[134 Pages Report] The Polytetrafluoroethylene (PTFE) market was valued at USD 1.87 billion in 2016 and is projected to reach USD 2.66 billion by 2022, at a CAGR of 6.1% from 2017 to 2022. PTFE is the most dominant type of fluoropolymer that accounts for approximately half of fluoropolymer consumption, globally. PTFE properties include chemical resistance, low friction, mechanical toughness, stress cracking, flexibility, and thermal resistance are responsible for its wide use among all fluoropolymers. PTFE finds application in various industries including chemical & industrial processing, automotive & aerospace, electronics & electrical, building & construction, and consumer goods.

Source: Investor Presentation, Secondary Literature, Expert Interviews, and MarketsandMarkets Analysis

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See how this study impacted revenues for other players in Polytetrafluoroethylene (PTFE) Market Client�s Problem Statement A leading manufacturer of PTFE wanted to explore market opportunities in the Asia Pacific. They wanted to analyze the competitive landscape in the same region, but their efforts did not achieve success. They also wanted to undertake inorganic growth strategies. The client engaged MnM to conduct a market assessment study. MnM Approach -MnM provided market sizing and forecast across various end-use industries, including chemical & industrial processing, electronics & electrical, automotive & aerospace, consumer goods, and others.

- A detailed assessment of the market dynamics in the Asia Pacific region.

For instance, factors driving the PTFE market, challenges faced by existing PTFE manufacturers, key opportunities in the region, and factors restraining entry to the market. A Porter's five forces analysis was also provided.

- Key inorganic strategies that could be adopted were listed.

- After analyzing the solutions provided by MnM, the client decided on entering the Indian market by establishing a production plant. Revenue Impact (RI) Over a five-year period, the client is projected to generate revenue greater than USD 10 million. Consult our Analyst now

By Form, Granular PTFE is estimated to be the largest segment of PTFE market

On the basis of form, the PTFE market is segmented into granular, fine powder, dispersion, and micronized. The granular powder form of PTFE is prepared by finely breaking down coarse particles obtained by suspension polymerization. It is used for molding using compression molding or ram extrusion molding. PTFE granular resins offer chemical inertness, high-temperature resistance, outstanding chemical resistance, low coefficient of friction, exceptional adhesion, low-temperature toughness, electrical properties, and excellent water repellant properties. Granular PTFE finds application in industries such as automotive & aerospace, and chemical & industrial processing owing to their resistance to high temperature and chemicals.



By End-use industry, Electronics & electrical segment to record the highest CAGR during the forecast period

Electronics & electrical is expected to be the fastest-growing market for PTFE. PTFE has significant applications in the electronics & electrical end-use industry as it offers excellent electrical insulation properties under harsh conditions such as high temperatures and aggressive chemicals. It also provides outstanding chemical and temperature resistance and design flexibility for component manufacturers and equipment designers. These properties of PTFE are driving the PTFE market in the electronics & electrical industry.

Source: Investor Presentation, Secondary Literature, Expert Interviews, and MarketsandMarkets Analysis

APAC to account for the largest market size during the forecast period.

On the basis of region, the PTFE market has been segmented into APAC, Europe, North America, the Middle East & Africa, and South America. APAC is projected to register the highest growth in the global PTFE market during the forecast period. Economic growth, the growth of manufacturing industries, cheap labor, increasing foreign investments and expanding application area of PTFE in chemical & industrial processing and electronics industries are expected to fuel the growth of the PTFE market. Countries such as China, Japan, and South Korea, which are the major hubs for the production of electronic components, are expected to witness significant market growth in Asia Pacific.

Market Dynamics

Driver: High demand in the end-use industries

PTFE has a large number of advantages over other polymers due to their versatile properties. The major properties of PTFE are high heat resistance, lightweight, high dimensional stability, and excellent chemical resistance. The major end-use industries where PTFE is widely used include consumer goods, building & construction, automotive & aerospace, electronics & electrical, and chemical & industrial processing. Also, one of the most significant drivers of the PTFE market is the growth of the automotive industry. PTFE is used in the making for various parts of an engine to improve performance and durability of the automotive parts and components. The use of PTFE in automobiles results in lower emissions and increased fuel efficiency. In the aerospace applications, it is essential to use a material, which is fire-retardant and emits low smoke and toxic gases. The various applications in aerospace require PTFE that can withstand aggressive application conditions under a broad range of temperatures.

