The global polytetrafluoroethylene market size was USD 1.85 Billion in 2021 and is expected to register a revenue CAGR of 6.7% over the forecast period, according to the latest report by Reports and Data.
The growing demand for products in the chemical and industrial processing sectors, the increasing preference of doctors for films and flakes, various grafts made of biocompatible PTFE for cardiovascular, orthopedic, ophthalmic and dental procedures, and the development of recycled PTFE with higher compressive strength and durability are key factors behind promote market revenue growth. Polytetrafluoroethylene (PTFE) is a synthetic fluoropolymer of tetrafluoroethylene, which has many applications. This synthetic resin is made by polymerizing tetrafluoroethylene and is very strong, tough, waxy, and non-flammable. It is distinguished by typical qualities, including high melting point, greasy surface and chemical resistance.
Polytetrafluoroethylene (PTFE) is a typical fluoropolymer, consisting of fluorine and carbon atoms and insensitive to heat, light and chemicals. In cookware, it is most often used as a non-stick coating. In addition, it is a cost-effective solution for many industries including Oil Gas (OG), chemical processing, manufacturing, electrical/electronic and construction. The discovery of PTFE changed the development of fluoropolymers and their usefulness in many applications such as low-tech non-stick pan surfaces and exotic high-tech medical and hospital applications, including implants, surgical instruments and testing equipment, as well as impressive applications in fire equipment.
PTFE is one of the best insulators and has a long history of use, able to insulate up to 500 volts/mil in thin areas. There are certain grades of PTFE with significantly higher dielectric strength commonly used in cable and conductor sheathing as well as in capacitors as a conductive surface insulator. The most common form of PTFE is a close-tolerance, thick-walled extrusion tube where it is not possible to machine or drill long lengths to exact specifications.
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Companies profiled in the market report include 3M, Asahi Glass Co. Ltd., Gujarat Fluorochemicals Ltd., Solvay SA, Daikin Industries, Shanghai 3f New Material Co., Ltd., Dongyue, Chemours, Halopolymers Ojsc, and Zhejiang Juhua.
Some Key Highlights from the Report
- The Asia-Pacific market accounted for the largest share of sales in 2021. China mostly imports her FVs, but the country's primary source of energy is coal. The oil and gas market is operated by China's state-owned oil and gas companies such as China National Petroleum Corporation. (CNPC) and China Offshore Oil Company. monopoly. New reforms are expected to make it easier for private companies to invest in the country and reduce the monopoly of state-owned enterprises.
- Increased private sector investment is expected to expand the country's oil and gas sector and drive the PTFE market. In addition, Japan's electrical and electronics sector is a world leader in the production of computers, copiers, fax machines, mobile phones, video cameras, compact discs and other critical computer components. Therefore, all these market trends are expected to drive the demand for he PTFE market during the forecast period.
- On July 1, 2021, Solvay acquired Bayer's global coatings business, with a factory in Mereville, France, and toll operations in the United States and Brazil.
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For the purpose of this report, Reports and Data has segmented the global polytetrafluoroethylene industry into Manufacturing Process Outlook, Product Mode Outlook, End-Use Outlook, and Region:
Manufacturing Process Outlook (Revenue, USD Billion; 2019-2030)
Product Mode Outlook (Revenue, USD Billion; 2019-2030)
- Fine Powder
- Micronized Powder
- Aqueous Dispersions
End-Use Outlook (Revenue, USD Billion; 2019-2030)
Regional Outlook (Revenue, USD Billion; 2019-2030)
- North America
- Rest of Europe
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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