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Increasing production of cars to drive Polytetrafluoroethylene (PTFE) Market outlook

05-17-2021 07:47 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: global market insights

Polytetrafluoroethylene (PTFE) Market

Polytetrafluoroethylene (PTFE) Market

According to a Global Market Insights, Inc., analysis report, global polytetrafluoroethylene (PTFE) market size will be valued at over US$1.3 billion by 2026.

Polytetrafluoroethylene (PTFE) belongs to the fluoropolymer group and extensively utilized for its various applications in the end-user sector, including chemical processing, aerospace, automotive, electrical & electronics, and others. The material is widely utilized in the preparation of nonstick coating that is applied on the cookware surface.

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PTFE is utilized in the automotive sector for coating molds that are further used in fasteners, gaskets, seals, manifold design, and others. Increasing production of vehicles and growing user inclination towards electric cars across the globe will foster polytetrafluoroethylene industry share from the automotive sector.

On account of extensive research and development activities to enhance the efficiency of PTFE, the application area of the product is expected to grow in the coming years. Ongoing R&D activities include new generation sliding bearing materials, utilization of PTFE in producing next-generation plastic lined piping and fittings, and others. Such research activities expanding the application range of PTFE would augment the industry landscape to a large extent.

From the dispersion process of manufacturing, the global polytetrafluoroethylene (PTFE) market share will grow at nearly 5.2% CAGR up to 2026. This form of the material is predominantly utilized in the making of filled bearings, glass cloth coatings, metal coatings, and others. Growing utilization of cookware items in households will boost the demand for PTFE dispersion material from the end-use sector.

The unmodified segment of the polytetrafluoroethylene (PTFE) market will experience significant growth by 2026. Unmodified PTFE coating is broadly utilized in applications that require superior dielectric strength, purity, and a high degree of non-contamination. The suspension process which transforms PTFE into powder or granular form in the absence of dispersant will witness considerable growth in the upcoming years.

The polytetrafluoroethylene (PTFE) market share from the automotive and aerospace sector is projected to experience over 5% CAGR up to 2026.

The material is prominently utilized in the aerospace industry for its various application in wing edge, fuel hoses, doors protection, cable insulation, and assembling aluminum rod attached to slats and flaps, among others. Key properties of the product including low coefficient of friction, superior temperature resistance, high dielectric constant, inflammability, and others make them best suited for applications in the aerospace sector.

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The North America polytetrafluoroethylene (PTFE) market is expected to hold significant market share in the forthcoming years. The presence of prominent chemical companies and a substantial output production of electrical and electronic products in the U.S. would augment the regional landscape.

Leading firms functioning in the global polytetrafluoroethylene (PTFE) market worldwide include Mitsubishi Chemicals, SABIC, Arkema, DuPont, AGC Chemicals, DAIKIN Chemicals, Honeywell, and 3M.

Surging investments in research and development to enhance product capabilities along with the incorporation of sophisticated technology to uplift production capacity will positively influence the progression of PTFE business globally.

Contact Us:

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Toll Free: 1-888-689-0688

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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