Polytetrafluoroethylene (PTFE) Market

Polytetrafluoroethylene (PTFE) Market Size, Share, Growth (2023-2028)

Polytetrafluoroethylene (PTFE) in Global is Projected to grow with a CAGR of 5.2% during the forecast period 2023-2028

Polytetrafluoroethylene (PTFE) Market Overview:

Polytetrafluoroethylene is a type of tetrafluoroethylene synthetic fluoropolymer with a wide range of uses. Chemours (a DuPont spin-off) is the greatest-recognized brand for this material in 2015, which was originally found in 1938.It is a strong, hard, waxy, nonflammable synthetic resin that is manufactured through the tetrafluoroethylene polymerization method. Based on its properties such as slippery surface, elevated melting point & chemical resistance, it is distinguished.Nowadays, the main use of polytetrafluoroethylene polymer that is being used as non-stick pans coatings. It is also used in a range of industrial products, including bearings, tube liners and various sections of pumps and valves. ePTFE and mPTFE offer significant opportunities, while high investment costs, PTFE re-processing and rigorous environmental regulations pose major problems to the PTFE market.

Polytetrafluoroethylene (PTFE) Market Drivers

Rising demand from different application industries is expected to push the PTFE market, particularly in the electrical and electronics sectors. PTFE is a major fluoropolymer, a major part of the global economy.Increased costs associated with PTFE throughout the forecast period can impede market growth. Rising prices of raw materials for fillers, pigments, and fluoropolymer resins together with global demand for premium-grade products have resulted in high PTFE costs over the past couple of years.Global demand for goods is expected to surpass supply, due in addition to new applications, thus boosting the market growth. The large industry is concentrated in nature with a significant stake of prominent industry participants. Companies are going to reduce production costs, boost supply chain efficiency, and by investing in R&D, they are producing high-quality products.

REPORT COVERAGE

Polytetrafluoroethylene (PTFE) Market Segmentation:

By Product:

• Granular

• Micro-powder

• Fine-powder

• Others

By Application:

• Industrial & Chemical Processing

• Electrical & Electronics

• Automotive & Transportation

• Others

Polytetrafluoroethylene (PTFE) Market Regional Analysis:

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East & Africa

The Asia Pacific was the largest market share in 2017, and also the trend is expected to increase through the forecast period. It is also one of the regions with the fastest growth. This growth is mainly credited to the rapid development of major economies, such as China and India, in the industrial and chemical processing sectors. However, the rapid expansion of the area's automotive industry is expected to further boost the demand for the product.

Passenger vehicle, truck and bus production in South Asia grew by about 3.0 percent, reaching 9.2 million units in 2017. Vehicle production in China is increased by 3.5 percent in 2017, representing 29.5 million units. This pattern is expected to continue over the forecast period, guided by small car tax incentives and the broader economic stimulus provided by the Chinese government.

On the other side, as one of the established electronics markets, North America and Europe have contributed to continuing technological advances for end products. This trend is expected to increase demand for PTFE over the forecast period in North America and Europe. Competitive competition between suppliers is high because a large number of global and regional manufacturers are present on the market.

Polytetrafluoroethylene (PTFE) Market Key Players 

1. 3M Company

2. AGC Chemicals Americas, Inc.

3. Arkema S.A.; Solvay S.A.

4. DowDuPont, Inc

5. Taconic

6. FIBERFLON

7. Saint-Gobain Performance Plastics

8. W. L. Gore & Associates Inc.

9. Chukoh Chemical Industries,

10. Daikin,

11. W.F. Lake Corp.