacific is the fastest growing region with a CAGR of 9.6% due to availability of cheap labor and abundance of resources.
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Segments covered in the report:
For the purpose of this report, Reports and Data has segmented the ETFE market on the basis of type, techniques, application and region:
Type (Revenue, USD Million; 2016–2026)
- Granule
- Powder
Application (Revenue, USD Million; 2016–2026)
- Cables and Wires
- Tubes
- Membranes
- Coatings
- Panels
- Others
Techniques (Revenue, USD Million; 2016–2026)
- Injection
- Extrusion
- Rotational
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Regional Outlook (Revenue, USD Billion; 2016-2026)
- North America
- U.S.
- Europe
- France
- UK
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- Middle East and Africa
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