According to IMARC Group latest report titled” Polytetrafluoroethylene (PTFE) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on polytetrafluoroethylene (PTFE) market. The report also includes competitor and regional analysis, and contemporary advancements in the global market.
The global polytetrafluoroethylene (PTFE) market size reached US$ 2.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 3.4 Billion by 2028, exhibiting a growth rate (CAGR) of 4.9% during 2023-2028.
Polytetrafluoroethylene (PTFE) represents a tough, waxy, and non-flammable synthetic resin that comprises carbon and fluorine atoms. It is manufactured through the free-radical polymerization procedure of chloroform, fluorspar, and hydrochloric acid. PTFE is generally used to give a non-stick coating to surfaces, especially cookware, including pans, baking trays, and industrial products. It is usually available in granular, powder, and micronized forms and exhibits numerous physical properties, such as resistance to chemicals, heat, ultraviolet (UV) rays, fatigue, low water absorption, and high electrical insulation. Consequently, this synthetic resin finds extensive applications across several sectors, including oil and gas, chemical processing, electrical, automotive, and construction.
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The widespread adoption of PTFE to manufacture industrial products, such as gaskets, vessel linings, pump interiors, rings, seals and well-drilling equipment, is among the key factors driving the polytetrafluoroethylene (PTFE) market. Moreover, the escalating demand for this synthetic resin in improving the overall functioning and minimizing the downtime of these machines and automotive components and enhancing its utilization across industries is also stimulating the market growth. Besides this, the rising usage of PTFE in oil and gas exploratory activities, on account of its high resistance to harsh chemicals, acids, and caustic, is acting as another significant growth-inducing factor. Furthermore, the expanding medical industry across the globe is further propelling the global market. Apart from this, the shifting preferences among medical practitioners for various membranes and grafts manufactured using biocompatible PTFE for cardiovascular, orthopedic, ophthalmic, and dental procedures are positively influencing the market growth. Additionally, the development of reprocessed synthetic resin with higher compressive strength and durability is anticipated to fuel the polytetrafluoroethylene (PTFE) market over the forecasted period.
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The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- AGC Inc.
- Zhonghao Chenguang Research Institute
- Daikin Industries Ltd.
- Dongyue Group
- Gujarat Fluorochemicals Limited
- Halopolymer OJSC
- Jiangsu Meilan Chemical Co. Ltd
- Shanghai 3F New Material Co. Ltd
- Solvay SA
- The 3M Company
- The Chemours Company
- Zhejiang Juhua Co. Ltd
Polytetrafluoroethylene (PTFE) Market Segmentation:
Our report has categorized the market based on region, form, type, application and end-use industry.
Breakup by Form:
- Micro Powder
- Fine Powder
Breakup by Type:
- Virgin PTFE
- Stainless Steel Filled PTFE
- Carbon Filled PTFE
- Bronze Filled PTFE
- Glass Filled PTFE
Breakup by Application:
Breakup by End-Use Industry:
- Industrial & Chemical Processing
- Electrical & Electronics
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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