Polytetrafluoroethylene (PTFE) Market Leading Player 2022-28
The global polytetrafluoroethylene (ptfe) market size was valued at USD 2.38 billion in 2021 and is poised to grow at a significant CAGR of 11.8% during the forecast period 2022-28. Polytetrafluoroethylene is a tetrafluoroethylene fluoropolymer made synthetically. Tetrafluoroethylene polymerization produces a strong, waxy, non-flammable synthetic resin with a high crystallisation and melting point. It is widely utilised in pipe and containers of reactive and corrosive chemicals since it is non-reactive and has better chemical resistance. It's also commonly used as a catheter coating, which reduces the ability of bacteria and other infectious agents to stick to catheters and cause hospital-acquired infections. Furthermore, due to its high surface lubricity and anti-blocking properties, PTFE is employed in electronics, pharmaceuticals, textiles, and culinary applications.
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The PTFE fabric has been engineered to be chemically inert, and it has been proven to stay intact at temperatures ranging from 73 to 232 degrees Celsius. This has been the driving force for the rapid adoption of PTFE fabric across a wide range of industries, from building to stretching and packaging. The self-cleaning capabilities of PTFE fabric have proven to be a valuable advantage to builders, guaranteeing that these fabrics are used consistently in the construction sector. Because PTFE textiles are non-sticky, they will be used to make gaskets, seals, and bearings for gases, chemicals, oils, chutes, hot platens, hoppers, and troughs, which will boost the global market. High prices associated with PTFE, on the other hand, may impede market expansion over the projection period. The increasing costs of PTFE in recent years have been driven by rising raw material costs for fillers, colours, and fluoropolymer resins, as well as global demand for premium-grade products. The emergence of a significant number of relatively low-cost Chinese items on the worldwide market has put upward price pressure on PTFE producers in other nations. An increase in the use of PTFE in the medical sector, on the other hand, is likely to provide a lucrative potential for the worldwide polytetrafluoroethylene market.
The global polytetrafluoroethylene (ptfe) market segmentation:
1) By Form: Granular, Fine Powder, Dispersion, Micronized.
2) By Application: Sheet, Coatings, Pipes, Films, Others.
3) By End-use Industry: Chemical & Industrial Processing, Electronics & Electrical, Automotive & Aerospace, Consumer Goods, Building & Construction, Others.
In 2019, Asia Pacific held the greatest market share, and this trend is likely to continue during the projection period. The fast expansion of the industrial and chemical processing industries in large countries such as China and India is primarily responsible for this increase. Furthermore, the region's fast-growing automotive sector is expected to boost product demand even more. North America and Europe, on the other hand, are two of the most important electronics markets, resulting in ongoing technological developments for end products. During the forecast period, this factor is expected to boost PTFE demand in North America and Europe.
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There are several industry players working in the Polytetrafluoroethylene (PTFE) Market, which include the 3M Company, AGC Chemicals Americas, Inc., Arkema S.A., Solvay S.A., DowDuPont, Inc, Daikin Industries Ltd, The Chemours Company, Solvay, Asahi Glass Co.
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