Polytetrafluoroethylene (PTFE) Market
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Polytetrafluoroethylene (PTFE) Market was valued US$ XX Bn in 2018 and is expected to reach US$ XX Bn by 2027, at CAGR of 6.3% during forecast period of 2019 to 2027.
Polytetrafluoroethylene (PTFE) is the dominant type of fluoropolymer that accounts for approximately 50% fluoropolymer consumption, worldwide. The applications of PTFE in various industries including automotive & aerospace, chemical & industrial processing, electronics & electrical, building & construction, and consumer goods.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Polytetrafluoroethylene (PTFE) Market Drivers and Restrains
The Polytetrafluoroethylene (PTFE) Market has witnessed considerable growth in recent years because of growth in automotive industry. The polytetrafluoroethylene (PTFE) market has become more competitive and price-sensitive owing to the high potential and steady growth of the (PTFE) market. PTFE has a large number of advantages over other polymers, because of their versatile properties such as high dimensional stability, high heat resistance, lightweight, and good chemical resistance.
The use of PTFE in automobiles results in increased fuel efficiency and decreasing emissions. The various applications in aerospace require PTFE such as fire-retardant and emits low smoke and toxic gases that can stand with aggressive applications under a wide range of temperatures.
The opportunity for PTFE market is used in the medical applications because of chemical inertness that makes it biocompatible and easily degraded by medical fluids. Plastic surgery, cardiovascular, peripheral vascular grafts, orthopedic, dental and ophthalmology are some of the applications in the healthcare industry, which use PTFE for its exceptional properties. At present, the Europe and United State are witnessing rapid growth of PTFE consumption (US$ XX Mn in 2018) in the healthcare industry.
The increasing use of recycled PTFE is a challenge for the growth of the PTFE market as it changes the key properties of the resin. The prices of PTFE have varied and increase in the recent years, due to shutting down of several Chinese and European manufacturing units. China accounted for more than 40% of the global consumption of PTFE in 2018 and is also the world’s largest PTFE manufacturer. Currently, the average price in the PTFE in market US$ 15 per kg.
Polytetrafluoroethylene (PTFE) Market Segmentation Analysis
On the basis of product form, the PTFE market is segmented into granular, fine powder, dispersion, micronized and others. The PTFE granular resins offer chemical inertness, low coefficient of friction, high-temperature resistance, outstanding chemical resistance, excellent adhesion, low-temperature toughness, electrical properties, and superb water repellant properties. Granular PTFE finds application in industries includes automotive & aerospace, and chemical & industrial processing because of their resistance to high temperature and chemicals.
Among the all End-use industry, Electronics & electrical segment is projected to be the dominant market for PTFE. PTFE has important applications in the electronics & electrical end-use industry as it offers excellent electrical insulation properties under harsh environmental conditions such as aggressive chemicals and high temperatures. In terms of application Sheet the PTFE market is segmented into Coating, Pipes and Films. Films segment is expected to grow at the XX% CAGR during the forecast period.
Polytetrafluoroethylene (PTFE) Market Regional Analysis
On the basis of region Polytetrafluoroethylene (PTFE) market divided into five regions such as Asia Pacific, North America, Europe, Latin America, and Middle East Africa. Among all the regions, the Asia Pacific had the XX% market share in 2018 and is projected to lead the market during the forecast period, by reasons of increasing foreign investments and expanding application area, economic growth, cheap labor, growth of manufacturing industries, of PTFE in chemical & industrial processing and electronics industries are projected to drive the PTFE market. Countries such as South Korea, China, and Japan, which are the major hubs for the manufacture of electronic components, are projected to drive the Polytetrafluoroethylene (PTFE) Market in Asia Pacific.
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Last Update : Aug 05, 2020
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