Global Polytetrafluoroethylene (PTFE) Market Report 2023: Strong Government Focus on Green Hydrogen and Hydrogen Fuel Cells Presents Opportunities

Jun 25, 2023

Global Polytetrafluoroethylene (PTFE) Market

Dublin, April 26, 2023 (GLOBE NEWSWIRE) -- The "Global Polytetrafluoroethylene (PTFE) Market by Form, Application (Sheets, Coatings, Pipes, Films), End-use Industry (Chemical & Industrial Processing, Automotive & Aerospace, Electrical & Electronics, Construction), and Region - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.

The PTFE market is projected to reach USD 4.0 Billion by 2028, at a CAGR of 6.4% from USD 2.9 Billion in 2023. Asia Pacific is home to several emerging economies with rapidly growing manufacturing sectors, which further drives the demand for PTFE. China is the largest producer and consumer of PTFE in the region. The growing demand for PTFE in China is mainly driven by the expanding manufacturing sector, which has increased the demand for PTFE-based products in various industries.

Dispersion segment is expected to account for the second-largest share in 2022.

PTFE aqueous dispersion concentrated liquid can be used in various applications such as dipping, coating, and spinning. It is used in general use for impregnation, fabric coatings, metal coatings, conveyor belt coatings, architectural, welding equipment, tapes or sheets, customized parts, and film coatings. It is also used as a coating for many substances in commodity industries such as stick-proof coating of frying pans and plates or rustproof coating on knives.

Coatings is expected to be the second-fastest growing application type for PTFE market during the forecast period, in terms of value.

PTFE coating is used in many industries such as automotive & aerospace, food processing, and medical devices to provide lubrication, reduce friction, and improve wear resistance. PTFE coatings improve durability and minimize friction in automotive applications. It is widely used to improve the performance and extend the lifespan of different materials and products, making them a valuable tool for many industries.

Based on region, Asia Pacific region was the largest market for PTFE in 2022, in terms of value.

Asia Pacific was the largest market for global PTFE, in terms of value, in 2022. The market in Asia Pacific is driven by innovation. Industrial expansion and technological developments in the region are driving the consumption of PTFE. The growth of the market is also expected to be supported by the improving global economy. China is the key market in the Asia Pacific. However, India is expected to witness high growth during the forecast period because of the high use of PTFE in various end-use industries in the region.

Market Dynamics

Drivers

Fast Growth in End-use Industries

Demand from Emerging Countries in Asia-Pacific

Restraints

Environmental Impact of Ptfe Production

New Perfluorooctanoic Acid (Pfoa) Regulations

Opportunities

High Penetration in Medical Applications

Strong Government Focus on Green Hydrogen and Hydrogen Fuel Cells

Challenges

Non-Biodegradability of PTFE

Key Attributes:

Report Attribute

Details

No. of Pages

224

Forecast Period

2023 - 2028

Estimated Market Value (USD) in 2023

$2.9 Billion

Forecasted Market Value (USD) by 2028

$4 Billion

Compound Annual Growth Rate

6.4%

Regions Covered

Global

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Ptfe Market, by Form6.1 Introduction6.2 Granular/Molded Powder6.2.1 Manufacturing6.2.2 Properties6.2.3 Applications6.3 Fine Powder6.3.1 Manufacturing6.3.2 Properties6.3.3 Applications6.4 Dispersion6.4.1 Manufacturing6.4.2 Properties6.4.3 Applications6.5 Micronized Powder6.5.1 Manufacturing6.5.2 Properties6.5.3 Applications

7 Ptfe Market, by Application7.1 Introduction7.2 Sheets7.2.1 Frequent Usage of Ptfe Sheets in the Food Industry to Drive Demand7.3 Coatings7.3.1 Ptfe Coatings Widely Used to Improve Performance and Extend Lifespan7.4 Pipes7.4.1 Demand for Ptfe Pipes to be Driven by Requirements from Chemical & Pharmaceutical Industries7.5 Films7.5.1 Unique Combination of Ptfe Film Properties to Make Them Highly Versatile and Useful in Several Applications7.6 Other Applications

8 Ptfe Market, by End-use Industry8.1 Introduction8.2 Chemical & Industrial Processing8.2.1 Ptfe to be Highly Preferred Material in Chemical & Industrial Processing8.2.2 Chemical Processing8.2.3 Oil & Gas8.2.4 Pharmaceuticals8.2.5 Other Industrial Processing Applications8.3 Automotive & Aerospace8.3.1 Ptfe to Increase Performance & Safety and Extend Life of Essential Components8.3.2 Automotive8.3.3 Aerospace8.4 Electrical & Electronics8.4.1 New Advancements and Growing Consumption of Electrical & Electronics to Fuel Demand for Ptfe8.4.2 Telecommunications8.4.3 Semiconductors8.4.4 Electronic Components and Gadgets8.4.5 Electrical8.5 Building & Construction8.5.1 Growing Construction Activities to Drive Ptfe Market8.6 Consumer Goods8.6.1 Ptfe to Find Usage in Consumer Goods Due to Non-Stick Properties8.7 Other End-use Industries8.7.1 Healthcare8.7.2 Defense8.7.3 Agrochemical

9 Ptfe Market, by Region

10 Competitive Landscape

11 Company Profiles

12 Appendix

Companies Mentioned

3M

Aidmer

Art Flurotec Ltd.

Bemu Fluorkunststoff GmbH

Berghof Fluoroplastics Technology GmbH

Chenguang R.I.C.I

Daikin Industries, Ltd.

Dalau Limited

Dongyue Group Limited

Freudenberg Sealing Technologies GmbH

Gujarat Fluorochemicals Limited (Gfl)

Halopolymer, Ojsc

Hubei Everflon Polymer Co. Ltd.

Jiangsu Meilan Chemical Co. Ltd.

Maflon S.P.A

Micro Powders, Inc.

Mitsubishi Chemical Advanced Materials

Shamrock Technologies

Shanghai Huayi 3F New Materials Co. Ltd.

Solvay

Srf Limited

The Agc Group

The Chemours Company

Zeus Industrial Products, Inc.

Zhejiang Juhua Co. Ltd.

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Global Polytetrafluoroethylene (PTFE) Market