Polytetrafluoroethylene (PTFE) Market is Projected to Grow at USD 3.60 billion by 2027, at a CAGR of 6.1%

The PTFE market is projected to grow at USD 3.60 billion by 2027, at a CAGR of 6.1% during the forecast period.

The report "Polytetrafluoroethylene (PTFE) Market by Form (Granular, Fine Powder, Dispersion, and Micronized), End-use Industry (Chemical & Industrial Processing, Electronics & Electrical, Automotive & Aerospace, Consumer Goods), and Region - Global Forecast to 2027".

Key players profiled in the report include Chemours (US), Daikin (Japan), 3M (US), Solvay (Belgium), Asahi Glass Company (Japan), Dongyue (China), Zhejiang Juhua (China), Shanghai 3F New Materials Company Ltd. (China), HaloPolymer (Russia), and Gujrat Fluorochemicals (India).

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Currently, the demand for PTFE is driven by its increasing applicability in medical, automotive, chemical processing, food & household applications that require material with specific properties. Properties like inertness to chemicals, low dielectric strength, high thermal stability, low co-efficient of friction, and so on, makes PTFE a preferred material in these industries. Emerging expanded PTFE (ePTFE) and modified (mPTFE) encloses the major opportunities in PTFE market. ePTFE market is a growing market which majorly envelopes PTFE membrane application. ePTFE membrane has improved material properties as compared to standard PTFE and hence is finding emerging applications in industries like, medical, filtration, and textile. ePTFE is consumed in a large portion in textile and filtration application by means of fibers.

The APAC PTFE market is projected to grow at the highest CAGR during the forecast period.

APAC is expected to be the fastest-growing PTFE market during the forecast period. The PTFE market in this region is led by China, Japan, India, and South Korea. The increasing demand for PTFE in the production of components used in automobiles, electronic devices, electrical appliances, chemicals, and industrial products in China and Japan, among other economies, is driving the growth in this market in APAC. These factors are driving key market players to expand their business in the APAC region.

Browse 77 market data Tables and 34 Figures spread through 134 Pages here - https://www.marketsandmarkets.com/PressReleases/polytetrafluoroethylene.asp

Chemours is a leading player in the PTFE market. The company provides fluorochemicals and fluoropolymers. It has been leading the fluorochemicals market since 1930. The company sells PTFE under the brand Teflon. Chemours accounts for a market share of 22% of the fluorochemicals market and 25% of the fluoropolymers market. North America and APAC account for large shares of the sale of Chemours’ fluoroproducts. Chemours focuses on the company’s growth by implementing strategies such as cost reduction, capital investments, enhancement of product portfolio, and optimizing processes. For example, in July 2016, Chemours invested in a new Teflon finishes plant at Chemours’ Changshu works site located in China. The company invested USD 15 million in this production unit. This plant has enabled the company to provide a sustained supply of Teflon coatings in APAC for consumer and industrial applications.

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