ALBANY, New York, April 4, 2017 /PRNewswire/ --
Transparency Market Research has released a new market report titled "Polytetrafluoroethylene (PTFE) (Granular, fine powder, micro powder, others) Market for Industrial and chemical processing, Automotive, Electricals and electronics and others - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2016 - 2024," According to the report, the global PTFE market was valued at US$ 3,482.8 Mn in 2015 and is anticipated to reach US$ 5,181.6 Mn in 2024, expanding at a CAGR of 4.6% between 2016 and 2024.
On the basis of product, PTFE is segmented into four product types such as granular, fine powder, micro powder and others. Granular PTFE has high molecular weight and is usually used in molding applications. Granular PTFE is used for the manufacturing of rods, billets, sheets, and other general molding products. Granular based PTFE is produced by suspension polymerization whereas fine powder and dispersion PTFE is prepared by emulsion or dispersion polymerization. Micro powdered PTFE is a low molecular weight PTFE used in thermoplastics, elastomers, coatings, lubricants and grease. In terms of volume, the granular segment accounted for significant share of the PTFE market followed by others and fine powder in 2015.
On the basis of application, the global PTFE market can be classified into various industry segments such as industrial and chemical processing, electrical and electronics, automotive and others. The global PTFE market is dominated by industrial and chemical processing segment and the segment accounted for 32.3% of the overall PTFE market in 2015. In terms of volume, industrial and chemical processing segment dominated the PTFE market in 2015 and this trend is likely to continue during the forecast period.
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Availability of less expensive raw materials, land, skilled labor, along with equipment in Asia Pacific has results as a key region for producers of polytetrafluoroethylene (PTFE). In terms of regional demand, Asia Pacific dominated among other regions followed by Europe and North America. China accounted for significant share of PTFE consumption in Asia Pacific region and this trend is likely to continue during the forecast period owing to the robust of growth numerous manufacturing sector in the country in last few years.
Key companies operating in the PTFE market include The Chemours Company, Daikin Industries, Ltd., 3M, HaloPolymer OJSC, Shamrock Technologies, Micro Powders, Inc., Reprolon Texas Solvay, and Asahi Glass Co., Ltd.
Research Press Release: http://www.transparencymarketresearch.com/pressrelease/polytetrafluoroethylene-ptfe-market.htm
The report segments the global PTFE market as follows:
Polytetrafluoroethylene (PTFE), by Product:
- Fine Powder
- Micro Powder
Polytetrafluoroethylene (PTFE) Market, by Application:
- Industrial and chemical processing
- Electrical and Electronics
Polytetrafluoroethylene (PTFE) Market, by Region:
- North America
- Rest of Europe
- Asia Pacific
- Rest of APAC
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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