NEW YORK, July 20, 2017 /PRNewswire/ --
Surging demand for micronized PTFE (polytetrafluoroethylene) from various industries such as medical, pharmaceutical, and automotive, is expected to drive growth of the global micronized PTFE market.
A recent report by Persistence Market Research (PMR) estimated the global micronized PTFE market to register an impressive 6.1% CAGR during the forecast period 2017 to 2025. The market will reach revenues worth US$ 380.4 Mn in 2017.
Virgin-sourced PTFE will Remain Dominant in the Global Micronized PTFE Market
Virgin-sourced micronized PTFE is expected to remain dominant in the global market, in terms of volume. Sales of virgin-sourced micronized PTFE will reach nearly 50,000 MT by 2025-end. Demand for recycled-sourced micronized PTFE will remain sluggish in the market during the forecast period, owing to its limited usability, inferior quality, and environmental issues.
Micronized PTFE will witness the highest demand for application in Ink, expanding at 7.3% CAGR through 2025, in terms of volume. In addition, coatings will be the second largest application for micronized PTFE by 2025-end. Sales of micronized PTFE in lubricant & grease application will exhibit the lowest CAGR through 2025.
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Pharmaceutical & Medical Industry will continue to be the Largest End-User of Micronized PTFE
Pharmaceutical & medical industry will continue to be the largest end-user of micronized PTFE in the global market. In addition, sales of micronized PTFE in pharmaceutical & medical and electronics sector will witness parallel expansion at 6.9% CAGR. However, revenue from sales of micronized PTFE in electronics industry will remain comparative lower than pharmaceutical & medical industry.
In terms of volume, Asia Pacific (APAC) will remain the largest market for micronized PTFE, with sales pegged to surpass 20,000 MT by 2025-end. Emerging economies in APAC are driving global demand for flexible packaging, thereby fostering demand for micronized PTFE. In addition, various construction projects are being undertaken in APAC, which in turn will fuel demand for micronized PTFE in this region.
Western fluoropolymer producers are entering into partnership with APAC manufacturers who possess technological capabilities and produce high-purity fluorinated monomers. For example, Shanghai 3F New Materials has made a Joint Venture with DuPont in the recent past, for operation of fluorochemicals. These factors are further expected to drive growth of the global micronized PTFE market in APAC.
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Micronized PTFE Manufacturers in Europe are focusing on Integrating Cutting-edge Technologies & Generating Value Addition
Europe will remain the second largest market for micronized PTFE, with sales expanding at 5.8% CAGR through 2025. Growth of Europe's major sectors including packaging & textile, construction, automotive, electronics, maritime, aerospace, energy generation, and healthcare are expected to affect numerous important micronized PTFE end-users significantly in this region. Manufacturers are compelled in differentiating their products, owing to rapid growth of technology in the region. The manufacturers are focusing on integrating cutting-edge technologies and generating value addition to micronized PTFE quality, on the back of recent application developments across various end-use industries. This will further drive the market growth in Europe.
Production and operation facilities of micronized PTFE in Europe are subject to extensive environmental health and safety laws & regulations. This is expected to incur increased costs for manufacturers, for complying with new regulatory requirements. This is estimated to curb the market growth of micronized PTFE in Europe.
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Leading market players identified in PMR's report include
- 3M Company
- Chemours Company
- Daikin Industries, Ltd.
- Gujrat Fluorochemicals Ltd
- Maflon S.p.a
- Micro Powder, Inc
- Shamrock Technologies
- Solvay S.A.
- JiangXi Aidmer Seal & Packing Co., Ltd
- Shanghai 3F New Materials Co., Ltd.
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Persistence Market Research Overview
Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance.
To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes.
Queries regarding these research findings can be addressed to Persistence Market Research's analysts at [email protected]
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SOURCE Persistence Market Research Pvt. Ltd.