The global polytetrafluoroethylene (PTFE) market is projected to be driven by rising demand from different application sectors, particularly the electrical and electronics industry. Globally, PTFE is a very significant and popular fluoropolymer. It is a strong, non-resilient material, and flexible material, with good thermal as well as chemical characteristics. It is also a great insulator over a wide temperature and frequency range, which is likely to bode well for the market in the years to come.
Weather and heat resistance, good electric insulation, chemical inertness, and an excellent corrosion resistance are amongst the qualities that make polytetrafluoroethylene useful in a variety of end use sectors, comprising chemical processing and automotive and transportation. PTFE is manufactured commercially using two processes, which are granular polymer and dispersion of a polymer with a considerably lower molecular weight and smaller particle size. Other production processes include electric arc decomposition of Tetrafluoroethylene (TFE) and emulsion polymerization employing peroxide initiators like hydrogen peroxide (H2O2).
The Chemours Company, Asahi Glass Co., Ltd., Daikin Industries, Ltd., Solvay S.A., and The 3M Company are a few of the leading players in the global polytetrafluoroethylene (PTFE) market.
As per Transparency Market Research, the global polytetrafluoroethylene (PTFE) market is likely to grow at a 4.6% CAGR over the forecast period, from 2016 to 2024. By 2024, the market is expected to reach a value of around US$ 5.18 Bn.
Rapid Development of Chemical and Industrial Processing Sectors to Boost Growth in Asia Pacific Region
In terms of region, the global polytetrafluoroethylene (PTFE) market is classified into the principal regions of Latin America, North America, Asia Pacific, Middle East and Africa, and Europe. It is anticipated that regional classifications would provide a better knowledge of the market dynamics at play at the regional level.
Asia Pacific is likely to emerge as one of the most prominent regions in the global polytetrafluoroethylene (PTFE) market and this trend is expected to continue during the forecast period, from 2016 to 2024. The rapid development of the chemical and industrial processing sectors in developing countries like India and China is largely responsible for the expansion of the regional market. In addition, the region's rapidly expanding automobile industry is expected to add to the product demand even further.
Electronics sector is a mature industry in both Europe and North America, which has resulted in continual advancements in technology for end commodities. This factor is expected to boost demand for polytetrafluoroethylene in both Europe and North America over the forecast period, from 2016 to 2024.
High Thermal Resistance to Drive Demand for PTFE in the Automobile Sector
Extremely high temperatures are no problem for PTFE, they can resist temperature till 2500 degree Celsius. At the same time, the product comes with a low resistance to friction and low chemical. Polytetrafluoroethylene is frequently used in the automobile sector because of these characteristics. PTFE may be found in a variety of automotive components, including brakes, sump hoses, clutches, and brake lines. Rally cars that require clutch fluid, cooling can, and hydraulic fluid benefit greatly from the product. As a result, the global polytetrafluoroethylene (PTFE) market is expected to expand in the near future.
3M, a major player in the global polytetrafluoroethylene (PTFE) market, has announced the development of a new PTFE processing technique. The method employs a novel 3D printing technique to treat completely fluorinated polymers like PTFE. This method enables the manufacture of small-volume and complicated PTFE components sans any use of costly conventional processing methods. Plastics producers are expected to benefit from this new 3D manufacturing technique since it is likely to provide them with more flexibility. In the next few years, novel technologies like these are likely to drive innovation in the global polytetrafluoroethylene (PTFE) market.
The information shared in this review is based on a TMR report, bearing the title, “Polytetrafluoroethylene (PTFE) Market (Product - Granular, Fine Powder, Micro Powder, Dispersions, and Liquids; Application - Industrial and Chemical Processing, Automotive, Electricals, Electronics, Cookware, Building and Construction, and Medical) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024.”
The global polytetrafluoroethylene (PTFE) market is segmented based on:
- Fine Powder
- Micro Powder
- Industrial and Chemical Processing
- Building and Construction
- North America
- Rest of Europe
- Middle East and Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.
Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through ad-hoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.
Transparency Market Research
90 State Street,
Albany NY - 12207
USA - Canada Toll Free: 866-552-3453
Email: [email protected]
7 of 10 large enterprizes view our ToC to take the right decision.View Report ToC