The Polytetrafluoroethylene (PTFE) market is projected to grow at a CAGR of 6.1% during the forecast period.
The PTFE market is estimated to be USD 1.97 billion in 2017 and is projected to reach USD 2.66 billion by 2022, at a CAGR of 6.1% from 2017 to 2022. Exceptional properties of PTFE, increasing demand for high-performance polymers, high-growth end-use industries, and demand for PTFE in emerging countries are driving the PTFE market.
Among end-use industries, the electronics & electrical segment is projected to grow at the highest CAGR during the forecast period. Electronics & electrical is the fastest-growing end-use industry of the PTFE market.Exceptional properties of PTFE such as thermal stability, chemical inertness, temperature resistance, and insulation properties make it suitable in this end-use industry.
PTFE is majorly used in high-growth electronics & electrical applications such as wire coating, cable coating, fiber optics, and insulation applications.
Among forms, the granular segment is projected to grow at the highest CAGR from 2017 to 2022. Granular PTFE is the most widely used form of PTFE, as it is preferred due to its low price.Also, the technology required for the production of granular PTFE is less complicated and has a lower manufacturing cost.
It is used in various applications such as gaskets, films, coatings, impregnation, and insulation.
The PTFE market in Asia Pacific is projected to grow at the highest CAGR during the forecast period. The PTFE market in Asia Pacific is projected to grow at the highest CAGR during the forecast period.Economic growth, the growth of manufacturing industries, cheap labor, increasing foreign investments and expanding application area of PTFE in chemical & industrial processing and electronics industries are expected to fuel the growth of the PTFE market.
Countries such as China, Japan, and South Korea, which are the major hubs for the production of electronic components, are expected to witness significant market growth in Asia Pacific.
This study was validated through primaries conducted with various industry experts worldwide. The primary sources were divided into 3 categories, namely company type, designation, and region. • By Company Type – Tier 1-70%, Tier 2 -20%, and Tier 3-10% • By Designation - C Level-5%, Director Level-20%, and Others-75% • By Region - North America-10%, Europe-30%, Asia Pacific-40%, Middle East & Africa -15%, and South America-5%
Companies Profiled in the Report: Key players profiled in the report include Chemours Company (US), Daikin (Japan), 3M (US), Solvay (Belgium), Asahi Glass Company (Japan) , Shandong Dongyue (China), Zhejiang Juhua (China), Shanghai 3F New Materials (China), HaloPolymer (Russia), and Gujrat Fluorochemicals (India).
Research Coverage: The report offers insights on PTFE used in various end-use industries across regions.It aims at estimating the size of the PTFE market during the forecast period and projects future growth of the market across different segments, such as form, end-use industry, and region.
Furthermore, the report also includes an in-depth competitive analysis of the key players in the PTFE market, along with their company profiles, SWOT analysis, recent developments, and key market strategies.
Key Benefits of Buying the Report: The report will help market leaders/new entrants in the PTFE market by providing them the closest approximations of the revenues for the overall market and its various subsegments.This report will help stakeholders obtain a better understanding of the competitive landscape and gain insights to enhance their businesses and devise suitable market strategies.
The report will also help stakeholders understand the pulse of the market and help acquire information on key market drivers, restraints, challenges, and opportunities affecting the growth of the PTFE market.
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