According to IMARC Group latest report titled” Polytetrafluoroethylene (PTFE) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the market reached a value of US$ 2.4 Billion in 2020. The Global Polytetrafluoroethylene (PTFE) Market trends to grow at a CAGR of 4.7% during 2021-2026. Polytetrafluoroethylene (PTFE) stands for a tough, waxy, and non-flammable synthetic resin that consists of carbon and fluorine atoms. It is produced through the free-radical polymerization process of chloroform, fluorspar, and hydrochloric acid. PTFE is usually employed to supply a non-stick coating to surfaces, especially cookware, such as pans, baking trays, and industrial products. It exhibits various physical properties, including resistance to heat, chemicals, ultraviolet (UV) rays and fatigue, low water absorption and high electrical insulation. Owing to these benefits, PTEE finds extensive applications across several industries, including oil and gas, chemical processing, electrical, medical, automotive and construction.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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The global polytetrafluoroethylene market is primarily driven by considerable growth in the chemical and industrial processing sectors. It is extensively used to manufacture industrial products, such as gaskets, vessel linings, pump interiors, rings, seals and well-drilling equipment. Furthermore, PTFE is also utilized to improve the overall functioning and minimize the downtime of these machines and automotive components. Besides this, there is a growing preference among healthcare professionals for various membranes and grafts produced using biocompatible PTFE for cardiovascular, orthopedic, ophthalmic and dental procedures. Additionally, the development of reprocessed PTFE with higher compressive strength and durability is projected to further drive the market growth over the forecasted period.
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
- AGC Inc.
- Zhonghao Chenguang Research Institute
- Daikin Industries Ltd.
- Dongyue Group
- Gujarat Fluorochemicals Limited
- Halopolymer OJSC
- Jiangsu Meilan Chemical Co. Ltd
- Shanghai 3F New Material Co. Ltd
- Solvay SA
- The 3M Company
- The Chemours Company
- Zhejiang Juhua Co. Ltd
Polytetrafluoroethylene (PTFE) Market Segmentation:
Our report has categorized the market based on Region, Form, Type, Application and End-Use Industry.
Market Breakup by Form:
- Micro Powder
- Fine Powder
Market Breakup by Type:
- Virgin PTFE
- Stainless Steel Filled PTFE
- Carbon Filled PTFE
- Bronze Filled PTFE
- Glass Filled PTFE
Market Breakup by Application:
Market Breakup by End-Use Industry:
- Industrial & Chemical Processing
- Electrical & Electronics
Market Breakup by Region:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021- 2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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