Global Polytetrafluoroethylene Market to Show $6.5 billion by 2020
Zion Market Research has published a new report titled “Polytetrafluoroethylene (PTFE) (Granular, Fine Powder, Dispersion, Micronized Powder) Market for Automotive & Transportation, Electrical & Electronics, Chemical Processing, Industrial Equipment and Other Applications: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2014 – 2020”. According to the report, the global polytetrafluoroethylene market was valued at approximately USD 4 billion in 2014 and is expected to reach approximately USD 6.5 billion by 2020, growing at a CAGR of around 8% between 2015 and 2020. In terms of volume, global polytetrafluoroethylene market stood at 295 kilo tons in 2014.
Polytetrafluoroethylene (PTFE) is one of the most important types of fluoropolymers. Polytetrafluoroethylene is widely used in large number of applications across host of industries. Polytetrafluoroethylene is a synthetic resin produced by the polymerization of tetrafluoroethylene. Polytetrafluoroethylene is also recognized as Teflon (brand name of DuPont). Polytetrafluoroethylene produced by carbon backbone chain, and exhibit strong carbon-fluorine bond. Fluorspar, chloroform and hydrochloric acid are some of the important raw materials for polytetrafluoroethylene. Polytetrafluoroethylene exhibits excellent physical as well as chemical properties such as high resistance to solvents and flames, high melting point, non-stick properties, strength, toughness, etc.
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The major driving factor for the global polytetrafluoroethylene market is strong demand from various end-user industries including chemical processing, textile, medical, cookware, electronics and electrical, etc. Revival of global economy with rise in demand for electronic appliances is driving demand for polytetrafluoroethylene. Demand for polytetrafluoroethylene is gaining popularity for wires to be used in aerospace industry and computer applications due to its excellent dielectric properties. Non-stick cookware is another important outlet for p non-stick cookware polytetrafluoroethylene owing to its inflammability and non-stick properties. However, volatile raw material prices and stringent environmental regulations are expected to remain major concern for the manufacturers.
On the basis of product type, polytetrafluoroethylene is segmented as granular, fine powder, micronized powder and others (dispersion, liquid, etc.). Granular PTFE was one of the largest product segments of polytetrafluoroethylene market with slightly over 30% share in total volume consumption in 2014. This growth can be attributed to widely use in molding applications and as a feedstock for filled compounds. Fine powder and micronized powder are also held significant share of global PTFE market in 2014.
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Automotive & transportation, electrical & electronics, chemical processing, industrial equipment and other (cookware, construction and textiles) are some of the leading application markets for polytetrafluoroethylene. Automotive & transportation was one of the leading application segments. It accounted for around for over 25% share in the polytetrafluoroethylene market in terms of volume in 2014 and is expected to exhibit robust CAGR between 2015 and 2020. Industrial equipment and electrical & electronics are another important outlets for polytetrafluoroethylene. Electrical and electronics is expected to exhibit fastest CAGR during the forecast period.
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Asia Pacific dominated the global polytetrafluoroethylene market with over 40% share in total volume consumption in 2014. Cheap availability of raw materials and growth in various end-user industries is resulted into growing polytetrafluoroethylene demand in the region. Europe was the second largest market for polytetrafluoroethylene and accounted for around 25% shares in total volume consumption in 2014. North America and Europe are also expected to be exhibit strong growth in demand for polytetrafluoroethylene over the forecast period. Latin America and Meddle East & Africa are also expected to grow at a moderate pace.
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Some of the key participants in the global polytetrafluoroethylene market include DuPont, Daikin Industries, Ltd., AGC Chemicals Europe, Ltd., Dyneon GmbH, Solvay Solexis, 3M, AGC Chemicals Europe, Ltd., Gujarat Fluorochemicals Ltd., HaloPolymer, OJSC (Russia) and Jinan 3F Fluoro-Chemical Co. Ltd.
This report segments the global polytetrafluoroethylene market as follows:
Global Polytetrafluoroethylene Market: Product Segment Analysis
- Fine Powder
- Micronized Powder
- Others (Dispersion, Liquid, etc.)
Global Polytetrafluoroethylene Market: Application Segment Analysis
- Automotive & Transportation
- Electrical & Electronics
- Chemical Processing
- Industrial Equipment
- Others (Cookware, Construction, Textiles, etc.)
Global Polytetrafluoroethylene Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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