PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1538577
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1538577
The PTFE market size is projected to grow from USD 2.8 billion in 2024 to USD 3.5 billion by 2029, registering a CAGR of 4.3% during the forecast period. The global PTFE market is witnessing growth due to its versatile properties and it is also widely used in various industries due to its exceptional chemical resistance, low friction, and temperature tolerance properties. Furthermore, PTFE is required for the creation of new and innovative items with premium qualities, which drives the PTFE industry.
Scope of the Report | |
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Years Considered for the Study | 2021-2029 |
Base Year | 2023 |
Forecast Period | 2024-2029 |
Units Considered | Value (USD Million), Volume (Kilo tons) |
Segments | Form, Application, End-use Industry, and Region |
Regions covered | Asia Pacific, North America, Europe, Middle East & Africa, and South America |
"Pipes is projected to be the third fastest growing application in terms of value."
Pipes is projected to be the third fastest growing application in the PTFE market due to several factors. As PTFE pipes are valued because of their non-toxic and non-reactive properties, making them an ideal choice for application in food, pharmaceutical and other industries. The main advantage PTFE pipes possess is its resistance to corrosion, which also helps in transporting highly corrosive chemicals such as acids, solvents and other hazardous materials. They are also available in different sizes and configuration which gives the option to the customers
"Fine powder segment is expected to account for the second-largest share in 2023.."
Fine powder is expected to account for the second largest share in 2023 in terms of volume. PTFE fine powders are versatile form of fluoropolymer, by the process of paste extrusion, these fine powders can be converted into various shapes, tapes and insulation wires, which further increases density of material. When compared with other PTFE forms, fine powder exhibits superior stress crack resistance, higher thermal stability, lower permeability, and higher clarity. It is also used in various applications such as wire & cable insulation, tapes, hoses, tubings and others which contributes to this segment.
"North America is the second-largest market for PTFE."
North America holds a significant position as the second-largest region in the global PTFE market, driven by several factors such as the presence of many manufacturers, particularly in the chemical and electrical & electronics end-use industries which influences the demand for PTFE. The chemical industry is the heart of North America's manufacturing sector. It supplies two-thirds of its production to other industries within the manufacturing sector. The North American chemical industry is a significant part of the region's economy.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the PTFE market, and information was gathered from secondary research to determine and verify the market size of several segments.
the Middle East & Africa -10%
The PTFE market comprises major players such as AGC Inc. (US), Gujarat Fluorochemical Limited (India), DAIKIN INDUSTRIES, Ltd., (Japan), Dongyue Group (China), The Chemours Company (US), 3M (US), SYENSQO (Belgium), HaloPolymer, OJSC (Russia), Shanghai Huayi 3F New Materials Co.Ltd (China), and Micropowders,Inc. (US). The study includes in-depth competitive analysis of these key players in the PTFE market, with their company profiles, recent developments, and key market strategies.
Research Coverage
This report segments the market for PTFE market on the basis of form, application, end use industry, and region, and provides estimations for the overall value of the market across various regions. A detailed analysis of key industry players has been conducted to provide insights into their business overviews, products & services, key strategies, new product launches, expansions, and mergers & acquisition associated with the market for PTFE market.
Key benefits of buying this report
This research report is focused on various levels of analysis - industry analysis (industry trends), market ranking analysis of top players, and company profiles, which together provide an overall view on the competitive landscape; emerging and high-growth segments of the PTFE market; high-growth regions; and market drivers, restraints, opportunities, and challenges.