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Polytetrafluoroethylene Global Market Estimated to Surge at a CAGR of 6.5% to Reach $3.35 Billion By 2028 | 3M Company, AGC Inc., Solvay SA, Dupont, Arkema Group
Polytetrafluoroethylene Market
As per the report, the polytetrafluoroethylene market size has grown strongly in recent years. It will grow from $2.44 billion in 2023 to $2.60 billion in 2024 at a compound annual growth rate (CAGR) of 6.4%. The polytetrafluoroethylene market size is expected to see strong growth in the next few years. It will grow to $3.35 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%.
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The Polytetrafluoroethylene Market Is Poised For Growth Driven By the Booming Construction Industry
The increasing construction is expected to propel the growth of the polytetrafluoroethylene market going forward. Construction activities involve the physical development of buildings, infrastructure, and other structures. The increasing construction and real estate activities are due to rapid urbanization, infrastructure development, and a focus on efficiency and accuracy in building projects. Polytetrafluoroethylene provides unique properties, including its durability, chemical resistance, low friction, flexibility, thermal insulation, non-stick characteristics, and electrical insulation, making it an invaluable material in the construction industry. For instance, in February 2024, according to Eurostat, a Europe-based government agency, the average annual building production in the EU and the euro region increased by 0.1% and 0.2%, respectively, compared to 2022. Additionally, in December 2021, according to the United States Census Bureau, a US-based government agency, the value of construction activities increased from $1,626.4 billion in 2021 to $1,792.9 billion in 2022, with a growth rate of 10.2 percent. Therefore, the increasing construction drives the polytetrafluoroethylene market.
Innovative PTFE-Based Solutions Emerge To Address Regulatory Challenges And Enhance Performance
Major companies operating in the polytetrafluoroethylene (PTFE) market are focusing on product innovations such as developing new PTFE-based products to gain a competitive advantage in the market. The aim of new polytetrafluoroethylene (PTFE) is to prevent electromagnetic and radio frequency interference in critical electrical components and offer an alternative to fluorinated lubricants in industrial applications, addressing the restrictions on poly-fluoroalkyl substances (PFAS). For instance, in October 2023, Avient, a US-based corporation that offers polytetrafluoroethylene (PTFE) launched New Stat-Tech TPEs & PTFE-Free LubriOne Internally Lubricated Formulations. These formulations provide solutions to prevent electromagnetic and radio frequency interference in critical electrical components and are used for gears where a low coefficient of friction is essential, without the use of polytetrafluoroethylene (PTFE). These TPEs are suitable for applications such as radars, sensors, and camera systems, where electromagnetic and radio frequency interference needs to be prevented.
The polytetrafluoroethylene market covered in this report is segmented -
1) By Type: Virgin Ptfe, Stainless Steel Filled Ptfe, Carbon Filled Ptfe, Bronze Filled Ptfe, Glass Filled Ptfe, Other Types
2) By Form: Granular Or Molded Powder, Fine Powder, Dispersion, Micronized Powder
3) By Application: Sheet, Coatings, Pipes, Films, Other Applications
4) By End-User Industries: Chemical And Industrial Processing, Electronics And Electrical, Automotive And Aerospace, Consumer Goods, Building And Construction, Other End-User Industries
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Major companies operating in the polytetrafluoroethylene market are Dow Chemical Company, Gujarat Fluorochemicals Limited, 3M Company, Daikin Industries Ltd., Asahi Glass Company, AGC Inc., Solvay SA, Dupont, Arkema Group, SABIC, Chemours Company, Zhejiang Juhua Co. Ltd., Dongyue Group, Hubei Everflon Polymer CO. Ltd, Shamrock Technologies Inc., Saint-Gobain SA, Micro Powders Inc., Micro Powders, HaloPolymer, Acton Technologies Inc., Dyneon GmbH, Ellsworth Adhesives, Shanghai Huayi Fluorochemical Co. Ltd., Solexis SA, Lanmar Inc.
Contents of the report:
1. Executive Summary
2. Polytetrafluoroethylene Market Report Structure
3. Polytetrafluoroethylene Market Trends And Strategies
4. Polytetrafluoroethylene Market - Macro Economic Scenario
5. Polytetrafluoroethylene Market Size And Growth
…..
27. Polytetrafluoroethylene Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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