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Polytetrafluoroethylene (PTFE) is a fluorocarbon solid that is formed by the process of polymerization of the monomer tetrafluoroethylene (TFE). PTFE is non-reactive and, hence, is extensively used in pipe works and containers for corrosive and reactive chemicals. It is also used as a lubricant owing to its ability to reduce wear and fuel consumption in machinery and as graft material in the healthcare industry. PTFE possess excellent properties such as chemical inertness, excellent resistance to heat, low frictional coefficient, and optimum dielectric properties which paves the way for its application in several industries. The major end-use applications of PTFE include chemical and industrial processing, pharmaceuticals, automotive, aerospace, electrical and electronics, and building and construction. The Global Polytetrafluoroethylene (PTFE) Market is very lucrative and is mainly driven by the demand from the chemical and industrial processing and automotive industries.According to MRFR analysis, the global market is expected to register a CAGR of over 6% during the forecast period. The global market has been segmented on the basis of form, application, and region. On the basis of form, the granular/molded powder segment was the largest in 2017 and is expected to remain so during the forecast period. The cost-competitive nature of granular PTFE along with the ease of production is accountable for the growth of the segment. Moreover, granular PTFE offers excellent properties such as high thermal resistance, water repellency, and enhanced chemical resistance, making it ideal for the manufacturing of rods, gaskets, plates, seals, pistons, valves, and expansion joints among others. On the basis of application, the chemical and industrial processing segment is expected to be dominant during the forecast period. PTFE is widely used to form films, coatings, and components and machinery in the chemical and industrial processing sector.
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Regional Analysis
The Global Polytetrafluoroethylene (PTFE) Market has been segmented, by region, into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia-Pacific is expected to be the fastest-growing regional market. Increasing automobile production in the region is acting as a major driver for the growth of the market. PTFE is extensively used in automobiles, replacing metal, due to its light weight which, in turn, improves the fuel efficiency of vehicles. Additionally, rapid industrialization, mainly in China, India, and Japan, is further driving the demand for PTFE in chemical and industrial processing applications.
North America was the largest market in 2017 and is expected to maintain its dominance during the review period. The presence of developed aerospace and automobile industries contributes substantially to the growth of the market mainly in the U.S. and Canada. Moreover, the growing adoption of PTFE in the pharmaceuticals, healthcare, and electrical and electronic industries is fueling market demand. The European market is expected to closely follow the North American market during the review period. The developed automobile and healthcare industries in the region are substantially contributing to the growth of the market.
Segmentation
The Global Polytetrafluoroethylene (PTFE) Market has been segmented by form, application, and region. On the basis of form, the market has been segregated into granular/molded powder, fine powder, dispersion, and micronized powder. On the basis of application, the market has been further segregated into chemical and industrial processing, automotive, aerospace, pharmaceuticals electrical and electronics, building and construction, consumer goods, and others. Based on region, the market has been segregated into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
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