Market Research Future (MRFR) studied the Global Polytetrafluorethylene Market 2021 in the assessment period till 2030. As per analysis, the global polytetrafluorethylene market is anticipated to register at 6% CAGR in the review tenure. By 2030, the polytetrafluorethylene market is likely to value at a substantial amount.
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Market Drivers and Restraints
The high production capacity of different manufacturers for polytetrafluoroethylene (PTFE), a fluorocarbon solid, by the polymerization of monomer tetrafluoroethylene (TFE) is likely to promote the expansion of the market in the analysis period. PTFE has a non-reactive property and its ability to resist corrosive and reactive chemicals finds application in pipe works and containers. PTFE is also used as a lubricant due to its ability to curb abrasion, thus eliminating fuel consumption in machinery used in industries is expected to support the rise of PTFE market rise in the year ahead. The increasing utility of graft material in the healthcare domain is likely to boost the utility of PTFE in the sector owing to its excellent properties, such as; excellent resistance to heat, chemical inertness, optimum dielectric properties, and low frictional coefficient is expected to prompt the market upsurge. The growing utility of PTFE across cash-rich industrial and chemical processing, automotive, pharmaceuticals, building and construction, aerospace, and electrical and electronics are expected to shore-up the escalation of the profit earned for the polytetrafluoroethylene (PTFE) market. MRFR study reveals the automotive industry and the chemical and industrial processing sectors are observed to drive the PTFE market on a global scale.
The segment study of the global polytetrafluoroethylene (PTFE) market share is based on form and application. Insights from segment study of the market reveals untapped potential and revenue generating hotspot of the market.
The form-based segments of the polytetrafluoroethylene (PTFE) market are fine powder, dispersion, granular/molded powder, and micronized powder. The granular or molded powder market is likely to earn high profit for the worldwide PTFE market by 2030. The fine powder dispersion segment is likely to earn high revenue in the near future.
The application-based segments of the polytetrafluoroethylene (PTFE) market are automotive, aerospace, chemical and industrial processing, building and construction, pharmaceuticals, electrical and electronics, and consumer goods among others. The automotive industry is expected to promote the PTFE market owing to the upscaling demand in the sector. The increase in building and construction activities that contribute to the need for PTFE is expected to promote the market rise.
The report offers an in-depth analysis on the ongoing trends of polytetrafluoroethylene revenue growth in different regions and their responses to changing demographic factors.
In Asia Pacific, the market of polytetrafluoroethylene is expected to hold a decent portion of the global PTFE market. China is likely to lead the APAC PTFE market owing to the presence of several manufacturing companies that are present in the region. China is known as the largest importer of gas and oil. Their primary energy consumption is dominated by coal, resulting in environmental concerns due to increase in air pollution. China is now introducing employing policies that can curb the utility of gas leading to the increase in demand for PTFE that can favor APAC market upsurge.
In North America, The US and Canada can earn high revenue as several PTFE producers reside in this region. The launch of innovations by them that promises long-term benefits is expected to add to the regional PTFE market growth. New reforms introduced by private companies are also helping in the reduction of the monopoly of state-owned companies, thus is likely to drive the PTFE market in the region.
In Europe, the expansion of the electrical and electronics industry in the UK and other EU regions is likely to prompt the rise of the PTFE market in this region. The growing demand and upscaling sales of video cameras, computers, compact discs, cell phones, photocopiers, fax machines, and various other important computer components is likely to prompt the polytetrafluoroethylene as the electronic sector is one of the high-end consumers of PTFE,which, in turn, can benefit EU market along the analysis tenure.
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China Haohua Chemical Group (China), Daikin Industries (Japan), The Chemours Company (U.S.), Asahi Glass Company (Japan),Halopolymer (Russia), Solvay (Belgium), and Hubei Everflon Polymer CO., Ltd (China), 3M (U.S.), DowDupont (U.S., and Solexis SA (Switzerland) are some reputed players in the global polytetrafluoroethylene (PTFE) market that are enlisted by MRFR.
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