Global Consumption of Polytetrafluoroethylene (PTFE) Market is Projected To Reach 276 Thousand Tons by 2024

Sustained Demand from Established End-Use Industries & Emergence of New Applications to Spur Growth in the Global Polytetrafluoroethylene (PTFE) Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, market size and demand forecasts on the global Polytetrafluoroethylene (PTFE) market. Global consumption of Polytetrafluoroethylene (PTFE) market is projected to reach 276 thousand tons by 2024, driven mainly by the persistent demand for high performance polymers from major end-use markets. The launch of novel products and emergence of new applications also present significant potential for growth in the PTFE market.

Polytetrafluoroethylene (PTFE) is a synthetic high molecular weight solid state fluorocarbon consisting largely of carbon and fluorine atoms. PTFE, the largest product type in the fluoropolymers market, is widely available in molded/granular form, aqueous dispersion and fine powder based on its usage. PTFE resins exhibit resistance to corrosion, high temperatures, chemical reactions and stress cracking. PTFE also demonstrates unique features such as low frictional coefficient, extreme chemical inertness, optimum dielectric properties, and superior heat resistance. It is these exceptional properties that are contributing to the increasing use of PTFE in an expanding range of applications. While PTFE was initially used only in cookware due to its non-abrasive properties, the application of PTFE continues to expand into other industries due to its non-corrosive properties and resistance to low and high temperatures. The rising demand for high performance polymers in electrical & electronics, automotive, and industrial & chemical processing industries, where the PTFE’s low friction, chemical resistance, non-stick, and high-dielectric properties are of huge significance, continue to drive growth in the global PTFE market

The global market continues to be driven by the steadily rising demand for the material from various end-use industries including chemical processing, automotive, consumer goods, transportation, building & construction, and electronics & electrical, among others. Industrial sector forms a significant market for PTFE, with its ability to withstand high heat being a major property propelling its use in steel and chemical processing industries. Increasing demand for coatings used in wires and cables remains a major driving factor in the PTFE market. The growing use of PTFE in the automotive industry and the rising demand for non-stick cookware constitute major factors favoring growth. In the coming years, global PTFE market will continue to post stable growth driven by the increasing demand from major end-use industries. The emergence of new applications such as sealants, medical implants, and wiring insulation will impact future trends in the global PTFE market. The advent of novel products such as expanded PTFE and modified PTFE for use in applications such as electrical & electronics, chemical processing and medical devices and filtration will contribute to the market’s growth. The PTFE market will be favored by the rising demand for recycled PTFE. With environmental concerns on the rise, consumers and companies alike are focusing efforts on sustainability in order to reduce their environmental footprint, which is in turn spurring demand for 100% recyclable metal packaging.

As stated by the new market research report on Polytetrafluoroethylene (PTFE), China represents the largest regional market, worldwide. China is also forecast to register the fastest CAGR of 6% over the analysis period. Over the years, demand for PTFE in China has been driven mainly by the strong pace of industrial development. The availability of cheap raw materials and fast paced growth in various end-use industries presents a favorable outlook for the PTFE market in China. Automotive is a major end-use market, due to China’s position as the world’s largest vehicles market globally. China’s rapidly growing cookware market, driven mainly by the rising demand from consumer and household market, is another segment fueling growth in the PTFE market.

Major players in the market include 3M, Asahi Glass Company Limited, AGC Chemicals Americas Inc., Chenguang Research Institute of Chemical Industry, Daikin Industries Ltd., Dongyue Group Limited, Gujarat Fluorochemicals Limited, HaloPolymer OJSC, Juhua Group Corporation, Saint-Gobain Performance Plastics Corporation, Shanghai 3F New Material Co. Ltd., Solvay, and The Chemours Company, among others.

The research report titled “Polytetrafluoroethylene: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies. The report provides market estimates and projections for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), China, Asia-Pacific (India and Rest of Asia-Pacific), Latin America and Rest of World. The global and regional PTFE markets are analyzed by the following End-Use Industry - Automotive & Transportation, Chemical Processing, Electrical & Electronics, Mechanical & Industrial, Consumer Appliances, and Others. The US PTFE market is additionally analyzed the End-Use Application - Coatings & Liners, Films, Mechanical Parts & Components and Others.

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