Polytetrafluoroethylene Market Trend, Competitive Analysis, Future Growth Prospects and Forecast 2030
The global polytetrafluoroethylene market size was USD 1.85 Billion in 2021 and is expected to register a revenue CAGR of 6.7% over the forecast period, according to the latest report by Reports and Data.
The growing demand for products in the chemical and industrial processing sectors, the increasing preference of doctors for films and flakes, various grafts made of biocompatible PTFE for cardiovascular, orthopedic, ophthalmic and dental procedures, and the development of recycled PTFE with higher compressive strength and durability are key factors behind promote market revenue growth. Polytetrafluoroethylene (PTFE) is a synthetic fluoropolymer of tetrafluoroethylene, which has many applications. This synthetic resin is made by polymerizing tetrafluoroethylene and is very strong, tough, waxy, and non-flammable. It is distinguished by typical qualities, including high melting point, greasy surface and chemical resistance.
Top Companies Operating in the Global Polytetrafluoroethylene Market:
3M, Asahi Glass Co. Ltd., Gujarat Fluorochemicals Ltd., Solvay SA, Daikin Industries, Shanghai 3f New Material Co., Ltd., Dongyue, Chemours, Halopolymers Ojsc, and Zhejiang Juhua.
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Some Key Highlights from the Report
· The Asia-Pacific market accounted for the largest share of sales in 2021. China mostly imports her F&Vs, but the country's primary source of energy is coal. The oil and gas market is operated by China's state-owned oil and gas companies such as China National Petroleum Corporation. (CNPC) and China Offshore Oil Company. monopoly. New reforms are expected to make it easier for private companies to invest in the country and reduce the monopoly of state-owned enterprises.
· Increased private sector investment is expected to expand the country's oil and gas sector and drive the PTFE market. In addition, Japan's electrical and electronics sector is a world leader in the production of computers, copiers, fax machines, mobile phones, video cameras, compact discs and other critical computer components. Therefore, all these market trends are expected to drive the demand for he PTFE market during the forecast period.
· On July 1, 2021, Solvay acquired Bayer's global coatings business, with a factory in Mereville, France, and toll operations in the United States and Brazil.
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Key Regional Markets Covered in the Report:
· North America (U.S.A., Canada, Mexico)
· Europe (Italy, U.K., Germany, France, Rest of Europe)
· Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
· Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
· Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
Polytetrafluoroethylene Market Segmentation
Manufacturing Process Outlook (Revenue, USD Billion; 2019-2030)
- Suspension
- Dispersion
Product Mode Outlook (Revenue, USD Billion; 2019-2030)
- Granular
- Fine Powder
- Micronized Powder
- Aqueous Dispersions
End-Use Outlook (Revenue, USD Billion; 2019-2030)
- Healthcare
- Chemical
- Industrial
- Others
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