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Polychlorotrifluoroethylene Market to Record Study Growth by 2025
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Rapid expansion in the molding industry is a key factor driving the global PCTFE market. Demand for PCTFE in compression molding and extrusion molding has been rising. This is anticipated to propel the global PCTFE market. Increase in demand for PCTFE in industrial applications such as manufacture of chemical apparatus, process equipment, cryogenic applications, valve seats, seals, gaskets, sight glasses, laboratory equipment, and medical equipment is boosting the PCTFE market. Growth in demand for PCTFE in the refrigeration industry is considered a significant driver of the PCTFE market. Rise in usage of PCTFE in cryogenic applications such as handling of liquid oxygen and liquid nitrogen is augmenting the demand for PCTFE. PCTFE can retain its mechanical properties over a wide temperature range (down to almost absolute zero). Thus, it is widely used in refrigeration engineering. Recent advancements in the semiconductor industry is also propelling the global PCTFE market. PCTFE is used to protect sensitive electronic components due to its excellent electrical resistance and water repulsion properties. Rise in demand for PCTFE in the aerospace industry is also fuelling the market owing to its wide applications in machine components of aerostructures.
Based on application, the global PCTFE market can be segmented into chemical, industrial, aerospace, and semiconductor industries. In terms of grade, the PCTFE market can be bifurcated into pellet and granular. Pellet grade is generally employed for compression and extrusion molding. Granular grade is used for compression molding of thick walled products. The grade offers excellent stress crack resistance.
The global PCTFE market expanded at a moderate pace in 2016. This trend is anticipated to continue during the forecast period. In terms of geography, the PCTFE market can be segmented into Asia Pacific, North America, Europe, Middle East & Africa, and Latin America. Growth in the chemical industry in Asia Pacific, especially in countries such as China and India, is estimated to offer lucrative opportunities to the PCTFE market. Significant expansion in the aerospace industry in North America is boosting the PCTFE market. Growth in the semiconductor industry in Europe is anticipated to augment the PCTFE market in the region. Recent advancements in aerospace and chemical industries In Latin America are anticipated to act as a driving factor of the PCTFE market in the region. Recent progress in the chemical industry in Middle East & Africa is propelling the PCTFE market in the region.
High degree of competition exists in the global PCTFE market. Key players operating in the PCTFE market include DAIKIN INDUSTRIES LTD, Welch Fluorocarbon Inc, and GAPI Group.
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