PTFE Market Size Worth $4.33 Billion by 2025
February 27, 2019 | PRNewswireEstimated reading time: 1 minute
The global polytetrafluoroethylene (PTFE) market size is expected to reach $4.33 billion by 2025, according to a new report by Grand View Research, Inc. The global market is projected to expand at a CAGR of 5.2% over the forecast period. Polytetrafluoroethylene is widely used in a broad range of applications including chemical processing, industrial processing, electrical and electronics, building and construction, and automotive and transportation. It is an opaque plastic fluoropolymer made by free-radical polymerization of Tetrafluoroethene (TFE) monomers. The market is mainly driven by the growing product demand in non-stick cookware and wire and cable coatings.
Highlights:
- Fine-powder PTFE is estimated to be the fastest-growing product segment over the forecast period
- In terms of revenue, the industrial and chemical processing application segment is expected to witness a CAGR of 5.1% over the forecast period
- U.S. is the largest market in North America region and accounted for over 78% of the North America market share in 2017
- Some of the prominent companies in the global Polytetrafluoroethylene (PTFE) market include The 3M Company; AGC Chemicals Americas, Inc.; Arkema S.A.; Solvay S.A.; and DowDuPont, Inc.
However, automotive and transportation remained the largest application segment for PTFE. In U.S., the automotive industry is at the forefront of technology and product advancement. New R&D initiatives are transforming the auto sector to better respond to the opportunities created in the past few years. According to The International Trade Administration (ITA), U.S. exported approximately 2 million new light vehicles and 130,000 medium and heavy trucks to more than 170 markets across the world in 2017. U.S. is the largest contributor in the North America region and is also expected to drive the global market owing to the presence of major application industries in the country.
Electrical and electronics application segment is projected to witness the fastest growth over the forecast years due to increasing product use in semiconductor fabrication, lithium-ion batteries, and wires and cables insulation. China is one of the world's largest manufacturing hub for electronic products. This factor is expected to fuel the demand for PTFE in electronics and electrical application segment. Automotive industry in India is set to witness major changes in the form of shared mobility and Electric Vehicles (EVs). Positive outlook in the Indian automotive industry is expected to augment the product demand over the next few years.
Suggested Items
Commercial Demand Continues to Be the Main Driver of Personal Computing Device Shipments into the GCC Region
03/26/2024 | IDCThe Gulf Cooperation Council (GCC) personal computing device (PCD) market, which is made up of desktops, notebooks, and workstations, declined 4.0% year on year in 2023, with high inventory levels and reduced consumer spending the primary causes.
Suppliers Aim to Raise Contract Prices, But With Uncertain Demand, 2Q24 DRAM Price Increase Expected to Narrow to 3–8%
03/26/2024 | TrendForceTrendForce’s latest report reveals that despite DRAM suppliers’ efforts to trim inventories, they have yet to reach healthy ranges. As they continue to improve their lose situations by boosting capacity utilization rates, the overall demand outlook for this year remains tepid.
LPKF Reports Strategic Successes and Narrowly Achieves Forecast for 2023 Financial Year
03/26/2024 | LPKFLPKF Laser & Electronics SE generated revenue of EUR 124.3 million in the financial year (previous year: EUR 123.7 million) and earnings before interest and tax (EBIT) of EUR 3.7 million (previous year: EUR 6.8 million), putting the EBIT margin at 3.0% (previous year: 5.5%).
Arlon EMD and EMC Announce Expansion in California
03/25/2024 | Arlon EMDArlon EMD, a division of Elite Materials Company (EMC), announces a factory expansion at the Rancho Cucamonga, CA location. Arlon is a global leader in high performance thermoset substrates for mission critical printed circuit boards manufactured for high endurance and long-life programs. Arlon has a 45-year history of manufacturing specialty materials for the Aerospace, Industrial and Military (AIM) markets.
Intraratio Enhances MES + Yield / IoT Management with New Advanced Manufacturing Analytics
03/22/2024 | IntraratioIntraratio announced AICard, which harnesses the power of artificial intelligence and machine learning to empower manufacturers to make informed decisions quickly and accurately regarding product quality and manufacturing line performance and optimization.