Polytetrafluroethylene (PTFE) Market to Grow USD USD 1156.8 Million in 2028 with a CAGR of 8.29% | Valuates Reports
BANGALORE, India, Nov. 22, 2022 /PRNewswire/ -- The Global PTFE Market is Segmented by Type (Granular, Fine Powder, Dispersion, Micronized), by Application (Chemical and Industrial Processing, Electronics & Electrical, Automotive & Aerospace, Consumer Goods, Building and Construction): Opportunity Analysis and Industry Forecast, 2022–2028. It is published in Valuates Reports under the Chemicals Industry Category.
Due to the COVID-19 pandemic, the global PTFE market size is estimated to be worth USD 717.3 Million in 2021 and is forecast to be a readjusted size of USD 1156.8 Million in 2028 with a CAGR of 8.29% during the forecast period 2022-2028.
Major factors driving the growth of the PTFE market are:
PTFE is used in a variety of end-user industries including chemical and industrial processing, electronics and electrical, automotive and aerospace consumer goods, building and construction due to its characteristics such as resistance to nearly all chemicals, the continuous working temperature of +260°c, very high electrical resistance, resistance to weather, UV light and corrosion inert, non-toxic and biocompatible. The PTFE market is anticipated to increase as a result of these factor.
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TRENDS INFLUENCING THE GROWTH OF THE PTFE MARKET:
The suspension polymerization process produces coarse particles that are then coarsely ground into PTFE's granular powder form. It is used for molding with ram extrusion or compression molding. Chemical inertness, remarkable chemical resistance, low coefficient of friction, exceptional adhesion, low-temperature toughness, electrical characteristics, and strong water repellency are all features of PTFE granular resins. Because of its resilience to high temperatures and chemicals, granular PTFE finds use in a variety of industries, including automotive, aerospace, and chemical and industrial processing. These factors are expected to drive the growth of the PTFE market.
In the electronics and electrical end-use industries, PTFE is widely used because it provides good electrical insulating qualities in challenging environments like high temperatures and hostile chemicals. For component producers and equipment designers, it also offers exceptional chemical, temperature, and design freedom. The PTFE market in the electronics and electrical industry is being driven by these characteristics of PTFE.
For steel and reinforced plastic vessels and columns used in reactions, distillations, absorptions, and other chemical processes, PTFE resins provide an efficient lining. These linings increase service life, lower maintenance requirements, and safeguard product purity. For pans and other cookware, polytetrafluoroethylene is used as a non-stick coating. It is frequently used in containers and pipework for reactive and corrosive chemicals because it is non-reactive, in part due to the strength of the carbon-fluorine bonds. Furthermore, it functions as a paint sealer, providing automobile with a non-stick layer that will smooth out the paint and keep it bright and new-looking. Additionally, Teflon can act as a transparent layer for paint. This increases the resistance of car to dings and swirls. Thus the increasing application in various end-user industries is expected to fuel the PTFE market growth.
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PTFE MARKET SHARE:
According to estimates, the PTFE market's largest segment is granular PTFE.
During the forecast period, the Electronics & Electricals segment is expected to have the greatest CAGR.
The fastest-growing markets for PTFE are in APAC. Increased investments in chemical production facilities have been made in APAC as a result of the chemical industry's rapid growth. Furthermore, the current industrial revolution is being led by nations like China and India. These elements have given the PTFE market growth prospects.
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Key Companies:
- ElringKlinger Kunststofftechnik
- AFT Fluorotec Ltd
- Chesterton
- Seal Science
- SKF
- Parker Hannifin
- Eurosealings
- James Walker
- Trelleborg Sealing Solutions
- Kastas
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SIMILAR REPORTS:
- Granular Polytetrafluoroethylene Market
- PTFE Venting Membrane Market
- PTFE Architectural Membranes Market
- PTFE Hydrophilic Membrane Filter Market
- PTFE Copper Clad Laminate Market
- PTFE Architectural Fabrics Market
- PTFE Immersion Heater Market
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- PTFE & PTFE-based Gaskets Market
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