Polytetrafluoroethylene (PTFE) Market Forecasts to 2028 – Global Analysis By Form (Micronized, Fine Powder), Fabric Type (Coated Fabric, Non-Woven Fabric), Product, Application, and By Geography

Polytetrafluoroethylene (PTFE) Market Forecasts to 2028 – Global Analysis By Form (Micronized, Fine Powder), Fabric Type (Coated Fabric, Non-Woven Fabric), Product, Application, and By Geography

According to Stratistics MRC, the Global Polytetrafluoroethylene (PTFE) Market is accounted for $2.51 billion in 2021 and is expected to reach $4.33 billion by 2028 growing at a CAGR of 8.1% during the forecast period. Polytetrafluoroethylene (PTFE) is a synthetic resin produced after the polymerization of tetrafluoroethylene. PTFE is non-reactive and extensively used in pipe works and containers for corrosive and reactive chemicals.

Market Dynamics:

Driver:

Increasing demand from end-use industries

The significant end-use industries where polytetrafluoroethylene is broadly utilized include consumer goods, building & construction, automotive & aerospace, electronics & electrical, and chemical & industrial processing. PTFE is utilized in the making of different parts of an engine to further develop the performance and durability of the automotive parts and components. The utilization of PTFE in automobiles results in lower emissions and increased fuel efficiency. In aviation applications, it is important to use a material, which is fire-retardant and emits low smoke and toxic gases. The different applications in aerospace require PTFE that can withstand aggressive application conditions under a broad range of temperatures.

Restraint:

High prices

The costs of polytetrafluoroethylene have changed and witnessed an expansion in recent years. Recently, the PTFE costs have been expanding constantly because of the closing down of different manufacturing units. Other factors, which have impacted PTFE costs are the 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 affect the PTFE demand.

Opportunity:

Increasing penetration in medical application

PTFE is utilized in clinical applications because of its chemical inertness which makes it biocompatible. The chemical inertness also prevents any adverse reactions on contact with the body. In addition, it resists wetting by biological liquids and is not chemically different or degraded by medical fluids. PTFE is one of the most favored materials in the medical industry, particularly in the form of membranes and grafts. At present, many countries are witnessing the rapid development of PTFE utilization in the medical services industry. This industry is likely to witness a further increase in the demand for PTFE through new horizons as its large portion remains unexplored.

Threat:

Utilization of reprocessed PTFE

The rising utilization of reprocessed PTFE is a challenge for the growth of the PTFE market as it changes the key properties of the resin. It brings porosity into the material, which then causes issues with water absorption and dielectric strength. Likewise, weaker bonds between the particles adversely affect the tensile strength and invariably cause crack lines within the material, which may not be visible, but will affect long-term usage. Although the chemical inertness remains good, the higher water absorption makes the material vulnerable for applications, where the weather-ability and hydrophobic properties of pure PTFE are preferred.

The granular/molded powder segment is expected to be the largest during the forecast period

The granular/molded powder segment is estimated to have a lucrative growth owing to the increasing demand for industrial parts in end-user industries. The form is best suited for molding a variety of shapes including rods, ball valves, tubes, sheets, etc. Granular products are widely utilized in making seal rings, valve seats, bearing pads, fittings, electrical insulations, and many more components.

The electronics & electrical segment is expected to have the highest CAGR during the forecast period

The electronics & electrical segment is anticipated to witness the fastest CAGR growth during the forecast period as it has important applications in the electronics & electrical end-use industry as it offers excellent electrical insulation properties under harsh conditions like high temperatures and aggressive chemicals. It furthermore provides outstanding chemical and temperature resistance and design flexibility for component manufacturers and equipment designers.

Region with highest share:

North America is projected to hold the largest market share during the forecast period due to continuous technological advancements for end products and rapid expansion in the industrial and chemical processing industry. The presence of a large number of chemical producers in major countries is likely to drive polytetrafluoroethylene market demand in the near term.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period owing to the development of manufacturing industries, cheap labor, increasing foreign investments, and expanding application area of polytetrafluoroethylene in chemical & industrial processing and electronics industries. Countries such as China, Japan, and South Korea, which are the significant centers for the production of electronic components, are likely to witness significant market growth in the Asia Pacific.

Key players in the market

Some of the key players profiled in the Polytetrafluoroethylene (PTFE) Market include Zhonghao Chenguang Research Institute of Chemical Industry, Dongyue, Solvay, HaloPolymer, Jiangsu Meilan Chemical Co. Ltd, Hindustan Fluorocarbons Ltd, Gujrat Fluorochemicals, Shanghai 3F New Materials Company Ltd., Daikin, Chemours, BEMU Fluorkunststoffe GmbH, Asahi Glass Company, 3M and Zhejiang Juhua.

Key Developments:

In November 2021, Parker Hannifin introduced 2030T-V70CON convoluted PTFE hose, supplied by the Polymer Hose Division Europe. This product is suitable for a vast series of demanding use-cases. The PTFE hose type is a combination of innovative design and advanced optimized materials.

In July 2021, Terumo Medical Corporation (TMC) launched AZUR Vascular Plug, which is the first-ever plug that is compatible with a microcatheter for occluding arteries up to a diameter of 8mm. This device comes with a polytetrafluoroethylene (ePTFE) as well as polyethylene terephthalate (PET) inner composite membrane that assists in smoother mechanical occlusion.

Forms Covered:
• Micronized
• Granular/Molded Powder
• Fine Powder
• Other Forms

Fabric Types Covered:
• Non-Woven Fabric
• Fiber made Fabric
• Coated Fabric

Types Covered:
• Unmodified
• Modified

Products Covered:
• Virgin PTFE
• Stainless Steel Filled PTFE
• Graphite Filled PTFE
• Carbon Filled PTFE
• Bronze Filled PTFE
• Glass Filled PTFE

Applications Covered:
• Sheet
• Pipes
• Films
• Coatings & Non-Stick Wear
• Other Applications

End Users Covered:
• Electronics & Electrical
• Automotive and Transportation
• Chemical & Industrial Processing
• Healthcare & Medical
• Building & Construction
• Consumer Goods
• Aerospace & Defense
• Textile
• Sports/Recreation
• Pharmaceutical
• Oil & Gas
• Food & Beverage
• Cookware
• Packaging
• Agrochemical
• Consumer Goods/Household

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
Comprehensive profiling of additional market players (up to 3)
SWOT Analysis of key players (up to 3)
• Regional Segmentation
Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances