The global Polytetrafluoroethylene market size was valued at USD 2.87 billion in 2017 and is anticipated to progress at a CAGR of 5.2% from 2018 to 2025. according to a new report by Grand View Research, Inc. Increasing demand from various application industries, especially electrical and electronics sector, is expected to drive PTFE market. PTFE is an important fluoropolymer, accounting for a significant chunk of the global market. It is a flexible, non-resilient, and robust material with excellent chemical resistance and thermal properties. It is also an excellent insulator over a wide range of frequency and temperatures.The product finds numerous applications in different industries including automotive and transportation and chemical processing due to its properties, such as chemical inertness, superior electric insulation, heat and weather resistance, and low coefficient of friction.
However, global product demand is projected to exceed the supply, particularly due to novel applications, thereby propelling market growth. The global industry is concentrated in nature with prominent industry participants accounting for a majority of its share. Companies are trying to reduce the production costs, improve supply chain dynamics, and develop high-quality products by investing in R&D. High operational and maintenance costs associated with PTFE resin plants are keeping the threat of new entrants to a minimum.
Granular PTFE is ideal for molding several products and stock shapes, such as sheets, tubes, and rods. Granular products segment led the global Polytetrafluoroethylene (PTFE) market and is expected to continue its dominance in the forecast period. Such products are available in chemically-modified grades.
Industrial and chemical processing was the largest application segment in 2017 and will continue its dominance over the forecast period. Industrial processing applications include linings, gaskets, washers, seals, pump interiors, and spacers. The PTFE coatings in the chemical processing industry offer enhanced protection against harsh substances. Automotive and transportation industry plays a key role in the market growth in Asia Pacific. Key companies in the region are providing several PTFE products to meet the rising demands from automotive OEMs and tier 1 suppliers.
A large number of new vehicle manufacturing facilities in the emerging markets of India, China, and Japan are boosting the growth of the global lightweight automotive materials. This, in turn, is providing lucrative growth opportunities to the PTFE manufacturers in this region.
Asia Pacific accounted for the largest market share in 2017 and is projected to continue the trend over the forecast period. It is also one of the fastest-growing regions. On the other hand, North America and Europe, being one of the mature industries for electronics, led to continuous technological advancements for end products. This factor is projected to increase the demand for PTFE in North America and Europe over the forecast period.
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Further key findings from the report suggest:
This report forecasts revenue and volume growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global Polytetrafluoroethylene (PTFE) market report on the basis of product, application, and region:
• Product Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
o Granular
o Micro-powder
o Fine-powder
o Others
• Application Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
o Industrial & Chemical Processing
o Electrical & Electronics
o Automotive & Transportation
o Others
• Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
o North America
 U.S.
 Canada
 Mexico
o Europe
 Germany
 U.K.
 France
o Asia Pacific
 China
 India
 Japan
o Central & South America
 Brazil
o Middle East & Africa