Skip to main content

Polytetrafluoroethylene Market: Rising Use in Cookware and Automotive Industries to Spur Growth, TMR

The global polytetrafluoroethylene (PTFE) market is highly concentrated, with the large-scale manufacturers at the fore. Some of the most prominent names in the market are 3M, Solvay, Daikin Industries, Chemours Company, and Asahi Glass Co., Ltd., finds Transparency Market Research (TMR) in a new study. These companies cumulatively held over 62.7% in the global market in 2015. Besides this, small- and medium-scale companies are present in the market, however, they are much limited in number.

In order to gain stronger foothold, a majority of companies operating in the market focus on expanding existing production sites, exploring new regions, and product development. A common aspect among the companies holding dominance, is their widespread regional footprint. On account of having penetrated into untapped markets, these companies enjoy greater sales prospects, which have inevitable contribution towards their lead in the global PTFE market.
TMR has provided refined outlook for the market, aimed at providing better perspective to the existing companies as well as new entrants. It forecasts the global PTFE to exhibit a CAGR of 4.6% between 2016 and 2024. At this pace, the market valuation, which stood at US$3.48 bn in 2015, will reach US$5.18 bn by the end of 2024. By type, the market was led by the micro powder segment with a share of 30.8% in 2015. Regionally, Asia Pacific emerged as the clear lead in 2015, holding over 44.3% of the global PTFE market in 2015. Through the course of the forecast period, the region’s dominance is forecast to remain unaffected.
Demand for Non-stick Cookware to Drive Growth
The global PTFE market is majorly gaining from the increasing demand for non-stick coatings in the cookware market. Urbanizations, increasing willingness to spend on products making lifestyle easier, and changing food habits will provide significant impetus. Furthermore, the cookware industry is prophesized to expand further in the coming years, thereby creating lucrative prospects for increased PTFE applications.
In addition, PTFE’s excellent dielectric properties make it an ideal insulation materials for connector and cable assemblies. Hence PTFE is also used as a substitute for polyethylene, which has a low melting point and is used in low cost applications. As countries around the world upgrade existing grids by upgrading them to smart grids, the use of PTFE will rise on account of its aforementioned properties. Spurred by this, the global PTFE market will exhibit strong growth during the forecast period.
Besides this, the market will gain from the extensive use of PTFE in the automotive industry. In the last few years, globally the manufacturing of lightweight vehicles has significantly increased in order to provide better fuel-efficiency and high performance. This is expected to fuel the use of PTFE as lining material for hoses, hydraulic systems, airbrake systems, and other car components.
Fluctuating Raw Material Prices may Dwindle Growth
On the downside, the unstable prices of raw materials are expected to render the market unwieldy. PTFE is derived from hydrogen fluoride, which is derived from calcium fluorite also referred to as fluorspar. China is a major producer of fluorspar, however, export restrictions imposed by the government to seal China’s dominance has created a demand and supply gap. Such laws will exacerbate situations for the market players. Also stringent regulations imposed to curb the use of perfluorooctanoic acid (PFOA) will have adverse impact on the market. Although PTFE does not contain PFOA, however, there may be some traces, which could create obstacles for the market.
Nevertheless, penetration in untapped markets, product development, and diversification holds the key for market players to ensure sustainable growth. These strategies if adopted can smoothen much effects from the aforementioned bottlenecks.
The report segments the global PTFE market as:
Polytetrafluoroethylene (PTFE), by Product:
  • Granular
  • Fine Powder
  • Micro Powder
  • Others (include dispersions, liquids etc.)

Polytetrafluoroethylene (PTFE) Market, by Application:
  • Industrial and chemical processing
  • Automotive
  • Electrical and Electronics
  • Others (cookware, building & construction, and medical, etc.)

This study is based on a TMR report, titled “Polytetrafluoroethylene (PTFE) Market (Product - Granular, Fine Powder, Micro Powder, Dispersions, and Liquids; Application - Industrial and Chemical Processing, Automotive, Electricals, Electronics, Cookware, Building & Construction, and Medical) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024.”
Labels:
Location: Albany, NY 12207, USA

Comments

Post a Comment

Popular posts from this blog

Superabrasives (Turning, Cutting, Buffing, Drilling, Boring, Grinding) Market Research Report 2025

An abrasive is a material which molds or provides finishing to a work piece through a process which includes buffing, grinding, cutting, as well as polishing. Abrasion typically depends on the difference in the hardness of the material and the abrasive (with the latter being the harder of the two). Unlike regular abrasion where any two solid materials that repeatedly rub against each other tend to wear away, superabrasives possess the kind of hardness that enables them to stay usable for a longer period of time. On the basis of hardness, the top two superabrasives include diamond and cubic boron nitride (CBN). Industrial diamonds used as superabrasives are exceptionally hard materials. However, they display several technological limitations. For instance, when a diamond comes in contact with a ferrous alloy such as steel or a nickel superalloy, the resulting formation of carbide leads to its abrasion. Also, a diamond-containing tool can only be used at moderate temperatures a...
Post a Comment
Read more

Industrial Lubricants Market: Strong Demand Across Automotive Industry, Trends To 2025

Lubricants refer to the organic or inorganic material primarily being use to decrease friction between two surfaces in contact. Lubricants play a key role in several industries as well as in commercial and residential sectors. One of their most common uses is in the lubrication of bearings and gears, allowing for their easy movement at high speeds, without loss in energy, prevent excessive generation of heat, or most importantly, prevent damage that would be caused otherwise. Industrial lubricants are, therefore, essential in enhancing the overall efficiency of a machine that contains moving parts in contact with one another. The global industrial lubricants market is currently expanding at a solid growth rate, driven by several factors and spearheaded by the likes of BP, Total, Chevron Corporation, ExxonMobil, and Shell. Browse Market Research Report @  http://www.transparencymarketresearch.com/industrial-lubricants-market.html What Impact has the Oil and Gas Industry ...
Post a Comment
Read more

Rapid Prototyping Market - Rapidly Gaining Importance in Aerospace Sector, Research By 2024

Rapid prototyping is a technique in which the physical modeling of a design is done with the help of specialized machining technology. It was developed initially in the mid-1980s, the principle used in this technology is of solid modeling with the help of computer programs (i.e. CAD). Solid modeling makes use of computer aided-design (CAD) data to completely describe not just the external shape of parts or equipment, but its interior volume as well as the outside surfaces. The computer model is sliced into thin layers and the part of the product or commodity to be modelled or developed as per the requirement, is eventually fabricated by adding layers onto each other. Obtain Report Details @   http://www.transparencymarketresearch.com/rapid-prototyping-market.html The primary benefit of the system is that almost any shape can be manufactured using computerized programs. Time and money savings vary from 50% to 90% compared to conventional systems. Types of rapid proto...
Post a Comment
Read more