What You Need To Know In 2021 About | Polytetrafluoroethylene (PTFE) Market Worth $3.60 Billion By 2027

PTFE is the most dominant type of fluoropolymer that accounts for approximately half of fluoropolymer consumption, globally. PTFE properties include chemical resistance, low friction, mechanical toughness, stress cracking, flexibility, and thermal resistance are responsible for its wide use among all fluoropolymers. PTFE finds application in various industries including chemical & industrial processing, automotive & aerospace, electronics & electrical, building & construction, and consumer goods.

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Based on end-use industry, the chemical & industrial processing segment is estimated to lead the PTFE market.

PTFE resin is extensively used in the chemical & industrial processing industry in the form of films, gaskets, tubes, coatings, liners, and components in a wide range of machinery and equipment. It is mainly used in the manufacturing of pumps and valves, shaft seals, sliding elements, and friction bearings. Chemical resistance, thermal resistance, and flexural strength properties of PTFE make it suitable for its use in the chemical & industrial processing end-use industry.

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.

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♦ Leading Key Players - 

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).