CHICAGO, Aug. 14,
2024 /PRNewswire/ -- The report "PTFE
Market by Form, Application, End Use Industry (Chemical
& Industrial Processing, Automotive & Aerospace, Electrical
& Electronics, Building & Construction, Consumer Goods),
and Region - Global Forecast to 2029", PTFE Market size is
projected to grow from USD 2.8
billion in 2024 to USD 3.5
billion by 2029, registering a CAGR of 4.3% during the
forecast period.
The PTFE market is experiencing significant growth due to
increasing demand from various major economies for different end
use industries such as chemical & industrial processing,
electrical & electronics, automotive & aerospace, consumer
goods, building & construction and other end use industries as
well. Stricter environmental regulations and the need for
sustainable practices are driving industries to adopt advanced
technologies to reduce plastic consumption. Additionally, the rapid
expansion of chemical industries, which require PTFE in various
applications, is further propelling the market.
Browse in-depth TOC on "PTFE Market"
220 – Tables
52 – Figures
180 –
Pages
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"Dispersion PTFE, by form, is expected to have highest CAGR
in terms of volume during the forecast period."
Dispersion PTFE is expected to have highest CAGR of 4.4% in form
in terms of volume during the forecast period in terms of value. It
is yellowish and milky liquid which helps in reducing surface
tension and better chemical resistance. It has various applications
such as nonstick coatings and impregnation of glass fiber. Apart
from this the PTFE dispersion is also used in various applications
such as electrical insulation, gaskets, seals. The reason being its
excellent thermal stability and low friction coefficient. As the
industries wants the material to be pure, durable and with low
maintenance cost, the demand for dispersed PTFE is bound to
increase.
"Coatings is anticipated to be the largest application,
during the forecast period in terms of volume."
Coatings is estimated to be the largest application in terms of
volume, Due to exceptional qualities of PTFE such as good chemical
resistance, low friction, and great chemical tolerance. PTFE
coating is also gaining momentum in medical fields as it has its
application in ligament replacement, heart patches, and
cardiovascular graft. One of the biggest advantages of PTFE
coatings is its ability to withstand harsh chemicals and corrosive
environments. In addition to this PTFE coatings offer an extremely
low coefficient of friction, making them ideal for application in
smooth and non-sticky surfaces. These qualities are particularly
useful in food and processing industry, where PTFE coating is
extensively used in cookware and bakeware to prevent food from
sticking and which helps in easy cooking.
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"Asia Pacific is expected to
be the fastest-growing region in the global PTFE market, by region,
during the forecast period."
The Asia Pacific region is
experiencing growth in the PTFE market due to rapid
industrialization, urbanization, and infrastructure development.
The significant presence of highly populated countries, such as
India, China, has benefited the PTFE market, because
of the increasing demand for high-quality medical, automotive,
consumer, and electronic products. China, India,
Japan, and South Korea are among the world's biggest
automakers, which consistently generates demand for PTFE products
in the transportation sector. In addition, these countries are
leading manufacturers and exporters of medical &
pharmaceutical, electronics, consumer goods, and chemical products.
Asia Pacific is attracting
investors for setting up production facilities because of the easy
availability of raw materials and labor at lower prices. This
region has witnessed significant growth in production due to low
production costs and support of the local governments.
The key players profiled in the report include are AGC Inc.
(US), Gujarat Fluorochemical Limited (India), DAIKIN INDUSTRIES, Ltd., (Japan), Dongyue Group (China), The Chemours Company (US),
3M (US), SYENSQO (Belgium), HaloPolymer, OJSC (Russia), Shanghai Huayi 3F New Materials
Co.Ltd (China), and
Micropowders,Inc. (US).
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