SAN FRANCISCO, Feb. 27, 2019 /PRNewswire/ -- The global polytetrafluoroethylene (PTFE) market size is expected to reach USD 4.33 billion by 2025, according to a new report by Grand View Research, Inc. The global market is projected to expand at a CAGR of 5.2% over the forecast period. Polytetrafluoroethylene is widely used in a broad range of applications including chemical processing, industrial processing, electrical and electronics, building and construction, and automotive and transportation. It is an opaque plastic fluoropolymer made by free-radical polymerization of Tetrafluoroethene (TFE) monomers. The market is mainly driven by the growing product demand in non-stick cookware and wire and cable coatings.
Key suggestions from the report:
- Fine-powder PTFE is estimated to be the fastest-growing product segment over the forecast period
- In terms of revenue, the industrial and chemical processing application segment is expected to witness a CAGR of 5.1% over the forecast period
- U.S. is the largest market in North America region and accounted for over 78% of the North America market share in 2017
- Some of the prominent companies in the global Polytetrafluoroethylene (PTFE) market include The 3M Company; AGC Chemicals Americas, Inc.; Arkema S.A.; Solvay S.A.; and DowDuPont, Inc.
Read 102 page research report with TOC on "Polytetrafluoroethylene (PTFE) Market Size, Share & Trends Analysis Report By Product (Granular, Fine-powder), By Application (Industrial & Chemical Processing, Electrical & Electronics), And Segment Forecasts, 2019 - 2025" at: https://www.grandviewresearch.com/industry-analysis/polytetrafluoroethylene-industry
However, automotive and transportation remained the largest application segment for PTFE. In U.S., the automotive industry is at the forefront of technology and product advancement. New R&D initiatives are transforming the auto sector to better respond to the opportunities created in the past few years. According to The International Trade Administration (ITA), U.S. exported approximately 2 million new light vehicles and 130,000 medium and heavy trucks to more than 170 markets across the world in 2017. U.S. is the largest contributor in the North America region and is also expected to drive the global market owing to the presence of major application industries in the country.
Electrical and electronics application segment is projected to witness the fastest growth over the forecast years due to increasing product use in semiconductor fabrication, lithium-ion batteries, and wires and cables insulation. China is one of the world's largest manufacturing hub for electronic products. This factor is expected to fuel the demand for PTFE in electronics and electrical application segment. Automotive industry in India is set to witness major changes in the form of shared mobility and Electric Vehicles (EVs). Positive outlook in the Indian automotive industry is expected to augment the product demand over the next few years.
Grand View Research has segmented the global Polytetrafluoroethylene (PTFE) market on the basis of product, application, and region:
- PTFE Product Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
- PTFE Application Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
- Industrial & Chemical Processing
- Electrical & Electronics
- Automotive & Transportation
- PTFE Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
SOURCE Grand View Research, Inc