11 September 2019
Visiongain’s new report the Polytetrafluoroethylene (PTFE) Market Report 2019-2029: Forecasts by Product (Granular, Fine-powder, Micro-powder, Others), by Application (Electrical & Electronics, Industrial & Chemical Processing, Automotive & Transportation, Others), by Region and Analysis of Leading Companies operating in This Industry. The worldwide market size of Polytetrafluoroethylene (PTFE) is anticipated to cross USD 3.1 billion in 2019 and is expected to increase from 2019 to 2029 at a CAGR of 5.3%.
The PTFE market is driven by exceptional PTFE characteristics, increased demand for high-performance polymers, high-growth end-use sectors, and PTFE demand in emerging countries. However, PTFE's rising prices restrict the PTFE market's development. EPTFE and mPTFE give important possibilities, while elevated investment costs, PTFE re-processing and stringent environmental laws pose major obstacles to the PTFE industry.
Due to its characteristics such as superior electrical insulation, low coefficient of friction, heat and weather resistance, the product finds countless applications in various sectors including automotive, transportation and chemical processing. Commercially, PTFE is produced through two predominant procedures, namely granular polymer and a much-reduced molecular weight polymer dispersion and finer particle size. The other techniques used for manufacturing are the decomposition of Tetrafluoroethene under the impact of an electrical arc and polymerization with the assistance of peroxide initiators like hydrogen peroxide by the emulsion technique.
Global demand for PTFE products, however, is expected to exceed supply, especially owing to new applications, thus boosting market growth. The worldwide sector is focused in nature with a majority share of prominent companies. Companies are attempting to decrease manufacturing expenses, enhance supply chain dynamics, and by investing in R&D, they are developing high-quality goods. High operating and maintenance costs connected with PTFE resin crops minimize the danger posed by fresh entrants.
During the forecast period, APAC is anticipated to be the fastest growing PTFE market. China, Japan, India, and South Korea are leading the PTFE industry in this region. Among other countries, the growing demand for PTFE in the manufacture of parts used in electronic devices, automobiles, electrical equipment, chemicals and industrial products in China and Japan is driving development in this industry in Asia Pacific region. These variables drive important market players in the APAC region to grow their company.
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