Restraint: Increasing prices of PTFE

The prices of PTFE have fluctuated and witnessed an increase in the recent years. Recently, the PTFE prices have been increasing continuously due to shutting down of various Chinese and European manufacturing units. China accounted for more than 40% of the global consumption of PTFE in 2016 and is also the world�s largest PTFE manufacturer. The arrival of a large number of relatively low-cost Chinese products in the global market has resulted in the increasing price pressure on PTFE manufacturers in other countries. The prices have increased by 40% between 2016 and 2017. For instance, in Europe, granular PTFE, which was averagely priced around 6 USD/kg has increased more than 8 USD/kg. Currently, the average price in the PTFE market is 15 USD/kg. China has largely influenced the price competition in PTFE market. Other factors, which have affected PTFE prices are prices of its raw materials including fluorspar, the demand and supply gap, and the changing regulatory environment, affecting the PTFE market. Such fluctuations in prices can have an enormous impact and effect the PTFE demand.

Opportunity: High penetration in medical application

PTFE is used in the medical applications due to chemical inertness that makes it biocompatible. The chemical inertness also prevents any adverse reactions on contact with the body. Moreover, it resists wetting by biological liquids and is not chemically changed or degraded by medical fluids. PTFE, with properties, such as biocompatibility and lubricity, is one of the most preferred materials in the healthcare industry, especially in the form of membranes and grafts. Cardiovascular, peripheral vascular grafts, plastic surgery, orthopedic, ophthalmology, and dental are some of the applications in the healthcare industry, which use PTFE for its exceptional properties. Currently, the US and Europe are witnessing rapid growth of PTFE consumption in the healthcare industry. This industry is expected to witness a further increase in the demand for PTFE through new horizons as its large portion remains unexplored.

Challenge: Use of reprocessed PTFE

The increasing use of reprocessed PTFE is a challenge for the growth of the PTFE market as it alters the key properties of the resin. It introduces porosity into the material, which then causes issues with water absorption and dielectric strength. Also, weaker bonds between the molecules adversely affect the tensile strength and invariably cause crack lines within the material, which may not be visible, but will affect during long-term usage. Although the chemical inertness remains good (as it is still 100% PTFE), the higher water absorption makes the material vulnerable for applications, where the weather-ability and hydrophobic properties of pure PTFE are preferred.

Scope of the Report

Report Metric Details Market size available for years 2015�2022 Base year considered 2016 Forecast period 2017�2022 Forecast units Billion (USD) Segments covered Form (granular, fine powder, dispersion, micronized), Application (sheet, coatings, pipes, films, and others), End-use industry (chemical & industrial processing, electronics & electrical, automotive & aerospace, consumer goods, building & construction, and others), and Region Geographies covered North America, Europe, APAC, Middle East & Africa, and South America Companies covered Chemours (US), Daikin (Japan), 3M (US), Solvay (Belgium), Asahi Glass Company (Japan), Dongyue (China), Zhejiang Juhua (China), Shanghai 3F New Materials Company Ltd. (China), HaloPolymer (Russia), and Gujrat Fluorochemicals (India).

This research report categorizes the global PTFE market on the basis of material, structure, application, and region.

On the Basis of Form:

Granular

Fine Powder

Dispersion

Micronized

On the Basis of Application:

Sheet

Coating

Pipes

Films

On the Basis of End-use industry:

Chemical & Industrial Processing

Electronics & Electrical

Automotive & Aerospace

Consumer Goods

Building & Construction

On the Basis of Region:

APAC

Europe

North America

Middle East & Africa

South America

Key Market Players

Chemours (US), Daikin (Japan), 3M (US), Solvay (Belgium), Asahi Glass Company (Japan), Dongyue (China), Zhejiang Juhua (China), Shanghai 3F New Materials Company Ltd. (China), HaloPolymer (Russia), and Gujrat Fluorochemicals (India). The growing applications of PTFE in various end-use industries have encouraged companies to adopt several business strategies to stay competitive in the global market between 2015 and 2018. Leading companies have adopted new product launch, investment & expansion, and merger & acquisition as key growth strategies in the global PTFE market.

Recent Developments

In 2016, Chemours invested in a new Teflon finishes plant at Chemours� Changshu works site located in China. The company invested USD 15 million in this production unit. It enabled the company to provide a sustained supply of Teflon coatings in APAC for consumer and industrial applications. In 2017, Daikin acquired Heroflon, an Italian manufacturer of fluoropolymer compounds. Heroflon produces PTFE by combining different materials. The acquisition is expected to surge the sales of Heroflon. Furthermore, the acquisition would catalyze the product development to meet customer needs.

In 2016 Shanghai 3F New Material completed the acquisition of Jiangsu Changshu Advanced Materials (China). This acquisition increased the TFE and PTFE production capacity of the company

Critical questions the report answers:

Where will all these developments take the industry in the long term?

What are the upcoming trends for the PTFE market?

Which segment provides the most opportunity for growth?

Who are the leading vendors operating in this market?

What are the opportunities for new market entrants?

To speak to our analyst for a discussion on the above findings, click Speak to Analyst