Vast Potential applications in Developing Regions and New Innovative Products to Drive Demand for Global PTFE to Reach 247k MTs Valued at US$2.9B by 2022
Monday 11 Apr 2016
Industry Experts has today released the new market research report on Polytetrafluoroethylene. The new report ‘Polytetrafluoroethylene (PTFE) – A Global Market Overview’ reveals that Asia-Pacific is estimated to be the largest market with an estimated 2016 consumption of 94k metric tons and the region also projected to be the fastest growing between 2016 and 20222 with a CAGR of 7.3%. The growth of global PTFE demand is mainly attributed to the developing regions such as China, India, rest of Asia and Russia among others, and new innovative products such as micronized powders, modified PTFE and expanded PTFE which will find new applications or replace conventional PTFE in existing applications owing to their improved properties.
Polytetrafluoroethylene (PTFE), a homopolymer of tetrafluoroethylene, is a linear chain polymer of great molecular length, or a “long chain” fluorocarbon, with the chemical formula (CF2CF2)n. PTFE resins have exceptional resistance to high temperatures, chemical reaction, corrosion, and stress-cracking. The mechanical toughness, electrical, and low-friction properties of PTFE make it the plastic of choice for a host of applications and different processing techniques.
PTFE’s vast potential applications in developing world such as China, India, Russia and other emerging countries is a key opportunity for PTFE manufacturers, that would be converted into market demand by new product and application development. Increasing use of novel products like modified PTFE and expanded PTFE in applications such as chemical processing, electrical & electronics, medical devices and filtration is set to increase the global demand for PTFE in the coming years. Micronized PTFE is estimated to be the fastest growing product form owing to the increasing usage in applications including thermoplastics, lubricants and inks.
Global market for Polytetrafluoroethylene (PTFE) has reached 165 thousand metric tons in 2015 and is projected to reach 247 thousand metric tons by 2022 at a CAGR of 5.6% between 2016 and 2022. In regard to the market value, global demand for PTFE is projected to touch US$2.9 billion by 2022. In terms of PTFE product form, granular PTFE molding resin dominates the global volume consumption of PTFE, estimated at 76 thousand metric tons (46.1% share) in 2015. PTFE micronized powders segment is slated to witness the fastest CAGR of 7.3% during the analysis period to reach a projected 34 thousand metric tons by 2022.
Worldwide market for PTFE product forms explored in this study includes Granular PTFE, PTFE Fine Powders, PTFE Micronized Powders and PTFE Aqueous Dispersions. The report also analyzes the key end-use sectors of PTFE comprising Chemical Processing, Electricals & Electronics, Mechanical/Industrial, Automotive & Transportation, Building & Construction and Other Sectors including such as Medical and Textiles etc. The global markets for the above mentioned product forms, end-use sectors are analyzed in terms of volume in metric tons and value in USD.
The report reviews, analyses and projects the Polytetrafluoroethylene (PTFE) market for the period 2012-2022 globally and the regional markets including North America, Europe, Asia-Pacific and Rest of World. The regional markets further analyzed for 12 independent countries across North America – The United States, Canada and Mexico; Europe – France, Germany, Italy, Russia and the United Kingdom; and Asia-Pacific – China, Japan, India and South Korea.
This global PTFE market report includes 244 charts (includes a data table and graphical representation for each chart), supported with meaningful and easy to understand graphical presentation, of market numbers. This report profiles 12 key global players and 25 major players across North America – 3; Europe – 5; and Asia-Pacific – 17. The research also provides the listing of the companies engaged in manufacturing, processing and compounding of PTFE. The global list of companies covers the address, contact numbers and the website addresses of 108 companies.
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For more details, please visit https://industry-experts.com/verticals/chemicals-and-materials/polytetrafluoroethylene-ptfe-a-global-market-overview